Hydrocarbon Refrigerants Market Size, Share & Industry Analysis, By Type (Propane, Isobutane, Propylene, Others), By Application (Refrigerators, Chillers, Air Conditioners, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105252 | Status : Ongoing

KEY INDUSTRY INSIGHTS

The hydrocarbon refrigerants are mainly use where safety of the fuel gases is required, it is highly prescribed in the petroleum & gas. The hydrocarbon refrigerants are categorized into propane, isobutene, and propylene. Additionally, the product is natural, nontoxic refrigerants, and has zero ozone depletion potential. It provides excellent thermodynamic properties, and good compatibility with components. These properties makes hydrocarbon refrigerants as a preferred choice over fluorocarbon refrigerants. The product finds its utilization in a wide range of applications such as refrigerators, chillers, and air conditioners.

The increasing adoption of hydrocarbon refrigerants over fluorocarbon refrigerants will help to fuel the market growth. The hydrocarbon refrigerants are environmentally-friendly and provide more efficient cooling owing to its high latent heat of evaporation. These benefits make hydrocarbon refrigerants as an ideal choice over fluorocarbon refrigerants. It also aids to provide greater energy efficiency to the refrigerators. It is also used in commercial refrigeration, cold storage and food processing, vending machines, industrial refrigeration, small air conditioning systems, and large air conditioning. Hence, the rising for the product in these applications will fuel the hydrocarbon refrigerants market growth during the forecast timeline.

However, hydrocarbon refrigerants are highly flammable in nature, which can be dangerous to the people. This further restricts its adoption in various applications and is anticipated to hamper the market growth.

Key Market Driver -

The rising demand for hydrocarbon refrigerants over fluorocarbon refrigerants to drive the market growth.

Key Market Restraint -

The high flammability to hydrocarbon refrigerants to restrict the market growth

Market Segmentation:

Based on type, the hydrocarbon refrigerants market is segmented into propane, isobutene, propylene, and others. Based on application, the market is segmented into refrigerators, chillers, air conditioners, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players Covered:

The key players in the hydrocarbon refrigerants market include Puyang Zhongwei Fine Chemical Co. Ltd., The Linde Group, A-Gas International, Sinochem Group, GTS S.P.A, Airgas Inc., Hychill Australia Pvt. Ltd., Harp International Ltd., Shandong Yueon Chemical Industry Ltd., Engas Australasia, Tazzetti S.P.A., and A.S. Trust and Holdings.

Key Insights

Key Emerging Trends – For Major Countries

Key Developments: Mergers, Acquisition, Partnership, etc.

Latest Technological Advancement

Insights on Regulatory Scenarios

Porters Five Forces Analysis

Regional Analysis:

Asia Pacific is anticipated to witness sustainable growth in the hydrocarbon refrigerants market. The growth is attributed to the rising adoption of the product in the refrigerator application. The increasing demand for propane based hydrocarbon refrigerants in the air conditioners will fuel the market growth in Europe. The higher adoption of propylene hydrocarbon refrigerants in the chillers will fuel the market growth in North America, in which the US and Canada are the leading countries. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the product in the refrigerators.

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Segmentation

ATTRIBUTES	DETAILS
By Type	Propane Isobutane Propylene Others
By Application	Refrigerators Chillers Air Conditioners Others
By Geography	North America (U.S. and Canada) Europe (UK, Germany, France, Italy, Spain, and Rest of Europe) Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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