Global Refrigerant Market 2017-2021

Overview of the global refrigerant market

Market research analysts at Technavio predict that the global refrigerant market will grow steadily at a CAGR of more than 6% by 2021. The emergence of energy-efficient systems is identified as one of the primary growth factors for this market. To reduce the rising energy costs, homeowners, entrepreneurs, retailers, and consumers demand products that are energy-efficient. Moreover, the governments across the globe are also encouraging citizens to choose highly-efficient appliances. The increasing demand for energy-efficient technologies has raised the demand for heating, ventilating, and air-conditioning (HVACs) and will continue to grow further strengthening the market for refrigerants. Moreover, commercial and residential owners prefer replacing their older, less-efficient HVAC systems with the newer ones that are more efficient, which again will boost the demand for refrigerants.

The increasing use of VRF systems is one of the latest trends that will contribute to the growth of this market in the forthcoming years. Variable refrigerant flow (VRF) systems are systems in which the capacity of the air conditioning system can be adjusted to meet the essential demand by varying the compressor speed. These systems may include multiple outdoor units and an even greater number of indoor units that are connected by copper pipes and controlled by electronic controllers. Moreover, VRF systems can offer high efficiency due to the short pipe runs and allows the direct use of refrigerants, without the need for secondary refrigerants. These systems also offer advantages such as lower space requirement for installation and provision of heating and cooling in different locations within the building at the same time.

Competitive landscape and key vendors  

The refrigerant market consists of numerous multinational and regional players. The vendors in the market have the need to comply with the safety standards prescribed by various regulatory bodies. Moreover, the increasing awareness about climate change along with the stringent regulatory standards has induced vendors to work constantly on various mixtures of gases to obtain the best refrigerant that complies with all regulatory norms.

The leading vendors in the market are -

• Airgas Refrigerants
• Arkema
• Chemours
• Dongyue
• Honeywell
• The Linde Group 

The other prominent vendors in the market are A-Gas Americas, Asahi Glass, Climalife, Daikin Industries, Danfoss, Global Refrigerants, Mexichem, Navin Flourine International, Shandong Yuean Chemical Industry, Sinochem Group (China), and SRF.

Segmentation by product and analysis of the refrigerant market

• Fluorocarbons
• Inorganics
• Hydrocarbons

During 2016, the flurocarbon refrigerants accounted for the major shares of the refrigerant market. Factors such as the energy efficiency, low flammability, and less corrosive nature will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the refrigerant market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the refrigerant market throughout the forecast period. Rapid growth in the demand for refrigerants from the industrial sectors like construction and automotive, specifically in the developing countries will be major factor augmenting the market's growth prospects in APAC.

Key questions answered in the report include

• What will the refrigerant market size and the growth rate be in 2021?
• What are the key factors driving the global refrigerant market?
• What are the key market trends impacting the growth of the global refrigerant market?
• What are the challenges to market growth?
• Who are the key vendors in the global refrigerant market?
• What are the market opportunities and threats faced by the vendors in the global refrigerant market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global refrigerant market?

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

This upcoming industry research report on the global refrigerant market offers insights into the primary trends and emerging drivers influencing the growth of the heavy industries sector. Our market research reports for the heavy industries market space also follow a comprehensive data collection methodology and offer an extensive analysis of rapidly-growing market segments such as unit operations.

By considering the market forecast and size and the increasing demand for various tools and components, the market research professionals at Technavio offer an exclusive picture of the global refrigerant market for the estimated period of 2017 to 2021. Furthermore, our research practices help clients formulate effective growth policies and keep pace with the continually changing market landscape. This market study also showcases a comprehensive analysis of various unit operations equipment based on the interpretation of the data gathered from specific resources such as channel partners and market stakeholders.

This market research report on the global refrigerant market also takes into account the growth of related markets like refrigerant compressors and refrigeration condenser, which are anticipated to post a CAGR of over 5% and close to 6%, respectively during the forecast period. According to our analysts, the increasing demand for cooling products and growth in the cold chain market is expected to cast an influence on the demand for refrigerants globally. This upcoming market research report on the global refrigerant market also covers vendors like Airgas, Asahi Glass, Arkema SA, The Chemours Company, Daikin Industries, Honeywell International, SRF, The Linde group, Mexichem SAB, and Sinochem Group.

The upcoming industry report on the global refrigerant market also offers insights into fast-growing sectors within the heavy industry market space, including sectors like test and measurement and tools and components. Additionally, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the global refrigerant market also covers geographies like the Americas, APAC, and EMEA.

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.