The refrigerants market is projected to reach USD 18.05 billion by 2022, at a CAGR of 4.5% between 2017 and 2022.
The drivers for this market are the increasing demand for consumer appliances such as refrigeration and air-conditioning equipment and growing cold chain market. Factors such as growth in organized retail framework, shift towards horticultural crops, and growth in the processed food sector also contribute to the growth in demand for refrigerants. Increasing regulations against the use of fluorocarbon refrigerants and flammability and toxicity issues are expected to be restraints for the refrigerants market. Owing to increasing regulations on the use of fluorocarbons, the refrigerants market is expected to witness an increase in demand for natural refrigerants, which in turn, is expected to be an opportunity in the refrigerants market.
Fluorocarbons-The largest refrigerant type in the refrigerants market in 2016
Fluorocarbon refrigerants lead the overall refrigerants market. However, with several countries agreeing to completely phase out the usage of fluorocarbons by 2047, the market for this segment is expected to witness a decline. The European Union (EU) has already stopped the usage of HCFCs in cooling equipment manufactured after 2000. Thus, the hydrocarbon refrigerants segment is expected to be the fastest-growing refrigerant type owing to its low environmental impact and long term viability.
- A-Gas International
- Air Liquide (Airgas Refrigerants Inc.)
- Arkema Sa
- Asahi Glass Corporation (AGC)
- Changsu 3F Fluorochemical Industry Co Ltd
- Daikin Industries Limited
- Dongyue Group Co. Ltd.
- Gas Servei S.A.
- Gujarat Fluorochemicals Ltd.
- Harp International
- Honeywell International Inc.
- Navin Fluorine International Ltd
- Oz-Chill Refrigerants
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Refrigerants Market By Type
7 Refrigerants Market, By Application
8 Refrigerants Market, By Region
9 Competitive Landscape
10 Company Profiles
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