Market Research Report

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, 2021-2028

ID:VMR11210054
March 2022
Report Formats: Electronic (PDF), MS EXCEL

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 XX BN (by revenue) in 2021 and is anticipated to reach USD XX BN by 2028 with a CAGR of XX%. By volume, the market was estimated at XX KT in 2021 and is expected to reach XX KT by 2028 with a CAGR of XX%.
 
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.
 
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
  • 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.
 
Global Refrigerant Market Share by Region (Representative Graph)
 
Global Refrigerant Market Share
 
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 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . REFRIGERANT – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 Market Attractiveness Analysis By Type
           3.7.2 Market Attractiveness Analysis By Application
           3.7.3 Market Attractiveness Analysis By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic 
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL REFRIGERANT MARKET ANALYSIS BY TYPE
       6.1 Overview by Type
       6.2 Historical and Forecast Data
       6.3 Analysis by Type
       6.4 Fluorocarbons (Hydro Chlorofluorocarbons (HCFC), Hydro Fluorocarbon (HFC) Historic and Forecast Sales by Regions
       6.5 Hydrocarbons (HC) (Propane, n-butane and Isobutane) Historic and Forecast Sales by Regions
       6.6 Inorganics (Ammonia, Carbon Dioxide) Historic and Forecast Sales by Regions
       6.7 Others (Dimethyl Ether (DME) and Methyl Ethyl Ether) Historic and Forecast Sales by Regions
 
7 . GLOBAL REFRIGERANT MARKET ANALYSIS BY APPLICATION
       7.1 Overview by Application
       7.2 Historical and Forecast Data
       7.3 Analysis by Application
       7.4 Refrigeration Historic and Forecast Sales by Regions
       7.5 Air conditioning (AC) Historic and Forecast Sales by Regions
 
8 . GLOBAL REFRIGERANT MARKET ANALYSIS BY GEOGRAPHY
       8.1. Regional Outlook
       8.2. Introduction
       8.3. North America Sales Analysis
           8.3.1. Overview, Historic and Forecast Data  Sales Analysis
           8.3.2. North America By Segment Sales Analysis
           8.3.3. North America By Country Sales Analysis
           8.3.4. United State Sales Analysis
           8.3.5. Canada Sales Analysis
           8.3.6. Mexico Sales Analysis
       8.4. Europe Sales Analysis
           8.4.1. Overview, Historic and Forecast Data  Sales Analysis
           8.4.2. Europe by Segment Sales Analysis
           8.4.3. Europe by Country Sales Analysis
           8.4.4. United Kingdom Sales Analysis
           8.4.5. France Sales Analysis
           8.4.6. Germany Sales Analysis
           8.4.7. Italy Sales Analysis
           8.4.8. Russia Sales Analysis
           8.4.9. Rest Of Europe Sales Analysis
       8.5. Asia Pacific Sales Analysis
           8.5.1. Overview, Historic and Forecast Data  Sales Analysis
           8.5.2. Asia Pacific by Segment Sales Analysis
           8.5.3. Asia Pacific by Country Sales Analysis
           8.5.4. China Sales Analysis
           8.5.5. India Sales Analysis
           8.5.6. Japan Sales Analysis
           8.5.7. South Korea Sales Analysis
           8.5.8. Australia Sales Analysis
           8.5.9. Rest Of Asia Pacific Sales Analysis
       8.6. Latin America Sales Analysis
           8.6.1. Overview, Historic and Forecast Data  Sales Analysis
           8.6.2. Latin America by Segment Sales Analysis
           8.6.3. Latin America by Country Sales Analysis
           8.6.4. Brazil Sales Analysis
           8.6.5. Argentina Sales Analysis
           8.6.6. Peru Sales Analysis
           8.6.7. Chile Sales Analysis
           8.6.8. Rest of Latin America Sales Analysis
       8.7. Middle East & Africa Sales Analysis
           8.7.1. Overview, Historic and Forecast Data  Sales Analysis
           8.7.2. Middle East & Africa by Segment Sales Analysis
           8.7.3. Middle East & Africa by Country Sales Analysis
           8.7.4. Saudi Arabia Sales Analysis
           8.7.5. UAE Sales Analysis
           8.7.6. Israel Sales Analysis
           8.7.7. South Africa Sales Analysis
           8.7.8. Rest Of Middle East And Africa Sales Analysis
 
9 . COMPETITIVE LANDSCAPE OF THE REFRIGERANT COMPANIES
       9.1. Refrigerant Market Competition
       9.2. Partnership/Collaboration/Agreement
       9.3. Merger And Acquisitions
       9.4. New Product Launch
       9.5. Other Developments
 
10 . COMPANY PROFILES OF REFRIGERANT INDUSTRY
       10.1. Company Share Analysis
       10.2. Market Concentration Rate
       10.3. Daikin Industries Ltd.
           10.3.1. Company Overview
           10.3.2. Company Revenue
           10.3.3. Products
           10.3.4. Recent Developments
       10.4. SRF Ltd.
           10.4.1. Company Overview
           10.4.2. Company Revenue
           10.4.3. Products
           10.4.4. Recent Developments
       10.5. Honeywell International
           10.5.1. Company Overview
           10.5.2. Company Revenue
           10.5.3. Products
           10.5.4. Recent Developments
       10.6. Arkema SA
           10.6.1. Company Overview
           10.6.2. Company Revenue
           10.6.3. Products
           10.6.4. Recent Developments
       10.7. Mexichem Fluor S.A. de C.V.
           10.7.1. Company Overview
           10.7.2. Company Revenue
           10.7.3. Products
           10.7.4. Recent Developments
       10.8. Dongyue Group
           10.8.1. Company Overview
           10.8.2. Company Revenue
           10.8.3. Products
           10.8.4. Recent Developments
       10.9. E.I. du Pont de Nemours & Co.
           10.9.1. Company Overview
           10.9.2. Company Revenue
           10.9.3. Products
           10.9.4. Recent Developments
       10.10. Navin Fluorine International Ltd
           10.10.1. Company Overview
           10.10.2. Company Revenue
           10.10.3. Products
           10.10.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
LIST OF TABLES

 

  •  Market Snapshot
  •  Drivers : Impact Analysis
  •  Restraints : Impact Analysis
  •  List of Raw Material
  •  List of Raw Material Manufactures
  •  List of Potential Buyers
  •  COVID-19 Impact Analysis by Production, Import, Export and Demand
  •  Pre V/S Post COVID-19
  •  Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  •  COVID-19: Micro and Macro Factor Analysis
  •  Analysis by Type (Kilo Tons and USD MN)
  •  Fluorocarbons (Hydro Chlorofluorocarbons (HCFC), Hydro Fluorocarbon (HFC) Market Sales by Geography (Kilo Tons and USD MN)
  •  Hydrocarbons (HC) (Propane, n-butane and Isobutane) Market Sales by Geography (Kilo Tons and USD MN)
  •  Inorganics (Ammonia, Carbon Dioxide) Market Sales by Geography (Kilo Tons and USD MN)
  •  Others (Dimethyl Ether (DME) and Methyl Ethyl Ether) Market Sales by Geography (Kilo Tons and USD MN)
  •  Analysis Market by Application (Kilo Tons and USD MN)
  •  Refrigeration Market Sales by Geography (Kilo Tons and USD MN)
  •  Air conditioning (AC) Market Sales by Geography (Kilo Tons and USD MN)
  •  Global Refrigerant Market Sales by Geography (Kilo Tons and USD MN)
  •  North America Market Analysis (Kilo Tons and USD MN)
  •  United State Market Analysis (Kilo Tons and USD MN)
  •  Canada Market Analysis (Kilo Tons and USD MN)
  •  Mexico Market Analysis (Kilo Tons and USD MN)
  •  Europe Market Analysis (Kilo Tons and USD MN)
  •  Europe Market Estimate by Country (Kilo Tons and USD MN)
  •  United Kingdom Market Analysis (Kilo Tons and USD MN)
  •  France Market Analysis (Kilo Tons and USD MN)
  •  Germany Market Analysis (Kilo Tons and USD MN)
  •  Italy Market Analysis (Kilo Tons and USD MN)
  •  Russia Market Analysis (Kilo Tons and USD MN)
  •  Spain Market Analysis (Kilo Tons and USD MN)
  •  Rest of Europe Market Analysis (Kilo Tons and USD MN)
  •  Asia Pacific Market Analysis (Kilo Tons and USD MN)
  •  China Market Analysis (Kilo Tons and USD MN)
  •  Japan Market Analysis (Kilo Tons and USD MN)
  •  India Market Analysis (Kilo Tons and USD MN)
  •  South Korea Market Analysis (Kilo Tons and USD MN)
  •  Australia Market Analysis (Kilo Tons and USD MN)
  •  Rest of Asia Pacific Market Analysis (Kilo Tons and USD MN)
  •  Latin America Market Analysis (Kilo Tons and USD MN)
  •  Brazil Market Analysis (Kilo Tons and USD MN)
  •  Argentina Market Analysis (Kilo Tons and USD MN)
  •  Peru Market Analysis (Kilo Tons and USD MN)
  •  Chile Market Analysis (Kilo Tons and USD MN)
  •  Rest of Latin America Market Analysis (Kilo Tons and USD MN)
  •  Middle East & Africa Market Analysis (Kilo Tons and USD MN)
  •  Saudi Arabia Market Analysis (Kilo Tons and USD MN)
  •  UAE Market Analysis (Kilo Tons and USD MN)
  •  Israel Market Analysis (Kilo Tons and USD MN)
  •  South Africa Market Analysis (Kilo Tons and USD MN)
  •  Rest of Middle East and Africa Market Analysis (Kilo Tons and USD MN)
  •  Partnership/Collaboration/Agreement
  •  Mergers And Acquisiton
 
 LIST OF FIGURES
 
  •  Research Scope of Refrigerant Report
  •  Market Research Process
  •  Market Research Methodology
  •  Global Refrigerant Market Size, by Region (Kilo Tons and USD MN)
  •  Porters Five Forces Analysis
  •  Market Attractiveness Analysis by Type
  •  Market Attractiveness Analysis by Application
  •  Market Attractiveness Analysis by Region
  •  Value Chain Analysis
  •  Global Market Analysis by Type (Kilo Tons and USD MN)
  •  Fluorocarbons (Hydro Chlorofluorocarbons (HCFC), Hydro Fluorocarbon (HFC) Market Sales by Geography (Kilo Tons and USD MN)
  •  Hydrocarbons (HC) (Propane, n-butane and Isobutane) Market Sales by Geography (Kilo Tons and USD MN)
  •  Inorganics (Ammonia, Carbon Dioxide) Market Sales by Geography (Kilo Tons and USD MN)
  •  Others (Dimethyl Ether (DME) and Methyl Ethyl Ether) Market Sales by Geography (Kilo Tons and USD MN)
  •  Global Market Analysis by Application (Kilo Tons and USD MN)
  •  Refrigeration Market Sales by Geography (Kilo Tons and USD MN)
  •  Air conditioning (AC) Market Sales by Geography (Kilo Tons and USD MN)
  •  Global Market Sales (Kilo Tons and USD MN)
  •  North America Market Sales (Kilo Tons and USD MN)
  •  Europe Market Sales (Kilo Tons and USD MN)
  •  Asia Pacific Market Sales (Kilo Tons and USD MN)
  •  Latin America Market Sales (Kilo Tons and USD MN)
  •  Middle East & Africa Market Sales (Kilo Tons and USD MN)
  •  Recent Development in Industry
  •  Top 10 Company Market Share Analysis
 
 * 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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Objectives of Study

  • Define and measure the global market
  • Volume or revenue forecast of the global 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
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  • Analyze competitive developments

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