Refrigerants Market Report 2019-2029
Forecasts by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Air, Water, Propene, Isopentane), Application (Domestic, Commercial, Industrial, Chillers, Split AC, VRF, Window, MAC), by Region and Analysis of Leading Companies
Factors Driving the Market Growth:
– Rising demand for air conditioning
The air conditioning sector accounts for the biggest consumption share, with a sub-application of mobile air conditioning anticipated to experience significant development. A main factor driving this segment is increasing demand for air conditioning in automobiles as a comfort function.
– Increasing demand for energy efficient cooling
The sector is anticipated to grow driven by the increasing demand for energy-efficient cooling solutions and increasing awareness of global warming and ozone depletion. The phase-out of fluorocarbon as prescribed by the Montreal Protocol and modified by the Kyoto Protocol has resulted in a revival in demand for natural refrigerants. Therefore, significant development is anticipated for the hydrocarbon and inorganic sections.
Factors Restraining the Market Growth:
– Stringent environmental regulations against fluorocarbon refrigerants
The stringent regulation against fluorocarbon refrigerants is expected to hinder the market growth. Furthermore, flammability and toxicity issue are further expected to pose challenges for the market.
Market Segmentation 2019-2029:
The Refrigerants Market is segmented on Type, Application, and Regional basis.
– Carbon Dioxide
– Split AC
Focused regional forecasts and analysis explore the future opportunities:
– North America
– Global Refrigerants competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry
– The market competition is expected to be on the basis of new product development and product pricing.
Major Market Players:
Honeywell International, Daikin Industries Limited, Dongyue Group, Arkema S.A., Linde Group, Mexichem SAB de C.V., Sinochem Group, Air Liquide, and The Chemours Company.
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CCR Ref number: KD4R6
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