Hydrocarbon Refrigerants Market Key Drivers, Industry Size, Regional Investments and Top Segments Data Forecast
The global hydrocarbon refrigerants market size is expected to gain momentum owing to the rising demand of product over fluorocarbon refrigerants during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Hydrocarbon Refrigerants Market, 2022-2029.” They are commonly used when the safety of fuel gases is necessary, and they are highly recommended in the petroleum and gas industries. Mainly divided into three types: Propane, isobutene, and propylene. Furthermore, the product is made up of natural, non-toxic refrigerants with no ozone depletion potential. It has excellent thermodynamic properties and is compatible with a wide range of components. It’s found in a variety of appliances, including refrigerators, chillers, and air conditioners.
Request a Sample PDF Brochure:
Covid-19 Impact on Industry Growth
The COVID-19 outbreak had an effect on the global hydrocarbon refrigerants industry, as demand for refrigerants from end-use applications fell for a brief time in early 2020. Several sectors experienced setbacks, resulting in a decrease in demand for refrigerant. The market is predicted to increase at a negative rate. However, from 2021 onwards, demand is predicted to pick up and continue throughout the forecast period.
By type, the market for hydrocarbon refrigerants is segmented into propane, isobutane, propylene, and others. On the basis of application, the market is segregated into refrigerators, chillers, air conditioners, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report for hydrocarbon refrigerants examines the demand and supply-related aspects driving the market, and key dynamics affecting the market throughout the projected period, such as drivers, constraints, opportunities, and future trends. The market has been split by type, application, and geography in this analysis. It contains the estimation of the market size in terms of value for five major geographies.
Drivers & Restraints-
Increasing Demand for Energy-Efficient Appliances to Stimulate Growth
The global hydrocarbon refrigerants market is expected to grow due to the increasing demand for energy-efficient appliances during the projected period. Increased adoption of fluorocarbon refrigerants will aid market expansion. Because of the high latent heat of evaporation, they are environmentally friendly and provide more efficient cooling. It also contributes to improving the energy efficiency. It is used in wide range of applications such as commercial refrigeration, cold storage, and food processing, vending machines, industrial refrigeration, small air conditioning systems, and huge air conditioning. The market is likely to be driven by increased product demand.
Get Your Customized Research Report
Increasing Adoption in Various Applications to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global hydrocarbon refrigerants market share during the forecast period. The rising adoption of products in the refrigerator application is expected to drive the market in the region.
North America is expected to have a sizable market. The rising demand for propylene hydrocarbon in the chillers in the US and Canada are the leading countries in the region.
Increasing Number of Mergers to Create Opportunities for Prominent Players
Few big firms currently dominate the market in terms of market share. These
market leaders are concentrating their efforts on growing their consumer base to include international countries. These businesses are taking use of strategic collaboration initiatives to grow their market share and profits.
- March 2020: Ingersoll Rand and Gardner Denver united to create a stronger, more comprehensive portfolio of mission-critical industrial, energy, medical, and specialty vehicle products and services. The new Ingersoll Rand has been positioned as a global leader in mission-critical flow creation and industrial technology due to the merger.
List of Key Players Profiled in the Global Market for Hydrocarbon Refrigerants:
- Puyang Zhongwei Fine Chemical Co. Ltd.
- The Linde Group
- A-Gas International
- Sinochem Group
- GTS S.P.A
- Airgas Inc.
- Hychill Australia Pvt. Ltd.
- Harp International Ltd.
- Shandong Yueon Chemical Industry
- Engas Australia
Read Related News:
Wood Flooring Market Size, Outlook, Geographical Segmentation, Business Challenges and Opportunities till 2029
Wood Flooring Market Size, Gross Margin, Trends, Future Demand, Analysis by Top Leading Players and Forecast till 2029
Wood Flooring Market Key Drivers, Restraints, Industry Size & Share, Opportunities, Trends, and Forecasts up to 2029
Surface Disinfectant Market Data Current and Future Trends, Industry Size, Share, Revenue, Business Growth Forecast to 2029
Surface Disinfectant Market Latest Industry Size, Growth, Share, Demand, Trends, Competitive Landscape and Forecasts to 2029
Surface Disinfectant Market Size, Outlook, Geographical Segmentation, Business Challenges and Opportunities till 2029
Surface Disinfectant Market Size, Gross Margin, Trends, Future Demand, Analysis by Top Leading Players and Forecast till 2029
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner – Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]