Product Code: SR0322A64_Report
The global refrigerant market reached a value of US$ 16.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.2 Billion by 2027, exhibiting at a CAGR of 10.0% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemicon different end use sectors. These insights are included in the report as a major market contributor.
Refrigerants are chemical mixtures of fluids and gases that function as a cooling agent in refrigeration cycles and heat pumps. They are most commonly used in freezers and air conditioners across various sectors including residential, commercial and automotive. They work on the concept of phase transition that involves the transformation of liquid to gas at adjustable operating temperatures and vice versa. They can be used either as primary solutions in condensation, compression, evaporation and expansion or as secondary solutions to transport thermal energy from one medium to another.
The rapid growth of the consumer electronics sector and increasing demand for domestic air conditioning systems are among the key factors driving the global market. Growing energy demand along with the awareness regarding the adverse effects of refrigerants on the environment has led to the development of energy-efficient cooling systems in domestic and industrial sectors. This has led to a significant change in the composition of refrigerant gases. For instance, conventionally, chlorofluorocarbons (CFCs) were used as refrigerants but owing to their ozone depleting effects they are increasingly being replaced by sulfur dioxide ammonia and non-halogenated hydrocarbons that are considered more environment-friendly. In addition to this, the rising demand for air conditioning systems in automobiles is also driving the market further. Moreover, the increasing requirement of deep freezers and refrigerators from the cold chain market has augmented the demand for refrigerants in the food and beverage industry. Other factors influencing the market growth include rapid industrialization and infrastructural development along with the improved standards of living.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global refrigerant market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Fluorocarbon
- Inorganic
- Hydrocarbon
- Others
Breakup by Application:
- Commercial
- Industrial
- Domestic
- Others
Breakup by Region:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Competitive Landscape:
- The report has also analysed the competitive landscape of the market with some of the key players being Honeywell International Inc., Daikin Industries Ltd, Arkema S A, Dongyue Group, The Chemours Company, Orbia Advance Corporation S.A.B. de CV, Sinochem Group, Air Liquide, AGC Group, Linde Group, SRF Limited, Gujarat Fluorochemicals Limited, etc.
IMARC Group's latest report provides a deep insight into the global refrigerant market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global refrigerant market in any manner. Key Questions Answered in This Report:
- How has the global refrigerant market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global refrigerant industry?
- What has been the impact of COVID-19 on the global refrigerant industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the global refrigerant industry?
- What are the key driving factors and challenges in the global refrigerant industry?
- What is the structure of the global refrigerant industry and who are the key players?
- What is the degree of competition in the global refrigerant industry?
- What are the profit margins in the global refrigerant industry?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Refrigerant Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Product Type
- 5.5 Market Breakup by Application
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
6 Market Breakup by Product Type
- 6.1 Fluorocarbon
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Inorganic
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Hydrocarbon
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Application
- 7.1 Commercial
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Industrial
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Domestic
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Region
- 8.1 Europe
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 North America
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Asia Pacific
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Middle East and Africa
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Latin America
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
- 12.1 Price Indicators
- 12.2 Price Structure
- 12.3 Margin Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Honeywell International Inc.
- 13.3.2 Daikin Industries Ltd
- 13.3.3 Arkema S A
- 13.3.4 Dongyue Group
- 13.3.5 The Chemours Company
- 13.3.6 Orbia Advance Corporation S.A.B. de CV
- 13.3.7 Sinochem Group
- 13.3.8 Air Liquide
- 13.3.9 AGC Group
- 13.3.10 Linde Group
- 13.3.11 SRF Limited
- 13.3.12 Gujarat Fluorochemicals Limited
List of Figures
- Figure 1: Global: Refrigerant Market: Major Drivers and Challenges
- Figure 2: Global: Refrigerant Market: Sales Value (in Billion US$), 2016 - 2021
- Figure 3: Global: Refrigerant Market: Breakup by Product Type (in %), 2021
- Figure 4: Global: Refrigerant Market: Breakup by Application (in %), 2021
- Figure 5: Global: Refrigerant Market: Breakup by Region (in %), 2021
- Figure 6: Global: Refrigerant Market Forecast: Sales Value (in Billion US$), 2022-2027
- Figure 7: Global: Refrigerant Industry: SWOT Analysis
- Figure 8: Global: Refrigerant Industry: Value Chain Analysis
- Figure 9: Global: Refrigerant Industry: Porter's Five Forces Analysis
- Figure 10: Global: Refrigerant (Fluorocarbon) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 11: Global: Refrigerant (Fluorocarbon) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 12: Global: Refrigerant (Inorganic) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 13: Global: Refrigerant (Inorganic) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 14: Global: Refrigerant (Hydrocarbon) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 15: Global: Refrigerant (Hydrocarbon) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 16: Global: Refrigerant (Other Product Types) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 17: Global: Refrigerant (Other Product Types) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 18: Global: Refrigerant (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 19: Global: Refrigerant (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 20: Global: Refrigerant (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 21: Global: Refrigerant (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 22: Global: Refrigerant (Domestic) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 23: Global: Refrigerant (Domestic) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 24: Global: Refrigerant (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
- Figure 25: Global: Refrigerant (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 26: Europe: Refrigerant Market: Sales Value (in Million US$), 2016 & 2021
- Figure 27: Europe: Refrigerant Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 28: North America: Refrigerant Market: Sales Value (in Million US$), 2016 & 2021
- Figure 29: North America: Refrigerant Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 30: Asia Pacific: Refrigerant Market: Sales Value (in Million US$), 2016 & 2021
- Figure 31: Asia Pacific: Refrigerant Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 32: Middle East and Africa: Refrigerant Market: Sales Value (in Million US$), 2016 & 2021
- Figure 33: Middle East and Africa: Refrigerant Market Forecast: Sales Value (in Million US$), 2022-2027
- Figure 34: Latin America: Refrigerant Market: Sales Value (in Million US$), 2016 & 2021
- Figure 35: Latin America: Refrigerant Market Forecast: Sales Value (in Million US$), 2022-2027
List of Tables
- Table 1: Global: Refrigerant Market: Key Industry Highlights, 2021 and 2027
- Table 2: Global: Refrigerant Market Forecast: Breakup by Product Type (in Million US$), 2022-2027
- Table 3: Global: Refrigerant Market Forecast: Breakup by Application (in Million US$), 2022-2027
- Table 4: Global: Refrigerant Market Forecast: Breakup by Region (in Million US$), 2022-2027
- Table 5: Global: Refrigerant Market Structure
- Table 6: Global: Refrigerant Market: Key Players