Benefits of Refrigerant, increasing demand for cooling products, and rapid urbanization
The global Refrigerant Market size is expected to reach USD 560.02 million in 2028 and register a revenue CAGR of 3.8% over the forecast period, according to a latest report by Reports Data. Major factors driving market revenue growth are rising awareness regarding the benefits of use of HFCs in refrigeration, rapid urbanization and industrialization and increasing disposable income.
The growing environmental concern has been resulting in rapid adoption of Refrigerant globally. Refrigerant minimizes the emission of ozone-depleting substances, reduce greenhouse gas emissions and save energy. Ongoing research and development activities, government and private investments in the area of Refrigerant is expected to positively impact revenue growth of the market over the forecast period.
According to NASA (National Aeronautics and Space Administration) report, excessive use of HFCs is expected to contribute global warming in 2050. This is a major factor expected to restrain global Refrigerant market revenue growth over the forecast period.
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Top Companies Profiled in the Report: Honeywell International, Zhejiang Juhua, co. Ltd., Daikin, Navin Fluorine International Ltd. (NFIL), Gujarat Fluorochemicals (GFL), Arkema, Jiangsu Bluestar Green Technology, Shandong Yue’an Chemical Co., Ltd, Chemours, and Zhejiang Weihua Chemical Co., Ltd.
Some Key Highlights from the Report:
On the basis of refrigerant type, the market report is segmented into R-23, R-32, R-125, R-134a, and others. Among these, the R-134a segment is expected to register a significantly rapid revenue CAGR during the forecast period as this product is non-flammable, non-toxic, non-explosive, non-irritating, and non-corrosive.
On the basis of blend type, the market report is segmented into R-404A, R-407A, R-406B, R-410A, and others. The R-410A segment is expected to register largest revenue share over the forecast period as it is environmentally friendly, more energy efficient and less expensive.
On the basis of application, the market report is segmented into refrigeration, domestic, commercial, industrial, and air conditioning systems. Among these, refrigeration segment is expected to register robust revenue CAGR during the forecast period due to rising demand for refrigerators from pharmaceutical and biotechnology, food industry and various end-use industries
Regional Outlook
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
To know more about the report: https://www.reportsanddata.com/report-detail/hfc-refrigerant-market
Market Segmentation:
By Refrigerant Type (Revenue, USD Million; 2018 – 2028)
- R-23
- R-32
- R-125
- R-134A
- Others
By Blend Type (Revenue, USD Million; 2018 – 2028)
- R-404A
- R-407A
- R-406B
- R-410A
- Others
By Application (Revenue, USD Million; 2018 – 2028)
- Refrigeration
- Domestic
- Commercial
- Industrial
- Air Conditioning Systems
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Table of Contents:
Report Overview
1.1 Research Scope
1.2 Key Refrigerant market segments
1.3 Major players
1.4 Market analysis by product type
1.5 Market analysis by application
1.6 Report timeline
Global Growth Trends
2.1 Global Refrigerant market size
2.2 Latest regional market trends
2.3 Emerging growth trends
Competitive Outlook
3.1 Global Refrigerant market key players
3.2 Global Refrigerant size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Refrigerant market
3.5 Mergers, acquisitions, joint ventures, and other strategic alliances
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