R410A refrigerants to provide higher cooling capacity and significantly higher pressure, these are key factors responsible for the market revenue growth.
NEW YORK CITY, NEW YORK, USA, May 9, 2022 /EINPresswire.com/ — The global R410A refrigerant market size was significantly large in 2020 and is expected to continue registering a rapidly increasing revenue CAGR between 2021 and 2028 The major factors responsible for the market revenue growth are the ability of R410A refrigerants to provide higher cooling capacity and significantly higher pressure, compared to R-22.
A refrigerant is a fluid used in air conditioners and refrigerators. The function of a refrigerant is to absorb heat from the contents of the refrigerator or the room, in case of air conditioners, and reject it into the atmosphere. A typical refrigerant undergoes a phase change from liquid to gas when absorbing heat, and back to liquid when a compressor compresses it. There are different types of refrigerants available, such as chlorofluorocarbons (CFCs), hydroflurocarbons (HFCs), and hydrochlorofluorocarbons (HCFCs). The application of an ideal refrigerant is based on its thermodynamic properties, non-corrosive nature, and properties such as non-toxicity and non-flammability.
The use of various refrigerants and the environmental effects causing ozone depletion have been a constant topic of discussion over the past decades. Prior to the 1990s, the most commonly used refrigerant was R-12 (CFC). However, in the 1990s and 2000s, CFCs were replaced by HCFCs; the most common being R-22. HCFC refrigerants contain chlorine, which further depletes the ozone layer and therefore is phased out.
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Key companies profiled in the global market report include – Arkema SA, Dongyue Group Co. Ltd., Honeywell International Inc., The Chemours Company, The Linde Group, Air Liquide, Sinochem Lantian Co. Ltd., Daikin Industries, Mexichem , Asahi Glass company
Key Growth Factors of Global R410A Refrigerant Market:
The revenue growth of the global R410A refrigerant market is expected to be boosted by the growing plans by governments of various countries to ban the use of R-22, a very important refrigerant. Therefore, government agencies are unlikely to announce the phasing out of R410A refrigerants in the near future; at least until 2025. This represents a major chance for R410A refrigerant to capture a major share of the global market. R410A was approved for use in new residential air conditioners in 2015 in the United States. Additionally, the new AC models are designed for use with R410A for additional reliable and economical operation.
Factors restraining the growth of the global R410A refrigerant market:
In 2015, the Environmental Protection Agency (EPA) implemented a replacement rule for its vital New Alternatives Policy (SNAP). This new rule aimed to phase out HFC refrigerants, as well as R410A. Currently, no specific timetable has been published for the phase-out of R410A refrigerant. However, regular disposal standards by the independent agency are expected to pose a challenge for the global R410A refrigerant market in the coming years. Also, the emergence of a set of environmentally friendly hydrocarbon (HC) based refrigerants such as R-290 and R-600A due to their halogen-free nature, lack of potential ozone layer depletion and lower global warming potential are likely to propel the demand for R410A refrigerant in the near future.
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Type Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
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Report Scope: This report offers historical data points, forecasts, and revenue growth at the global, regional, and country levels, and provides analysis, industry trends, and consumption pattern details for each region, major countries and segment from 2018 to 2028. Global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue and market share contribution of each regional and national market. In addition, the report offers industry and competitive landscape analysis, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and region segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches and details of historical, current and projected revenues.
Global R410A Refrigerant Market: Report Highlights
Detailed overview of the R410A Refrigerant market
Changing market dynamics
R410A Refrigerant Market Segmentation
Regional landscape of the R410A Refrigerant market
Valuation of the R410A Refrigerant Market based on present and past data collected
Historical, current and projected R410A refrigerant market, in terms of volume and value
Recent trends and developments in the R410A Refrigerant market
Strategies Adopted by Key Players and Products Offered
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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2018-2028)
Middle East and Africa
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