IMARC Group, a leading market research company, has recently releases report titled “Aerosol Refrigerants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global aerosol refrigerants market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the aerosol refrigerants market?

The global aerosol refrigerants market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.

What are aerosol refrigerants?

Refrigerants represent a chemical combination of several working fluids, gasses, and fine solid particles, including aerosol, which are evenly distributed for functioning as a cooling agent in the heat pumps. They are non-toxic, cost-effective, and non-flammable in nature. Aerosol refrigerants are extensively utilized in commercial and residential sectors. Presently, they are commercially available in steel and aluminium (Al) material types. Aerosol refrigerants find extensive applications in air conditioning systems and chillers for maintaining optimum temperature.

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What are the growth prospects and trends in the aerosol refrigerants industry?

The inflating need for several consumer appliances, including chillers, refrigerators, and heating, ventilation, and air conditioning (HVAC) products, across numerous industries to reduce power consumption is primarily driving the aerosol refrigerants market. Additionally, the launch of favorable policies by government bodies to promote the manufacturing of eco-friendly product variants for eliminating the utilization of hydrofluorocarbons (HFC) and hydrofluoroolefins (HFOs) is further catalyzing the market growth.

Besides this, strategic collaborations among key market players to develop steel aerosol refrigerants that exhibit recyclable and sustainable properties while reducing production costs are acting as significant growth-inducing factors. Moreover, extensive investments in R&D activities and the widespread adoption of aerosol refrigerants in the residential sector, owing to the growing number of construction activities and improving living standards of individuals, are positively influencing the global market.

Apart from this, the increasing levels of commercialization are also stimulating the market growth. Furthermore, continuous technological advancements, including the introduction of carbon dioxide cascade and cold chain solutions that are infused with propane-based cooling systems, are anticipated to fuel the aerosol refrigerants market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

  •  HFC-143a
  • HFC-32
  • HFC-125
  • SF6
  • Others

Breakup by Container Type:

  • Steel
  • Aluminum

Market Breakup by End Use Sector:

  • Residential
  • Commercial
  • Industrial

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

A-Gas, Arkema S.A., Baltic Refrigeration Group, Daikin Industries Ltd., Dongyue Group, Fastenal Company, Groupe Gazechim, Honeywell International Inc., Navin Fluorine International Limited, Sinochem Corporation, SRF Limited (Kama Holdings Ltd.), Technical Chemical Company and The Chemours Company.

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