Refrigerants Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Refrigerants Market: By Product Type (Fluorocarbon, Hydrocarbon, Inorganic, Others), By Application (Industrial Refrigeration, Domestic Refrigeration, Transport Refrigeration, Commercial Refrigeration, Stationary Air Conditioning, Chillers & Heat Pumps, Mobile Air Conditioning) and Geography

 

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Report

Description

Refrigerants Market size was valued at USD 22.9 billion in 2021 and is expected to reach USD 38.6 billion by 2028, at a CAGR of 7.7% during the forecast period 2022-2028. Rising awareness regarding global warming and ozone depletion coupled with increase in demand for energy-efficient cooling solutions is anticipated to fuel the refrigerant market during the forecast period. Global phase-down of production and consumption of hydro-fluorocarbons (HFCs), one of the six greenhouse gases (GHGs) has led to an increased demand for natural refrigerants. The hydrocarbon and inorganic segments are, therefore, anticipated to attest significant growth in the market. Increased industrialization in emerging economies such as China, India, and Japan has led to establishment of a large number of data centers, subsequently fueling demand for refrigerants. However, stringent regulation stifles the growth of market. The report studies Global Refrigerants market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Global Refrigerants market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Refrigerants market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities).  The key players in the global market have adopted acquisition, expansion, product launch, technological advancements, and partnerships as their business strategies to sustain the intense competition. Refrigerant giants have focused on market strategies such as product launch and expansion to strengthen their brand image in the market. Honeywell International is a pioneer in developing low GDP and OWP blends. Innovations such as these are expected to inspire other industry players to invest significantly in R&D and production of environment-friendly products to meet stringent regulatory specifications and changing consumer preferences.

Refrigerants Market

MARKET SUMMARY
-
7.7%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.7%
  • Largest Market– North-America
  • Fastest Growing Market– Asia-Pacific

Refrigerants Market

  • The global refrigerants market report gives comprehensive outlook on Refrigerants market across the regions like North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
  • The report on Global Refrigerants market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country.
  • Key stakeholders of the global Refrigerants market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Key Players
  • Honeywell International
  • Daikin Industries Limited
  • Dongyue Group
  • Arkema S.A.
  • Linde Group
Refrigerants Market

DRIVERS AND RESTRAINTS

Cold chain is temperature-controlled supply chain, uninterrupted storage, and distribution activities, which maintain a given temperature range. Cold chain market operations that are meant to extend and ensure the shell life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs are expected to rapidly increase. This rapid increase is due to the growing demand from the consumers resulting from changing lifestyles and growing advanced technologies. With increasing consumer demand for frozen food products and presence of highly competitive market with low margins, most of the food processors, distributors, and retailers are shifting from the manually operated obsolete facilities to high bay deep-freeze warehouses where refrigerants are widely employed. Moreover, the expansion of food retail chains by multinational companies and the growth in international trade due to trade liberalization have led to an increase in the demand for the cold chain processes, and in turn, increase demand for refrigerants across the world.


Asia-Pacific got Significant Share

Refrigerants Market

Asia Pacific emerged as the leading consumer in 2018, expected to continue the same in future. It is projected to be the fastest growing region due to various macro-economic factors. Europe is the second-largest regional segment in terms of consumption owing to strong demand from mobile air conditioning, industrial, and commercial segments.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Findings of the Report

Global refrigerants market expanding at significant CAGR over 2022 to 2028 to reach market value of US$ XX Mn by 2028 owing to the rising demand for refrigerants  .

  • Based on application, air conditioning segment accounted for larger market revenue share in 2021 and projected gain market revenue share over the forecast period
  • Players focusing on mergers and acquisitions strategies to retain market position in Global Refrigerants market

Key

Features of the Report

Refrigerants Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content

  1. Executive Summary
  2. Global Refrigerant Market Introduction

2.1. Global Refrigerant Market – Taxonomy

2.2. Global Refrigerant Market –Definitions

2.2.1. Product Type

2.2.2. Application

  1. Global Refrigerant Market Dynamics

3.1. Drivers

3.2. Restraints

3.3. Opportunities/Unmet Needs of the Market

3.4. Trends

3.5. Global Refrigerant    Market Dynamic Factors – Impact Analysis

3.6. Global Refrigerant    Market – Competition Landscape

  1. Global Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2018 – 2025

4.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)

4.3. Market Opportunity Analysis

  1. Global Refrigerant Market, By Product Type, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

5.1. Fluorocarbon

5.1.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.1.3. Market Opportunity Analysis

5.2. Hydrocarbons

5.2.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.2.3. Market Opportunity Analysis

5.3. Inorganic

5.3.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.3.3. Market Opportunity Analysis

5.4. Others

5.4.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

5.4.3. Market Opportunity Analysis

  1. Global Refrigerant Market, By Application, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.1. Industrial Refrigeration

6.1.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.1.3. Market Opportunity Analysis

6.2. Domestic Refrigeration

6.2.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.2.3. Market Opportunity Analysis

6.3. Transport Refrigeration

6.3.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.3.3. Market Opportunity Analysis

6.4. Commercial Refrigeration

6.4.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.4.3. Market Opportunity Analysis

6.5. Stationary Air Conditioning

6.5.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.5.3. Market Opportunity Analysis

6.6. Chillers and Heat Pumps

6.6.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.6.3. Market Opportunity Analysis

6.7. Mobile Air Conditioning

6.7.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

6.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

6.7.3. Market Opportunity Analysis

  1. Market Opportunity AnalysisGlobal Refrigerant  Market Forecast, By Region, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.1. North America

7.1.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.1.3. Market Opportunity Analysis

7.2. Europe

7.2.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.2.3. Market Opportunity Analysis

7.3. Asia-Pacific

7.3.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.3.3. Market Opportunity Analysis

7.4. Latin America

7.4.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.4.3. Market Opportunity Analysis

7.5. Middle East and Africa

7.5.1. Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)

7.5.3. Market Opportunity Analysis

7.6. Global Refrigerant    Market – Opportunity Analysis Index, By Product Type, Application, and Region, 2018 – 2025

  1. North America Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

8.1. By Product Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

8.1.1. Fluorocarbon

8.1.2. Hydrocarbon

8.1.3. Inorganic

8.1.4. Others

8.2. By Application Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

8.2.1. Industrial Refrigeration

8.2.2. Domestic Refrigeration

8.2.3. Transport Refrigeration

8.2.4. Commercial Refrigeration

8.2.5. Stationary Air Conditioning, Chillers & Heat Pumps

8.2.6. Mobile Air Conditioning

8.3. Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT) Y-o-Y Growth (%) and Market Share (%)

8.3.1. U.S.

8.3.2. Canada

8.4. North America Refrigerant Market – Opportunity Analysis Index, By Product Type, Application, and Country, 2019 – 2025

8.5. North America Refrigerant Market Dynamics – Trends

  1. Europe Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

9.1. By Product Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

9.1.1. Fluorocarbon

9.1.2. Hydrocarbon

9.1.3. Inorganic

9.1.4. Others

9.2. By Application Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

9.2.1. Industrial Refrigeration

9.2.2. Domestic Refrigeration

9.2.3. Transport Refrigeration

9.2.4. Commercial Refrigeration

9.2.5. Stationary Air Conditioning, Chillers & Heat Pumps

9.2.6. Mobile Air Conditioning

9.3. Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT) Y-o-Y Growth (%) and Market Share (%)

9.3.1. Germany

9.3.2. UK

9.3.3. France

9.3.4. Russia

9.3.5. Spain

9.3.6. Italy

9.3.7. Rest of Europe

9.4. Europe Refrigerant Market – Opportunity Analysis Index, By Product Type, Application, and Country, 2019 – 2025

9.5. Europe Refrigerant    Market Dynamics – Trends

  1. Asia-Pacific Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

10.1. By Product Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

10.1.1. Fluorocarbon

10.1.2. Hydrocarbon

10.1.3. Inorganic

10.1.4. Others

10.2. By Application Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

10.2.1. Industrial Refrigeration

10.2.2. Domestic Refrigeration

10.2.3. Transport Refrigeration

10.2.4. Commercial Refrigeration

10.2.5. Stationary Air Conditioning, Chillers & Heat Pumps

10.2.6. Mobile Air Conditioning

10.3. Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT) Y-o-Y Growth (%) and Market Share (%)

10.3.1. Japan

10.3.2. China

10.3.3. India

10.3.4. ASEAN

10.3.5. Australia & New Zealand

10.3.6. Rest of Asia-Pacific

10.4. Asia-Pacific Refrigerant Market – Opportunity Analysis Index, By Product Type, Application, and Country, 2019 – 2025

10.5. Asia-Pacific Refrigerant Market Dynamics – Trends

  1. Latin America Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

11.1. By Product Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

11.1.1. Fluorocarbon

11.1.2. Hydrocarbon

11.1.3. Inorganic

11.1.4. Others

11.2. By Application Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

11.2.1. Industrial Refrigeration

11.2.2. Domestic Refrigeration

11.2.3. Transport Refrigeration

11.2.4. Commercial Refrigeration

11.2.5. Stationary Air Conditioning, Chillers & Heat Pumps

11.2.6. Mobile Air Conditioning

11.3. Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT) Y-o-Y Growth (%) and Market Share (%)

11.3.1. Brazil

11.3.2. Mexico

11.3.3. Argentina

11.3.4. Venezuela

11.3.5. Rest of Latin America

11.4. Latin America Refrigerant Market – Opportunity Analysis Index,  By Product Type, Application, and Country, 2018 – 2025

11.5. Latin America Refrigerant Market Dynamics – Trends

  1. Middle East and Africa Refrigerant  Market Analysis, 2014 – 2018 and Forecast, 2019 – 2025 (Revenue, USD Mn) Volume (000’ MT)

12.1. By Product Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

12.1.1. Fluorocarbon

12.1.2. Hydrocarbon

12.1.3. Inorganic

12.1.4. Others

12.2. By Application Type Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT), Y-o-Y Growth (%) and Market Share (%)

12.2.1. Industrial Refrigeration

12.2.2. Domestic Refrigeration

12.2.3. Transport Refrigeration

12.2.4. Commercial Refrigeration

12.2.5. Stationary Air Conditioning, Chillers & Heat Pumps

12.2.6. Mobile Air Conditioning

12.3. Country Analysis 2014 – 2018 and Forecast 2019 – 2025 by (Revenue, USD Mn) Volume (000’ MT) Y-o-Y Growth (%) and Market Share (%)

12.3.1. Gulf Cooperation Council (GCC) Countries

12.3.2. Israel

12.3.3. South Africa

12.3.4. Rest of MEA

12.4. MEA Refrigerant Market – Opportunity Analysis Index, By Product Type, Application, and Country, 2019 – 2025

12.5. MEA Refrigerant Market Dynamics – Trends

  1. Competition Landscape

13.1. Strategic Dashboard of Top Market Players

13.2. Company Profiles (Introduction, Financial Analysis, Drug Class & Service Offerings, Key Developments, Strategies, and SWOT Analysis)

13.2.1. Honeywell International

13.2.2. Daikin Industries Limited

13.2.3. Dongyue Group

13.2.4. Arkema S.A.

13.2.5. Linde Group

13.2.6. Mexichem SAB de C.V.

13.2.7. Sinochem Group

13.2.8. Air Liquide,

13.2.9. The Chemours Company

  1. Research Methodology
  2. Key Assumptions and Acronyms

Description

Refrigerants Market size was valued at USD 22.9 billion in 2021 and is expected to reach USD 38.6 billion by 2028, at a CAGR of 7.7% during the forecast period 2022-2028. Rising awareness regarding global warming and ozone depletion coupled with increase in demand for energy-efficient cooling solutions is anticipated to fuel the refrigerant market during the forecast period. Global phase-down of production and consumption of hydro-fluorocarbons (HFCs), one of the six greenhouse gases (GHGs) has led to an increased demand for natural refrigerants. The hydrocarbon and inorganic segments are, therefore, anticipated to attest significant growth in the market. Increased industrialization in emerging economies such as China, India, and Japan has led to establishment of a large number of data centers, subsequently fueling demand for refrigerants. However, stringent regulation stifles the growth of market. The report studies Global Refrigerants market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Global Refrigerants market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Refrigerants market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities).  The key players in the global market have adopted acquisition, expansion, product launch, technological advancements, and partnerships as their business strategies to sustain the intense competition. Refrigerant giants have focused on market strategies such as product launch and expansion to strengthen their brand image in the market. Honeywell International is a pioneer in developing low GDP and OWP blends. Innovations such as these are expected to inspire other industry players to invest significantly in R&D and production of environment-friendly products to meet stringent regulatory specifications and changing consumer preferences.

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