Low GWP Refrigerants Market

New Product Launches & Developments was the Most Preferred Development Strategy Adopted by Companies to Strengthen their Presence in the Low GWP Refrigerants Market

The low GWP refrigerants market size is expected to grow from USD 16.5 billion in 2018 to USD 28.7 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. The major factors driving the low GWP refrigerants market are the low environmental impact of low GWP refrigerants, phasing out of CFC, HCFC, and HFC refrigerants, and the increasing demand for refrigerants and air conditioners across the globe.

The low GWP refrigerants market has grown at a high pace over the past 5 years owing to the increase in demand for commercial refrigeration. Currently, the low GWP refrigerants market is dominated by various key players, such as Linde Group (Germany), Honeywell (US), Sinochem Group (China), Airgas Inc. (US), Engas Australasia (Australia), A-Gas (UK), Puyang Zhongwei Fine Chemical (China), Harp International (UK), Tazzetti (Italy), Shandong Yueon Chemical Industry (China), HyChill Australia (Australia), GTS (Italy), Chemours (US), Mexichem (Mexico), Daikin (Japan), and Arkema (France).

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

New product launches & developments was the most preferred development strategy adopted by companies to strengthen their presence in the low GWP refrigerants market. In June 2018, A-Gas launched a new total solutions packet which includes fire extinguishing agents and expert consulting services in the Australian market.  

Linde manufactures refrigerants and offers a wide variety of compressed and liquefied gases, chemicals, equipment, and materials from its 3 divisions, namely, gases, engineering, and other activities. The gases division supplies refrigerants under various local brand names, such as Linde, BOC, AGA, TEGA, AFROX, SIGAS, and TIG. Linde A.G. operates globally in the fluorocarbon, hydrocarbon, and natural refrigerant business through the Linde Gases division.

In October 2018, the Linde Group joined hands in partnership with the Sinochem Group. This partnership is expected to impact growth for Linde in China and further strengthen Linde’s leading position in the global market.

The Sinochem Group manufactures refrigerants, fertilizers, rubber, medicine, and petrochemicals through its 5 reportable segments, namely, chemical, energy, agriculture, real estate, and financial services. The company produces refrigerants in its chemical division. The refrigerants are manufactured from its enterprise companies, namely, Sinochem Lantian Co. Ltd, Sinochem Modern Environmental Protection Chemicals (XI'AN) Co. Ltd, and Sinochem Taicang Chemical Industrial Park.

Honeywell is an American multinational conglomerate that manufactures a variety of products for the aerospace, energy, and chemicals sectors and addresses challenges around energy, safety, security, and global urbanization. In May 2017, Honeywell opened a new plant in Louisiana which is dedicated to the production of the next-generation auto air-conditioning refrigerant, Solstice yf.

  Related Reports:

Low GWP Refrigerants Market by Type (Inorganics, Hydrocarbons, Fluorocarbons), Application (Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2023

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
CH 6870
RI Published ON
1/24/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Low GWP Refrigerants Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved