Global Refrigerant Market for Industrial and Commercial Applications 2017-2021

Overview of the global refrigerant market for industrial and commercial applications

Research analysis on the global refrigerant market for industrial and commercial applications identifies that the increase in global warming will be one of the major factors that will have a positive impact on the growth of the market. Technavio's market research analysts predict that this market will grow at a CAGR of close to 9% by 2021. Gases such as methane, chlorofluorocarbon (CFC), and carbon dioxide are responsible for the rise in global temperature. It has been estimated by the as per the intergovernmental panel on climate change (IPCC) that the global temperature will rise in the range of 0.3°C-0.9°C per decade. This in turn, will boost the demand for AC and air conditioning installation in various regions during elevated temperatures, consequently driving the demand for refrigerants.

APAC is witnessing growth in the refrigerant market for industrial and commercial applications due to the rising disposable income of individuals. Furthermore, hotels, malls, cinema houses, IT and software companies, schools, colleges, universities, manufacturing industries, automotive, and beverage industries extensively require refrigerants. The market will continue to grow in the region during the next four years due to the development of infrastructure on a large-scale.

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Competitive landscape and key vendors

The refrigerant market is highly competitive and is characterized by the presence of both global and regional vendors. These vendors are focusing on the development of refrigerants with improved cooling properties and other applications. The vendors are also increasingly competing against each other based on factors such as product quality and its properties, product availability, price, and variety of applications.

Key vendors in this market are -

• Arkema
• Airgas
• DAIKIN INDUSTRIES
• The Dow Chemical Company
• Honeywell International

Other prominent vendors in the market include The Linde Group, Mexichem, Gujarat Fluorochemicals, Navin Fluorine International, Shandong Yuean Chemical Industry, SINOCHEM GROUP, SRF, Danfoss, Johnson Controls, Trane, Star Refrigeration, and BITZER.

Segmentation by application and analysis of the refrigerant market for industrial and commercial applications

• Commercial
• Industrial

The commercial segment accounted for the majority shares of the refrigerant market for industrial and commercial applications during 2016. The growth in commercial sectors such as convenience stores, pubs, clubs, and hotels, supermarkets, hotels, railway stations, and airports will be a major factor driving the demand for refrigerants in the coming years.

Segmentation by product type and analysis of the refrigerant market for industrial and commercial applications

• Inorganic compounds
• Fluorocarbon
• Hydrocarbon

Technological advancements in products such as ACs, refrigerators, and other electrical appliances will directly influence the growth of the fluorocarbon refrigerant segment. The segment will continue to grow during the forecasted period due to infrastructure development and economic improvement. Countries such as China, India, and Japan in the APAC region are witnessing an increasing demand for fluorocarbon in the refrigeration system and AC equipment or air conditioning units.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global refrigerant market for industrial and commercial applications?
• What are the key market trends impacting the growth of the global refrigerant market for industrial and commercial applications?
• What are the challenges to market growth?
• Who are the key vendors in the global refrigerant market for industrial and commercial applications?
• What are the market opportunities and threats faced by the vendors in the global refrigerant market for industrial and commercial applications?
• What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
• What are the key outcomes of the five forces analysis of the global refrigerant market for industrial and commercial applications?

Technavio also offers customization on reports based on specific client requirement.

A refrigerant is a substance or compound that can readily absorb heat at one temperature than compress it with the help of a heat pump at a high temperature and pressure. It is thus useful for a wide variety of industrial and commercial applications. The upcoming report on the global refrigerant market for industrial and commercial applications is an integral part of the chemicals and materials industry. Technavio also offers a wide collection of research reports by collecting data and insights from vendors, manufacturers, industrial users, and end users to provide an accurate forecast for the markets in the specialty chemicals sector.

To offer clients insights they are looking for, Technavio uses extensive primary and secondary research methods to gain effective market insights and get a complete industry outlook of this market. In-depth analysis of factors such as technological advancements, new application areas, major end-users, and demands as per geographical regions are also carried out to accurately understand and forecast the market's growth prospects during the forecast period.

Arkema, Airgas, Daikin, Dupont, Honeywell International, Linde, Mexichem, Gujarat Fluorochemicals, Navin Fluorine International, Sinochem Group, SRF, Danfoss, Johnson Controls, Trane, Star Refrigeration, and BITZER are some of the vendors covered in this report. The report also identifies major geographic regions along with other regions such as the Americas, Europe, APAC, and ROW to perform a complete market landscape study. Our research analysts have observed that new eco-friendly batches of refrigerants are gaining importance and making the news in this industry. As a result, our analysts have predicted that the end-users in the market might adopt eco-friendly refrigerants at a much faster rate.

The upcoming research report on the global refrigerant market for industrial and commercial applications also includes industry outlook and size estimation, key drivers, emerging trends, competitive landscape, and opportunities and challenges faced by the industry. The report also covers related sectors from chemicals and materials market such as metals and minerals, plastics, polymers, and elastomers, and glass and ceramics.

Our market research methodology for the global refrigerant market for industrial and commercial applications

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.