Refrigerants Market

Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide), Application (Refrigeration System, Air Conditioning System, Chillers, and MAC), and Region(Asia Pacific , North America, Europe, MEA)- Global Forecast to 2028

Report Code: CH 1536 Jul, 2023, by marketsandmarkets.com

Refrigerants Market Overview

In terms of value, the refrigerants market is estimated to grow from USD 6.3 billion in 2022 to USD 9.0 billion by 2028, at a CAGR of 6.4%. Refrigerants are chemicals functioning on the principle of transferring heat by absorbing it at low temperature and pressure and releasing it at high temperature and pressure. Based on their functionality, refrigerants are broadly classified into two major types—primary and secondary refrigerants. Primary refrigerants act as phase change materials (PCMs) and enable refrigeration by undergoing a phase change. Secondary refrigerants are used to transfer heat energy from one source to another. They are mainly used in cooling equipment such as refrigeration and air conditioning systems.

Refrigerants Market

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Refrigerants Market

Market Dynamics

Driver: Growing pharmaceutical industry

The pharmaceutical industry requires low temperatures conditions for the transport and storage of drugs. Factors such as the shift to biologics and as well as growing specialty pharmaceuticals and insulin products & vaccines are fueling the demand for refrigerants in this industry in developing Asian economies. The pharmaceutical industry is witnessing significant growth in major emerging economies of Asia Pacific, such as China and India. Therefore, the growth in the pharmaceutical industry is expected to drive the market for refrigerants. The rapid growth of the pharmaceutical industry in emerging economies such as Brazil, China, and India, is leading to a gradual migration of research activities from Europe to these. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), from 2015 to 2020, the Brazilian, Chinese, and Indian pharmaceuticals industries grew by 11.3%, 4.8%, and 10.0%, respectively, compared to the growth of global pharmaceutical industry (5.0%) for the top 5 European Union markets and 4.9% for the US market. In 2020, North America accounted for 49.0% of world pharmaceutical sales, followed by Europe (23.9%).

Restraints:Flammability and toxicity issues

Refrigerants such as ammonia, carbon dioxide, and HCs are flammable, corrosive, and toxic at higher concentrations. Ammonia can react with copper and corrode it. Hence, ammonia-based refrigeration systems are made of materials such as steel, though it increases the overall initial cost of systems. The safety precautions associated with ammonia and carbon dioxide are comparatively greater than those associated with fluorinated refrigerant gases. Carbon dioxide tends to solidify into dry ice upon contact with air. Hence, carbon dioxide cylinders and refrigeration systems require special valves to prevent this conversion.

Opportunities:Increasing demand for natural refrigerants

The most used natural refrigerants are ammonia, carbon dioxide, and HCs such as propane and isobutene. Technological advancements in cooling equipment are replacing traditional refrigerants such as HCFC and HFC with natural ones. This has increased the market share of natural refrigerants in applications such as air conditioning, refrigeration, and heating systems.

Challenges: Illegal trade of refrigerants

Major enforcement efforts in 2020 have made an impact on the illegal trading of these refrigerants across the countries. However, EIA is concerned that the lack of seizures in the first half of 2021 reflects a lull in enforcement efforts by member states and OLAF, which risks undermining progress made in 2020. Given the reduction in available quota starting in 2021, there is an urgent need to strengthen the current monitoring and enforcement system and upscale enforcement capacity in the member states to end the illegal trade in HFCs. Thus, considering these points, the illegal trade of refrigerants poses a challenge to the companies and manufacturers of refrigerants.

Refrigerants Market Ecosystem

The refrigerants ecosystem includes companies manufacturing refrigerants, such as Arkema SA, Dongyue Group Co. Ltd., Honeywell International Inc., Chemours Company, Linde Group, Air Liquide S.A., Sinochem Corporation, Daikin Industries Ltd., Orbia, and Asahi Glass Corporation.

Refrigerants Market Ecosystem

Based on type , HFC & Blends was the largest segment for refrigerants market, in terms of value, in 2022.

HFCs are used as refrigerants, blowing agents, and aerosol propellants. Following the phase-out of chlorofluorocarbons (CFCs) and later HCFCs, which were also greenhouse gases, HFC & blends became popular. Although HFCs are greenhouse gases but not as potent as CFCs or HCFCs. Following the phase-out of CFCs and HCFCs, demand for HFCs has risen rapidly and further increased with the expansion of air conditioning in developing countries. However, due to its high GWP, on October 15, 2016, it was announced in Kigali, Rwanda, that 170 nations had agreed to phase down HFCs through an amendment to the Montreal Protocol.

Based on applications, refrigeration system was the largest segment for refrigerants market, in terms of value, in 2022.

This application is  divided into three major categories, which are domestic refrigeration, industrial refrigeration, and commercial refrigeration. Domestic refrigeration is mainly used in households for preserving food, drinks, and medicine. This category mainly covers refrigerators, freezers, and combined systems. Initially, refrigerants such as CFCs (CFC11 and CFC12) and HCFC (R22) were used in cooling systems. Commercial refrigeration is mainly used to preserve or display food & beverages in retail stores. This segment includes supermarkets, hypermarkets, and office buildings, which require refrigeration systems. Currently, refrigerants such as HCFC (R22), HFCs (R134A and R404A), and HC (290 and 600A) are used in commercial refrigerators, with HCFCs being the predominant one in this application. The industrial refrigeration segment includes refrigerants used in manufacturing plants. Refrigerants such as HCFC and ammonia are most commonly used in industrial applications. However, due to new environmental legislation, the use of HCFC refrigerants is declining.

“Asia Pacific accounted for the largest market share for refrigerants market, in terms of value, in 2022”

Asia Pacfic is the largest refrigerants market, accounting for the largest share of the market in 2022. HFC and carbon dioxide are among the most widely consumed refrigerants due to the increasing consumption of refrigeration and AC equipment in commercial buildings and supermarkets. In Asia Pacific, the demand for inorganic refrigerants is expected to rise mainly due to the 100% phase-out of HCFCs by 2040 and the 85% phase-out of HFCs by 2047. Market growth in Asia Pacific is mainly attributed to China—the largest refrigerants market in the world in terms of volume. The presence of large consumer pockets and the low cost of production in India and China are driving the region’s refrigerants market. Moreover, rapid urbanization, demand for domestic consumer appliances, and the rapidly growing infrastructure industry in Thailand and Indonesia are also expected to support the growth of the refrigerants market in Southeast Asia during the forecast period.

Refrigerants Market by Region

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Key Market Players

The key players profiled in the report include Arkema S.A. (France), Daikin Industries Ltd. (Japan), Honeywell International Inc. (US), The Chemours Company (US), The Linde Group (Dublin), and Air Liquide (France),  among others, these are the key manufacturers that secured major market share in the last few years.

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Scope of the Report

Report Metric

Details

Years considered for the study

2016–2028

Base year considered

2022

Forecast period

2023–2028

Units considered

Value (USD Million/Billion) and Volume (Kiloton)

Segments covered

Type, Application, and Region

Regions covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies profiled

The key players profiled in the report include Arkema S.A. (France), Daikin Industries Ltd. (Japan), Honeywell International Inc. (US), The Chemours Company (US), The Linde Group (Dublin), and Air Liquide (France) and others.

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

On the basis of type, the Refrigerants market has been segmented as follows:
  • HFC
  • HFO
  • Isobutane
  • Propane
  • Ammonia
  • Carbon Dioxide
  • Others
On the basis of application , the Refrigerants market has been segmented as follows:
  • Refrigeration System
    • Domestic Refrigeration
    • Commercial Refrigeration
    • Industrial Refrigeration
  • Chillers
  • Air Conditioning Systems
    • Window AC
    • Split AC
    • VRF
    • Ducted, Packaged & Rooftop ACs
  • MAC
On the basis of region, the Refrigerants market has been segmented as follows:
  • Asia Pacific
  • North America
  • Europe
  • Middle East & Arica
  • South America

Recent Developments

  • In June 2023, Honeywell announced first low-carbon district heating network located in Tallaght, Dublin, is using a heat pump with its energy efficient, ultra-low-global-warming-potential (GWP) hydrofluoroolefin (HFO) Solstice ze (R-1234ze) refrigerant. The project is now operational and will support Ireland’s 2030 and 2050 renewable energy targets, as well as the European Union’s decarbonization initiatives including REPowerEU.
  • In may 2023, The Chemours Company announced a capacity investment in its low global warming potential (GWP) Opteon 1100 foam blowing agent and Opteon SF33 specialty fluid. The expansion will triple capacity of the ultra-low GWP, hydrofluoroolefin (HFO) solution, enabling customers and value chain partners to meet the escalating demand for sustainable and efficient HFO-1336mzzZ-based fluids.
  • In January 2022, Honeywell launched a new non-flammable energy-efficient Solstice N71 (R-471A) refrigerant to meet the stringent regulations regarding reducing greenhouse gas emissions.
  • In June 2021, Arkema S.A. announced the finalization of an agreement with the Chinese producer Aofan to manufacture Forane 1233zd in China. This is expected to support the market needs for sustainable solutions with high-efficiency insulation materials in various applications.
  • On May 8, 2021, Sinochem Holdings Corporation Ltd. was established, formed through the joint restructuring of the Sinochem Corporation  and China International Corporation. The company is a leading state-owned enterprise with more than 220,000 employees.s
  • In January 2021, Air Liquide S.A. established a joint venture with Hefei Institutes of Physical Sciences to promote the development of helium refrigeration equipment in China.
  • In July 2020, The Linde Group set up a new air separation unit (ASU) and the first of three nitrogen generators as part of a 15-year contract to supply ultra-high purity industrial gases to a major electronics customer in Taiwan.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 25)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
           1.2.2 MARKET DEFINITION AND INCLUSIONS, BY TYPE
           1.2.3 MARKET DEFINITION AND INCLUSIONS, BY APPLICATION
    1.3 STUDY SCOPE 
          FIGURE 1 REFRIGERANTS MARKET SEGMENTATION
    1.4 REGIONS COVERED 
    1.5 YEARS CONSIDERED 
    1.6 CURRENCY CONSIDERED 
    1.7 UNITS CONSIDERED 
    1.8 STAKEHOLDERS 
    1.9 SUMMARY OF CHANGES 
           1.9.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY (Page No. - 31)
    2.1 RESEARCH DATA 
          FIGURE 2 REFRIGERANTS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key primary interview participants
                    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
                    FIGURE 3 MARKET SIZE ESTIMATION - APPROACH 1 (SUPPLY SIDE): COMBINED MARKET SHARE OF MAJOR PLAYERS
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 BOTTOM UP (SUPPLY SIDE): COLLECTIVE REVENUE OF ALL SERVICES
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 – BOTTOM UP (DEMAND SIDE): PRODUCTS SOLD AND THEIR AVERAGE SELLING PRICE
    2.3 DATA TRIANGULATION 
          FIGURE 6 REFRIGERANTS MARKET: DATA TRIANGULATION
    2.4 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST 
           2.4.1 SUPPLY SIDE
                    FIGURE 7 MARKET CAGR PROJECTIONS FROM SUPPLY SIDE
           2.4.2 DEMAND SIDE
                    FIGURE 8 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS AND OPPORTUNITIES
    2.5 FACTORS ANALYSIS 
    2.6 RECESSION IMPACT 
    2.7 ASSUMPTIONS 
    2.8 LIMITATIONS 
    2.9 RISK ASSESSMENT 
          TABLE 1 REFRIGERANTS MARKET: RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY (Page No. - 41)
    FIGURE 9 HFC & BLENDS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF REFRIGERANTS MARKET IN 2022
    FIGURE 10 REFRIGERATION SYSTEM SEGMENT TO LEAD REFRIGERANTS MARKET BETWEEN 2023 AND 2028
    FIGURE 11 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF REFRIGERANTS MARKET IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 44)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN REFRIGERANTS MARKET 
          FIGURE 12 INCREASING APPLICATION AREAS OFFER GROWTH OPPORTUNITIES FOR REFRIGERANTS MARKET
    4.2 REFRIGERANTS MARKET, BY REGION 
          FIGURE 13 ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD
    4.3 ASIA PACIFIC: REFRIGERANTS MARKET, BY COUNTRY AND APPLICATION 
          FIGURE 14 HFC & BLENDS AND CHINA ACCOUNTED FOR LARGEST MARKET SHARE OF ASIA PACIFIC REFRIGERANTS MARKET IN 2022
    4.4 REFRIGERANTS MARKET, BY APPLICATION AND REGION 
          FIGURE 15 REFRIGERATION SYSTEM SEGMENT LED REFRIGERANTS MARKET
    4.5 REFRIGERANTS MARKET, BY KEY COUNTRY 
          FIGURE 16 INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 47)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN REFRIGERANTS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for consumer appliances
                    5.2.1.2 Growing pharmaceutical industry
           5.2.2 RESTRAINTS
                    5.2.2.1 Stringent regulations against fluorocarbon refrigerants
                                TABLE 2 SCHEDULE FOR HCFC ELIMINATION: NON-ARTICLE 5 PARTIES
                                TABLE 3 SCHEDULE FOR HCFC ELIMINATION: ARTICLE 5 PARTIES
                                TABLE 4 SCHEDULE FOR HFC ELIMINATION
                    5.2.2.2 Flammability and toxicity issues
                                TABLE 5 PROPERTIES OF MOST COMMONLY USED REFRIGERANTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand for natural refrigerants
                                TABLE 6 FACTORS DEFINING GROWTH OF NATURAL REFRIGERANTS
                                TABLE 7 REFRIGERANTS WITH LOW GWP AND ZERO ODP
           5.2.4 CHALLENGES
                    5.2.4.1 Illegal trade of refrigerants
    5.3 PORTER'S FIVE FORCES 
          FIGURE 18 REFRIGERANTS MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 8 REFRIGERANTS MARKET: PORTER'S FIVE FORCES ANALYSIS
    5.4 MACROECONOMIC INDICATORS 
           5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 9 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2020–2027 (USD BILLION)
 
6 INDUSTRY TRENDS (Page No. - 56)
    6.1 SUPPLY CHAIN ANALYSIS 
          FIGURE 19 REFRIGERANTS MARKET: SUPPLY CHAIN
           6.1.1 RAW MATERIAL
           6.1.2 MANUFACTURERS
           6.1.3 DISTRIBUTION NETWORK
           6.1.4 END USER (REFRIGERATION EQUIPMENT)
    6.2 TRENDS/DISRUPTIONS IMPACTING CUSTOMER'S BUSINESS 
           6.2.1 REVENUE SHIFTS & REVENUE POCKETS FOR REFRIGERANTS MARKET
                    FIGURE 20 REVENUE SHIFT FOR REFRIGERANTS MARKET
    6.3 CONNECTED MARKETS: ECOSYSTEM 
          TABLE 10 REFRIGERANTS MARKET: ECOSYSTEM
          FIGURE 21 REFRIGERANTS MARKET: ECOSYSTEM
    6.4 TECHNOLOGY ANALYSIS 
           6.4.1 NOT-IN-KIND COOLING TECHNOLOGY
                    TABLE 11 OBJECTIVES OF NOT-IN-KIND COOLING TECHNOLOGY
           6.4.2 MAGNETIC REFRIGERATION
    6.5 KEY STAKEHOLDERS & BUYING CRITERIA 
           6.5.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 22 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS
                    TABLE 12 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 APPLICATIONS (%)
           6.5.2 BUYING CRITERIA
                    FIGURE 23 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
                    TABLE 13 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
    6.6 PRICING ANALYSIS 
           6.6.1 AVERAGE SELLING PRICES OF APPLICATION, BY KEY PLAYER
                    FIGURE 24 AVERAGE SELLING PRICE OF TOP 3 APPLICATIONS FOR KEY PLAYERS
                    TABLE 14 AVERAGE SELLING PRICE FOR TOP 3 APPLICATIONS (USD)/KG, BY KEY PLAYER
           6.6.2 AVERAGE SELLING PRICE, BY REGION
                    FIGURE 25 AVERAGE SELLING PRICE OF REFRIGERANTS, BY REGION (USD/KG)
                    TABLE 15 AVERAGE SELLING PRICE OF REFRIGERANTS, BY REGION (USD/KG)
    6.7 CASE STUDY ANALYSIS 
           6.7.1 CASE STUDY ON HONEYWELL INTERNATIONAL INC.
           6.7.2 CASE STUDY ON REFRIGERANT MANAGEMENT SOLUTIONS LEADING SUPERMARKET DECARBONISE OPERATIONS
    6.8 TRADE DATA STATISTICS 
           6.8.1 IMPORT SCENARIO OF REFRIGERANTS
                    FIGURE 26 IMPORT OF REFRIGERANTS, BY KEY COUNTRIES (2013–2022)
                    TABLE 16 IMPORT OF REFRIGERANTS, BY REGION, 2013–2022 (USD MILLION)
           6.8.2 EXPORT SCENARIO OF REFRIGERANTS
                    FIGURE 27 EXPORT OF REFRIGERANTS, BY KEY COUNTRIES (2013–2022)
                    TABLE 17 EXPORT OF REFRIGERANTS, BY REGION, 2013–2022 (USD MILLION)
    6.9 REGULATORY LANDSCAPE 
           6.9.1 REGULATIONS RELATED TO REFRIGERANTS
           6.9.2 REGULATORY BODIES, GOVERNMENT AGENCIES & OTHER ORGANIZATIONS
           6.9.3 THE MONTREAL PROTOCOL
           6.9.4 THE KIGALI AMENDMENT
    6.10 KEY CONFERENCES & EVENTS IN 2023–2024 
           TABLE 18 REFRIGERANTS MARKET: DETAILED LIST OF CONFERENCES & EVENTS, 2023–2024
    6.11 PATENT ANALYSIS 
           6.11.1 APPROACH
           6.11.2 DOCUMENT TYPE
                     TABLE 19 GRANTED PATENTS ACCOUNT FOR 24% OF ALL PATENTS IN LAST 11 YEARS
                     FIGURE 28 PATENTS REGISTERED FOR REFRIGERANTS MARKET, 2012–2022
                     FIGURE 29 PATENT PUBLICATION TRENDS FOR REFRIGERANTS MARKET, 2012–2022
                     FIGURE 30 LEGAL STATUS OF PATENTS
           6.11.3 JURISDICTION ANALYSIS
                     FIGURE 31 MAXIMUM PATENTS WERE FILED BY COMPANIES IN US
           6.11.4 TOP APPLICANTS
                     FIGURE 32 LG ELECTRONICS INC. COMPANY REGISTERED MAXIMUM NUMBER OF PATENTS BETWEEN 2011 AND 2022
                     TABLE 20 PATENTS BY DAIKIN INDUSTRIES LTD.
                     TABLE 21 PATENTS BY CARRIER GLOBAL CORPORATION
                     TABLE 22 PATENTS BY HONEYWELL INTERNATIONAL INC.
                     TABLE 23 TOP 10 PATENT OWNERS IN US, 2012–2022
 
7 REFRIGERANTS MARKET, BY TYPE (Page No. - 79)
    7.1 INTRODUCTION 
          FIGURE 33 HFC & BLENDS TO DOMINATE REFRIGERANTS MARKET DURING FORECAST PERIOD
          TABLE 24 REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
          TABLE 25 REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
          TABLE 26 REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
          TABLE 27 REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
    7.2 HFC & BLENDS 
           7.2.1 POPULAR ALTERNATIVE TO HCFC TO DRIVE MARKET
                    TABLE 28 HFC & BLENDS: APPLICATIONS AND GWP
                    TABLE 29 HFC & BLENDS: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 30 HFC & BLENDS: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 31 HFC & BLENDS: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 32 HFC & BLENDS: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.3 HFO 
           7.3.1 CONSUMER AWARENESS OF SUSTAINABLE REFRIGERANTS TO DRIVE MARKET
                    TABLE 33 HFO: APPLICATIONS AND GWP
                    TABLE 34 HFO: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 35 HFO: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 36 HFO: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 37 HFO: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.4 ISOBUTANE 
           7.4.1 LOW GWP OF REFRIGERANTS TO INFLUENCE GROWTH
                    TABLE 38 ISOBUTANE: APPLICATIONS AND GWP
                    TABLE 39 ISOBUTANE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 40 ISOBUTANE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 41 ISOBUTANE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 42 ISOBUTANE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.5 PROPANE 
           7.5.1 PRESENCE OF APPLIANCE MANUFACTURERS TO INCREASE DEMAND IN ASIA PACIFIC
                    TABLE 43 PROPANE: APPLICATIONS AND GWP
                    TABLE 44 PROPANE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 45 PROPANE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 46 PROPANE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 47 PROPANE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.6 AMMONIA 
           7.6.1 GROWING ENVIRONMENTAL CONCERNS TO DRIVE DEMAND
                    TABLE 48 AMMONIA: APPLICATIONS AND GWP
                    TABLE 49 AMMONIA: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 50 AMMONIA: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 51 AMMONIA: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 52 AMMONIA: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.7 CARBON DIOXIDE 
           7.7.1 SUPERMARKETS AND FOOD & PROCESSING INDUSTRY TO DRIVE MARKET
                    TABLE 53 CARBON DIOXIDE: APPLICATIONS AND GWP
                    TABLE 54 CARBON DIOXIDE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
                    TABLE 55 CARBON DIOXIDE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
                    TABLE 56 CARBON DIOXIDE: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 57 CARBON DIOXIDE: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    7.8 OTHERS 
          TABLE 58 OTHERS: REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
          TABLE 59 OTHERS: REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
          TABLE 60 OTHERS: REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
          TABLE 61 OTHERS: REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
 
8 REFRIGERANTS MARKET, BY APPLICATION (Page No. - 95)
    8.1 INTRODUCTION 
          FIGURE 34 REFRIGERATION SYSTEMS TO LEAD REFRIGERANTS MARKET DURING FORECAST PERIOD
          TABLE 62 REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
          TABLE 63 REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
          TABLE 64 REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
          TABLE 65 REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
    8.2 REFRIGERATION SYSTEM 
          TABLE 66 REFRIGERANTS MARKET IN REFRIGERATION SYSTEM, BY REGION, 2016–2021 (KILOTON)
          TABLE 67 REFRIGERANTS MARKET IN REFRIGERATION SYSTEM, BY REGION, 2022–2028 (KILOTON)
          TABLE 68 REFRIGERANTS MARKET IN REFRIGERATION SYSTEM, BY REGION, 2016–2021 (USD MILLION)
          TABLE 69 REFRIGERANTS MARKET IN REFRIGERATION SYSTEM, BY REGION, 2022–2028 (USD MILLION)
           8.2.1 DOMESTIC REFRIGERATION
                    8.2.1.1 Large population to drive market
                                TABLE 70 REFRIGERANTS MARKET IN DOMESTIC REFRIGERATION, BY REGION, 2016–2021 (KILOTON)
                                TABLE 71 REFRIGERANTS MARKET IN DOMESTIC REFRIGERATION, BY REGION, 2022–2028 (KILOTON)
                                TABLE 72 REFRIGERANTS MARKET IN DOMESTIC REFRIGERATION, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 73 REFRIGERANTS MARKET IN DOMESTIC REFRIGERATION, BY REGION, 2022–2028 (USD MILLION)
           8.2.2 COMMERCIAL REFRIGERATION
                    8.2.2.1 Growing retail industry in Asia Pacific to drive demand
                                TABLE 74 REFRIGERANTS MARKET IN COMMERCIAL REFRIGERATION, BY REGION, 2016–2021 (KILOTON)
                                TABLE 75 REFRIGERANTS MARKET IN COMMERCIAL REFRIGERATION, BY REGION, 2022–2028 (KILOTON)
                                TABLE 76 REFRIGERANTS MARKET IN COMMERCIAL REFRIGERATION, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 77 REFRIGERANTS MARKET IN COMMERCIAL REFRIGERATION, BY REGION, 2022–2028 (USD MILLION)
           8.2.3 INDUSTRIAL REFRIGERATION
                    8.2.3.1 Large industrial base of Asia Pacific to drive demand
                                TABLE 78 REFRIGERANTS MARKET IN INDUSTRIAL REFRIGERATION, BY REGION, 2016–2021 (KILOTON)
                                TABLE 79 REFRIGERANTS MARKET IN INDUSTRIAL REFRIGERATION, BY REGION, 2022–2028 (KILOTON)
                                TABLE 80 REFRIGERANTS MARKET IN INDUSTRIAL REFRIGERATION, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 81 REFRIGERANTS MARKET IN INDUSTRIAL REFRIGERATION, BY REGION, 2022–2028 (USD MILLION)
    8.3 CHILLERS 
           8.3.1 GROWING INDUSTRIALIZATION TO DRIVE MARKET
                    TABLE 82 REFRIGERANTS MARKET IN CHILLERS, BY REGION, 2016–2021 (KILOTON)
                    TABLE 83 REFRIGERANTS MARKET IN CHILLERS, BY REGION, 2022–2028 (KILOTON)
                    TABLE 84 REFRIGERANTS MARKET IN CHILLERS, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 85 REFRIGERANTS MARKET IN CHILLERS, BY REGION, 2022–2028 (USD MILLION)
    8.4 AIR CONDITIONING SYSTEM 
          TABLE 86 REFRIGERANTS MARKET IN AIR CONDITIONING SYSTEM, BY REGION, 2016–2021 (KILOTON)
          TABLE 87 REFRIGERANTS MARKET IN AIR CONDITIONING SYSTEM, BY REGION, 2022–2028 (KILOTON)
          TABLE 88 REFRIGERANTS MARKET IN AIR CONDITIONING SYSTEM, BY REGION, 2016–2021 (USD MILLION)
          TABLE 89 REFRIGERANTS MARKET IN AIR CONDITIONING SYSTEM, BY REGION, 2022–2028 (USD MILLION)
           8.4.1 WINDOW AC
                    8.4.1.1 Window AC segment to witness slow growth due to outdated technology
                                TABLE 90 REFRIGERANTS MARKET IN WINDOW AC, BY REGION, 2016–2021 (KILOTON)
                                TABLE 91 REFRIGERANTS MARKET IN WINDOW AC, BY REGION, 2022–2028 (KILOTON)
                                TABLE 92 REFRIGERANTS MARKET IN WINDOW AC, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 93 REFRIGERANTS MARKET IN WINDOW AC, BY REGION, 2022–2028 (USD MILLION)
           8.4.2 SPLIT AC
                    8.4.2.1 Growing consumption of split ACs to drive market
                                TABLE 94 REFRIGERANTS MARKET IN SPLIT AC, BY REGION, 2016–2021 (KILOTON)
                                TABLE 95 REFRIGERANTS MARKET IN SPLIT AC, BY REGION, 2022–2028 (KILOTON)
                                TABLE 96 REFRIGERANTS MARKET IN SPLIT AC, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 97 REFRIGERANTS MARKET IN SPLIT AC, BY REGION, 2022–2028 (USD MILLION)
           8.4.3 VARIABLE REFRIGERANT FLOW (VRF)
                    8.4.3.1 Developing construction activities to drive market
                                TABLE 98 REFRIGERANTS MARKET IN VARIABLE REFRIGERANT FLOW, BY REGION, 2016–2021 (KILOTON)
                                TABLE 99 REFRIGERANTS MARKET IN VARIABLE REFRIGERANT FLOW, BY REGION, 2022–2028 (KILOTON)
                                TABLE 100 REFRIGERANTS MARKET IN VARIABLE REFRIGERANT FLOW, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 101 REFRIGERANTS MARKET IN VARIABLE REFRIGERANT FLOW, BY REGION, 2022–2028 (USD MILLION)
           8.4.4 DUCTED, PACKAGED, AND ROOFTOP ACS
                    8.4.4.1 Increasing commercial spaces to influence market growth
                                TABLE 102 REFRIGERANTS MARKET IN DUCTED, PACKAGED, AND ROOFTOP ACS, BY REGION, 2016–2021 (KILOTON)
                                TABLE 103 REFRIGERANTS MARKET IN DUCTED, PACKAGED, AND ROOFTOP ACS, BY REGION, 2022–2028 (KILOTON)
                                TABLE 104 REFRIGERANTS MARKET IN DUCTED, PACKAGED, AND ROOFTOP ACS, BY REGION, 2016–2021 (USD MILLION)
                                TABLE 105 REFRIGERANTS MARKET IN DUCTED, PACKAGED, AND ROOFTOP ACS, BY REGION, 2022–2028 (USD MILLION)
    8.5 MOBILE AIR CONDITIONING (MAC) 
           8.5.1 LARGE AUTOMOTIVE MANUFACTURING BASE IN ASIA PACIFIC TO OFFER OPPORTUNITIES FOR MAC
                    TABLE 106 REFRIGERANTS MARKET IN MOBILE AIR CONDITIONING, BY REGION, 2016–2021 (KILOTON)
                    TABLE 107 REFRIGERANTS MARKET IN MOBILE AIR CONDITIONING, BY REGION, 2022–2028 (KILOTON)
                    TABLE 108 REFRIGERANTS MARKET IN MOBILE AIR CONDITIONING, BY REGION, 2016–2021 (USD MILLION)
                    TABLE 109 REFRIGERANTS MARKET IN MOBILE AIR CONDITIONING, BY REGION, 2022–2028 (USD MILLION)
 
9 REFRIGERANTS MARKET, BY REGION (Page No. - 116)
    9.1 INTRODUCTION 
          FIGURE 35 ASIA PACIFIC TO BE FASTEST-GROWING REFRIGERANTS MARKET DURING FORECAST PERIOD
          TABLE 110 REFRIGERANTS MARKET, BY REGION, 2016–2021 (KILOTON)
          TABLE 111 REFRIGERANTS MARKET, BY REGION, 2022–2028 (KILOTON)
          TABLE 112 REFRIGERANTS MARKET, BY REGION, 2016–2021 (USD MILLION)
          TABLE 113 REFRIGERANTS MARKET, BY REGION, 2022–2028 (USD MILLION)
    9.2 ASIA PACIFIC 
          FIGURE 36 ASIA PACIFIC: REFRIGERANTS MARKET SNAPSHOT
           9.2.1 RECESSION IMPACT
           9.2.2 ASIA PACIFIC REFRIGERANTS MARKET, BY TYPE
                    TABLE 114 ASIA PACIFIC: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
                    TABLE 115 ASIA PACIFIC: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
                    TABLE 116 ASIA PACIFIC: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
                    TABLE 117 ASIA PACIFIC: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
           9.2.3 ASIA PACIFIC REFRIGERANTS MARKET, BY APPLICATION
                    TABLE 118 ASIA PACIFIC: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                    TABLE 119 ASIA PACIFIC: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                    TABLE 120 ASIA PACIFIC: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                    TABLE 121 ASIA PACIFIC: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
           9.2.4 ASIA PACIFIC REFRIGERANTS MARKET, BY COUNTRY
                    TABLE 122 ASIA PACIFIC: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (KILOTON)
                    TABLE 123 ASIA PACIFIC: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (KILOTON)
                    TABLE 124 ASIA PACIFIC: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (USD MILLION)
                    TABLE 125 ASIA PACIFIC: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (USD MILLION)
                    9.2.4.1 China
                               9.2.4.1.1 High demand for refrigeration and air conditioning systems to drive demand
                                              TABLE 126 CHINA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 127 CHINA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 128 CHINA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 129 CHINA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.2 Japan
                               9.2.4.2.1 Growing commitment to use natural refrigerants to drive market
                                              TABLE 130 JAPAN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 131 JAPAN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 132 JAPAN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 133 JAPAN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.3 South Korea
                               9.2.4.3.1 Increasing investments in public and institutional infrastructure to drive demand
                                              TABLE 134 SOUTH KOREA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 135 SOUTH KOREA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 136 SOUTH KOREA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 137 SOUTH KOREA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.4 India
                               9.2.4.4.1 Growth in commercial and industrial sectors to drive demand
                                              TABLE 138 INDIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 139 INDIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 140 INDIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 141 INDIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.5 Indonesia
                               9.2.4.5.1 Growing construction industry to drive market
                                              TABLE 142 INDONESIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 143 INDONESIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 144 INDONESIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 145 INDONESIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.6 Thailand
                               9.2.4.6.1 Increasing consumer awareness to drive demand for greener refrigerants
                                              TABLE 146 THAILAND: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 147 THAILAND: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 148 THAILAND: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 149 THAILAND: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.7 Malaysia
                               9.2.4.7.1 Rising income and changing purchasing habits to drive market
                                              TABLE 150 MALAYSIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 151 MALAYSIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 152 MALAYSIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 153 MALAYSIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.2.4.8 Australia
                               9.2.4.8.1 Demand for split ACs and variable refrigerant flow to drive market
                                              TABLE 154 AUSTRALIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 155 AUSTRALIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 156 AUSTRALIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 157 AUSTRALIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
    9.3 NORTH AMERICA 
          FIGURE 37 NORTH AMERICA: REFRIGERANTS MARKET SNAPSHOT
           9.3.1 RECESSION IMPACT
           9.3.2 NORTH AMERICA REFRIGERANTS MARKET, BY TYPE
                    TABLE 158 NORTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
                    TABLE 159 NORTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
                    TABLE 160 NORTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
                    TABLE 161 NORTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
           9.3.3 NORTH AMERICA REFRIGERANTS MARKET, BY APPLICATION
                    TABLE 162 NORTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                    TABLE 163 NORTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                    TABLE 164 NORTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                    TABLE 165 NORTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
           9.3.4 NORTH AMERICA REFRIGERANTS MARKET, BY COUNTRY
                    TABLE 166 NORTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (KILOTON)
                    TABLE 167 NORTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (KILOTON)
                    TABLE 168 NORTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (USD MILLION)
                    TABLE 169 NORTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (USD MILLION)
                    9.3.4.1 US
                               9.3.4.1.1 Montreal Protocol to influence market growth significantly
                                              TABLE 170 US: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 171 US: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 172 US: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 173 US: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.3.4.2 Canada
                               9.3.4.2.1 Industrial refrigeration to drive market
                                              TABLE 174 CANADA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 175 CANADA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 176 CANADA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 177 CANADA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.3.4.3 Mexico
                               9.3.4.3.1 Growing automotive sector to drive market
                                              TABLE 178 MEXICO: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 179 MEXICO: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 180 MEXICO: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 181 MEXICO: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
    9.4 EUROPE 
          FIGURE 38 EUROPE: REFRIGERANTS MARKET SNAPSHOT
           9.4.1 EUROPE: RECESSION IMPACT
           9.4.2 EUROPE REFRIGERANTS MARKET, BY TYPE
                    TABLE 182 EUROPE: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
                    TABLE 183 EUROPE: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
                    TABLE 184 EUROPE: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
                    TABLE 185 EUROPE: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
           9.4.3 EUROPE REFRIGERANTS MARKET, BY APPLICATION
                    TABLE 186 EUROPE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                    TABLE 187 EUROPE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                    TABLE 188 EUROPE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                    TABLE 189 EUROPE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
           9.4.4 EUROPE REFRIGERANTS MARKET, BY COUNTRY
                    TABLE 190 EUROPE: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (KILOTON)
                    TABLE 191 EUROPE: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (KILOTON)
                    TABLE 192 EUROPE: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (USD MILLION)
                    TABLE 193 EUROPE: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (USD MILLION)
                    9.4.4.1 Germany
                               9.4.4.1.1 Large manufacturing base of white goods to increase demand
                                              TABLE 194 GERMANY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 195 GERMANY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 196 GERMANY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 197 GERMANY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.2 Italy
                               9.4.4.2.1 Construction industry to present significant refrigerant demand
                                              TABLE 198 ITALY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 199 ITALY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 200 ITALY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 201 ITALY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.3 France
                               9.4.4.3.1 Increasing automobile production to drive demand
                                              TABLE 202 FRANCE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 203 FRANCE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 204 FRANCE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 205 FRANCE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.4 Spain
                               9.4.4.4.1 Presence of automobile manufacturers and rise in residential construction to drive market
                                              TABLE 206 SPAIN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 207 SPAIN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 208 SPAIN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 209 SPAIN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.5 UK
                               9.4.4.5.1 Rising investments in construction sector to drive market
                                              TABLE 210 UK: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 211 UK: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 212 UK: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 213 UK: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.6 Russia
                               9.4.4.6.1 Automotive industry to drive market
                                              TABLE 214 RUSSIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 215 RUSSIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 216 RUSSIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 217 RUSSIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.4.4.7 Turkey
                               9.4.4.7.1 Increased manufacturing of white goods to drive market
                                              TABLE 218 TURKEY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 219 TURKEY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 220 TURKEY: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 221 TURKEY: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
    9.5 MIDDLE EAST & AFRICA 
           9.5.1 MIDDLE EAST: RECESSION IMPACT
           9.5.2 MIDDLE EAST & AFRICA REFRIGERANTS MARKET, BY TYPE
                    TABLE 222 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
                    TABLE 223 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
                    TABLE 224 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
                    TABLE 225 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
           9.5.3 MIDDLE EAST & AFRICA REFRIGERANTS MARKET, BY APPLICATION
                    TABLE 226 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                    TABLE 227 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                    TABLE 228 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                    TABLE 229 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
           9.5.4 MIDDLE EAST & AFRICA REFRIGERANTS MARKET, BY COUNTRY
                    TABLE 230 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (KILOTON)
                    TABLE 231 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (KILOTON)
                    TABLE 232 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (USD MILLION)
                    TABLE 233 MIDDLE EAST & AFRICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (USD MILLION)
                    9.5.4.1 Saudi Arabia
                               9.5.4.1.1 Investments in infrastructure, manufacturing, and retail sectors to drive market
                                              TABLE 234 SAUDI ARABIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 235 SAUDI ARABIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 236 SAUDI ARABIA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 237 SAUDI ARABIA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.5.4.2 UAE
                               9.5.4.2.1 Increasing investments in real estate and manufacturing to drive demand
                                              TABLE 238 UAE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 239 UAE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 240 UAE: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 241 UAE: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.5.4.3 Iran
                               9.5.4.3.1 Growing demand for air conditioning systems to influence market growth
                                              TABLE 242 IRAN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 243 IRAN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 244 IRAN: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 245 IRAN: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.5.4.4 South Africa
                               9.5.4.4.1 Rapid urbanization to drive market
                                              TABLE 246 SOUTH AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 247 SOUTH AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 248 SOUTH AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 249 SOUTH AFRICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
    9.6 SOUTH AMERICA 
           9.6.1 SOUTH AMERICA: RECESSION IMPACT
           9.6.2 SOUTH AMERICA: REFRIGERANTS MARKET, BY TYPE
                    TABLE 250 SOUTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (KILOTON)
                    TABLE 251 SOUTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (KILOTON)
                    TABLE 252 SOUTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2016–2021 (USD MILLION)
                    TABLE 253 SOUTH AMERICA: REFRIGERANTS MARKET, BY TYPE, 2022–2028 (USD MILLION)
           9.6.3 SOUTH AMERICA REFRIGERANTS MARKET, BY APPLICATION
                    TABLE 254 SOUTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                    TABLE 255 SOUTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                    TABLE 256 SOUTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                    TABLE 257 SOUTH AMERICA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
           9.6.4 SOUTH AMERICA REFRIGERANTS MARKET, BY COUNTRY
                    TABLE 258 SOUTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (KILOTON)
                    TABLE 259 SOUTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (KILOTON)
                    TABLE 260 SOUTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2016–2021 (USD MILLION)
                    TABLE 261 SOUTH AMERICA: REFRIGERANTS MARKET, BY COUNTRY, 2022–2028 (USD MILLION)
                    9.6.4.1 Brazil
                               9.6.4.1.1 Economic growth to drive market in various applications
                                              TABLE 262 BRAZIL: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 263 BRAZIL: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 264 BRAZIL: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 265 BRAZIL: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
                    9.6.4.2 Argentina
                               9.6.4.2.1 Higher consumer spending to support refrigerant demand
                                              TABLE 266 ARGENTINA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (KILOTON)
                                              TABLE 267 ARGENTINA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (KILOTON)
                                              TABLE 268 ARGENTINA: REFRIGERANTS MARKET, BY APPLICATION, 2016–2021 (USD MILLION)
                                              TABLE 269 ARGENTINA: REFRIGERANTS MARKET, BY APPLICATION, 2022–2028 (USD MILLION)
 
10 COMPETITIVE LANDSCAPE (Page No. - 212)
     10.1 INTRODUCTION 
     10.2 STRATEGIES ADOPTED BY KEY PLAYERS 
             TABLE 270 OVERVIEW OF STRATEGIES ADOPTED BY KEY REFRIGERANTS MANUFACTURERS
     10.3 RANKING OF KEY MARKET PLAYERS, 2022 
             FIGURE 39 RANKING OF TOP FIVE PLAYERS IN REFRIGERANTS MARKET, 2022
     10.4 MARKET SHARE ANALYSIS 
             TABLE 271 REFRIGERANTS MARKET: DEGREE OF COMPETITION
             FIGURE 40 HONEYWELL INTERNATIONAL INC. LED REFRIGERANTS MARKET IN 2022
     10.5 REVENUE ANALYSIS OF TOP FIVE PLAYERS 
             FIGURE 41 REVENUE ANALYSIS OF KEY COMPANIES DURING PAST FIVE YEARS
     10.6 COMPANY PRODUCT FOOTPRINT ANALYSIS 
             FIGURE 42 REFRIGERANTS MARKET: COMPANY FOOTPRINT
             TABLE 272 REFRIGERANTS MARKET: TYPE FOOTPRINT
             TABLE 273 REFRIGERANTS MARKET: APPLICATION FOOTPRINT
             TABLE 274 REFRIGERANTS MARKET: COMPANY REGION FOOTPRINT
     10.7 COMPANY EVALUATION QUADRANT (TIER 1) 
             10.7.1 STARS
             10.7.2 EMERGING LEADERS
             10.7.3 PARTICIPANTS
             10.7.4 PERVASIVE PLAYERS
                        FIGURE 43 COMPANY EVALUATION QUADRANT FOR REFRIGERANTS MARKET (TIER 1)
     10.8 COMPETITIVE BENCHMARKING 
             TABLE 275 REFRIGERANTS MARKET: DETAILED LIST OF KEY STARTUPS/SMES
             TABLE 276 REFRIGERANTS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUP/SMES
     10.9 STARTUP/SME EVALUATION QUADRANT 
             10.9.1 PROGRESSIVE COMPANIES
             10.9.2 RESPONSIVE COMPANIES
             10.9.3 STARTING BLOCKS
             10.9.4 DYNAMIC COMPANIES
                        FIGURE 44 STARTUP/SMES EVALUATION QUADRANT FOR REFRIGERANTS MARKET
     10.10 COMPETITIVE SITUATIONS AND TRENDS 
             10.10.1 PRODUCT LAUNCHES
                        TABLE 277 REFRIGERANTS MARKET: PRODUCT LAUNCHES (2019–2022)
             10.10.2 DEALS
                        TABLE 278 REFRIGERANTS MARKET: DEALS (2019–2022)
             10.10.3 OTHER DEVELOPMENTS
                        TABLE 279 REFRIGERANTS MARKET: OTHER DEVELOPMENTS (2019–2022)
 
11 COMPANY PROFILES (Page No. - 232)
(Business overview, Products offered, Recent developments & MnM View)*
     11.1 MAJOR PLAYERS 
             11.1.1 ARKEMA S.A.
                        TABLE 280 ARKEMA S.A.: COMPANY OVERVIEW
                        FIGURE 45 ARKEMA S.A.: COMPANY SNAPSHOT
                        TABLE 281 ARKEMA S.A.: DEALS
             11.1.2 DONGYUE GROUP CO., LTD.
                        TABLE 282 DONGYUE GROUP CO., LTD.: COMPANY OVERVIEW
                        FIGURE 46 DONGYUE GROUP CO., LTD: COMPANY SNAPSHOT
             11.1.3 HONEYWELL INTERNATIONAL INC.
                        TABLE 283 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
                        FIGURE 47 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
                        TABLE 284 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES
                        TABLE 285 HONEYWELL INTERNATIONAL INC.: DEALS
                        TABLE 286 HONEYWELL INTERNATIONAL INC.: OTHER DEVELOPMENTS
             11.1.4 THE CHEMOURS COMPANY
                        TABLE 287 THE CHEMOURS COMPANY: COMPANY OVERVIEW
                        FIGURE 48 THE CHEMOURS COMPANY: COMPANY SNAPSHOT
                        TABLE 288 THE CHEMOURS COMPANY: DEALS
                        TABLE 289 THE CHEMOURS COMPANY: OTHER DEVELOPMENTS
             11.1.5 LINDE PLC
                        TABLE 290 LINDE PLC: COMPANY OVERVIEW
                        FIGURE 49 LINDE PLC: COMPANY SNAPSHOT
                        TABLE 291 LINDE PLC: OTHER DEVELOPMENTS
             11.1.6 AIR LIQUIDE S.A.
                        TABLE 292 AIR LIQUIDE S.A.: COMPANY OVERVIEW
                        FIGURE 50 AIR LIQUIDE S.A.: COMPANY SNAPSHOT
                        TABLE 293 AIR LIQUIDE S.A.: DEALS
                        TABLE 294 AIR LIQUIDE S.A.: OTHER DEVELOPMENTS
             11.1.7 SINOCHEM CORPORATION
                        TABLE 295 SINOCHEM CORPORATION: COMPANY OVERVIEW
                        FIGURE 51 SINOCHEM CORPORATION: COMPANY SNAPSHOT
                        TABLE 296 SINOCHEM CORPORATION: DEALS
             11.1.8 DAIKIN INDUSTRIES, LTD.
                        TABLE 297 DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW
                        FIGURE 52 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
                        TABLE 298 DAIKIN INDUSTRIES LTD.: DEALS
                        TABLE 299 DAIKIN INDUSTRIES LTD.: OTHER DEVELOPMENTS
             11.1.9 ORBIA
                        TABLE 300 ORBIA: COMPANY OVERVIEW
                        FIGURE 53 ORBIA: COMPANY SNAPSHOT
                        TABLE 301 ORBIA: PRODUCT LAUNCHES
                        TABLE 302 ORBIA: OTHER DEVELOPMENTS
             11.1.10 ASAHI GLASS CORPORATION
                        TABLE 303 ASAHI GLASS CORPORATION: COMPANY OVERVIEW
                        FIGURE 54 ASAHI GLASS CORPORATION: COMPANY SNAPSHOT
                        TABLE 304 ASAHI GLASS CORPORATION: PRODUCT LAUNCH
                        TABLE 305 ASAHI GLASS CORPORATION: DEALS
             11.1.11 A-GAS INTERNATIONAL
                        TABLE 306 A-GAS INTERNATIONAL: COMPANY OVERVIEW
                        TABLE 307 A-GAS INTERNATIONAL: DEALS
                        TABLE 308 A-GAS INTERNATIONAL: OTHER DEVELOPMENTS
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     11.2 STARTUP/SME PLAYERS 
             11.2.1 SRF LIMITED
                        TABLE 309 SRF LIMITED: COMPANY OVERVIEW
             11.2.2 GUJARAT FLUOROCHEMICALS LIMITED
                        TABLE 310 GUJARAT FLUOROCHEMICALS LIMITED: COMPANY OVERVIEW
             11.2.3 NAVIN FLUORINE INTERNATIONAL LTD.
                        TABLE 311 NAVIN FLUORINE INTERNATIONAL LTD.: COMPANY OVERVIEW
             11.2.4 PUYANG ZHONGWEI FINE CHEMICALS CO., LTD.
                        TABLE 312 PUYANG ZHONGWEI FINE CHEMICALS CO., LTD.: COMPANY OVERVIEW
             11.2.5 SHANDONG YUEAN CHEMICAL INDUSTRY CO. LTD
                        TABLE 313 SHANDONG YUEAN CHEMICAL INDUSTRY CO., LTD: COMPANY OVERVIEW
             11.2.6 HARP INTERNATIONAL LIMITED
                        TABLE 314 HARP INTERNATIONAL LIMITED: COMPANY OVERVIEW
             11.2.7 QUIMOBASICOS, S.A. DE C.V.
                        TABLE 315 QUIMOBASICOS, S.A. DE C.V.: COMPANY OVERVIEW
             11.2.8 TAZZETI S.P.A.
                        TABLE 316 TAZZETI S.P.A.: COMPANY OVERVIEW
             11.2.9 GAS SERVEI S.A.
                        TABLE 317 GAS SERVEI S.A.: COMPANY OVERVIEW
             11.2.10 ZHEJIANG FOTECH INTERNATIONAL CO. LTD.
                        TABLE 318 ZHEJIANG FOTECH INTERNATIONAL CO. LTD: COMPANY OVERVIEW
             11.2.11 REFRIGERANT SOLUTIONS LTD.
                        TABLE 319 REFRIGERANT SOLUTIONS LTD.: COMPANY OVERVIEW
             11.2.12 BROTHERS GAS BOTTLING & DISTRIBUTION CO. LLC
                        TABLE 320 BROTHERS GAS BOTTLE & DISTRIBUTION CO. LLC: COMPANY OVERVIEW
             11.2.13 ECO FREEZE INTERNATIONAL
                        TABLE 321 ECO FREEZE INTERNATIONAL: COMPANY OVERVIEW
             11.2.14 ENGAS AUSTRALASIA
                        TABLE 322 ENGAS AUSTRALASIA: COMPANY OVERVIEWh
 
12 ADJACENT & RELATED MARKETS (Page No. - 272)
     12.1 INTRODUCTION 
     12.2 LIMITATION 
     12.3 INDUSTRIAL REFRIGERATION SYSTEM MARKET 
             12.3.1 MARKET DEFINITION
             12.3.2 MARKET OVERVIEW
     12.4 INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REGION 
             TABLE 323 INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REGION, 2016–2025 (USD BILLION)
             12.4.1 NORTH AMERICA
                        12.4.1.1 By country
                                      TABLE 324 NORTH AMERICA: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY, 2016–2025 (USD MILLION)
                        12.4.1.2 By component
                                      TABLE 325 NORTH AMERICA: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT, 2016–2025 (USD MILLION)
             12.4.2 EUROPE
                        12.4.2.1 By country
                                      TABLE 326 EUROPE: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY, 2016–2025 (USD MILLION)
                        12.4.2.2 By component
                                      TABLE 327 EUROPE: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT, 2016–2025 (USD MILLION)
             12.4.3 ASIA PACIFIC
                        12.4.3.1 By country
                                      TABLE 328 ASIA PACIFIC: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COUNTRY, 2016–2025 (USD MILLION)
                        12.4.3.2 By component
                                      TABLE 329 ASIA PACIFIC: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT, 2016–2025 (USD MILLION)
             12.4.4 REST OF WORLD (ROW)
                        12.4.4.1 By region
                                      TABLE 330 ROW: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY REGION, 2016–2025 (USD MILLION)
                        12.4.4.2 By component
                                      TABLE 331 ROW: INDUSTRIAL REFRIGERATION SYSTEM MARKET, BY COMPONENT, 2016–2025 (USD MILLION)
 
13 APPENDIX (Page No. - 278)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 

The study involved four major activities in estimating the market size for refrigerants. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:

Primary Research

The Refrigerants market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, medical, construction and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Breakdown of Primary Participants

Refrigerants Market Size, and Share

Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.

Other designations include consultants and sales, marketing, and procurement managers.

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

COMPANY NAME

DESIGNATION

Honeywell International Inc.

Director of Marketing

The Chemours Company

Manager- Sales & Marketing

The Linde Group

Sales Manager

Air Liquide

Production Manager

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Refrigerants market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry have been identified through extensive secondary research.
  • The supply chain of the industry has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

Refrigerants Market: Top-Down Approach

Refrigerants Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the refrigerants industry.

Market Definition

According to the International Institute of Refrigeration, refrigerants are cooling mediums that absorb heat at low temperatures and pressure and release heat at high temperatures and pressure. Fluorocarbons are the most widely used refrigerants in equipment, such as refrigerators and air conditioners. However, due to their high ozone depleting potential (ODP) and global warming potential (GWP), they are being replaced by greener refrigerants such as propane, isobutane, ammonia, and carbon dioxide, among others, such as water and propene.

Key Stakeholders

  • Refrigerants Manufacturers
  • Refrigerants Traders, Distributors, and Suppliers
  • End-use Market Participants of Different Segments of Refrigerants
  • Government and Research Organizations
  • Associations and Industrial Bodies
  • Research and Consulting Firms
  • R&D Institutions
  • Environment Support Agencies
  • Investment Banks and Private Equity Firms

Report Objectives

  • To define, describe, and forecast the refrigerants market in terms of value and volume
  • To provide detailed information regarding the drivers, opportunities, restraints, and challenges influencing market growth
  • To estimate and forecast the market size by type, application, and region
  • To forecast the size of the market for five main regions: Europe, North America, Asia Pacific, South America, and the Middle East & Africa, along with their key countries
  • To strategically analyze micromarkets1 with respect to their growth trends, prospects, and contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments, such as deals and expansions, in the market
  • To analyze the impact of the recession on the market
  • To strategically profile key players and comprehensively analyze their growth strategies

Available Customizations

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

Regional Analysis

  • Further breakdown of a region with respect to a particular country or additional application type

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
CH 1536
Published ON
Jul, 2023
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