Global Aerosol Refrigerants Market to Reach US$ 1.5 Billion by 2028, Propelled by Increasing Adoption in the Cold Chain Industry

August 18, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Aerosol Refrigerants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global aerosol refrigerants market size reached US$ 1.1 Billion in 2022. Aerosol refrigerants are specialized chemical products designed for use in refrigeration systems, especially in aerosol form. They are formulated with precise combinations of chemicals and propellants that allow them to be easily dispersed in the form of fine particles or droplets. Besides this, they assist in preserving various products and providing efficient and controlled cooling effects. As they are widely utilized in a wide range of cooling equipment, such as refrigerators, air conditioners, and automotive cooling systems, the demand for aerosol refrigerants is increasing across the globe.


Global Aerosol Refrigerants Market Trends:

At present, the rising demand for energy-efficient and eco-friendly refrigeration solutions represents one of the major factors contributing to the growth of the market. In line with this, the increasing adoption of aerosol refrigerants due to their ease of application and enhanced cooling efficiency is strengthening the growth of the market. Apart from this, the growing demand for aerosol refrigerants in the cold chain industry for preserving perishable goods during transportation and storage is positively influencing the market. In addition, increasing preferences for aerosol refrigerants that offer low global warming potential (GWP) and prevent ozone depletion is bolstering the growth of the market. Besides this, the rising demand for various consumer appliances, such as refrigerators, chillers, and heating, ventilation, and air conditioning (HVAC) products, is supporting the growth of the market. Looking forward, the market value is projected to reach US$ 1.5 Billion by 2028, expanding at a CAGR of 4.3% during 2023-2028.
 

Market Summary:

  • Based on the product, the market has been segregated into HFC-143a, HFC-32, HFC-125, SF6, and others. At present, HFC-143a dominates the market, holding the largest share.
  • On the basis of the container type, aluminum exhibits a clear dominance in the market, followed by steel.
  • Based on the end use sector, the market has been classified into residential, commercial, and industrial. Presently, residential represents the biggest market segment.
  • Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some of the key players being A-Gas, Arkema S.A., Baltic Refrigeration Group, Daikin Industries Ltd., Dongyue Group, Fastenal Company, Groupe Gazechim, Honeywell International Inc., Navin Fluorine International Limited, Sinochem Corporation, SRF Limited (Kama Holdings Ltd.), Technical Chemical Company and The Chemours Company.

Report Scope:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product, Container Type, End Use Sector, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered A-Gas, Arkema S.A., Baltic Refrigeration Group, Daikin Industries Ltd., Dongyue Group, Fastenal Company, Groupe Gazechim, Honeywell International Inc., Navin Fluorine International Limited, Sinochem Corporation, SRF Limited (Kama Holdings Ltd.), Technical Chemical Company and The Chemours Company
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Global Aerosol Refrigerants Market to Reach US$ 1.5 Billion by 2028, Propelled by Increasing Adoption in the Cold Chain Industry
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