Global Refrigerant Market Information: By Application (Refrigerator, Air Conditioner, Chillers/Heat Pump), Analysis, Size, Share, Growth, Trends and Global Forecast Till 2023
Research Reports
Jan 11, 2021
Refrigerants are available in two types: natural refrigerants and synthetic refrigerants. The natural refrigerants have low GWP. However, they are toxic and flammable. Synthetic refrigerants, on the other hand, are non-toxic and non-flammable but possess high GWP.
Market Synopsis
The refrigerant is a heat carrier, which changes phase from gas to liquid and then back to gas in the refrigeration cycle. In other words, the refrigerant is the medium of heat transfer, which picks up the heat by evaporating at a low temperature and pressure and gives up the heat on condensing at a higher temperature & pressure. It is used as a cooling mechanism in refrigerators, and air conditioners.
Market Scenario
Refrigerant is a substance used as a medium of heat transfer, which picks up the heat by evaporating at a low temperature and pressure. It gives up the heat on condensing at a higher temperature & pressure, and coverts back to the gas phase in the refrigeration cycle. Refrigerants are designated by R followed by a unique number.
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Regional Analysis
The global refrigerant market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is the major region in the global market. The Middle East & Africa is expected to show rising demand over the forecast period. North America and Europe is expected to show steady demand, which is further trailed by Latin America.
Competitive Analysis
Some of the key players in the global refrigerant market are DAIKIN INDUSTRIES, Ltd. (Japan), The Chemours Company. (U.S.), Honeywell International Inc. (U.S.), Arkema S.A. (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Sinochem Group (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), SRF Limited (India), and DowDuPont Inc. (U.S.).
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Key Players
Some of the prominent players operating in the global refrigerant market are DAIKIN INDUSTRIES, Ltd.(Japan), The Chemours Company. (U.S.), Honeywell International Inc. (U.S.), Arkema S.A. (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Sinochem Group (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), SRF Limited (India), and DowDuPont Inc. (U.S.).
Intended Audience
- Refrigerant manufacturers
- Traders and distributors of refrigerant
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
Industry Update
June 2019: The Chemours Company recently inaugurated the new Opteon production facility in Texas. The production facility is likely to triple the capacity of Opteon, a hydrofluoro olefin (HFO)-based refrigerant, which is used in millions of vehicles and thousands of retail stores across the globe.
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