Refrigerants Market Size and Growth Rate:

“The Global Refrigerants Market was valued around US$ XX Mn by 2017 and growing at a significant CAGR over seven years forecast period 2018-2024 owing to rapid industrialization and rise in demand for frozen food & chilled beverages.

Inorganic Refrigerant Segment Dominates the Refrigerants Market:

Based on the type of refrigerants, global refrigerants market segmented into hydrocarbons, fluorocarbons, inorganic and others. Inorganic refrigerants dominated the global refrigerants market in 2017 and estimated to dominate over the forecast period owing to rise in customers preferring ecofriendly refrigerants, rise in awareness about the global warming and ozone layer depletion among the people, are surge the market over the forecast years. However, a faster growth rate observed for the hydrocarbon refrigerants due to their natural occurrence and ecofriendly nature.
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Asia Pacific leads the Refrigerants Market:

PBI’s global refrigerants market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, Asia pacific accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to increase in disposable income of people, rapid industrialization and urbanization, life style change, launch of ecofriendly refrigerants in the market, and environmental changes due to global warming are propel the market. European refrigerants market projected to exhibit significant growth due to increased demand for industrial refrigeration. However, in developing and developed countries, increased environmental responsibility is influencing the refrigerants market in a negative way, but investments for new environmental friendly alternatives in R&D will increase the growth in the future.

Launch of newer products, frequent ecofriendly product approvals, and strategic alliances are the key strategies adopted by market players:

Global refrigerants market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent ecofriendly product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In 2018, Daikin Europe, a branch of Daikin Industries of Japan, acquired AHT Cooling Systems of UK. This acquisition has expanded the commercial refrigeration business of Daikin and AHT provides Daikin with a strong position in the European Refrigeration market.

Key player’s profiled in the Refrigerants Market are:

Some of the leading market players of Refrigerants Market are Daikin Industries Ltd., (Japan), E.I. du Pont Nemours & Co., (U.S.), Arkema SA (France), Mexichem SAB de C.V. (Mexico), Honeywell International (U.S.), Sinochem Group. (China), Dongyue Group (China), Linde Group (Germany), Air Liquide. (France), Johnson Controls (US) and more.

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Detailed Segmentation of Refrigerants Market:

By Product Type
• Fluorocarbon
• Hydrocarbon
• Inorganic
• Halocarbons (HCFCs, CFCs, and HFCs)
• Azeotropic
• Zeotropic
• Others

By Application
• Industrial Refrigeration
• Domestic Refrigeration
• Transport Refrigeration
• Commercial Refrigeration
• Stationary Air Conditioning, Chillers & Heat Pumps
• Mobile Air Conditioning


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