Worldwide Refrigerant Industry to 2024 - Rising Demand for Commercial Air Conditioners is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Refrigerant Market (Product Type, Application & Region): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The global refrigerant market is expected to record a value of US$19.57 billion in 2024, increasing at a CAGR of 5.20%, for the duration spanning 2020-2024.

Companies Mentioned

• Arkema
• Dongyue Group
• Honeywell Daikin Industries
• Orbia
• The Chemours Company

The factors such as increasing sales of refrigerators, growing production of motor vehicles, rising demand for commercial air conditioners, growing adoption of portable fire extinguishers1 and increased industrialization in emerging economies would drive growth of the market. However, the market growth would be challenged by illegal trade of refrigerants, safety drawbacks of refrigerants and stringent regulations against fluorocarbon refrigerants. A few notable trends may include increasing use of dehumidifiers, accelerating R&D spending in energy sector, rising demand for natural refrigerants and use of IoT-enabled refrigeration solutions for equipment monitoring.

The global refrigerant market is fragmented, on the basis of product type, into fluorocarbon, hydrocarbon, inorganic and others. The market is dominated by fluorocarbon refrigerants due to their increased demand for the production of AC and refrigerator units, because of their advantages of stability, non-flammability and low toxicity. Further, the market share of hydrocarbon refrigerants is also growing at a considerable pace, which is providing a lucrative growth opportunity to the global refrigerant market.

The fastest regional market is the Asia Pacific, due to the heavy consumption as well as the production of refrigerant gases in China. China has been one of the top suppliers of raw materials to most of the countries, resulting in the increased export of refrigerants to the countries like India and the U.S., which led to the overall growth of the refrigerants market. Further, the sudden outbreak of the COVID-19 pandemic is resulting in economic disruption all along with the temporary suspension of the industrial as well as commercial activities, which is likely to cause a decline in the global refrigerant market in the initial phase of the forecasted period.

Scope of the report:

• The report provides a comprehensive analysis of the global refrigerants market.
• The major regional markets (Asia Pacific, North America, Europe and ROW, along with the country coverage of India and the U.S.) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Honeywell Daikin Industries, Arkema, Orbia, The Chemours Company and Dongyue Group) are also presented in detail.

Key Topics Covered:

1. Market Overview

1.1 An Introduction

1.2 Properties of Refrigerants

1.3 Types of Refrigerants

1.4 Generations of Refrigerants

1.5 Natural Refrigerants Properties

2. Impact of COVID-19

2.1 Decline in Sales of Passenger Cars

2.2 Decline in the International Trade

2.3 Impact on Chemical Industry

2.4 Impact on HVACR Industry

3. Global Market Analysis

3.1 Global Refrigerant Market by Value

3.2 Global Refrigerant Market Forecast by Value

3.3 Global Refrigerant Market by Product Type

3.3.1 Global Fluorocarbon Refrigerants Market by Value

3.3.2 Global Fluorocarbon Refrigerants Market Forecast by Value

3.3.3 Global Hydrocarbon Refrigerants Market by Value

3.3.4 Global Hydrocarbon Refrigerants Market Forecast by Value

3.3.5 Global Inorganic Refrigerants Market by Value

3.3.6 Global Inorganic Refrigerants Market Forecast by Value

3.4 Global Refrigerant Market by Application

3.4.1 Global Air-conditioning Systems Refrigerants Market by Value

3.4.2 Global Air-conditioning Systems Refrigerants Market Forecast by Value

3.4.3 Global Refrigeration Systems Refrigerants Market by Value

3.4.4 Global Refrigeration Systems Refrigerants Market Forecast by Value

3.5 Global Refrigerant Market by Regions

4. Regional Market Analysis

4.1 Asia Pacific

4.2 North America

4.3 Europe

4.4 ROW

5. Market Dynamics

5.1 Growth Drivers

5.1.1 Increasing Sales of Refrigerators

5.1.2 Growing Production of Motor Vehicles

5.1.3 Escalating Cold Chain Market

5.1.4 Rising Demand for Commercial Air Conditioners

5.1.5 Growing Adoption of Portable Fire Extinguisher

5.2.6 Increased Industrialization in Emerging Economies

5.2 Key Trends and Developments

5.2.1 Increasing Use of Dehumidifiers

5.2.2 Accelerating R&D Spending in Energy Sector

5.2.3 Growing Demand for Natural Refrigerants

5.3.4 Use of IoT-Enabled Refrigeration Solutions For Equipment Monitoring

5.3 Challenges

5.3.1 Illegal Trade of Refrigerants

5.3.2 Safety Drawbacks of Refrigerants

5.3.3 Stringent Regulations Against Fluorocarbon Refrigerants

6. Competitive Landscape

6.1 Global Market

6.1.1 Key Players - Revenue Comparison

6.1.2 Key Players - Market Cap Comparison

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/zdta7x