The factors such as increasing demand for the customer appliances like the motor vehicle air conditioners and the refrigerators, growing cold chain market significantly for the food industry, and also increasing demand for the natural refrigerants has been responsible for the growth of the refrigerants market during the forecast period.
New York, January 2022: Axiom Market Research & Consulting™ added a report on refrigerants market which includes study on type, application, and geography. Refrigerants Market was projected to grow at a CAGR of 7.63 % for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the refrigerants market.
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The report analyses the refrigerants market based on the type, application and geography. By type, the refrigerants market is segmented into HCFCs, HFCs, HFOs, Isobutane, Propane, Ammonia, and Carbon Dioxide. By Application, the refrigerants market is segmented into refrigeration, chillers, air-conditioning systems, and mac. Geographically, the refrigerants market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World.
The key players in the refrigerants market are A-Gas, Arkema Group (Bostik SA), Daikin Industries Ltd, Dongyue Group Co. Ltd, Harp International Ltd, Honeywell International Inc., Hudson Technologies, LINDE Plc, Mexichem S.A.B. de CV, Navin Fluorine International Ltd, Sinochem Group, SRF Limited and The Chemours Company among others.
Regional Trends of Refrigerants Market
Based on the geography, the refrigerants market is studied for the regions including North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is estimated to gain high market share in the refrigerants market during the forecast period. The factors like growing population, rapid urbanization, applications in the commercial, industrial and residential, increase in the disposable income has been boosting the growth of the market in the region. North America is expected to witness fast growth in the refrigerants market during the forecast period. The factors like technological advancement, increasing consumer demand for the refrigerated beverages and food has been contributing to the growth of the market in the region during the forecast period.
Refrigerants Market Segmentation Highlights
- Ammonia type segment is estimated to witness fast growth in the refrigerants market during the forecast period. The factors like demand for ammonia because of its low cost, required low operating costs has been driving the growth of the segment during the forecast period.
- Refrigeration application segment is expected to dominate the refrigerants market during the forecast period. The factors like increasing consumers in the supermarket and hypermarket has been propelling the demand for the segment in market during the forecast period.
- Asia Pacific is estimated to have high market share in the refrigerants market during the forecast period. The factors like increasing population and rapid urbanization has been contributing to the growth of the market in region during the forecast period.
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Research Objectives of Refrigerants Market Report:
- Analysing the outlook of the refrigerants market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the refrigerants market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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