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Refrigerant Market by Type, Application, Region - Global Forecast to 2022

Refrigerant Market: Global Forecast until 2022

  • May 2017
  • 196 pages
  • ID: 4930598
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Refrigerants market forecasted to reach ~$18.0B by 2022

The refrigerants market is estimated to grow ~$18.0B by 2022, at a compound annual growth rate of 4.50 percent between 2017 and 2022. The drivers for this sector are the growing demand for consumer appliances including refrigeration and air-conditioning equipment and increasing cold chain market.

Elements such as increase in organized retail framework, shift towards horticultural crops, and increase in the processed food market also contribute to the increase in demand for refrigerants. Rising regulations against the use of fluorocarbon refrigerants and flammability and toxicity issues are anticipated to be industry restraints for the refrigerants market. Owing to growing regulations on the use of fluorocarbons, the refrigerants market is anticipated to witness an growth in demand for natural refrigerants, which in turn, is anticipated to be an opportunity in the refrigerants market.

Fluorocarbons-The most important refrigerant type in the refrigerants market in 2016

Fluorocarbon refrigerants lead the global refrigerants market. Nevertheless, with different countries agreeing to completely phase out the usage of fluorocarbons by 2047, the sector for this industry segment is anticipated to witness a decline. The European Union has already stopped the usage of HCFCs in cooling equipment manufactured after 2000. Therefore, the hydrocarbon refrigerants segment is anticipated to be the quickest-increasing refrigerant type according to its low environmental impact and long term viability.

Air conditioners-The biggest and quickest-rising application in the refrigerants market

Air conditioners lead the global refrigerants market. The MAC sub-application of air conditioners is forecasted to be one of the quickest-increasing applications in the refrigerants market. The Asia-Pac leads the refrigerants market in the MAC application segment due to the increasing automotive sector in the area. Elements such as low cost of labor, shifting of manufacturing facilities from Europe to the Asia-Pacific, and growing spending power of consumers are driving the automotive sector, which in turn, is driving the refrigerants market in the MAC application segment.

Middle East area & African continent forecasted to be the quickest increasing sector in refrigerants

The refrigerants market in the Middle East area & African continent is expected to grow at the quickest rate between 2017 and 2022. In the Middle East (ME) & African continent, increase in applications including large-scale refrigerators and chillers are driving the increase of the refrigerants market. Macroeconomic Elements such as massive economic increase, steady population increase, rising tourism, and economic diversification (for example, shifting dependency from the oil & gas sector to the retail and service industry) are responsible for the rise in the use of refrigerants in different applications. Growing economic prosperity, increasing populations, and increasing disposable incomes are attributed to the growth in global consumer expenditure in the territory.

Break-up of profiles by the primary participants for the study

• By Company category - Tier 1 - 37.0 percent, Tier 2 - 50.0 percent, and Tier 3 - 13.0 percent

• By Description - C Level- 50.0 percent, D-level - 31.0 percent, and Others - 19.0 percent

• By Area - North America continent - 28.0 percent, Europe (EU) - 22.0 percent, Asia Pacific (APAC) - 17.0 percent, Middle East (ME) & African continent - 28.0 percent, and South America region - 5.0 percent

The firms decribed in this business report are The Chemours Company, Honeywell (NYSE:HON), Arkema (AKE), Dongyue Group Co. Ltd, Asahi Glass Co., Limited, Daikin Industries Ltd., Sinochem Corporation, Mexichem S.A.B. de C.V., The Linde Group, Gujarat Fluorochemicals Ltd., and Air Liquide, among others.

Segment Research

The refrigerants market for this analysis is divided on the basis of type and application. The type segment is further broken down into fluorocarbons (HCFCS, HFCS, and HFOs), inorganics (ammonia and CO2), and hydrocarbons (propane and isobutane). The applications for this industry report contain refrigerators (domestic, commercial, and transport), large-scale refrigerators (supermarkets/hypermarkets and industrial), chillers (displacement and centrifugal), air conditioners (portable, single split, multi-split, and mobile air conditioners), and heat pumps.

Main highlights

This market research is mostly focused on several levels of analyses - industry, dive matrix, and company descriptions, which together comprise and examine the global views on the competitive landscape; coming out and high-growth segments of the refrigerants market; high-growth areas; and sector drivers, market restraints, and alternatives.

This study furnishes highlights on the following points:

• Market Uptake: Exhaustive data on refrigerants provided by the top actors in the overall refrigerants market

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis & growth activities, and recent product launches in the refrigerants market

• Market Development: Highlighted information about profitable emerging sectors - the market research examines the industries for refrigerants across localities

• industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the overall refrigerants market

• opposing assessment: Detailed assessment of market shares, strategies, products, and manufacturing competences of the key players in the refrigerants market

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