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Refrigerants play a promising role in reducing increasing concerns regarding global warming and ecological footprints of the refrigeration and air conditioning industries. Currently, ammonia, sulphur dioxide and non-halogenated hydrocarbons, including propane, are the most commonly used refrigerants which serve as alternatives to hydro chlorofluorocarbons across a diverse range of applications. A report by IndustryARC estimates that the global refrigerants market, which stood at $23.5 billion in 2018, is set to grow at a CAGR of 7.6% over the forecast period 2019-2025. A recent computational study of National Institute of Standards and Technology (NIST) presents that more than a dozen chemical blends are suitable to replace today’s refrigerants. As these alternative refrigerants oppose heating up atmosphere and also catching up fire. This study has identified nearly 22 best nonflammable and marginally flammable blends with lower global warming potential, which are more apt in case of AC systems. Actually this analysis has been performed specifically for the U.S. military but now it is applicable for civilian applications which include AC systems for cars and homes.
Refrigerants
Australia is an industry, which works proactively with Government, focused to
provide real environmental benefit during the prosperity of industry. This
industry plays a vital role in handling the developments especially in the air
conditioning and refrigeration industries of Australia. And also in reducing
the footprints of the same on the environment. The major focus of refrigerants Australia
projects for 2018 and 2019 is to provide training about the safe usage of
refrigerants and managing safety issues along with the increased concentration
on flammable refrigerants.
Refrigerant Market: Leading Segments
Puron Advance is one of the latest advances in the
refrigerants market, which cause the least environmental impact. It is
identified as the next generation refrigerant, which act as a ducted residential solution especially
in the North America region. There is widespread adoption of R-410A in
residential air conditioning (AC) units by manufacturers, as these don’t damage the
ozone layer. Residential application has been acknowledged as the fastest
growing segment among commercial, automobile and industrial applications, which
is growing at a CAGR of 9.5% throughout the forecast period.
According to the World Health Organization, in Asia-Pacific less than 8% of people are inhaling a clean breathe and rest of the 92% populous that is nearly 4 billion people are exposed to the risk of air pollution. Increasing air pollution in this region can be reduced by eliminating usage of hydro fluorocarbon refrigerants in air conditioners. Natural refrigerants have become the preferred choice for companies in meeting objectives such as maintaining the ecological balance. Usage of these ecofriendly refrigerants boosts the revenue of the cold storage industry in Indonesia. Additionally, HVAC&R (Heat, Ventilation, AC, and Refrigeration) stakeholders of Southeast Asia are spreading the news of advantageous natural refrigerants usage across the world, through atmosphere conferences and exhibition centres. Higher adoption rate associated with the ozone-and climate friendly refrigerants in the domestic markets especially in the South and South East Asia regions to provide good services and to gain excellence in the competency for the same. In 2018, shecco organized ATMOsphere Asia, which has highlighted the natural refrigerants integrated services & products and the advanced use of five natural refrigerants namely carbon dioxide (CO2), hydrocarbons (HC), ammonia (NH3), water and air with other allies. Thus, the APAC region occupied a large share of about 42% in the global refrigerants market, in 2018.
Refrigerant Market: Disruptive Trends
o Demand for refrigerants worldwide are being driven by increasing desire for causing zero ozone depletion, which is shifting demand towards refrigerants which have lower potential for causing global warming.
o Development of novel synthetic
refrigerants and natural refrigerants are driving growth of refrigerants in the
refrigeration and air conditioning industries.
o Increasing
usage of refrigerants with low global warming potential, in order to avoid the
impact of synthetic greenhouse gases in the atmosphere has been boosting the
global refrigerant market demand.
o Environmental
regulations are encouraging newer and more efficient refrigerants to reduce
the use of chemicals which are harmful to the surroundings. The U.S. Environmental
Protection Agency has mandated phasing out the Freon refrigerant usage by 2020.
Refrigerant Market: Major Players
Some of the major refrigerant players operating in the
global refrigerant market are Arkema S.A., Honeywell International Inc., The
Chemours Company, Dongyue Group Co. Ltd., The Linde Group, Sinochem Lantian Co.
Ltd., Daikin Industries, Mexichem, Air Liquide, and Asahi Glass Corporation.
Talk to one of our sales representative about the full
report by providing your details in the link below:
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Related Reports:
A. Ammonia Refrigerant Market
https://www.industryarc.com/Report/1276/Ammonia-Refrigerant-Market-analysis-report.html
B. Natural Refrigerants Market
https://www.industryarc.com/Report/15239/natural-refrigerants-market.html
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.