Europe Refrigerant Market is expected to register substantial CAGR of 5.5% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below.
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The refrigerant is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market will see a prominent growth in the coming years due to the growing demand for freezers and air conditioners.
The market has witness developments in terms of merger and acquisitions or product launches to enhance the product portfolio to meet the rising demand of innovative technology. For instance, in January 2019, Honeywell International Inc. launched Solstice N41 (R-466A*) as an alternative to R-410A which will help the company to meet Japan’s HFC phase-down requirements.
Dongyue Group dominated the refrigerant market and accounts for the highest market share in 2018 which is followed by Honeywell International Inc. and AGC Inc. The other key players existing in the market includes The Chemours Company, Gas Servei, Gujarat Fluorochemicals Ltd., Quimobasicos SA de CV, Linde, DAIKIN INDUSTRIES, Ltd., Mexichem S.A.B. de C.V., Zhejiang Fotech International Co.Ltd., Tazzetti S.p.A., SRF Limited, Changshu Sanaifu Zhonghao Chemical New Material Co., Ltd., SINOCHEM GROUP CO., LTD., Shandong Yue'an Chemical Co., Ltd, Air Liquide and SOL Spa among others.
Dongyue Group:
Dongyue Group headquartered in Hong Kong, China was founded in 1987. The company is engaged in materials and energy sources in fluorine and silicon industry. The company operates through six business segments which include polymers, organic silicon, refrigerants, dichloromethane, PVC and liquid alkali, property development and others. The market focused segment is refrigerants.
In November 2018, Dongyue Group and Guoming Investment Management Co., Ltd. started the new business segment to deal in the bulk commodities such as chemical products, ferrous metals and non-ferrous metals. The main focus is to implement industrial + investment together so that the system can upgrade and transformed.
It has its global networks in Asia, America, Europe and Africa.. It operates through its subsidiaries such as Dongyue Polymers (China), HongKong TaiLi International Trading Co., Ltd. (Hong Kong) and others
Honeywell International Inc.:
Honeywell International Inc. headquartered in New Jersey, U.S. was founded in 1985. The company is engaged in developing and manufactures technologies for electronic, energy, safety, security, productivity, and global urbanization. The company has four operating divisions namely, aerospace, home and building technologies, performance materials & technologies, and safety & productivity solution and the market focused segment is performance materials & technologies.
In January 2019, Honeywell International Inc. launched Solstice N41 (R-466A*) as an alternative to R-410A which will help the company to meet Japan’s HFC phase-down requirements.
It has its global networks in Africa, Asia Pacific, Europe, Latin America, Middle East, and North America. The company has various subsidiaries such as Hand Held Products, Inc. (U.S.), Honeywell (China) Co., Ltd., Honeywell Aerospace de México, S. de R.L. de C.V. (Mexico), Honeywell ASCa Inc. (Canada), Honeywell Automation India Limited(India), Honeywell Aerospace Avionics Malaysia Sdn Bhd. (Malaysia), Honeywell Aerospace (UK), Honeywell Pte. Ltd. (Singapore), Honeywell Specialty Chemicals Seelze GmbH (Germany) and among others.
AGC Inc.:
AGC Inc. headquartered in Tokyo, Japan was founded in 1907. The company is engaged in providing the glass product in four different segments glass, electronics, chemicals, and ceramics. It operates through four major strategic business units which include chemicals, electronics, glass and ceramics/ others and the market focused segment is chemicals.
In October 2017, AGC Inc. acquired the certification for AMOLEA (TM) 1224yd, a new refrigerant which has a low impact on the environment. This will help the company to begin commercial production of it and helps to increase the capacity so that they can meet the demand.
The company has wide geographical presence in Americas, Europe and Japan/Asia. It operates through its subsidiaries such as AGC Flat Glass (Hong Kong) Co.Ltd. (HongKong), PT Asahimas Flat Glass Tbk (Indonesia), AGC Flat Glass (Thailand) Public Co., Ltd (Thailand), Asahi India Glass,Ltd. (India), AGC Flat Glass North America, Inc (USA), AGC Vidros do Brasil Ltda. (Brasil), AGC Flat Glass Italia S.r.l (Italy) and others.