Asia-Pacific Refrigerant Market, By Type (HCFCs, HFCs, HFOs, Isobutane, Propane, Ammonia, Carbon Dioxide, Others), Application (Refrigerators, Large-Scale Refrigerators, Chillers, Air Conditioners, Heat Pumps and Others), Industry (Domestic Household Refrigeration, Light Commercial Refrigeration, Commercial Racks and Condensing Units, Industrial Refrigeration), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific)- Industry Trends and Forecast to 2028
The refrigerant market is expected to witness market growth at a rate of 6.7% in the forecast period of 2021 to 2028. Data Bridge Market Research report on refrigerant market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in demand for the product for various industrial applications is escalating the growth of refrigerant market.
Refrigerant is defined as a substance that is widely used for absorbing heat from another required substance. In a refrigerating system, the channel of heat transfer usually picks up the heat by evaporating at a low pressure and temperature. The system offers heat on condensing at a higher temperatures and pressure that is done by a fluid which is called as refrigerant.
The surge in sales of consumer appliances across the globe acts as one of the major factors driving the growth of refrigerant market. The high demand for domestic air conditioning systems, owing to significant rise in per capita disposable incomes, and rise in the demand for better maintenance of industrial equipment that need cold surroundings accelerate the market growth. The continuous advancements in cold chain sector and rise in the demand for absorption chillers in oil & gas refineries further influence the market. Additionally, expansion of various end use industries, rapid urbanization, change in lifestyle, high disposable income and presence of various compliances positively affect the refrigerant market. Furthermore, high demand for natural refrigerants extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, stringent regulations against fluorocarbon refrigerants and flammability and toxicity issues are expected to obstruct the market growth. Concerns regarding illegal trade of refrigerants are projected to challenge the refrigerant market in the forecast period of 2021-2028.
This refrigerant market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on refrigerant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Asia-Pacific Refrigerant Market Scope and Market Size
The refrigerant market is segmented on the basis of type, application and industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the refrigerant market is segmented into HCFCs, HFCs, HFOs, Isobutane, Propane, Ammonia, Carbon Dioxide and others.
- On the basis of application, the refrigerant market is segmented into refrigerators, large-scale refrigerators, chillers, air conditioners, heat pumps and others.
- On the basis of industry, the refrigerant market is segmented into domestic household refrigeration, light commercial refrigeration, commercial racks and condensing units and industrial refrigeration.
Asia-Pacific Refrigerant Market Country Level Analysis
The refrigerant market is analyzed and market size insights and trends are provided by country, type, application and industry as referenced above.
The countries covered in the Asia-Pacific refrigerant market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Japan dominates the refrigerant market owning to the increase in research and development activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Refrigerant Market Share Analysis
The refrigerant market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to refrigerant market.
The major players covered in the refrigerant market report are Dongyue Group, Zhejiang Fotech International Co.,Ltd., SRF Limited, Changshu 3F Zhonghao New Chemical Materials Co., Ltd., Tazzetti S.p.A, among other domestic players. Market share data is available for Asia-Pacific (APAC) only. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.