The global demand for Hydrocarbon Refrigerant Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028. Regarding volume, the market was calculated XX K MT in 2021 and forecast to touch XX K MT by 2028 with a CAGR of XX% during 2022-2028.
Hydrocarbon refrigerants (HC) are defined as natural, non-toxic refrigerants with no ozone depletion and low global warming potential. Hydrocarbons are one of the common elements found on this earth. The most commonly used HC refrigerants are Propane (R-290), Isobutane (R-600a), and Propylene (R-1270). Due to their latent heat of evaporation, hydrocarbon refrigerants provide more efficient cooling. As a result, smaller compressors can be utilized, leading to greater energy efficiency. With low global warming potential, hydrocarbon refrigerants are also better for the environment. Hydrocarbon refrigerants are used globally in vending machines, supermarket freezers, commercial refrigeration, food processing, cold storage, industrial refrigeration, refrigerated transport, chillers, air conditioning systems, etc.
Market Dynamics
The increasing use of hydrocarbon refrigerants over fluorocarbon refrigerants will help in propelling the market growth. These refrigerants are environmentally-friendly and aid in providing greater energy efficiency to refrigerators, which is another factor driving the market growth. These refrigerants are functional for cold storage, commercial refrigeration, small air conditioning & Large air conditioning systems, and industrial refrigeration. This wide range of applications will boost the market growth during the projected period. Lower running costs, less energy consumption & growing demand for propane-based refrigerants in air conditioners will flourish the sustainable development of the hydrocarbon refrigerants market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hydrocarbon refrigerant. The growth and trends of hydrocarbon refrigerant industry provide a holistic approach to this study.
Market Segmentation
This section of the hydrocarbon refrigerant market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By TypeBy Application- Refrigerators
- Chillers
- Air Conditioners
- Heat Pump
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Hydrocarbon Refrigerant market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Hydrocarbon Refrigerant Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hydrocarbon refrigerant market include Air Liquide (Airgas Refrigerants Inc.), Linde Group, Sinochem Group, A-Gas International, Harp International Ltd., Tazzetti S.P.A., Oz-Chill Refrigerants, Shandong Yueon Chemical Industry Ltd., Puyang Zhongwei Fine Chemical Co. Ltd., Zhejiang Fotech International Co Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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