Global Refrigerant Market
The global refrigerant market was valued at USD 14.40 billion in 2016 and is projected to reach USD 20.32 billion by 2025, growing at a CAGR of 4.40% from 2017 to 2025. A refrigerant is a mixture or a substance that is used refrigeration and heat pump cycle. The growing environmental concerns surrounding fluorocarbons is expected to adversely affect market demand. The rising number of cold storage facilities is expected to augment market demand over the forecast period.
1. Market Drivers
1.1 Rising demand for consumer appliances
1.2 Increasing demand for cold chain facilities
2. Market Restraints
2.1 Toxicability and flammability issues
2.2 Stringent regulations against fluorocarbons
The global refrigerants market is segmented on the basis of product, application, and region.
1. By Product:
2. By Application:
2.2 Large Scale Refrigerators
2.4 Air Conditioners
2.5 Heat Pumps
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Dongyue Group
2. Honeywell International Inc.
3. The Linde Group
4. The Chemours Company
5. Arkema SA
6. SRF Limited
7. Asahi Glass Corporation
8. Sinochem Group
10. Gujarat Fluourochemicals Ltd.
11. Shandong Yuean Chemical
12. Harp International
13. Air Liquide
15. Gas Servei SA
16. Daikin Industries Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the global refrigerant market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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