Global Refrigerant Market Report By Product (Fluorocarbon, Hydrocarbon, Inorganic, And Others), Application (Industrial Refrigeration, Domestic refrigeration, Transport Refrigeration, Commercial Refrigeration, Stationary Air Conditioning, Chillers & Heat Pumps, And Mobile Air Conditioning) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024
ID:VMR11210054
May 2018
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Rapid industrialization followed by surging demand in the automobile sector, especially passenger cars in emerging economies is likely to fuel the refrigerant market. Improved in the standard of living, rising disposable income and rising trend of nuclear families with dual income are the drivers boosting the market growth. An ability of refrigerant to carry heat within HVAC unit through phase transition has increased its application in refrigeration and air conditioning systems.

As per Value Market Research, Refrigerant Market is expected to be worth USD 20.18 BN by 2024 with a CAGR of 4.9%.
 
FLUOROCARBON DOMINATED THE REFRIGERANT TYPE SEGMENT
In 2017, Fluorocarbon is the leading refrigerant type owing to energy efficient and less flammable. Wide application areas of refrigerant in commercial air conditioning systems & refrigeration are likely to fuel the market growth in forecasting period. Growing demand for frozen food & chilled beverages has contributed to the growth of the fluorocarbon refrigerant market. However, Montreal Protocol mandated to phase-out use of fluorocarbon as a refrigerant due to the potential of ozone layer depletion. However, inorganic refrigerants are the fastest growing segment owing to non-toxic, better thermal efficiency, inflammable, environment-friendly and cheap.
 
REFRIGERATION TO GAIN MAXIMUM SHARE BY APPLICATION
Refrigeration has dominated the application segment in 2017, owing to growth in automobile, consumer durable and food & beverage sector. Refrigeration segment is expected to reach USD 13,436.5 MN by 2024. Increasing demand for the domestic air-cooling system due to the rising disposable income of the population from developed countries is fueling the market growth. Whereas, air conditioning has also widened its application areas in automotive on account of inclination of customers toward high comfort in luxury vehicles and rising global demand for mobile air conditioning solutions.
 
ASIA PACIFIC TO LEAD THE REGIONAL MARKET
In 2017, Asia Pacific is the regional leader for refrigerant market owing to rapid industrialization, high disposable income coupled with a better lifestyle is boosting the market growth. Owing to global warming, rising need of cooling systems coupled with booming economies of countries such as India & China is presumed to foster the refrigerant demand in forecasting period. 

KEY PLAYER OF THE REFRIGERANT MARKET
Major players of the refrigerant market are Daikin Industries Ltd., SRF Ltd., Honeywell International, Arkema SA, Mexichem Fluor S.A. de C.V., Dongyue Group, E.I. du Pont de Nemours & Co., Navin Fluorine International Ltd. Increasing R&D for non-flammable with low global warming potential refrigerant by Honeywell International & others will propel the market growth.

As per this study the global refrigerant market was valued at USD 14.48 BN (by revenue) in 2017 and is anticipated to reach USD 20.18 BN by 2024 with a CAGR of 4.9%. By volume, the market was estimated at XX.X KT in 2017 and is expected to reach XX.X KT by 2024 with a CAGR of X.X%.
 
A refrigerant is a fluid or a mixture which is used to carry heat in heating, ventilation, and air conditioning (HVAC) unit. They operate in the refrigeration cycle and undergo the phase transition from liquid to a gaseous state and then back to liquid. This change in refrigerant’s phase is brought by compressor and condenser units of a refrigeration system.
 
Refrigerants should have some favorable thermodynamic properties to ease their functionality in the refrigeration system. It should be non-corrosive to metals and other mechanical components; it should be non-toxic, non-flammable and should not cause damage to the ozone layer. Apart from these environmental properties of a refrigerant, its thermodynamic and thermo-physical properties like the latent heat of vaporization, specific heat, etc. are also considered, during its selection process.
 
Objectives of the Study:

  • Define and measure the global refrigerant market
  • Volume and revenue forecast of the global refrigerant market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments
 
Market Dynamics
 
Key factors driving the industry growth include the rise in nuclear families; increasing disposable income, improved in the standard of living and dual income families. In India, rapid industrialization followed by infrastructural developments along with the increasing number of passenger fuels worldwide has created new opportunities and gateways for OEM. However, few fluorochemicals, such as chlorofluorocarbons (CFCs) and bromofluorocarbons (BFCs) used majorly in refrigerants, are hazardous to the environment and cause depletion of the ozone layer. Therefore, adverse effects of CFCs and BFCs on the environment is likely to hamper the market growth.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of refrigerant.
 
Market Segmentation
 
The broad refrigerant market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
 
By Type Market Share 2017
 Refrigerant Market By Type

 
By Type
  • Fluorocarbons (Hydro Chlorofluorocarbons (HCFC), Hydro Fluorocarbon (HFC)
  • Hydrocarbons (HC) (Propane, n-butane and Isobutane)
  • Inorganics (Ammonia, Carbon Dioxide)
  • Others (Dimethyl Ether (DME) and Methyl Ethyl Ether)
 
By Application
  • Refrigeration
    • Domestic Refrigeration
    • Commercial Refrigeration
    • Transportation Refrigeration
    • Industrial Refrigeration
  • Air conditioning (AC)
    • Stationary Air Conditioning
    • Chillers
    • Mobile Air Conditioning
 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for refrigerant in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Europe Refrigerant Market By Revenue (USD MN)
 
Europe Refrigerant Market By Revenue
 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the refrigerant market includes Daikin Industries Ltd., SRF Ltd., Honeywell International, Arkema SA, Mexichem Fluor S.A. de C.V., Dongyue Group, E.I. du Pont de Nemours & Co., Navin Fluorine International Ltd. and Others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
 
METHODOLOGY:
 
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.

1. INTRODUCTION

  • Introduction To Refrigerant
  • Report Description
    • Objectives Of The Study
    • Assumptions
  • Research Scope
  • Research Methodology
    • Data Source
 
2. EXECUTIVE SUMMARY
  • Market Highlight
  • Global Refrigerant Market: Snapshot
 
3. MARKET ANALYSIS
  • Drivers
  • Restraints
  • Opportunities
  • Porter’s Five Forces Analysis
  • Value Chain Analysis
 
4. REFRIGERANT MARKET ANALYSIS BY TYPE
  • Market In Fluorocarbons (Hydro Chlorofluorocarbons (HCFC), Hydro Fluorocarbon (HFC)
  • Hydrocarbons (HC) (Propane, n-butane and Isobutane)
  • Inorganics (Ammonia, Carbon Dioxide)
  • Others (Dimethyl Ether (DME) and Methyl Ethyl Ether)
 
5. REFRIGERANT MARKET ANALYSIS BY APPLICATION
  • Market In Refrigeration
    • Market In Domestic Refrigeration
    • Market In Commercial Refrigeration
    • Market In Transportation Refrigeration
    • Market In Industrial Refrigeration
  • Market In Air conditioning (AC)
    • Market In Stationary Air Conditioning
    • Market In Chillers
    • Market In Mobile Air Conditioning
 
6. REFRIGERANT MARKET ANALYSIS BY GEOGRAPHY
  • North America (NA)
    • North America Market Estimates
    • North America Market Estimates By Country
    • United States (U.S.) Market Estimates By Segments
    • Canada Market Estimates By Segments
    • Mexico Market Estimates By Segments
  • Europe (EU)
    • Europe Market Estimates
    • Europe Market Estimates By Country
    • United Kingdom (UK) Market Estimates By Segments
    • Germany Market Estimates By Segments
    • France Market Estimates By Segments
    • Rest Of Europe Market Estimates By Segments
  • Asia Pacific (APAC)
    • Asia Pacific Market Estimates
    • Asia Pacific Market Estimates By Country  
    • China Market Estimates By Segments
    • Japan Market Estimates By Segments
    • India Market Estimates By Segments
    • Rest Of Asia Pacific Market Estimates By Segments  
  • Latin America (LA)   
    • Latin America Market Estimates
    • Latin America Market Estimates By Country
    • Brazil Market Estimates By Segments
    • Rest Of Latin America Market Estimates By Segments
  • Middle East And Africa (MEA)   
    • Middle East And Africa Market Estimates
    • Middle East And Africa Market Estimates By Country
    • Middle East Market Estimates By Segments
    • Africa Market Estimates By Segments
 
7. COMPETITIVE LANDSCAPE OF THE REFRIGERANT COMPANIES
  • Market Competition
  • Partnerships/Collaborations/Agreements
  • Mergers And Acquisitions
  • New Product Launches
  • Other Developments
 
8. COMPANY PROFILES OF THE REFRIGERANT INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
  • Daikin Industries Ltd.
  • SRF Ltd.
  • Honeywell International
  • Arkema SA
  • Mexichem Fluor S.A. de C.V.
  • Dongyue Group
  • E.I. du Pont de Nemours & Co.
  • Navin Fluorine International Ltd.
  • Others
 
* Tentative TOC
 
 
LIST OF TABLES
 
Table 1.  Market Highlights Of Refrigerant
Table 2.  Global Refrigerant Market By Type
Table 3.  Global Refrigerant Market By Application
Table 4.  Global Refrigerant Market By Geography
Table 5.  North America Refrigerant Market
Table 6.  Europe Refrigerant Market
Table 7.  Asia Pacific Refrigerant Market
Table 8.  Latin America Refrigerant Market
Table 9.  Middle East And Africa Refrigerant Market 
Table 10. Partnership/Collaboration/Agreements
Table 11. Mergers And Acquisitions
Table 12. New Product Development
Table 13. Other Developments
  

LIST OF FIGURES
 
Fig. 1.     Market Segmentation Of Refrigerant Market 
Fig. 2.     Top-Down Approach   
Fig. 3.     Bottom-Up Approach   
Fig. 4.     Market Highlights Of Refrigerant
Fig. 5.     Value Chain Analysis
Fig. 6.     Porter’s Five Forces Analysis
Fig. 7.     Global Refrigerant Market By Type
Fig. 8.     Global Refrigerant Market By Application
Fig. 9.     Global Refrigerant Market By Geography
Fig. 10.   North America Refrigerant Market
Fig. 11.   Europe Refrigerant Market
Fig. 12.   Asia Pacific Refrigerant Market
Fig. 13.   Latin America Refrigerant Market
Fig. 14.   Middle East And Africa Refrigerant Market
Fig. 15.   Market Share Of Refrigerant Companies
Fig. 16.   Recent Developments In Refrigerant Industry
 
 
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.  

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