IMARC Group, a leading market research company, has recently releases report titled “Aerosol Refrigerants Market Report by Product (HFC-143a, HFC-32, HFC-125, SF6, and Others), Container Type (Steel, Aluminum), End Use Sector (Residential, Commercial, Industrial), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the global aerosol refrigerants market.
How Big Is the Aerosol Refrigerants Market?
The global aerosol refrigerants market size reached US$ 1.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.6 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
Industry Overview of Aerosol Refrigerants
Aerosol refrigerants refer to refrigerants that are pressurized and dispensed in aerosol form. They comprise hydrofluorocarbon-based aerosol refrigerants, which are widely used due to their low ozone depletion potential. They also include hydrocarbon-based aerosol refrigerants, such as propane and isobutane, which are popular as environment-friendly alternatives. They are packaged with propellants in aerosol cans, unlike traditional refrigerants, which are often in a gas or liquid state. They allow for precise and controlled application, making them valuable for tasks like refrigerant recharging, leak detection, and system maintenance. They can lead to lower energy consumption in refrigeration and air conditioning systems, contributing to overall energy savings. They are portable and easy to transport, making them suitable for mobile or remote applications. They are designed to minimize environmental impact and can adapt to different temperature and pressure conditions, making them versatile across a wide range of applications. Aerosol refrigerants are convenient to use, especially for small-scale applications or in situations where traditional refrigeration systems may be impractical. They can provide rapid cooling due to their ability to evaporate quickly, making them useful for applications that require fast temperature reduction. Aerosol refrigerants often come in sealed containers, reducing the risk of leaks and minimizing waste. They are easily accessible in many hardware stores, supermarkets, and e-commerce platforms.
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What are the growth prospects and trends in the aerosol refrigerants industry?
At present, the increasing environmental concerns and the need to mitigate the impact of greenhouse gas emissions are leading to a shift away from traditional refrigerants with high global warming potential (GWP) and facilitating the adoption of aerosol refrigerants, which offer lower GWP compared to conventional alternatives. The phasedown of hydrofluorocarbons (HFCs) under international agreements, which aim to reduce the production and consumption of HFCs, is propelling the growth of the market. Besides this, the rising research operations focused on developing formulations that not only provide efficient cooling but also adhere to environmental standards are contributing to the market growth.
In addition, the growing advancements in manufacturing processes, such as the use of advanced microencapsulation techniques, which contribute to the improved performance and stability of aerosol refrigerants, are offering a favorable market outlook. These innovations address concerns related to the potential release of volatile organic compounds (VOCs) and ensure that aerosol refrigerants meet stringent safety and environmental standards. Apart from this, the increasing demand for products with lower carbon footprints is driving manufacturers to explore and adopt alternative refrigerants, including those delivered in aerosol form.
This shift in individual preferences is compelling industry players to invest in research and development (RD) to meet the evolving demands for sustainable and environment-friendly solutions. Additionally, the rising installation of air conditioning systems in hospitals, nursing homes, and clinics to maintain a pleasant environment and provide comfort to patients and staff working on the premises is supporting the market growth. Moreover, the increasing utilization of aerosol refrigerants in air conditioning systems to cool the interior of vehicles is bolstering the market growth.
Leading Companies Operating in the Global Aerosol Refrigerants Industry:
- 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
- The Chemours Company
Aerosol Refrigerants Market Report 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
Breakup by End Use Sector:
- Residential
- Commercial
- Industrial
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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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