Refrigerant Market by Top Competitors Analysis (Arkema SA, Dongyue Group Co. Ltd., Honeywell International Inc., The Linde Group, Daikin Industries Limited, Mexichem S.A.B. De C.V.)

Refrigerant Market – Industry Trends and Forecast to 202
Refrigerant Market, By Industry (Domestic household refrigeration), Light commercial refrigeration (Carbon dioxide, Hydrocarbons (propane, isobutene and others), Fluorocarbons (HCFC’s, HFC’s and hydrofluro olefins), low GWP alternatives), Commercial racks and condensing units ( Carbon dioxide, Hydrocarbons (propane, isobutene), Industrial refrigeration, Fluorocarbons, By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)- Industry Trends and Forecast to 2025

Global Refrigerant Market report offers a detailed Outlook and future prospects of the Corporate Secretarial Services Industry with analysis of major players that helps Industry experts, analysts and business decision makers to decide their business strategies and achieve proposed business aims.

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Global Refrigerant Market is expected to reach 2,019.96 Thousand Metric Tons by 2025 from 1,306.44 Thousand Metric Tons in 2017, at a CAGR of 5.7% in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025

Scope of the Report:

This report focuses on the Global Refrigerant Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

This report describes the development of the industry by upstream & downstream, industry overall and development, key companies, as well as type segment & market application and so on, and makes a scientific prediction for the development industry prospects on the basis of analysis, finally, analyzes opportunities for investment in the industry at the end of the report.

Major Players: Global Refrigerant Market

Some of the major players operating in this market are:-

  • Arkema SA,
  • Dongyue Group Ltd,
  • Honeywell International Inc.,
  • The Chemours Company,
  • The Linde Group,
  • Daikin Industries, Ltd.,
  • Mexichem S.A.B. de C.V.,
  • Sinochem Group,
  • Air Liquide,
  • A-Gas,
  • Shandong Yue’an Chemical Co., Ltd,
  • Gas Servei,
  • Zhejiang Fotech International Co. Ltd.,
  • Srf Limited,
  • Asahi Glass Co., Ltd,
  • Quimobasicos SA de CV,
  • Changshu 3F Fluorochemical Industry Co., Ltd.,
  • OZ-Chill Refrigerants,
  • Tazzetti S.P.A. among others.

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Drivers: Global Refrigerant Market

The major factors driving the growth of this market are the China focusing on natural refrigerants, technological changes such as low GWP refrigerants. Growth in the cold chain market, increase in the disposable income leading to rise in purchasing power of consumer appliances are some of the other factors which boost the market growth.

CHINA FOCUSING ON NATURAL REFRIGERANTS AS ADVISED BY MEP/FECO CHINA

Refrigerant market is growing in Asia-Pacific region due to China focusing on natural refrigerants as advised by Chinese Ministry for Environmental Protection/Foreign Economic Cooperation Office MEP/FECO China. A refrigerant is a mixture of substances, mainly available as a fluid that is used in a heat pump and refrigeration cycle. In most of the cycles it experiences phase transitions from a liquid to a gas and vice versa. Few of the common refrigerants used in numerous applications are sulfur dioxide, ammonia, and non-halogenated hydrocarbons such as propane. China is focusing on ozone friendly, natural refrigerant propane (R290) and to design a new system along with it. This new technology is more efficient in energy saving and has a negligible impact on climate as a result this will reduce greenhouse gases emission and will save the cost of energy consumed for consumer.

TECHNOLOGICAL CHANGES SUCH AS LOW GWP REFRIGERANTS

Low GWP (Global Warming Potential) is low global warming potential in the use of the refrigerant. GWP is the measurement of the greenhouse gases when it is released into the atmosphere and act as an indicator against (Carbon Dioxide) CO2, signifies GWP equals to one. Due to use of refrigerants such as R11, R12, R113, R500 and many more results in  greenhouses gases, along with the high GWP of HFCs (Hydrofluorocarbons), key players are switching to hydro fluoroolefin (HFO), hydrocarbons (HCs) and  ammonia which are being observed to give low GWP and Zero ODP. This in result will reduce the carbon emission and energy consumption. For instance, by 2022, European Union has agreed to ban the usage of HFCs in new equipment in various sectors, mostly at the commercial refrigeration.

Following are the related statistics which shows the adoption of the usage of low GWP from some of the market players –

In November, 2016, Honeywell launched Solstice N40 (R-448A), new lower GWP refrigerant for Japan supermarket in order to meet hydrofluorocarbon phasedown and reduction in consumption of energy.

In October, 2014, DuPont introduced the low GWP, hydro fluoroolefin (HFO) based refrigerants for commercial refrigeration with respect of the replacing the enable products due the growing regulations which restricts the utilization of high GWP refrigerants.

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