Rising Demand for Energy-efficient Cooling Solutions to Drive the Global Refrigerant Market

Rising Demand for Energy-efficient Cooling Solutions to Drive the Global Refrigerant Market 1

Industry Probe has titled an upcoming report as “Refrigerant Market – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2028” to its ever growing database of reports. The report explicates the market for refrigerant via a sequence of channels that incorporate data ranging from fundamental information to an unquestionable projection. It further includes all the primary factors that are expected to undergo definite transformation within the market. The data accessible in the report therefore can be used to augment a standing of the company operating in the global refrigerant market.            

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The report from Industry Probe anticipates that the rising demand for energy-efficient cooling solutions coupled with increasing awareness regarding ozone depletion and global warming is predicted to fuel the market growth over the forecast period. Furthermore, growing industrialization in emerging countries such as India, China, and Japan has led to the establishment of a large number of data centers, consecutively boosting the demand for refrigerants. Rising demand for air conditioning in automobiles to enhance comfort is also expected to drive the market growth. The report has segmented the global refrigerant market in terms of refrigerant type, product, application, and region. The refrigerant market is categorized based on refrigerant type into two categories: natural refrigerant and synthetic refrigerant.

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Based on product, the refrigerant market is split into hydrochlorofluorocarbons (HCFC), HFO, Hydrofluorocarbons (HFC), propane, carbon dioxide, isobutene, ammonia, and others. The application segment is categorized into refrigeration systems, air conditioning systems, chillers, and mobile air conditioning (MAC) systems. As per the report, various factors such as low cost, energy-efficient, and eco-friendly nature of hydrocarbons are some of the key features driving the growth of refrigerants. These are also increasingly preferred as the best substitute for fluorocarbon-based cooling process and equipment due to its easy availability and cheap price. Furthermore, based on the application, the refrigerant market can be classified into commercial refrigeration, domestic refrigeration, and industrial refrigeration.

Some of the key players operating in the global refrigerant market are featured in this report to give a better competitive analysis of the market and these include Daikin Industries Limited, Navin Fluorine International Ltd., Honeywell International, SRF Ltd., Dongyue Group, Arkema S.A., Linde Group, Sinochem Group, Air Liquide, Mexichem SAB de C.V., and The Chemours Company. Other players operating in the market include Shandong Yuan Chemical Company Limited, Airgas Inc., Tazzetti SPA, A-Gas International, Sinochem Group, Hess Corporation, Engas Australasia, General Utilities, HyChill, Deepfreeze Refrigerants Inc., and Puyang Zongwei Fine Chemical Co. Ltd.

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