Refrigerants Market | Exactitude Consultancy Reports
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Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane), Application (Refrigeration System, Air Conditioning System, Chillers, MAC) and by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa) Global Trends and Forecast from 2022 to 2029
The global refrigerants market was valued at 6.20 billion in 2022 and is projected to reach 9.45 billion by 2029, growing at a CAGR of 6.2% from 2022 to 2029.
Chemicals that can exist in a fluid or gaseous state are referred to be refrigerants. It assists in absorbing heat energy from the air and helps generate a cooling system or refrigeration when combined with other components like compressors and refrigeration systems. A refrigerant is a substance that is utilized in a combustion process to transfer energy. Most of the time, it is in a gaseous condition at room temperature.
Segment Analysis
Based on type, application and geography, the global market for Refrigerants is divided into these categories.
On the basis of type Refrigerants is divided into four types HFC & Blends, HFO, Isobutane, Propane.
Throughout the forecast period, hydrofluoro-olefins (HFO), the fourth generation of fluorine-based gases, are expected to grow at the quickest rate (HFOs). Hydrogen, fluorine, and carbon atoms are bound together by a single bond to form HFC refrigerants. HFO refrigerants are composed of carbon, fluorine, and at least one double bond between the carbon atoms. The first HFO created jointly by DuPont and Honeywell was HFO 1234yf, sold under the trade names Opteon YF and SOLSTICE YF. This replaces R134a for mobile air conditioning (MAC) systems with a low GWP. HFO refrigerants are more environmentally friendly than CFCs, HCFCs, and HFCs since they have zero ODP and a low GWP.
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