Refrigerants Market: Hitting New Heights between the Forecast Period 2020 -2026 | Daikin Industries, Asahi Glass Corporation, The Chemours Comp, and more.

The Global Refrigerants Market is forecast to reach USD 37.69 Billion by 2026, according to a new report by Reports and Data. The market is rising rapidly in the global market due to the high demand from the air-conditioner, refrigerator, and other electronics appliances manufacturing industries. The eco-friendly segments are driving the market growth as the consumers and the manufacturers are being concerned with global warming and ozone layer depletion caused by the non-eco-friendly segment.

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The air conditioner segment had the highest market share of 38.2% in the year 2018. Global warming is increasing the average surface temperature of Earth and the consumers from the developing economy are slowly being capable of affording an air conditioner. The temperate and desert regions in the world are mostly adopting the air conditioner and the refrigerators at a large scale.

Companies considered and profiled in this market study
Daikin Industries, Ltd., Asahi Glass Corporation, The Chemours Company, Sinochem Group, Honeywell International Inc., Gujarat Fluorochemicals Limited, Airgas Refrigerants Inc., Linde Group, Mexichem, SRF Limited.

Further key findings from the report suggest

1. Refrigerators undergo the refrigeration cycles and cools down the interior of a refrigerator and keeps food kept in the fridge fresh. The refrigerators has a large market share of about 30.0% in 2018. The segment is forecasted to grow high during the forecast period due to the rise in average temperature for global warming worldwide and increase in the rate of per-capita income in the developing countries.

2. Electronic Devices get heated up after continuous and extended period of usage. This, in turn deteriorates the performance of the processing unit and slows down the device. The refrigerant is being used inside the electronic gadgets which undergoes a cycle of cooling. In the recent trend, the gaming and high-end smartphones are incorporating the water cooling inside the mobiles. About USD 0.72 Billion revenue is forecasted for the electronics devices segment by 2026.

3. Chlorofluorocarbons (CFCs) were the first used refrigerants and had been extensively used because of being non-toxic and non-flammable in the previous century. Some governments have put up a regulation against the use of CFCs. However, some manufacturers in different part of the world still uses this type for cost cutting. R11, R12, R13, R500, R502, R503 are some of the examples under the group of CFC. This segment is gradually being diminished and the market share will be about 5.8% by the year 2026.

4. The inorganic segment are quite easy to get and cheap compared to other organic ones. Ammonia, Carbon Dioxide, Water, are some of the examples of inorganics. These have zero ozone depletion potential and also negligible effects on the global warming. The segment is growing with a CAGR of 8.7% in the forecast period.

5. European region is forecasted to witness significant growth in the overall market, with 17.6% of market possession by 2026 and CAGR of 6.0% during the forecast period.

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For the purpose of this report, Reports and Data have segmented the global refrigerants market on the basis of the type of refrigerants, geographical impact, applications, and region:
Type of Refrigerants Outlook (Revenue, USD Billion; 2016-2026)
CFCs
HCFCs
HFCs
Hydrocarbons
Inorganic Refrigerants
Mixtures

Geographical Impact Outlook (Revenue, USD Billion; 2016-2026)
Eco-Friendly
Non Eco-Friendly

Applications Outlook (Revenue, USD Billion; 2016-2026)
Air Conditioners
Refrigerators
Chillers
Heat Pumps
Electronics Devices

Regional Outlook (Revenue, USD Billion; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

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