Refrigerants: Global Markets

Report Scope: In this report, the market has been segmented based on refrigerants type, application and region. It offers an overview of the global market for refrigerants and analyzes global market trends, considering a base year of 2019 and estimates for 2020 and 2025.

New York, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Refrigerants: Global Markets" - https://www.reportlinker.com/p05993358/?utm_source=GNW


Revenue forecasts for 2025 are given for each refrigerants type, application and region. Estimated values are derived from manufacturers’ total revenues and price of the refrigerants.

The report also includes a discussion of the major players in the market.Further, it explains the major drivers and regional dynamics of the market for refrigerants and current trends within the industry.

The report concludes with a special focus on the manufacturers and includes detailed profiles of the major manufacturers in the global market for refrigerants.

This report covers the technological, economic and business considerations of the refrigerants industry, with analyses and forecasts provided for global markets. Included in the report are descriptions of market forces relevant to the refrigerants industry and their areas of application.

Global markets are presented by type and application of refrigerants, along with growth forecasts through 2025. Estimates on sales value are based on the price in the supply chain at which the refrigerants are procured by manufacturers.

Market-driving forces and the industry supply chain are examined.International aspects are analyzed for all world regions and types of refrigerants.

Brief profiles of major global manufacturers are also presented.

The presently developing COVID-19 pandemic has currently halted the progress of economies across the world. In addition to taking measures to lock down their respective countries to contain the spread of the coronavirus, especially in affected cities, various governments across the world are also taking the measures necessary to contain the economic slowdown.

The report considers the impact of COVID-19.In 2020, the growth rate of every industry across the world has been impacted by the pandemic, and thus the refrigerants market will also be indirectly affected.

The market is, however, expected to bounce back in 2021, due to the relief packages or disaster aid packages provided by various governments to boost their economies.

The report does not include separate market data for the very small types covered under the “other” categories, such as water, air, isopentane and Propene.

The report does not include separate market data for the very small applications covered under the “other” categories, such as package air conditioners (PAC) and rooftop AC.

A negative economic outlook has been assumed in all the regions for 2020 due to COVID-19, but a later positive economic outlook has been assumed to continue in all the regions until 2025. The growing economies are assumed to attract key companies in the market and increase consumer spending.

Report Includes:
- 136 data tables and 88 additional tables
- An overview of the global market for refrigerants
- Estimation of the market size and analyses of global market trends, with data from 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
- Analysis of current and future market dynamics and identification of key drivers, restraints and opportunities
- Discussion on preference of greener refrigerants such as ammonia, isobutene, propane, and carbon dioxide, over fluorocarbons refrigerants due to high ozone depleting potential (ODP) and global warming potential (GWP)
- Impact analysis of COVID-19 pandemic on refrigerants market and highlights of the new products and technologies within the industry
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of major players of the industry, including AGC Inc., Daikin Industries Ltd., Honeywell International Inc., Navin Fluorine International Ltd., Shandong Yue’an Chemical Co., Ltd., SRF Ltd. and The Chemours Company

Summary:
A refrigerant such as hydrocarbon is a product derived from crude oil, and after processing in several stages to form the desired product, the sulfur content should be very low and the quality should be above 99.5%. However, Hydrochlorofluorocarbons (HCFCs) or Hydrofluorocarbons (HFCs) are formed by reacting multiple gases; for instance, HFC-134a is formed by reacting trichloroethylene with hydrogen fluoride. It acts as a cooling medium used in various types of cooling equipment that absorb heat when at a low temperature and pressure, and release heat when at a high temperature and pressure. The primary function of refrigerants is to transfer heat by absorbing heat 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 refrigerants and secondary refrigerants.Primary refrigerants act as phase change materials (PCMs) and provide refrigeration by undergoing a phase change.

Secondary refrigerants are used for transferring heat energy from one source to another. They are mainly used in cooling equipment such as refrigeration and air-conditioning systems.

Refrigerants are used in various applications, such as domestic, commercial, industrial and transport refrigeration; chillers; window AC, split AC and VRF; MAC; and others (package air conditioners [PAC] and rooftop AC).

Refrigerants are used in refrigeration systems in multiple end-use industries, including domestic, commercial and industrial infrastructures; metal and mining; cement production; oil and gas; and food processing, among others.

The world has seen increased industrialization and globalization in recent years, resulting in a dramatic change in how operations work in sectors such as construction.With the development of newer and better refrigeration equipment, there is an increasing need to enhance their quality and effectiveness.

The global demand for refrigeration has also grown.It is an emerging field of sophisticated technology that is steadily gaining ground in China and India, among other places.

Additionally, high demand of refrigerators and air-conditioners from various sectors, such as construction and metal and mining, has resulted in growth for the refrigerants sector.However, some trends continue to impact the growth of the refrigerants market, such as a mature market and stringent regulations in North America and Europe.

In addition, as per Montreal Protocol and Kyoto Protocol, the phase out plan for HCFCs and HFCs across all the regions is impacting the market. Another factor is the recent outbreak of the coronavirus. Considered to be a pandemic by the WHO, COVID-19 has pushed the world’s countries to self-impose lockdowns in order to reduce its spread, and has thus impacted various industries, as well as the normal lives of people, across the world. It is predicted that the impact of the virus is going to be felt through the end of 2020, and so governments of various countries are finding alternative means to bring their operations back to normal by introducing rescue packages or disaster management bills to boost their economies.
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