Global Refrigerant Market 2023: Key Players Include AGC, Honeywell International, The Chemours Company, and More - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Refrigerant Market, By Type; By Application - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

The global refrigerant market plays a pivotal role in climate control across various sectors. In 2022, the market value was US$ 20,331.7 Mn with a market volume of 2,280.3 Kilo Tons. Based on current growth trends, the market value is projected to reach US$ 34,791.8 Mn by 2030, with a Value Compound Annual Growth Rate (CAGR) of 7.30%. Volume growth is expected at a CAGR of 7.99% during the same period.

Growth Influencers:

The robust expansion of the Cold Chain Market, driven by increasing demand for temperature-controlled storage and transportation facilities for perishable goods, is a key driver for the global refrigerant market's growth. However, strict regulations against the use of fluorocarbon refrigerants due to environmental concerns pose a restraint. Industries are urged to seek more eco-friendly alternatives due to these regulations.

Segment Overview:

The refrigerant market is segmented by type, application, and sales channel.

By Type:

• HCFCs
• HFCs
• HFOs
• Isobutane
• Propane
• Ammonia
• Carbon Dioxide
• Others

Ammonia holds a growth opportunity of more than US$ 4,250 Mn for 2022-2030.

By Application:

• Refrigeration (Domestic, Commercial, Industrial)
• Chillers
• Air conditioning systems (Window, Split Acs, VRF)
• Heat Pumps
• Others (Packaged Terminal, Packaged Rooftop)

Refrigeration holds more than 35% of the market share in 2022. The Air conditioning systems segment is expected to surpass US$ 8,600 Mn by 2028.

By Sales Channel:

• Domestic Household Refrigeration
• Light Commercial Refrigeration
• Commercial Racks and Condensing Units
• Industrial Refrigeration

Commercial Racks and Condensing Units hold the largest market share, accounting for close to 40% in 2022.

Regional Overview:

Geographically, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America held the largest market share of over 35% in 2022 and is projected to expand at the fastest CAGR of over 7.5%.

Report Insight:

• Comprehensive market analysis focusing on key growth influencers
• Detailed segmentation overview with significant data points
• In-depth regional overview considering market share and growth rate
• Extensive profiling of major market players and their strategies

Key Questions:

• What are the growth prospects of the global refrigerant market from 2023-2030?
• What are the key market segments and their characteristics?
• How does the regulatory landscape influence the market?
• Who are the major players in the market and what strategic initiatives do they undertake?

Selected Companies Mentioned in the Report:

• AGC Inc.
• Air Liquide
• Arkema S.A.
• Asahi Glass Corporation
• Changshu Sanaifu Zhonghao Chemical New Material Co., Ltd.
• Daikin Industries Ltd.
• Dongyue Group Co. Ltd.
• Gas Servei
• Honeywell International, Inc.
• Mexichem S.A.B. de C.V.
• Shandong Yue'an Chemical Co., Ltd
• SINOCHEM GROUP CO., LTD.
• SRF Limited
• Tazzetti S.p.A.
• The Chemours Company
• The Linde Group
• Zhejiang Fotech International Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/45qot5

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