logo
logo
Sign in

Refrigerants Market Worth $30.8 Billion By 2025 | At A CAGR of 7.7%

avatar
Abhijeet W
Refrigerants Market Worth $30.8 Billion By 2025 | At A CAGR of 7.7%

The refrigerants market size is estimated to be USD 21.3 billion in 2020 and is projected to reach USD 30.8 billion by 2025, at a CAGR of 7.7% between 2020 and 2025. The market is mainly driven by the rising demand for refrigerants from the applications domestic, commercial, and industrial refrigeration; chillers; window, split, VRF, and other air-conditioning systems; and MAC. Growing demand for refrigerants in upcoming applications has created various opportunities for its manufacturers. APAC is the key market for refrigerants, globally, followed by North America and Europe, in terms of volume. One of the primary drivers of the market is the increasing demand for consumer appliances in these regions.

Simply Download PDF Brochure In A Single Click - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1082

Market Dynamics

Driver: Growing Cold Chain Market

A cold chain is a supply chain that consists of a series of storage and distribution activities to maintain a particular temperature range. It comprises two segments – refrigerated transport that utilizes refrigerator trucks, cars, rail, and containers, among others, and surface storage that consists of refrigerated warehouses for storing perishable products. The food and pharmaceutical industries are the major end-users contributing to the increase in demand for the cold chain.

Restraints: Stringent Regulations Against Fluorocarbon Refrigerants

Due to the severe damage that fluorocarbon refrigerants cause to the ozone layer, various governments and agencies are imposing regulations to limit their use. Several countries have agreed to phase out the use of HCFCs and HFCs by imposing limitations on their consumption through various protocols and regulations. These regulations restrict the growth of the fluorocarbon refrigerants market.

♦ Request Free Sample Report - https://www.marketsandmarkets.com/requestsampleNew.asp?id=1082

Key Market Players

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), Sinochem Lantian Co. Ltd. (China), Daikin Industries (Japan), Mexichem (Mexico), and Asahi Glass Corporation (Japan).

collect
0
avatar
Abhijeet W
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more