Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 8,000.65 Million |
| USD 13,441.28 Million | |
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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) – Industry Trends and Forecast to 2030.
The market for refrigerant is being driven by the rise in demand for the product for various industrial applications is escalating the growth of the refrigerant market. Additionally, the expansion of various end-use industries, rapid urbanization, change in lifestyle, high disposable income and the presence of various compliances positively affect the refrigerant market.
Data Bridge Market Research analyses that the Asia-Pacific refrigerant market which was USD 8,000.65 million in 2022, would rocket up to USD 13,441.28 million by 2030, and is expected to undergo a CAGR of 6.7% during the forecast period of 2023 to 2030. The surge in sales of consumer appliances across the globe acts as one of the major factors driving the growth of the refrigerant market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Tons, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific.
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Market Players Covered
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Dongyue Group (China), Zhejiang Fotech International Co., Ltd. (China), SRF Limited (India), Changshu 3F Zhonghao New Chemical Materials Co., Ltd. (China), Tazzetti S.p.A, (Europe)
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Market Opportunities
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Market Definition
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 low pressure and temperature. The system offers heat on condensing at a higher temperatures and pressure, which is done by a fluid which is called refrigerant.
Drivers
The surge in sales of consumer appliances across the globe acts as one of the major factors driving the growth of the refrigerant market. The high demand for domestic air conditioning systems, owing to a significant rise in per capita disposable incomes, and the rise in the demand for better maintenance of industrial equipment that needs cold surroundings to accelerate the market growth.
The continuous advancements in the cold chain sector and the rise in the demand for absorption chillers in oil & gas refineries further influence the market. Additionally, the expansion of various end-use industries, rapid urbanization, change in lifestyle, high disposable income and the presence of various compliances positively affect the refrigerant market. Furthermore, the high demand for natural refrigerants extends profitable opportunities to the market players in the forecast period.
Opportunities
The region is witnessing stricter environmental regulations and policies aimed at reducing greenhouse gas emissions and phasing out ozone-depleting substances. This shift has created a need for environmentally friendly refrigerants, such as hydrofluorocarbons (HFCs) with lower global warming potential (GWP) and natural refrigerants like hydrocarbons (HCs) and carbon dioxide (CO2). Companies specializing in these alternative refrigerants can tap into this growing market.
Restraints/Challenges
Stringent regulations against fluorocarbon refrigerants and flammability and toxicity issues are expected to obstruct market growth. Concerns regarding the illegal trade of refrigerants are projected to challenge the refrigerant market in the forecast period.
Recent Development
The Asia-Pacific Refrigerant Market is segmented on the basis of type, application and industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Application
Industry
The Asia-Pacific refrigerant market is analysed and market size insights and trends are provided by country, type, industry, and application, 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, and Rest of Asia-Pacific (APAC) in Asia-Pacific.
Japan is expected to dominate the refrigerant market owing 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The Asia-Pacific refrigerant market competitive landscape provides details by competitors. 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 Asia-Pacific refrigerant market.
Some of the major players operating in the Asia-Pacific refrigerant market are:
SKU-
To support market growth and help clients navigate the impact of geopolitical shifts, DBMR has integrated in-depth supply chain analysis into its Asia Pacific Refrigerant Market research reports. This addition empowers clients to respond effectively to global changes affecting their industries. The supply chain analysis section includes detailed insights such as Asia Pacific Refrigerant Market consumption and production by country, price trend analysis, the impact of tariffs and geopolitical developments, and import and export trends by country and HSN code. It also highlights major suppliers with data on production capacity and company profiles, as well as key importers and exporters. In addition to research, DBMR offers specialized supply chain consulting services backed by over a decade of experience, providing solutions like supplier discovery, supplier risk assessment, price trend analysis, impact evaluation of inflation and trade route changes, and comprehensive market trend analysis.
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.