Global Refrigerant Market is expected to reach 1,887.50 Thousand Metric Tons by 2024 from 1,244.18 Thousand Metric Tons in 2016, at a CAGR of 5.5% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Major Players:

Arkema SA
Dongyue Group Ltd
Honeywell International Inc.
The Chemours Company
The Linde Group
Daikin Industries, Ltd.
Mexichem S.A.B. de C.V.
Sinochem Group
Air Liquide
A-Gas
Shandong Yue’an Chemical Co., Ltd
Gas Servei
Zhejiang Fotech International Co. Ltd.
Srf Limited
Asahi Glass Co., Ltd
Quimobasicos SA de CV
Changshu 3F Fluorochemical Industry Co., Ltd.
OZ-Chill Refrigerants
Tazzetti S.P.A.
Among others.
Segmentation:

By Industry
Domestic household refrigeration (Hydrocarbons (propane, isobutene and others), Fluorocarbons (HCFC’s, HFC’s and hydrofluro olefins)),
Light commercial refrigeration (Carbon dioxide, Hydrocarbons (propane, isobutene and others), Fluorocarbons (HCFC’s, HFC’s and hydrofluro olefins), low GWP alternatives),
Commercial racks and condensing units (Carbon dioxide, Hydrocarbons (propane, isobutene and others),
Fluorocarbons (HCFC’s, HFC’s and hydrofluro olefins),
low GWP alternatives and ammonia),
Industrial refrigeration ( Carbon dioxide, Hydrocarbons (propane, isobutene and others),
Fluorocarbons (HCFC’s, HFC’s and hydrofluro olefins), low GWP alternatives and ammonia),
By Geography
North America,
Europe,
Asia-Pacific,
South America,
Middle East and Africa
Drivers:

The major factors driving the growth of this market are the China focusing on natural refrigerants, technological changes such as low GWP refrigerants.
Growth in the cold chain market, increase in the disposable income leading to rise in purchasing power of consumer appliances are some of the other factors which boost the market growth.
TECHNOLOGICAL CHANGES SUCH AS LOW GWP REFRIGERANTS

Low GWP (Global Warming Potential) is low global warming potential in the use of the refrigerant.
GWP is the measurement of the greenhouse gases when it is released into the atmosphere and act as an indicator against (Carbon Dioxide) CO2, signifies GWP equals to one.
Following are the related statistics which shows the adoption of the usage of low GWP from some of the market players –
In November, 2016, Honeywell launches Solstice N40 (R-448A), new lower GWP refrigerant for Japan supermarket in order to meet hydrofluorocarbon phasedown and reduction in consumption of energy.
In October, 2014, DuPont has introduces the low GWP, hydro fluoroolefin (HFO) based refrigerants for commercial refrigeration with respect of the replacing the enable products due the growing regulations which restricts the utilization of high GWP refrigerants.
INCREASE IN THE DISPOSABLE INCOME LEADING TO RISE IN PURCHASING POWER OF CONSUMER APPLIANCES

Rise in the disposable income will automatically increase the purchasing power, which will lead to the demand of home appliances.
Other factor consists of different cost made by different competitors, energy efficiency norms of diiferent products, brand names along with various differentiating features.
For instance, appliances with more number of energy stars are mostly preferred by the people.
Following are the statistics related to the rise in the disposable income as well as purchasing power are –

For instances, According to Statista, Around 10.0 million units of refrigerators are sold each year in the United States and shipment of freezers within the U.S. amount to more than 2.0 million units every year.
According to Statista, in 2016, in U.S. shipment of refrigerator accounts 10.9 million.
Net annual growth rate of household disposable income, 2016


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