Press release
Asia-Pacific Refrigerant Market Volume Reach 822.88 Thousand Metric Tons, Increase Annual Revenues By 6.0% By 2024
Asia-Pacific Refrigerant Market Growing with the Highest CAGR
Asia-Pacific Refrigerant Market is expected to reach 822.88thousand metric tons by 2024 from 522.56thousand metric tons in 2016, at a CAGR of 6.0% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
• No of Tables: 125
The major factors driving the growth of this market are China focusing on natural refrigerants as advised by MEP/FECO China, technological changes such as low GWP refrigerants, rise in the cold chain market and increase in the disposable income leading to rise in purchasing power of consumer appliances. On the other hand, government regulation on cutting down HFC emission, banned gases owing to regulation such as SNAP and increasing threats of ozone depletion and global warming may hinder the growth of the market.
• No of pages : 175
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Market Segmentation:
The Asia-Pacific refrigerant market is segmented into 4 types- domestic household refrigeration, industrial refrigeration, commercial racks & condensing units and light commercial. In 2017, the domestic household refrigeration segment is expected to dominate the market with a share of 40.9% and is expected to continue this trend till 2024.
On The Basis Of Industry: - domestic household refrigeration, light commercial refrigeration, commercial racks and condensing units and industrial refrigeration.
On The Basis Of Application: - refrigerators, large-scale refrigerators, chillers, air conditioners, heat pumps and others.
Key Drivers:
Some of the major factors driving the market for Asia-Pacific refrigerant market are China focusing on natural refrigerants as advised by MEP/FECO China, technological changes such as low GWP refrigerants rise in the cold chain market and increase in the disposable income leading to rise in purchasing power of consumer appliances. These factors increase the demand for Asia-Pacific refrigerant market.
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Government regulation on cutting down HFC emission, banned gases owing to regulation such as SNAP and increasing threats of ozone depletion and global warming are the factors which may hinder the growth of this market.
Many companies are increasingly focusing on changes in regulation such as the Montreal protocol and increase in complexity owing to old refrigerants phasing out in order to strengthen their product portfolios in the non-destructive testing equipment market.
Changes in the market owing to protocols such as EU-F-gas and Montreal protocol, phasing out of HFC & HCFC paving way for new technologies will drive the market in future.
Key Points: Asia-Pacific Refrigerant Market
Asahi Glass Co., Ltdis going to dominate the refrigerant market following with Daikin industries limited and The Chemours Company along with others such as Arkema SA, Dongyue Group Ltd, Honeywell International Inc., The Linde Group, Mexichem S.A.B. de C.V., Sinochem Group, Air Liquide, A-Gas, Shandong Yue’an Chemical Co., Ltd, Gas Servei, Zhejiang Fotech International Co. Ltd., Srf Limited, Quimobasicos SA de CV, Changshu 3F Fluorochemical Industry Co., Ltd., OZ-Chill Refrigerants, Tazzetti S.P.A. among others.
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• Hydrocarbon in light commercial market is growing with the highest CAGR
• FC in Commercial Racks & Condensing Units market is driving the market with highest market share
• Domestic household refrigerant is dominating the refrigerant market
Related Report
Global Refrigerant Market – Industry Trends and Forecast to 2024
Global Refrigerant Market, By Type (Fluorocarbons, Inorganics, Hydrocarbons); Application(Home Refrigerators, Large-scale Refrigerators, Chillers, Air Conditioners, Heat Pumps)By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Read More: http://databridgemarketresearch.com/reports/global-refrigerant-market/
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