The Refrigerant Market is expected to register a growth of around 8% over the period of 2022-2028. This is mainly due to the increasing demand for refrigerants from residential and commercial refrigeration and air conditioning equipment coupled with growth in the organized retail and cold chain market. Furthermore, refrigerants are extensively utilized in various industries such as automotive, transportation, and pharmaceutical. For instance, in the pharmaceutical industry, some medicines need cooling due to the presence of various crucial components, which needs preservation. Two of the most common cooling refrigerants in pharmaceuticals are R134A and R1234ze. According to UnivDatos Market Insights (UMI)’ research report “Global Refrigerant Market”, the market is expected to witness a growth of ~8% during the forecast period 2022-2028F. The growth of the market is influenced by factors such as the growing demand for refrigerants in commercial, industrial refrigeration, air conditioning system, and others. Moreover, urbanization and improvement in the standard of living led to high demand for air conditioners helping in the growth of the refrigerant market.
Download Free Sample of this Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=25239
Based on type, the market is classified into fluorocarbons, hydrocarbons, inorganic refrigerants, and others. Amongst them, the inorganic refrigerant segment grabbed a significant market share and dominated the market in 2020. This is mainly due to the rising regulations to support the adoption of environment-friendly refrigerants. Inorganic refrigerants are non-toxic and are environment friendly as well as inexpensive & non-flammable.
Based on application, the market is categorized into residential, commercial, and industrial. The commercial category is to experience the fastest growth during the forecast period. This is due to the growing penetration of air conditioners in commercial sectors. Moreover, increasing hypermarkets, supermarkets, and food retail chains, coupled with a rise in consumption of packaged and frozen foods, have boosted the demand for commercial refrigerants.
Download Free Sample of this Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=25239
APAC to witness extensive growth
For a better understanding of the market adoption of the Refrigerant market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. Asia-Pacific is expected to witness the highest CAGR during the forecast period. The expansion of various end-use industries, rapid urbanization, changes in lifestyle, high disposable income, and the presence of various compliances positively affect the refrigerant market in the region.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Refrigerant market are Dongyue Group Co. Ltd., Honeywell International Inc., The Chemours Company, The Linde Arkema S.A., Arkema S.A., Air Liquide, Sinochem Lantian Co. Ltd., Daikin Industries, Mexichem and Asahi Glass Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
“Global Refrigerant Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
For More Informative Information, Please Visit Us – https://univdatos.com/report/refrigerant-market/
Market Segmentations:
1. By Type (Fluorocarbons, Hydrocarbons, Inorganic Refrigerants, Others)
2. By Application (Residential, Commercial, Industrial)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Arkema S.A., Dongyue Group Co. Ltd., Honeywell International Inc., The Chemours Company, The Linde Group, Air Liquide, Sinochem Lantian Co. Ltd., Daikin Industries, Mexichem, and Asahi Glass Corporation)
Key questions answered in the study:
1. What are the current and future trends of the global Refrigerant industry?
2. How the industry has been evolving in terms of technology and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Refrigerant industry?
5. What is the customer orientation, purchase behavior, and expectations from the global Refrigerant suppliers across various region and countries?
