The Worldwide Refrigerant Industry is Projected to Reach $25.5 Billion by 2028

Dublin, June 29, 2022 (GLOBE NEWSWIRE) -- The "Global Refrigerant Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type and Application" report has been added to's offering.

The refrigerant market was valued at US$ 16,458.3 million in 2021 and is projected to reach US$ 25,534.6 million by 2028; it is expected to grow at a CAGR of 6.5% from 2021 to 2028.

Refrigerant is a compound found in either a liquid or gaseous state. It absorbs heat from the environment and can provide refrigeration or air conditioning when combined with other components such as compressors and evaporators in the refrigeration cycle. The features of refrigerant, such as thermal stability, minimal toxicity, non-corrosiveness, and non-combustibility, make it suitable for use in light vehicle air conditioning. Refrigerants are used in refrigeration systems for manufacturing, chemicals, food & beverages, pharmaceuticals, and various other industries.

The major factors driving the refrigerant market are the rise in demand for refrigeration systems and the increase in per-capita income in developing economies. The COVID-19 pandemic has further decreased the demand for refrigerants due to the slowdown of major economies across the globe. Furthermore, the growth in the automotive and electronics industries in various countries across the globe is projected to offer lucrative opportunities for the refrigerant market during the forecast period. However, the fluctuations in the prices of raw materials and stringent regulations against fluorocarbon refrigerants are expected to hamper the refrigerant market growth during the forecast period.

In 2020, Asia Pacific held the largest revenue share of the global refrigerant market. The major factor driving the refrigerant market in the Asia Pacific region is the high demand for refrigerants from manufacturing, food & beverages, healthcare, and automotive industries.

Strong electronics and food & beverages industries in countries such as Japan, South Korea, China, and India create a strong demand for refrigerants used in refrigerator and air conditioner manufacturing. The fast economic growth, coupled with an increase in purchasing power, especially in developing economies, has led to a surge in the consumption of chillers and mobile air conditioning (MAC). The growing automotive industry creates a massive demand for air conditioning systems in the Asia Pacific, further contributing to the refrigerant market growth in the region.

The Chemours Company; Arkema; Honeywell International Inc.; Linde plc; Air Liquide; Dongyue Group; SINOCHEM GROUP CO., LTD.; DAIKIN INDUSTRIES, Ltd.; AGC Inc.; and Airgas, Inc. are among the major players operating in the global refrigerant market. Players operating in the global refrigerant market are constantly focusing on strategies such as investments in research and development activities and new product launches. These market players are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Graphene Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Raw Material Suppliers
4.3.2 List of Manufacturers
4.3.3 List of Distributors
4.3.4 List of End Users
4.4 Expert Opinion

5. Graphene Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in demand for air conditioning
5.1.2 Increase in per-capita income in the developing economies
5.2 Market Restraints
5.2.1 Stringent regulation against fluorocarbon refrigerants
5.3 Market Opportunities
5.3.1 Growing consumption of eco-friendly refrigerants
5.4 Future Trends
5.4.1 Surging demand for energy efficient refrigerant
5.5 Impact Analysis of Drivers and Restraints

6. Graphene - Market Analysis
6.1 Graphene Market Overview
6.2 Graphene Market - Revenue and Forecast to 2028
6.3 Competitive Positioning - Key Market Players

7. Global Graphene Market Analysis - By Type
7.1 Overview
7.2 Graphene Market By Type (2020 and 2028)
7.3 HCFC
7.3.1 Monolayer and Bilayer: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.4 HFC
7.4.1 Graphene Nano-platelets : Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.5 HFO
7.5.1 Graphene Oxide : Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Isobutane
7.6.1 Others : Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Propane
7.7.1 Propane: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.8 Ammonia
7.8.1 Ammonia: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.9 Carbon Dioxide
7.9.1 Carbon Dioxide: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
7.10 Others
7.10.1 Others : Graphene Market - Revenue and Forecast to 2028 (US$ Million)

8. Graphene Market Analysis - by Application
8.1 Overview
8.2 Graphene Market by Application (2020 and 2028)
8.3 Refrigeration Systems
8.3.1 Refrigeration Systems : Graphene Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Chillers
8.4.1 Chillers: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Air-Conditioning Systems
8.5.1 Air-Conditioning Systems: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
8.6 MACs
8.6.1 MACs: Graphene Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Others: Graphene Market - Revenue and Forecast to 2028 (US$ Million)

9. Graphene Market - Geographic Analysis

10. Impact of COVID-19
10.1 Overview - Impact of COVID-19
10.2 Impact of COVID-19 on Graphene Market
10.3 North America: Impact Assessment of COVID-19 Pandemic
10.4 Europe: Impact Assessment of COVID-19 Pandemic
10.5 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.6 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.7 South America: Impact Assessment of COVID-19 Pandemic

11. Company Profiles
11.1 Linde plc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Air Liquide
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Dongyue Group
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 AGC Inc.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Airgas, Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Others
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments

12. Appendix

For more information about this report visit


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