Secondary Refrigerants Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts, 2018–2024

Report Code: ZMR-2918 | Report Format : | Status : Upcoming |

Abstract

Global Secondary Refrigerants Market: Overview

Secondary Refrigerants are generally liquids that transfer the heat from the substance that is being cooled in a heat exchanger where the heat is being absorbed by a primary refrigerant. These transfer the thermal energy from one point to another. These are used in air conditioning systems where they don’t undergo any phase change as they transport energy from one location to another. Secondary refrigerants are also known as heat transfer fluids. These have to be environment-friendly and usually chilled water is used as a secondary refrigerant in air conditioners. Demand for natural refrigerants has somehow increased the market for secondary refrigerants.

Global Secondary Refrigerants Market: Growth Factors

Rising manufacture sector and industrialization are expected to drive the market for secondary refrigerants. The growth in air conditioning industry and oil and gas industry is leading, in turn, the demand for secondary refrigerants. The healthcare and pharmaceutical plants use these coolants to maintain the temperature of their furnace and equipment process and hence driving the market. The desire for natural and less toxic refrigerants is also a major factor for propelling the growth of the market. Lesser impact on the environment and phasing out of the HCFCs and HFCs refrigerants is also expected to drive the market. Being relatively expensive as compared to the direct refrigeration system is one restraining cause for the market. High energy efficiency, non-toxicity, and non-flammability have helped gain the demand for these refrigerants over time. Commercialization and increasing manufacturing sector are also helping the growth of the market. Strengthening cold chain infrastructure and government initiatives are expected to help in booming of the market. The glycol sub-segment is expected to hold the largest market share across the globe.

Global Secondary Refrigerants Market: Segmentation

The secondary refrigerants market can be segmented on basis of type, application, and region. In terms of type, the market is fragmented into glycols, carbon dioxide, salt brines and others. By application, the market is divided into commercial refrigeration, heat pumps, air conditioning and industrial refrigeration. On basis of region, the market is classified into, North America, APAC, Middle East and Africa, Europe, and South America. 

Global Secondary Refrigerants Market: Regional Analysis

Europe is expected to dominate the global market for secondary refrigerants due to well-developed industrialization and developed solar plants which attribute to energy requirements. Glycol segment is expected to hold the largest market share as glycol provides freeze protection for closed loops systems. APAC is expected to show some significant growth due to the development of renewable energy sector and increasing demand for low GWP and ODP refrigerants as per the government initiatives. North America is expected to show a stable growth in the end-user industry.

Global Secondary Refrigerants Market: Competitive Players

Some of the crucial players in the secondary refrigerants market are, A-Gas International(UK), Dow Chemical Company(US), Temper Technology AB(Sweden),Linde Group(Germany), Eastman Chemical Company(US), Arteco Coolants(Belgium), Gas Servei SA(Spain), and among others.

Global Secondary Refrigerants Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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