Refrigerants Market Size Worth USD 47.98 billion by 2032 |Companies- Air Liquide Advanced Technologies (France), Linde plc (Ireland)

The global refrigerants market size was valued at USD 24.20 billion in 2023 and is projected to grow from USD 26.11 billion in 2024 to USD 47.98 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period. North America dominated the refrigerants market with a market share of 30.58% in 2023. The growth can be attributed to the surging demand for green refrigerants coupled with the increasing number of cold stores globally. The product demand comes from various end-use industries, especially the automotive sector.

Fortune Business Insights™ cites this information in its research report, titled "Refrigerants Market, 2024-2032".

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅- https://www.fortunebusinessinsights.com/enquiry/sample/refrigerant-market-101745

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐌𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
▶ Air Liquide Advanced Technologies (France)

▶ Linde plc (Ireland)

▶ A-Gas (England)

▶ The Chemours Company (U.S.)

▶ Tazzetti S.p.A. (Piedmont)

▶ AGC Inc. (Japan)

▶ DuPont (U.S.)

▶ Honeywell International Inc. (U.S.)

▶ Arkema (France)

▶ DAIKIN INDUSTRIES, Ltd. (Japan)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

𝐇𝐲𝐝𝐫𝐨𝐜𝐚𝐫𝐛𝐨𝐧𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐆𝐚𝐢𝐧 𝐈𝐦𝐦𝐞𝐧𝐬𝐞 𝐓𝐫𝐚𝐜𝐭𝐢𝐨𝐧 𝐎𝐰𝐢𝐧𝐠 𝐭𝐨 𝐑𝐚𝐩𝐢𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬

Based on type, the market is classified into hydrocarbons, fluorocarbons, and inorganic refrigerants. The hydrocarbon segment held a leading market share in 2022. This was on account of rising industrialization in developing nations coupled with the extensive product usage in residential and commercial applications.

𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐋𝐞𝐚𝐝 𝐃𝐮𝐞 𝐭𝐨 𝐒𝐮𝐫𝐠𝐢𝐧𝐠 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐃𝐞𝐦𝐚𝐧𝐝

With respect to application, the market is classified into refrigeration, air conditioning, and others. The refrigeration segment held the largest market share in 2022. This can be credited to the surging purchasing power of the middle-class population for consumer goods such as refrigeration equipment. The segment expansion can also be ascribed to surging industrialization and deteriorating weather conditions.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞- https://www.fortunebusinessinsights.com/enquiry/get-a-quote/refrigerant-market-101745

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐎𝐰𝐢𝐧𝐠 𝐭𝐨 𝐑𝐢𝐬𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧

Based on end-use industry, the market is categorized into commercial, domestic, and industrial. The industrial segment captured the major market share in 2022. Stringent environmental regulations by the government, especially on manufacturing plants, coupled with surging industrial pollution in emerging nations, has bolstered the demand for refrigerants.

On the basis of region, the market for refrigerants is subdivided into Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:

The report provides vital insights into the key trends and drivers, presenting lucrative opportunities for market growth throughout the estimated period. It also offers a comprehensive coverage of the major strategies opted by leading market players to extend their global footprints.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬:

𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐞 𝐭𝐨 𝐆𝐫𝐨𝐰 𝐎𝐰𝐢𝐧𝐠 𝐭𝐨 𝐑𝐢𝐬𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐔𝐬𝐚𝐠𝐞 𝐢𝐧 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧

One of the major factors propelling the refrigerants market growth is the surging usage of transportation globally. Moreover, increasing demand for medicines, frozen food, and new therapeutic treatments within the cold chain has further proliferated the demand for reliable refrigerated transport, augmenting market growth.

However, the flammability and toxicity issues may present major barriers to product uptake.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧- https://www.fortunebusinessinsights.com/industry-reports/refrigerant-market-101745

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐁𝐞𝐜𝐨𝐦𝐞 𝐭𝐡𝐞 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐇𝐮𝐛 𝐎𝐰𝐢𝐧𝐠 𝐭𝐨 𝐑𝐢𝐬𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐫𝐨𝐦 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐜𝐭𝐨𝐫

The North America refrigerants market share is projected to dominate over the forecast period. This rise is on account of the growing product demand from the automotive and transportation sectors.

The Asia Pacific market is poised to exhibit appreciable growth over the estimated period. The regional growth is driven by improved living standards of people and rapid urbanization.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐄𝐦𝐩𝐡𝐚𝐬𝐢𝐳𝐞 𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡𝐞𝐧 𝐭𝐡𝐞𝐢𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬

Major industry players are focusing on product innovations to enhance their position. They are also investing heavy amounts into R&D activities to launch new products. Additionally, they are emphasizing on mergers and acquisition strategies to bolster their market positions.

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

January 2022- Honeywell, a multinational conglomerate corporation, unveiled Solstice N71(R-417A), a new low-global warming potential refrigerant for the supermarket space.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-

Natural Refrigerants Market- https://www.fortunebusinessinsights.com/natural-refrigerants-market-105256

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This release was published on openPR.