Refrigerants play a promising role in reducing increasing concerns regarding global warming and ecological footprints of the refrigeration and air conditioning industries. Currently, ammonia, sulphur dioxide and non-halogenated hydrocarbons, including propane, are the most commonly used refrigerants which serve as alternatives to hydro chlorofluorocarbons across a diverse range of applications. A report by IndustryARC estimates that the global Refrigerants Market, which stood at $23.5 billion in 2018, is set to grow at a CAGR of 7.6% over the forecast period 2019-2025. A recent computational study of National Institute of Standards and Technology (NIST) presents that more than a dozen chemical blends are suitable to replace today’s refrigerants. As these alternative refrigerants oppose heating up atmosphere and also catching up fire. This study has identified nearly 22 best nonflammable and marginally flammable blends with lower global warming potential, which are more apt in case of AC systems. Actually this analysis has been performed specifically for the U.S. military but now it is applicable for civilian applications which include AC systems for cars and homes. The report covers refrigerants market size by type and applications, refrigerants market share by top 5 companies and also the market share by start-ups during the forecast period.
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Refrigerants Australia is an industry, which works proactively with Government, focused to provide real environmental benefit during the prosperity of industry. This industry plays a vital role in handling the developments especially in the air conditioning and refrigeration industries of Australia. And also in reducing the footprints of the same on the environment. The major focus of refrigerants Australia projects for 2018 and 2019 is to provide training about the safe usage of refrigerants and managing safety issues along with the increased concentration on flammable refrigerants.
Refrigerant Market: Leading Segments
Puron Advance is one of the latest advances in the refrigerants market, which cause the least environmental impact. It is identified as the next generation refrigerant, which act as a ducted residential solution especially in the North America region. There is widespread adoption of R-410A in residential air conditioning (AC) units by manufacturers, as these don’t damage the ozone layer. Residential application has been acknowledged as the fastest growing segment among commercial, automobile and industrial applications, which is growing at a CAGR of 9.5% throughout the forecast period.
According to the World Health Organization, in Asia-Pacific less than 8% of people are inhaling a clean breathe and rest of the 92% populous that is nearly 4 billion people are exposed to the risk of air pollution. Increasing air pollution in this region can be reduced by eliminating usage of hydro fluorocarbon refrigerants in air conditioners. Natural refrigerants have become the preferred choice for companies in meeting objectives such as maintaining the ecological balance. Usage of these ecofriendly refrigerants boosts the revenue of the cold storage industry in Indonesia. Additionally, HVAC&R (Heat, Ventilation, AC, and Refrigeration) stakeholders of Southeast Asia are spreading the news of advantageous natural refrigerants usage across the world, through atmosphere conferences and exhibition centres. Higher adoption rate associated with the ozone-and climate friendly refrigerants in the domestic markets especially in the South and South East Asia regions to provide good services and to gain excellence in the competency for the same. In 2018, shecco organized ATMOsphere Asia, which has highlighted the natural refrigerants integrated services & products and the advanced use of five natural refrigerants namely carbon dioxide (CO2), hydrocarbons (HC), ammonia (NH3), water and air with other allies. Thus, the APAC region occupied a large share of about 42% in the global refrigerants market, in 2018.
Refrigerant Market: Disruptive Trends
Demand for refrigerants worldwide are being driven by increasing desire for causing zero ozone depletion, which is shifting demand towards refrigerants which have lower potential for causing global warming.
Development of novel synthetic refrigerants and natural refrigerants are driving growth of refrigerants in the refrigeration and air conditioning industries.In 2018, Coca-Cola, Pepsi, Red Bull and Unilever companies have installed 7.25 million units under light commercial refrigeration using natural refrigerants particularly hydrocarbons and carbon dioxide.
Increasing usage of refrigerants with low global warming potential, in order to avoid the impact of synthetic greenhouse gases in the atmosphere has been boosting the global refrigerant market demand.
Environmental regulations are encouraging newer and more efficient refrigerants to reduce the use of chemicals which are harmful to the surroundings. The U.S. Environmental Protection Agency has mandated phasing out the Freon refrigerant usage by 2020.
Refrigerant Market: Major Players
Some of the major refrigerant players operating in the global refrigerant market are Arkema S.A., Honeywell International Inc., The Chemours Company, Dongyue Group Co. Ltd., The Linde Group, Sinochem Lantian Co. Ltd., Daikin Industries, Mexichem, Air Liquide, and Asahi Glass Corporation.
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Related Reports:
A. Ammonia Refrigerant Market
https://www.industryarc.com/Report/1276/Ammonia-Refrigerant-Market-analysis-report.html
B. Natural Refrigerants Market
https://www.industryarc.com/Report/15239/natural-refrigerants-market.html
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The Global Refrigerant Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Refrigerant is a fluidic constituent used in various refrigeration systems.
Chlorofluorocarbons and Hydrochlorofluorocarbons have become extinct due to ozone depletion and environmental concerns.
Alternative but effective refrigerants like CO2 R-744, R-404A, R-407C and R-410A are used as modern refrigeration techniques.
These techniques are adopted to minimize environmental issues largely.Growth of food, beverages and automotive industry are the major driving factors of the global refrigerant market.
Stringent regulations and environmental concerns are the major factors restraining the global refrigerants market.Global refrigerants market is segmented by geography as Europe, North America, Asia Pacific, Latin America and Middle East & Africa.
The Global Refrigerant Market Report, with its deep industry analysis of the market, estimates the market size bifurcated into segments and regions.
The Refrigerant market share and growth, trends estimated at the end of 2027 give a fair idea of the new opportunities coming up in the market.
The detailed key player's profile and market share analysis give a better understanding of the competitors and their business strategies.Base Year: 2020Estimated Year: 2021Forecast Till: 2027The report classifies the market into different segments based on type and product.
These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.Get | Download FREE Sample Report of Global Refrigerant Market @ https://www.decisiondatabases.com/contact/download-sample-267A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Refrigerant market.
The impact is closely studied in terms of production, import, export, and supply.The report covers the complete competitive landscape of the Worldwide Refrigerant market with company profiles of key players such as:Daikin Industries Ltd.SRF Ltd.Honeywell InternationalArkema SAMexichem Fluor S.A. de C.V.Solvay SA.Dongyue GroupE.I.
The Global PVC Window Profile Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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The Global Polyvinyl Alcohol Fibers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
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According to a research report "Cognitive Assessment and Training Market by Assessment Type (Pen- and Paper-Based, Hosted, Biometrics), Component, Application (Clinical Trial, Screening & Diagnostics, Brain Training, Academic Research), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the cognitive assessment and training market size is expected to grow from USD 1.98 Billion in 2016 to USD 8.06 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.3%.Browse 63 market data tables and 47 figures spread through 150 pages and in-depth TOC on "Cognitive Assessment and Training Market - Global Forecast to 2021"The major forces driving this market are aging global population, increasing awareness about brain fitness, and advancements in technology.
The growing market for cognitive solutions and increasing demand for brain training by next-generation tech-savvy population are contributing to the growth of the cognitive assessment and training market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1039Clinical trials in terms of application is expected to hold the largest market share in the cognitive assessment and training market during the forecast periodClinical trials are mainly used to identify, measure, or monitor cognitive impairments and cognitive changes.
The assessment of cognitive functions is an integral part of decision-making during clinical drug development, as certain drugs can have an impact on the cognitive capabilities of the brain.
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The leading cognitive assessment and training vendors for this vertical are Pearson Assessment and CogniFit.North America is expected to contribute to the largest market share and Asia-Pacific to grow at the highest CAGRNorth America is expected to hold the largest market share and to dominate the cognitive assessment and training market from 2016 to 2021, due to the increasing awareness among population about adopting medication for cognitive diseases.
The new generation in this region is more concerned toward the benefits of cognitive training, which is not just limited to patients with cognitive dysfunctions.
The new report on the Cutlery market provides estimations of the size of the global market and share and size of key regional markets during the historical period of 2015 – 2019.
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Taking the analysis further, the study helps readers get a better understanding of the trends characteristics of the emerging markets, including government regulations crucial to growth of such markets.
