Press release
2021 Refrigerant Market was valued is anticipated to grow at a CAGR of 4.2% from 2020-2027 | Carrier, Trane, Johnson controls, Daikin
Refrigerants are mostly used as a cooling medium in the air-conditioning and refrigeration industry. Refrigerants are used in cooling equipment such as freezers, refrigerators, air conditioners, and heating units. Based on its composition, various refrigerants are available in the market such as fluorocarbon such as HCFCs & HFCs, inorganic such as ammonia, CO2 & water, hydrocarbon such as Iso-butane & pentane, and blends such as R134A & R410A.
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The report includes a detailed segmentation study of the Global refrigerant market, where all of the segments are analyzed in terms of market growth, share, growth rate, and other vital factors. It also provides the attractiveness index of segments so that players can be informed about lucrative revenue pockets of the global Southeast Asia refrigerant market. The extensive evaluation of segments provided in the report will help you to direct your investments, strategies, and teams to focus on the right areas of the global Southeast Asia refrigerant market.
In 2019, Asia-Pacific which currently holds the largest share will grow with a CAGR of 7.8%. With rise in disposable income, the standard of living in Asia-Pacific is increasing drastically; thus, contributing to rise in refrigerant demand.
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Some of the factors restraining market growth are-this industry requires heavy investment industry which requires continuous research and development in the field to match up with the current competitors. In addition to this the government rules for the use of such chemicals are very strict. As they are harm full for our environment.
The refrigerant market is highly matured with a high degree of competition. Several companies are coming up with new and more environment friendly products. This is helping them to tap the market which was initially served by phase refrigerants like HCFC. This strategy is helping the companies to increase their customer base in various applications such as air conditioning and refrigeration.
The refrigeration can further be sub divided into various type:
CFC-12
HCFC-22
HFC-134A
HFC
HFO
Azeotrope
Hcfs Zeotrope
The refrigeration can further be sub divided into various applications:
Domestic Refrigeration
Commercial Refrigeration
Transportation Refrigeration
Industrial Refrigeration
Stationary air conditioning
Mobile air conditioning
Chillers and Hydronic heat pump
The report includes the profiles of major players such as
Carrier
Trane
Johnson controls
Daikin
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The report includes the profiles by region such as
East Asia
China
Japan
South Korea
Europe
Germany
United Kingdom
France
Italy
Russia
Spain
Netherlands
Switzerland
Poland
South Asia
India
Pakistan
Bangladesh
Southeast Asia
Indonesia
Thailand
Singapore
Malaysia
Philippines
Vietnam
Myanmar
In 2019, Stationary AC application held maximum share of 30.5% in the global refrigerant market. The stationary AC will grow at a CAGR of 4.8% and the growth is driven by the increasing installations of window-mounted room air conditioners, through the wall air conditioners, portable air conditioners, and packaged terminal air conditioners (PTAC) globally.
By Region, in 2019 the global refrigerant market was dominated by Asia-Pacific region, with 48% share of global refrigerant market in terms of volume. North America captured the second largest share followed by Europe. Refrigerant market for emerging economies of the world is expected to grow with higher growth rates while the market in matured economies will grow at more modest rates. Key countries of the Asia-Pacific refrigerant market include China, Japan, and India which together accounted for 78% of the total refrigerant market in the region, in the year 2019. China is the leading market for refrigerant in this region, with 60% of the total Asia-Pacific market during 2019.
The customization research services cover the additional custom report features such as additional regional and country level analysis as per the client requirements.
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