Low GWP Refrigerants : Industry Size, Share, Key Players, ROI Analysis, Trend and Forecast to 2027 | Top Manufacturers
Market Overview
Global
low (GWP) refrigerants are essential fluid for absorbing heat. An increase in
extreme weather condition such as severe droughts and heat waves owing to
global warming has propel market demand for low GWR refrigerants. According to
the National Oceanic and Atmospheric Administration (NOAA), average earth
surface temperatures increased around 1.71 degrees Fahrenheit in between 1880
and 2016. Burning of fossil fuels has resulted in such temperature change,
negatively impacting the environment. Thus, environment friendly attributes of
low GWP refrigerants is expected to boost the market.
Changing
consumer living habits demanding comfortable lifestyle is increasing the need
for refrigerants and air conditioners at home. For instance, Japan
Refrigeration and Air Conditioning Industry Association (JRAIA) reported that
world room air conditioners demand reached 96.05 million units in 2017
increased to 8.2% from previous year. Increase in number of air conditioners
sale to household is a key factor driving the market.
Competitive Analysis
The
leading players in the global low GWP refrigerants market are Daikin
industries, Ltd. (Japan), Honeywell International Inc (U.S.), The Linde
Group (Ireland), The Chemours Company (U.S.), Arkema (France), GTS SPA
(Italy), SOL Spa (Italy), Mexichem S.A.B de C.V. (Mexico), ), Harp
International Ltd (UK), HyChill (Australia), Tazzetti S.p.A (Italy), Puyang
Zhongwei Fine Chemical Co. Ltd (China), Airgas, Inc (U.S.), A-Gas International
(UK), The natural refrigerants company Pty ltd (Australia), Brothers Gas (UAE),
engas Australasia (Australia), Sinochem Lantian co., Ltd (China) and E.F.
International (U.S.)
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Regional Analysis
Europe
contributes the largest share in the global low GWP refrigeration market due to
favorable government directive such as F-Gas Regulation 517/2014. Asia Pacific
is significantly growing market for air conditioners and refrigerants owing to
rise in cold chain market and demand for household refrigeration.
The
regional market in Latin America and Middle East & Africa is projected to
grow with healthy CAGR owing to demand for refrigerants from food &
beverage industry couple with rise in temperature in Middle East.
Market Segmentation
The
global low GWP refrigerants market has been segregated on the basis of types,
application, and region.
By
types, the global low GWP refrigerants market is divided into inorganics,
fluorocarbons and hydrocarbons. The hydrocarbons segment held significant
market share in 2017 and is expected to lead during the forecast period owing
to its low environmental impact compared to fluorocarbons.
On
the basis of application, the global low GWP refrigerants market has been
divided into industrial refrigeration, domestic refrigeration, commercial
refrigeration, mobile air-conditioning, stationary air-conditioning, and
others. In 2017, the commercial refrigeration segment held the largest share of
this market. Commercial refrigeration is mostly used in large capacity freezer
to store food and beverage. Thus, rising in demand for oversized freezers in
hotels and restaurants is projected to fuel the commercial refrigeration
segment by 2023.
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TABLE
OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1
Market Definition
2.2
Scope Of The Study
2.2.1
Research Objectives
2.2.2
Assumptions & Limitations
2.3
Markets Structure
3 Market Research Methodology
3.1
Research Process
3.2
Primary Research
3.3
Secondary Research
3.4
Forecast Model
4 Market Landscape
4.1
Supply Chain Analysis
4.1.1
Raw Material Suppliers
4.1.2
Manufacturers/Producers
4.1.3
Distributors/Retailers/Wholesalers/E-Commerce Merchants
4.1.4
Application
4.2
Porter’s Five Forces Analysis
4.2.1
Threat Of New Entrants
4.2.2
Bargaining Power Of Buyers
4.2.3
Bargaining Power Of Suppliers
4.2.4
Threat Of Substitutes
4.2.5
Intensity Of Competitive Rivalry
5 Industry Overview Of Global Low GWP Refrigerants
Market
5.1
Introduction
5.2
Drivers
5.3
Restraints
5.4
Opportunities
5.5
Challenges
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