Secondary Refrigerants Market Size, Share, Trends, Growth 2032

Secondary Refrigerants Market Insights

Zion Market Research has published a report on the global Secondary Refrigerants Market, estimating its value at USD 763.39 Million in 2023, with projections indicating that it will reach USD 1466.06 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.52% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Secondary Refrigerants industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

Request Free Sample

Secondary Refrigerants Market: Overview

Secondary refrigerants are liquids that utilized for transferring heat from substance that is being cooled to the exchanger of heat where heat is absorbed by a primary refrigerant. Citing an instance, in an air conditioner air acts as secondary refrigerant. Moreover, the materials are utilized as transport medium of cooling capacity in huge air refrigeration units. Additionally, secondary refrigerants possess key characteristics like outstanding heat transfer, low viscosity, non-corrosiveness, cost-efficiency, high specific heat, and chemical stability. Apparently, chilled water is utilized as secondary refrigerant in high-temperature applications, while calcium chloride brines and propylene glycols find applications as secondary refrigerants in heat pumps, industrial refrigeration, and commercial refrigeration.

Secondary Refrigerants Market: Growth Factors

The popularity of secondary refrigerants can be attributed to its non-toxic nature, safe usage, and incombustibility. Massive industrialization across the globe is anticipated to boost the growth of secondary refrigerants market over the estimated timespan.  Humungous usage of secondary refrigerants for regulating the intermittent increase of heat loads will boost the market trends.

Furthermore, primary refrigerants undergo change in the phase but it is not so with secondary refrigerants, and this feature of the compound is anticipated to create lucrative growth avenues for the secondary refrigerants market over the forthcoming years. Additionally, refrigeration units utilizing secondary refrigerants require less monitoring at the time of operating of the system and this will create lucrative demand for the product over the next couple of years.

Furthermore, rise in the use of secondary refrigerants in oil & gas, pharmaceuticals, and chemical & petrochemical industry as coolants & heat recovering fluids will enlarge the scope of the industry in the near future.

Secondary Refrigerants Market: Report Scope

Asia Pacific Market To Experience Massive Growth By 2032

The growth of the secondary refrigerants market in Asia Pacific zone over 2020-2026 is attributed to ongoing sustainable energy projects in the countries like China and Japan that will result in humungous demand for secondary refrigerants in these countries. In addition to this, swift industrialization in the sub-continent is predicted to create new growth avenues for the business in the region over the estimated timespan and increase the market penetration.  

Secondary Refrigerants Market: Competitive Space

The secondary refrigerants market profiles key players such:

• The Linde Group
• Eastman Chemical Company
• Tazzetti S.P.A
• The DOW Chemical Company
• Climalife Groupe Dehon
• A-Gas International
• Arteco Coolants
• Clariant AG
• Temper Technology Ab

The global secondary refrigerants market is segmented as follows:

By Type

• Glycols
• Salt Brines
• Carbon Dioxide
• Heat Pumps

By Application

• Commercial Refrigeration
• Industrial Refrigeration
• Heat Pumps
• Air Conditioning

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa