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Refrigerants Market

Refrigerants Market Type (HCFC, HFC,HFO), By Application(Domestic, Industrial, Commercial, Transport, Portable, Single Split, Multi-Split, MAC, Chillers, Heat Pumps) – Global Market Trends & Forecasts upto 2023 

Report code: SDMRCH499874 | Industry: Chemicals & Materials | Published On: 7/6/2019

The global refrigerant market is estimated to be $ 15 billion and will grow at a CAGR of 4.7 and reach around $ 20 billion by 2023. The major factors contributing towards the growth of refrigerant market ban on use harmful fluorocarbon refrigerants. The uses of fluorocarbon refrigerants have had a severe indirect effect on the environment causing ozone depletion. The fluorocarbon refrigerants has very high global warming potential (GWP) and ozone depletion potential (ODP). The release of these refrigerants in the atmosphere is causing thinning of the ozone layer. Varios regulations such as Montreal protocol and the Kyoto protocol, EU F-gas phase down plan and many more are significantly are posing huge challenges to the refrigerant market
Due to ban of CFC’S, HCFC’S and HFC’s the demand for green or natural refrigerants will high in the next five years. Various natural refrigerants such as ammonia, hydrocarbons, CO2, water and air have very global warming potential (GWP) and ozone depletion potential (ODP). Companies have undertaken green initiatives by switching to natural refrigerants. Coco-Cola are targeted to be 100% free from HFC free and use natural refrigerant CO2 in their new cold drink equipment’s by 2020. HFO refrigerants, or Hydrofluro-Olefins, are a new class of refrigerants which have very less global warming potential as compared to HFC alternatives. HFO ‐1234yf has very less GWP almost 335 times than its HFC alternatives. Companies such as Honeywell, DuPont have begun producing HFO refrigerants.
The market has been classified on the basis of refrigerant types such as Fluorocarbons (CFC’s, HCFC’s, HFC’s and HFO’s), Inorganic refrigerants (Ammonia, Carbon Di-oxide and Water), Hydrocarbons (Iso-butane, Propane and others). Being traditional refrigerant, fluorocarbon continuous to dominate the market capturing the major share.
On the basis of application, the market has been segmented into Air-conditioners and Refrigeration. The Air-conditioning segment captured the largest share in 2017 mainly due technological advancements, growing demand for window mounted room air conditioner, portable air conditioner in various applications.
Asia-Pacific will capture the largest share in 2017 followed by Europe and North America. Asia-Pacific will continue to dominate the market mainly due to high consumption potential, increasing standard of living, increasing production capacities, and high economic growth rate. In Asia-Pacfic, some of the key players are Dongyue Group Co., Puyang Zhongwei Fine Chemical Co, Shandong Yuen Chemical Industry Co. Ltd, and Sinochem Group, Gujrat Fluorochemicals Ltd, Navin Fluorine International Ltd (India), and SRF Ltd; and Daikin (Japan).
The market is highly regulated by various regulations such as F-Gas Regulation, MAC Directive, Ozone Depleting Substances, Kyoto Protocol, and Montreal Protocol , Significant New Alternative Policy (SNAP) by E.P.A, E.P.A : Proposal to ban HFC by 2016, Japan: Revised F-Gas law, China- FECO: First Catalogue of Recommended Substitutes for HCFCs, China: Room Air Conditioning Industry HCFC Phase-out Management Action Plan, Chile: New MEPS for domestic refrigeration by 2016 have been studied in-depth along with their impacts.
Key innovative strategies such as new product launch, mergers and acquisitions, partnership agreements and have been adopted by the market leaders. In 2017, Daikin launched R-407H refrigerant, which has around 62%*1 lower global warming potential (GWP) as compared to R-404A. The major players in this market are Daikin Industries, SRF Limited, Air-Liquide, Linde Gas, Sinochem Group, Gujarat Flurochemicals, Asahi Glass, Mexichem, Chemours, Honeywell International, Dongyue Group, and Harp International

1  Introduction        
  1.1  Goal  &  Objective      
  1.2  Report  Coverage      
  1.3  Supply  Side  Data  Modelling  &  Methodology      
  1.4  Demand  Side  Data  Modelling  &  Methodology      
2  Executive  Summary        
3  Market  Outlook          
  3.1  Introduction      
  3.2  Current  &  Future  Outlook      
  3.3  DROC      
    3.3.1  Drivers   Demand  Drivers  Supply  Drivers  
    3.3.2  Restraints    
    3.3.3  Opportunities    
    3.3.4  Challenges    
  3.4  Market  Entry  Matrix      
  3.5  Market  Opportunity  Analysis      
  3.6  Market  Regulations      
      EPA  Regulations    
      EU  F-Gas  Regulations    
      Montreal  Protocol    
      MAC  Directive    
      F  Gas  regulations    
  3.7  Pricing  Mix      
  3.9  Value  Chain  &  Ecosystem      
  3.8  Key  Customers      
4  Demand  Side  Analysis        
  4.1  Refrigerants  Market  by  Type      
    4.1.1  Fluorocarbons   Hydrochlorofluorocarbons  (HCFC)  Hydrofluorocarbon  (HFC)  
          HFC  134A
          HFC  404A
          HFC  410a  Hydrofluro-Olefins  (HFO's)  
    4.1.2  Inorganic  Refrigerant   Ammonia    
          R-717  Carbon  Di-oxide  
          R-774  Water  `
    4.1.3  Hydrocarbons   Iso-butane  Propane  Others  
5  Refrigerants  Market,  By  Application        
  5.1.1  Refrigeration   Domestic  Refrigeration  Commercial  Refrigeration  Industrial  Refrigeration  Transporation    Refrigeration    
  5.1.2  Air-Conditioners   Single  Split  Air-Conditioners  (AC)  Multi   Portable  AC  MAC    
  5.1.3  Chillers      
  5.1.4  Heat  Pumps      
6  Refrigerants  Market  Analysis,  By  Region            
  6.1  North  America      
    6.1.1  U.S.    
    6.1.2  Canada    
    6.1.3  Mexico    
  6.2  Europe        
    6.2.1  Germany      
    6.2.2  Italy    
    6.2.3  France    
    6.2.4  The  Netherlands    
    6.2.5  UK    
    6.2.6  Poland    
    6.2.7  Turkey    
    6.2.8  Rest  of  Europe    
  6.3  Asia  Pacific      
    6.3.1  China    
    6.3.2  Japan    
    6.3.3  India    
    6.3.4  Malyasia    
    6.3.5  Thailand    
    6.3.6  Idonesia    
    6.3.7  Rest  of  APAC    
  6.4  Middle  East  &  Africa      
    6.4.1  Saudi  Arabia    
    6.4.2  UAE    
    6.4.3  Egypt    
    6.4.4  Israel    
    6.4.5  Rest  Of  Middle  East  &  Africa    
  6.5  South  America      
    6.5.1  Brazil    
    6.5.2  Chile    
    6.5.3  Argentina    
    6.5.4  Rest  of  South  America    
7  Supply  Side  Analysis        
  7.1  Strategic  Benchmarking      
  7.1  Market  Share  Analysis      
  7.1  Key  Players        
    7.3.1  Daikin  Industries    
    7.3.2  SRF  Limited    
    7.3.3  Air-Liquide    
    7.3.4  Linde  Gas    
    7.3.5  Sinochem  Group    
    7.3.6  Gujarat  Flurochemicals    
    7.3.7  Asahi  Glass    
    7.3.8  Mexichem    
    7.3.9  Chemours    
    7.3.10  Honeywell  International    
    7.3.11  Dongyue  Group    
    7.3.12  Harp  International      
    7.3.18  Other  Key  Players    
SDMR employs a three way data triangulation approach to arrive at market estimates. We use primary research, secondary research and data triangulation by top down and bottom up approach


Secondary Research:
Our research methodology involves in-depth desk research using various secondary sources. Data is gathered from association/government publications/databases, company websites, press releases, annual reports/presentations/sec filings, technical papers, journals, research papers, magazines, conferences, tradeshows, and blogs.

Key Data Points through secondary research-
Macro-economic data points
Import Export data
Identification of major market trends across various applications
Primary understanding of the industry for both the regions
Competitors analysis for the production capacities, key production sites, competitive landscape
Key customers
Production Capacity
Pricing Scenario
Cost Margin Analysis

Key Data Points through primary research-
Major factors driving the market and its end application markets
Comparative analysis and customer analysis
Regional presence
Collaborations or tie-ups
Annual Production, and sales
Profit Margins
Average Selling Price

Data Triangulation:
Data triangulation is done using top down and bottom approaches. However, to develop accurate market sizing estimations, both the methodologies are used to accurately arrive at the market size. Insert Image
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