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Refrigerants Market - Key Players are Adopting Different Growth Strategies to Maintain Their Global Dominance

 



(EnergyIndustry.Net, September 29, 2022 ) The global "Refrigerants Market is projected to reach USD 8.4 billion by 2027, at a CAGR of 6.2% from USD 6.2 billion in 2022. The growth is largely driven by factors such as high demand from industries such as consumer electronics, pharmaceutical and automotive. The growing demand for natural refrigerants due to environmental concerns provides lucrative opportunities for the market.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1082

Ammonia was the largest type segment in the refrigerants market in 2019

Ammonia, an inorganic refrigerant, is mostly used in applications such as supermarket/hypermarket, industrial refrigeration, and chillers. It offers advantages such as low-cost refrigeration system, high efficiency that results in low power consumption, and a zero OPD and GWP rating, thus improving the overall ratings of HCFCs and HFCs. Ammonia refrigerants are gaining popularity in the APAC market, mainly due to lower carbon dioxide emissions. The emergence of China as the global leader in the grocery market and the emergence of India and Indonesia as the fastest-growing grocery markets are driving the demand for ammonia refrigerants in the region.

The split ACs segment is estimated to dominate the refrigerants market during the forecast period.

Splits ACs was estimated to be the largest application in 2019 and is projected to continue its dominance throughout the forecast period. Factors such as increasing demand for ACs with better performance and durability are driving the split ACs segment. With an increase in disposable income, the standard of living in APAC is increasing drastically. Thus, the demand for luxury products is increasing rapidly.

APAC to account for the largest share of the refrigerants market, and the trend is expected to continue throughout the forecast period

APAC is the largest market for refrigerants due to the presence of the largest and fastest-growing economies, such as China and India, respectively, in the region. The rapid industrialization, coupled with the growing manufacturing industry, is also driving the market in the region. The rising disposable income of consumers, along with the changing lifestyle, plays a significant role in boosting the refrigerants market. Factors such as advancements in civil construction and high demand for efficient refrigerants drive the market. In addition, the rising demand from Thailand, Indonesia, Malaysia, Japan, and South Korea is estimated to boost the market for refrigerants.

Don't miss out on business opportunities in Refrigerants Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1082   

Browse in-depth TOC on "Refrigerants Market”

157 - Market Data Tables

63 - Figures

191 - Pages

The key market players profiled in the report include Arkema S.A. (France), Dongyue Group Co. Ltd. (China), Honeywell International Inc. (US), The Chemours Company (US), The Linde Group (Ireland), Air Liquide (France) (US), Sinochem Lantian Co. Ltd. (China), Daikin Industries (Japan), Mexichem (Mexico), and Asahi Glass Corporation (Japan).

Honeywell offers products across the building, personal safety, vehicles, footwear, industrial, manufacturing, aerospace & defense, oil & gas, security & fire, healthcare & medical, chemicals, and specialty material industries, among others. The company operates through the following segments, namely, aerospace, performance materials and technologies, Honeywell building technologies, and safety and productivity solutions.

The Chemours Company is a spin-off of DuPont (US) which offers solutions for various end-use industries. The company is among the leading players in the refrigerants market and operates through four major business segments, namely, titanium technologies, thermal & specialized solutions, advanced performance materials, and chemical solutions. It manufactures and markets refrigerants under the thermal & specialized solutions business segment. 

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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