Global Low GWP Refrigerants Market to See High CAGR Growth of 11.83% by 2026

Global low GWP refrigerants market is expected to rise from its initial estimated value of USD 16.40 billion in 2018 to an estimated value of USD 40.11 billion by 2026, registering a CAGR of 11.83% in the forecast period of 2019-2026. Increasing demands for the air conditioners and refrigerators are the major factor for the growth of this market.

A refrigerant is a substance or mixture which is used in cooling mechanism like air conditioner or refrigerator. They act as a heat carrier which changes gas to liquid and back to gas in refrigeration cycle. One of the most common commercial refrigerants is chloroflurocarbons or CFCs because they have high ozone damaging potential. Ammonia, Sulphur dioxide and non-halogenated hydrocarbons are other refrigerants which are used in other applications. Refrigerants have favourable thermodynamics properties are free from toxicity and flammability.

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Competitive Analysis: Global Low GWP Refrigerants Market

Global low GWP refrigerants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of low GWP refrigerants market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Low GWP Refrigerants Market

Few of the major competitors currently working in low GWP refrigerants market are Linde Group, Honeywell International Inc., Sinochem, Airgas, Chem., Engas Australasia, A-gas, Puyang Zhongwei Fine Chemical Co., Ltd., Harp International Ltd., Tazzetti S.p.A., The Chemours Company, Mexichem S.A.B. de C.V., Airedale Air Conditioning, Dongyue Group Co., Ltd., Zheijang Juhua Co., Jiangsu Meilan Chemica Co. Ltd.

Segmentation: Global Low GWP Refrigerants Market

• By Type (Inorganics, Hydrocarbons, Flurocarbons)
• By Applications (Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration)
• By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Market Drivers:

• Low GWP refrigerators have low impact on the environment.
• They have long term viability.

Market Restraints:

• High initial capital investment cost
• Less awareness and knowledge in Heat, ventilation and air conditioner (HVAC) contractor.

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints
• Key Market players involved in this industry
• Detailed analysis of the Market Segmentation
• Competitive analysis of the key players involved

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