Refrigerants Market Report, Executive Summary, Industry Analysis, Business Description, Product Description, Key Players, Region and Forecast 2021-2030
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Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 8.2% during the forecast period.
Urbanization and lifestyle improvements, rapid growth of the commercial sector, high demand for air conditioners, technological advancements, and extensively utilized freezing in the food and transportation industries drive the growth of the global refrigerants market. Contrarily, increase in demand for health and wellness food products, including organic food that require cold storage, are expected to provide lucrative growth opportunities for the market.
Based on type, the inorganic segment held the largest market share in 2020, holding around one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the halocarbons segment is projected to register the highest CAGR of 8.6% from 2021 to 2030.
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A. Mobile AC
C. Heat Pumps
A. Industrial Refrigeration
B. Transportation Refrigeration
C. Domestic Refrigeration
Based on application, the refrigeration segment held the highest market share in 2020, holding more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the AC segment is estimated to register the highest CAGR of 7.7% from 2021 to 2030.
Leading players of the global refrigerants market analyzed in the research include Akrema S.A, Daikin Industries, Ltd., E.I. du Pont Nemours & Co., Solvay S.A., Honeywell International Inc., Mexichem S.A.B. DE. C.V., Dongyue Group, SRF Limited, Navin Fluorine International Limited, and Sinochem Group.
1. The outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global refrigerants market, owing to decline in demand for refrigerants from end-use applications.
2. Several industries witnessed setbacks in the first half of 2020, which led to a consequent decline in the demand for refrigerants.
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Key Benefits for Stakeholders
I. This report provides a detailed quantitative analysis of the current refrigerants market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
II. An in-depth analysis of refrigerants market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
III. A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
IV. Region-wise and country-wise market conditions are comprehensively analyzed in this report.
V. The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
VI. An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
VII. Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global refrigerants market.
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