Refrigerant Market Size, Share, Trends 2018 | Global Key Players - DAIKIN INDUSTRIES, The Chemours Company, Honeywell International, Arkema S.A., Dongyue Group Co., Sinochem Group, Mexichem S.A.B. de C.V., The Linde Group, SRF Limited and DowDuPont Inc

Market Segmentation

The Global Refrigerant Market is segmented by Type, Application and Region.

On the Basis of the Type, the Global Refrigerant Market is segmented into natural refrigerants and synthetic refrigerants. Natural refrigerants are further segmented into organic/hydrocarbons and inorganic refrigerants. Hydrocarbons are further segmented into propane, n-butane, iso-butane, and others. Similarly, inorganic hydrocarbons are also sub-segmented into ammonia, CO2, water, and others. Synthetic refrigerants/fluorocarbons are segmented into two types namely pure fluorocarbons and fluorocarbon blends. Pure fluorocarbons are further segmented into chlorofluorocarbons (CFCs), hydrofluorocarbons (HCFCs), hydrofluorocarbons (HFCs), hydrofluoro Olefins (HFO) and others. Similarly, fluorocarbon blends are also segmented into two type’s, i.e., azeotropic and zeotropic (non-azeotropic). HFC, HFO, HFC/HFO blends and natural refrigerants are expected to witness high growth during the forecast period, 2017-2023 due to their eco-friendly properties, low GWP, and low ODS potential compared to synthetic counterparts.

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On the Basis of the Application, the Global Refrigerant Market is segmented into refrigerators, air conditioners, chillers/heat pump, and others. Refrigerators are sub-segmented into domestic refrigerators, commercial refrigerators (medium scale), industrial & supermarket refrigerator (large scale), and transport refrigerator. Air conditioners (AC) are further segmented into centralized AC, split AC, window AC, portable AC, and hybrid AC. Air conditioners are projected to be the largest market for Refrigerants in the forecast period due to the rising disposable incomes; rising standard of living, rapid technological advancements, and upcoming infrastructure projects on transport networks, and commercial & residential projects in the emerging economies.

Regional Analysis

The Global Refrigerant Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is the major region in the global market. The Middle East & Africa is expected to show rising demand over the forecast period. North America and Europe is expected to show steady demand, which is further trailed by Latin America. Rising disposable income, changing lifestyle, upcoming transportation, domestic & commercial projects in the emerging economies are primarily driving the demand for air conditioners and refrigerators. Therefore, it is positively impacting the Global Refrigerant Market. Furthermore, growing industrialization across the globe is expected to drive the demand for chillers/heat pump.

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