The latest research study “Aerosol Refrigerants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global aerosol refrigerants market reached a value of US$ 1.06 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.44 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
Refrigerants are a combination of several working fluids, gases, and fine solid particles evenly distributed in refrigeration cycles and heat pumps. Chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) are commonly used aerosol refrigerants. They are non-toxic, non-flammable, and cost-effective in nature and are widely used in air conditioning systems, refrigerators, and chillers for maintaining optimum temperature. As a result, aerosol refrigerants find extensive applications across commercial, industrial, and residential sectors.
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Aerosol Refrigerants Market Trends and Drivers:
The market is primarily driven by the escalating demand for various consumer appliances, such as chillers, refrigerators, and heating, ventilation, and air conditioning (HVAC) products across numerous industrial verticals to reduce power consumption. Moreover, the widespread adoption of aerosol refrigerants in the residential sector owing to the increasing construction activities represents another major growth-inducing factor.
Besides this, various technological advancements, such as the introduction of carbon dioxide (CO2) cascade and cold chain solutions infused with propane-based cooling systems, are providing a thrust to the market growth. Along with this, extensive investments in research and development (R&D) activities and strategic collaborations among leading players to launch steel aerosol refrigerants that exhibit recyclable and sustainable properties while reducing production costs are propelling the market growth.
Furthermore, rapid commercialization and urbanization, evolving living standards, and inflating disposable incomes of individuals are some of the other factors creating a positive market outlook across the globe.
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Global Aerosol Refrigerants Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
A-Gas, Arkema S.A., Baltic Refrigeration Group, Daikin Industries Ltd., Dongyue Group, Fastenal Company, Groupe Gazechim, Honeywell International Inc., Navin Fluorine International Limited, Sinochem Corporation, SRF Limited (Kama Holdings Ltd.), Technical Chemical Company and The Chemours Company.
The report has segmented the market on the basis of region, product, container type and end use sector.
Breakup by Product:
- HFC-143a
- HFC-32
- HFC-125
- SF6
- Others
- Steel
- Aluminum
- Residential
- Commercial
- Industrial
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
