Global Refrigerant Market Forecasta to 2024 - Increasing Threats of Ozone Depletion and Global Warmi

http://www.chinaiol.com   2017/12/25 9:29:23   Source:www.businesswire.com  

The "Global Refrigerant Market Analysis, Company Profiles, Size, Share, Growth, Trends and Forecast to 2024" report has been added to Research and Markets’ offering.

The Global Refrigerant Market is accounted to reach 1,887.50 Thousand Metric Tons by 2024 from 1,244.18 Thousand Metric Tons in 2016, it is growing at a CAGR of 5.5% in the forecast period 2017 to 2024. 

Drivers

    China Focusing on Natural Refrigerants as Advised by Mep/Feco China

    Technological Changes Such as Low Gwp Refrigerants

    Growth in the Cold Chain Market

    Increase in the Disposable Income Leading to Rise in Purchasing Power of Consumer Appliances

Restraints

    Government Regulation on Cutting Down Hfc Emission

    Banned Gases Owing to Regulation Such as Snap

    Increasing Threats of Ozone Depletion and Global Warming

Opportunity

    Changes in the Market Owing to Protocols Such as Eu-F-Gas and Montreal Protocol

    Phasing Out of Hfc & Hcfc Paving Way for New Technologies

Challenges

    Changes in Regulation Such as the Montreal Protocol

    Increase in Complexity Owing to Old Refrigerants Phasing Out

In 2017, domestic household based market segment is expected to dominate the global refrigerant market with 43.3% market share and is expected to reach 836.49thousand metric tons by 2024, growing with the highest CAGR of 5.8%.

In 2017, refrigerators based market segment is expected to dominate the global refrigerant market with 38.7% market share and is expected to reach 759.11 thousand metric tons by 2024, growing with the highest CAGR of 6.1%.