Refrigerant Market by Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, and CO2), Application (Refrigerators, Large-scale Refrigerators, Chillers, Air Conditioners, and Heat Pumps), Region - Global Forecast to 2022

The global refrigerants market is estimated at USD 14.49 Billion in 2017 and is projected to reach USD 18.05 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022. In this report, 2016 is considered the base year and the forecast period is from 2017 to 2022.

The objectives of this study are:

• To estimate and forecast the global refrigerants market size in terms of volume and value
• To provide detailed information regarding the major factors (drivers, restraints, and opportunities) influencing the growth of the market
• To define, describe, and forecast the market size on the basis of type and application
• To forecast the size of the market based on five major regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
• To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
• To track and analyze recent developments such as mergers & acquisitions, expansions, and new product developments in the market
• To strategically profile the key market players and comprehensively analyze their core competencies

This research study involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and Factiva) to identify and collect information useful for this technical, market-oriented, and commercial study of the refrigerants market. The primary sources mainly include several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industry’s supply chain. After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure below illustrates the breakdown of the primary interviews based on company type, designation, and region conducted during the research study.

To know about the assumptions considered for the study, download the pdf brochure

The global refrigerant market is becoming increasingly competitive, there are many market participants, and some of these are market leaders.  There are many established players in the refrigerants market such as Honeywell International Inc. (U.S.), Daikin Industries Ltd. (Japan), SRF Ltd. (India), and Arkema S.A. (France). These top players have significant control over the market. The leading players retain their respective positions by launching new products and are making substantial investments to comply with the F-Gas regulation to produce energy efficient and environment friendly products. Apart from these top players, there are many small Chinese players in this market. All these factors make the refrigerants market highly competitive.

Target Audience:

• Refrigerant manufacturers
• Refrigerant optics dealers
• Refrigerant suppliers
• End users, raw material suppliers, and others

Scope of the report

This report categorizes the global refrigerants market based on type, application, and region.

Market Segmentation, by Type:

• Fluorocarbons
  • Hydrochlorofluoro Carbons (HCFCs)
  • Hydrofluoro Carbons (HFCs)
  • Hydrofluoro Olefins
• Inorganics
  • Ammonia
  • CO2
  • Others
• Hydrocarbons
  • Propane
  • Isobutane
  • Others

Market Segmentation, by Application:

• Refrigerators
  • Domestic
  • Commercial
  • Transport
• Large-scale Refrigerators
  • Supermarkets/Hypermarkets
  • Industrial
• Chillers
  • Displacement
  • Centrifugal
• Air Conditioners
  • Portable
  • Single Split
  • Multi-split
  • Mobile Air Conditioners (MACs)
• Heat Pumps

Market Segmentation, by Region:

• Asia-Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Thailand
  • Rest of Asia-Pacific
• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Turkey
  • Poland
  • Netherlands
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt
  • Israel
  • Rest of Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Product Analysis

• Product Matrix that gives a detailed comparison of the product portfolio of each company

Regional Analysis

• Further breakdown of a region with respect to a particular country

Company Information

• Detailed analysis and profiles of additional market players (Up to five)

This research study involves the extensive use of secondary sources such as encyclopedias, directories, and databases to identify and collect information useful for the technical, market-oriented, and commercial study of the global refrigerants market. Primary sources such as selected experts from relevant industries and suppliers have been interviewed to obtain and verify important information as well as to assess future prospects of the market.

Research Methodology

As a part of the primary research process, various experts from both the supply and demand sides have been interviewed to obtain qualitative and quantitative information. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology & innovation directors, and related key executives from various major companies and organizations operating in the refrigerants market. Primary sources from the demand side include experts and key personnel from end-use industries.

As part of the market engineering process, both the top-down and bottom-up approaches have been extensively used along with the data triangulation method to estimate and forecast the overall market segments listed in this report. Extensive qualitative and quantitative data have been analyzed on the complete market engineering process to provide key information and insights throughout the report.

Key Questions

• With HFCs phasing out, and other type of refrigerants gaining growth. How will it impact revenue of companies manufacturing air conditioning and refrigeration products compatible with HFCs? What opportunities does the market poses on the manufacturers of HFCs and end-users manufacturing products compatible with HFCs?
• With the focus shifting from fluorocarbons to inorganics and organics, what organic & inorganic strategies are better suited for manufacturers in order to expand their market reach and revenue?
• How refrigerants industry which has started focusing on developing low GWP and low ODP refrigerants is going to impact market share of top key players in the market?

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Market
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Stakeholders
    1.7 Limitations

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Growth Opportunities for Refrigerants Manufacturers in the Market
    4.2 Global Refrigerants Market, By Region
    4.3 Asia-Pacific Refrigerants Market Scenario, By Country and Application
    4.4 Leading Countries in the Refrigerants Market, 2017
    4.5 Refrigerants Market in 2017, By Application

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By Application
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Demand for Consumer Appliances
                    5.3.1.2 Growing Cold Chain Market
           5.3.2 Restraints
                    5.3.2.1 Increasingly Stringent Regulations Against Fluorocarbon Refrigerants
                    5.3.2.2 Flammability and Toxicity Issues
           5.3.3 Opportunities
                    5.3.3.1 Increasing Demand for Natural Refrigerants
    5.4 Porter’s Five Forces Analysis
           5.4.1 Threat From New Entrants
           5.4.2 Bargaining Power of Suppliers
           5.4.3 Threat of Substitutes
           5.4.4 Bargaining Power of Buyers
           5.4.5 Intensity of Competitive Rivalry

6 Refrigerants Market By Type (Page No. - 45)
    6.1 Introduction
    6.2 Market Analysis By Type
           6.2.1 Asia-Pacific is Accounted to Be the Largest Market for Fluorocarbons
                    6.2.1.1 HCFCS
                    6.2.1.2 HFCS
                    6.2.1.3 HFOS
           6.2.2 Europe is Estimated to Be the Fastest Growing Region for Inorganics
                    6.2.2.1 Ammonia
                    6.2.2.2 Co2
                    6.2.2.3 Others
           6.2.3 Middle East & Africa is the Fastest Growing Region for Hydrocarbons
                    6.2.3.1 Isobutane
                    6.2.3.2 Propane
                    6.2.3.3 Others

7 Refrigerants Market, By Application (Page No. - 56)
    7.1 Introduction
    7.2 Market Analysis By Application
           7.2.1 Refrigerators
                    7.2.1.1 Domestic
                    7.2.1.2 Transport
                    7.2.1.3 Commercial
           7.2.2 Large-Scale Refrigerators
                    7.2.2.1 Supermarket/Hypermarket
                    7.2.2.2 Industrial
           7.2.3 Chillers
                    7.2.3.1 Displacement Chillers
                    7.2.3.2 Centrifugal Chillers
           7.2.4 Air Conditioners
                    7.2.4.1 Portable
                    7.2.4.2 Single Split
                    7.2.4.3 Multi-Split
                    7.2.4.4 Mobile Air Conditioners
           7.2.5 Heat Pumps

8 Refrigerants Market, By Region (Page No. - 69)
    8.1 Introduction
    8.2 Asia-Pacific
           8.2.1 By Type
           8.2.2 By Application
           8.2.3 By Country
                    8.2.3.1 China
                    8.2.3.2 Japan
                    8.2.3.3 India
                    8.2.3.4 Thailand
                    8.2.3.5 Indonesia
                    8.2.3.6 Rest of Asia-Pacific
    8.3 North America
           8.3.1 By Type
           8.3.2 By Application
           8.3.3 By Country
                    8.3.3.1 U.S.
                    8.3.3.2 Canada
                    8.3.3.3 Mexico
    8.4 Europe
           8.4.1 By Type
           8.4.2 By Application
           8.4.3 By Country
                    8.4.3.1 Germany
                    8.4.3.2 U.K.
                    8.4.3.3 Italy
                    8.4.3.4 France
                    8.4.3.5 Turkey
                    8.4.3.6 Poland
                    8.4.3.7 The Netherlands
                    8.4.3.8 Rest of Europe
    8.5 Middle East & Africa
           8.5.1 By Type
           8.5.2 By Application
           8.5.3 By Country
                    8.5.3.1 Saudi Arabia
                    8.5.3.2 The UAE
                    8.5.3.3 Egypt
                    8.5.3.4 Israel
                    8.5.3.5 South Africa
                    8.5.3.6 Rest of Middle East & Africa
    8.6 South America
           8.6.1 By Type
           8.6.2 By Application
           8.6.3 By Country
                    8.6.3.1 Brazil
                    8.6.3.2 Argentina
                    8.6.3.3 Rest of South America

9 Competitive Landscape (Page No. - 151)
    9.1 Introduction
           9.1.1 Dynamic
           9.1.2 Innovator
           9.1.3 Vanguard
           9.1.4 Emerging
    9.2 Competitive Benchmarking
           9.2.1 Product Offerings
           9.2.2 Business Strategy

10 Company Profiles (Page No. - 155)
     10.1 Arkema SA
             10.1.1 Overview
             10.1.2 Product Offerings Scorecard
             10.1.3 Business Strategy Scorecard
             10.1.4 Recent Developments
     10.2 Dongyue Group Co. Ltd.
             10.2.1 Overview
             10.2.2 Products Offerings Scorecard
             10.2.3 Business Strategy Scorecard
     10.3 Honeywell International Inc.
             10.3.1 Overview
             10.3.2 Product Offerings Scorecard
             10.3.3 Business Strategy Scorecard
             10.3.4 Recent Developments
     10.4 The Chemours Company
             10.4.1 Overview
             10.4.2 Product Offerings Scorecard
             10.4.3 Business Strategy Scorecard
             10.4.4 Recent Developments
     10.5 The Linde Group
             10.5.1 Overview
             10.5.2 Product Offerings Scorecard
             10.5.3 Business Strategy Scorecard
     10.6 Daikin Industries Limited
             10.6.1 Overview
             10.6.2 Product Offerings Scorecard
             10.6.3 Business Strategy Scorecard
             10.6.4 Recent Developments
     10.7 Mexichem
             10.7.1 Overview
             10.7.2 Product Offerings Scorecard
             10.7.3 Business Strategy Scorecard
             10.7.4 Recent Developments
     10.8 Sinochem Group
             10.8.1 Overview
             10.8.2 Product Offerings Scorecard
             10.8.3 Business Strategy Scorecard
             10.8.4 Recent Developments
     10.9 Asahi Glass Corporation
             10.9.1 Overview
             10.9.2 Product Offerings
             10.9.3 Business Strategy
             10.9.4 Recent Developments
     10.10 SRF Limited
             10.10.1 Overview
             10.10.2 Product Offerings Scorecard
             10.10.3 Business Strategy Scorecard
     10.11 Air Liquide (Airgas Refrigerants Inc.)
             10.11.1 Overview
             10.11.2 Product Offerings
             10.11.3 Business Strategy
     10.12 Key Innovators
             10.12.1 Gujarat Fluorochemicals Ltd.
             10.12.2 Navin Fluorine International Ltd
             10.12.3 A-Gas International
             10.12.4 Oz-Chill Refrigerants
             10.12.5 Puyang Zhongwei Fine Chemical
             10.12.6 Shandong Yuean Chemical
             10.12.7 Harp International
             10.12.8 Quimobasico
             10.12.9 Zhejiang Juhua Co Ltd
             10.12.10 Tazzetti Spa
             10.12.11 Gas Servei S.A.
             10.12.12 Zhejiang Fotech International Co Ltd
             10.12.13 Refrigerant Solutions
             10.12.14 Changsu 3f Fluorochemical Industry Co Ltd

11 Appendix (Page No. - 186)
     11.1 Discussion Guide
     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details

List of Tables (121 Tables)

Table 1 Refrigerants Market Segmentation, By Type
Table 2 Refrigerants Market Segmentation, By Application
Table 3 Cooling Equipment Shipment Market Size, By Region, 2016–2022 (USD Million)
Table 4 Commercial Refrigeration Shipment Market Size, By Region, 2016–2022 (USD Million)
Table 5 Schedule for Eliminating HCFCS: Non Article 5 Parties
Table 6 Schedule for Eliminating HCFC: Article 5 Parties
Table 7 Schedule for Eliminating HFC
Table 8 Properties of Most Commonly Used Refrigerants
Table 9 Factors Defining Growth of Natural Refrigerants
Table 10 Refrigerants With Low GWP and Zero Odp
Table 11 Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 12 Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 13 Fluorocarbons Market Size, By Region, 2015–2022 (Kiloton)
Table 14 Fluorocarbons Market Size, By Region, 2015–2022 (USD Million)
Table 15 HCFC: Applications and GWP
Table 16 HFC: Applications and GWP
Table 17 HFO: Applications and GWP
Table 18 Inorganics Market Size, By Region, 2015–2022 (Kiloton)
Table 19 Inorganics Market Size, By Region, 2015–2022 (USD Million)
Table 20 Ammonia: Applications and GWP
Table 21 Others: Applications and GWP
Table 22 Hydrocarbons Market Size, By Region, 2015–2022 (Kiloton)
Table 23 Hydrocarbons Market Size, By Region, 2015–2022 (USD Million)
Table 24 Isobutane: Applications and GWP
Table 25 Propane: Applications and GWP
Table 26 Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 27 Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 28 Refrigerants Market Size in Refrigerators, By Region, 2015–2022 (Kiloton)
Table 29 Refrigerants Market Size in Refrigerators, By Region, 2015–2022 (USD Million)
Table 30 Refrigerants Market Size in Large-Scale Refrigerators, By Region, 2015–2022 (Kiloton)
Table 31 Refrigerants Market Size in Large-Scale Refrigerators, By Region, 2015–2022 (USD Million)
Table 32 Refrigerants Market Size in Chillers, By Region, 2015–2022 (Kiloton)
Table 33 Refrigerants Market Size in Chillers, By Region, 2015–2022 (USD Million)
Table 34 Refrigerants Market Size in Air Conditioners, By Region, 2015–2022 (Kiloton)
Table 35 Refrigerants Market Size in Air Conditioners, By Region, 2015–2022 (USD Million)
Table 36 Refrigerants Market Size in Heat Pumps, By Region, 2015–2022 (Kiloton)
Table 37 Refrigerants Market Size in Heat Pumps, By Region, 2015–2022 (USD Million)
Table 38 Refrigerants Market Size, By Region, 2015–2022 (Kiloton)
Table 39 Refrigerants Market Size, By Region, 2015–2022 (USD Million)
Table 40 Asia-Pacific: Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 41 Asia-Pacific: Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 42 Asia-Pacific: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 43 Asia-Pacific: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 44 Asia-Pacific: Refrigerants Market Size, By Country, 2015–2022 (Kiloton)
Table 45 Asia-Pacific: Refrigerants Market Size, By Country, 2015–2022 (USD Million)
Table 46 China: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 47 China: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 48 Japan: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 49 Japan: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 50 India: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 51 India: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 52 Thailand: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 53 Thailand: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 54 Indonesia: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 55 Indonesia: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 56 Rest of Asia-Pacific: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 57 Rest of Asia-Pacific: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 58 North America: Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 59 North America: Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 60 North America: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 61 North America: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 62 North America: Refrigerants Market Size, By Country, 2015–2022 (Kiloton)
Table 63 North America: Refrigerants Market Size, By Country, 2015–2022 (USD Million)
Table 64 U.S.: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 65 U.S.: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 66 Canada: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 67 Canada: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 68 Mexico: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 69 Mexico: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 70 Europe: Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 71 Europe: Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 72 Europe: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 73 Europe: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 74 Europe: Refrigerants Market Size, By Country, 2015–2022 (Kiloton)
Table 75 Europe: Refrigerants Market Size, By Country, 2015–2022 (USD Million)
Table 76 Germany: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 77 Germany: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 78 U.K.: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 79 U.K.: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 80 Italy: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 81 Italy: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 82 France: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 83 France: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 84 Turkey: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 85 Turkey: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 86 Poland: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 87 Poland: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 88 Netherlands: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 89 Netherlands: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 90 Rest of Europe: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 91 Rest of Europe: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 92 Middle East & Africa: Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 93 Middle East & Africa: Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 94 Middle East & Africa: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 95 Middle East & Africa: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 96 Middle East & Africa: Refrigerants Market Size, By Country, 2015–2022 (Kiloton)
Table 97 Middle East & Africa: Refrigerants Market Size, By Country, 2015–2022 (USD Million)
Table 98 Saudi Arabia: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 99 Saudi Arabia: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 100 UAE: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 101 UAE: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 102 Egypt: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 103 Egypt: Refrigerants Market Size, By Application, 2015–2022 (USD Thousand)
Table 104 Israel: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 105 Israel: Refrigerants Market Size, By Application, 2015–2022 (USD Thousand)
Table 106 South Africa: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 107 South Africa: Refrigerants Market Size, By Application, 2015–2022 (USD Thousand)
Table 108 Rest of Middle East & Africa: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 109 Rest of Middle East & Africa: Refrigerants Market Size, By Application, 2015–2022 (USD Thousand)
Table 110 South America: Refrigerants Market Size, By Type, 2015–2022 (Kiloton)
Table 111 South America: Refrigerants Market Size, By Type, 2015–2022 (USD Million)
Table 112 South America: Refrigerants Market Size, By Application, 2015–2022 (Kiloton)
Table 113 South America: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 114 South America: Refrigerants Market Size, By Country, 2015–2022 (Kiloton)
Table 115 South America: Refrigerants Market Size, By Country, 2015–2022 (USD Million)
Table 116 Brazil: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 117 Brazil: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 118 Argentina: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 119 Argentina: Refrigerants Market Size, By Application, 2015–2022 (USD Million)
Table 120 Rest of South America: Refrigerants Market Size, By Application, 2015–2022 (Ton)
Table 121 Rest of South America: Refrigerants Market Size, By Application, 2015–2022 (USD Million)

List of Figures (38 Figures)

Figure 1 Refrigerants Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Refrigerants Market: Data Triangulation
Figure 5 Hydrocarbons Refrigerants Projected to Be Fastest-Growing Refrigerants Between 2017 and 2022
Figure 6 Air Conditioners to Be the Largest Application for Refrigerants Between 2017 and 2022
Figure 7 Asia-Pacific is Accounted to Have the Highest Market Share in Refrigerants Market in 2016
Figure 8 Increase in Application Areas Will Offer Opportunities in the Refrigerants Market
Figure 9 Global Refrigerants Market: Middle East & Africa Will Exhibit the Fastest Growth Between 2017 and 2022
Figure 10 Refrigerants Market: China Accounts for Largest Market Share in Asia-Pacific
Figure 11 Saudi Arabia Expected to Be Fastest Growing Market for Refrigerants
Figure 12 Air Conditioners Application to Dominate Global Market
Figure 13 Factor Affecting the Refrigerants Market
Figure 14 Porter’s Five Forces Analysis
Figure 15 HFC Refrigerant to Dominate the Market During the Forecast Period
Figure 16 C02 to Dominate the Inorganics Refrigerants Market During Forecast Period
Figure 17 Air-Conditioning Systems Dominated the Refrigerants Market in 2016
Figure 18 Refrigerants Market for Sub-Applications of Refrigerators
Figure 19 Refrigerants Market for Sub-Applications of Large-Scale Refrigerators
Figure 20 Refrigerants Market for Sub-Applications of Chillers
Figure 21 Single Split Air Conditioners to Dominate the Air Conditioner Application Throughout the Forecast Period
Figure 22 Asia-Pacific: Snapshot
Figure 23 Air Conditioners Will Dominate the Refrigerants Market in North America
Figure 24 Europe: Germany is the Largest Market for Refrigerants
Figure 25 Middle East & Africa: Saudi Arabia to Dominate the Refrigerants Market During Forecast Period
Figure 26 South America: Argentina to Be the Fastest-Growing Market for Refrigerants
Figure 27 Dive Chart
Figure 28 Arkema SA: Company Snapshot
Figure 29 Dongyue Group Co. Ltd: Company Snapshot
Figure 30 Honeywell International Inc: Company Snapshot
Figure 31 The Chemours Company: Company Snapshot
Figure 32 The Linde Group: Company Snapshot
Figure 33 Daikin Industries Limited: Company Snapshot
Figure 34 Mexichem: Company Snapshot
Figure 35 Sinochem Group: Company Snapshot
Figure 36 Asahi Glass Corporation: Company Snapshot
Figure 37 SRF Limited: Company Snapshot
Figure 38 Air Liquide: Company Snapshot

The refrigerants market is projected to reach USD 18.05 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022. The market in several growing economies of the Asia-Pacific and the Middle East & Africa is expected to witness high growth owing to the increasing spending power, growth in the infrastructure industry, and growth in the manufacture of consumer appliances. The growing food and healthcare industries are also driving the market as these industries require refrigerators for preserving drugs and food items. Moreover, increasing populations and rising consumption of frozen food are also contributing significantly to the growth of the refrigerants market in the Asia-Pacific. However, the market in the developed economies of Europe and North America is expected to witness slow growth due to changing trends regarding restrictions on the use of fluorocarbons under regulations of the Montreal Protocol. Hydrocarbons (HC) refrigerants will gain importance in North America due to the rapid shift from fluorocarbon to hydrocarbon based refrigerants.

On the basis of type, the refrigerants market is segmented into three major categories, namely, fluorocarbons, hydrocarbons, and inorganics. Fluorocarbons are further segmented into Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), and Hydrofluoro Olefins (HFOs); hydrocarbons into propane and isobutane; and inorganics into ammonia and CO2, among others. Fluorocarbon refrigerants are estimated to account for the maximum share of the global refrigerants consumption in 2017. However, owing to their undesirable effect on the ozone layer, the demand for fluorocarbon refrigerants is expected to decline.

On the basis of application, the refrigerants market is broadly categorized into two categories, refrigeration systems and air-conditioning systems, which are further subsegmented into refrigerators (domestic, commercial, and transport), large-scale refrigerators (supermarket/hypermarket and industrial), chillers (displacement and centrifugal), air conditioners (portable, single split, multi-split, and mobile air conditioners) and heat pumps. The MAC sub-application of air conditioners is projected to be one of the fastest-growing applications in the refrigerants market. The Asia-Pacific is expected to lead the refrigerants market during the forecast period in the MAC application segment due to the growing automotive industry in the region.

The Asia-Pacific was the largest market for refrigerants in 2016, globally. Growing populations and infrastructural developments in the region have led to an increase in the use of refrigerants for various applications such as refrigerators and air conditioners. The high economic growth, followed by heavy investments in the consumer appliances industry drive the demand for refrigerants in the region. Furthermore, the growing populations and industry alliances are expected to support the growth of the refrigerants market in the region.  The presence of large consumer appliances manufacturers such as Daikin (Japan), Samsung (South Korea), LG (South Korea), and Videocon Industries Limited (India) supports the growth of the refrigerants market in the region.

The major drivers contributing to the growth of the global refrigerants market are the increasing demand for consumer appliances and growing cold chain markets. Increasing regulations against fluorocarbon refrigerants and flammability and toxicity issues are the major growth restraints in the refrigerants market. The growing use of natural refrigerants is expected to act as an opportunity for stakeholders in the refrigerants market. Natural refrigerants are likely to show high growth in the coming years. Developments in the market, including new product launches, mergers & acquisitions, agreements, and join ventures, are expected to the help the market to grow. The leading manufacturers of refrigerants opted for the new product launches strategy in order to sustain their market positions. Several products are being introduced and manufacturers are making investments for increasing production capacities of refrigerants. The companies profiled in this report are The Chemours Company (U.S.), Honeywell International Inc. (U.S.), Arkema SA (France), Dongyue Group Co. Ltd (China), Asahi Glass Co., Ltd. (Japan), Daikin Industries Ltd. (Japan), Sinochem Corporation (China), Mexichem S.A.B. de C.V. (Mexico), The Linde Group (Germany), Gujarat Fluorochemicals Ltd. (India), and Air Liquide (France), among others.

Global Growth Driven by Top 3 Markets: China, US, and Japan

The refrigerants market is expected to reach USD 18.0 billion by 2022, at a CAGR of 4.5% from 2017 to 2022. The increasing demand for consumer appliances in growing economies of Asia-Pacific such as China, India, and Thailand, along with the growing cold chain in well-established markets of North America and Europe, is driving the refrigerants market. As the refrigerants market is highly regulated, the fluorocarbon refrigerants are expected to witness a decline in their market share, which is likely to act as an opportunity for the manufacturers of natural refrigerants.

Key Findings in the Global Refrigerants Study:

India will be the Fastest Growing Refrigerants Market Through 2022

India has emerged as a key market for refrigerants in the Asia-Pacific region. Growing population, rising income levels, and lack of regulatory intervention have enabled India to emerge as one of the fastest-growing markets. In addition, the increasing demand in automotive, industrial, commercial, and other applications has enabled global manufacturers to expand their presence in the country. India is a lucrative market for refrigerants globally as it has many refrigeration and air-conditioning equipment manufacturers present. The current government policies are focused on economic growth through fiscal stimulus. Factors such as the rising middle-class income and growing demand from domestic refrigerator and air conditioner applications are driving the refrigerants market in India.

The increased air-conditioning equipment manufacturing facilities in the country have led to growth of the refrigerants market in the air conditioners application. It is projected to be the largest segment due to the presence of major domestic and foreign consumer appliances manufacturers in India.

Shifting from fragmented local markets to larger centralized wholesale markets is driving the refrigerants growth in large-scale refrigerators that are used for preserving and displaying food items. Factors such as urbanization, changing purchasing habits of consumers, and rise in income are responsible for increasing use of refrigerants in the supermarket/hypermarket sub-application of large-scale refrigerators.

Fluorocarbons type refrigerant will witness a declining trend in the developed economies

Fluorocarbons are chemical compounds comprising of carbon, hydrogen, chlorine, and fluorine as their major constituents. However, not all fluorocarbons may consist of both chlorine and fluorine atoms. The applications of these refrigerants are in refrigerators (domestic, transport, and commercial) and large-scale refrigerators (supermarket/ hypermarket). Fluorocarbons are further sub-divided into three types – HFCs, HCFCs, and HFOs. Since Europe has already phased out HCFCs and the U.S. and Canada are in the process of phasing them out, their market is expected to exhibit a declining trend. Further, Europe and North America have started the phasing out HFCs. The phasing out of HFCs has not yet started in countries of Asia, the Middle East & Africa, and South America, therefore HFCs still have growth potential in these developing economies.

Hydrocarbons type refrigerant are estimated to be the fastest growing refrigerant type during the forecast period

Hydrocarbon gasses such as propane, isobutane, pentane, and isopentane are used as refrigerants for cooling in industrial, commercial, and domestic applications. Unlike inorganic refrigerants, HC refrigerants are flammable, which makes them unsafe for use in some applications. However, countries in the EU have proved that hydrocarbon refrigerants can be used with a degree of reliability similar to other gasses. They are gaining popularity due to their low GWP. Hence, hydrocarbon refrigerants are likely to have high growth potential in the coming years as high demand for low GWP products is anticipated.

HFC and HCFC phase-out schedule for Article 5 and Non-Article 5 countries

Factors affecting the refrigerants market

China the largest consumer of refrigerants market

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