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DUBLIN, July 13, 2022 /PRNewswire/ — The “Global Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane), Application (Refrigeration System, Air Conditioning System, Chillers, MAC) and Region (APAC, North America, EuropeMEA, South America) – Forecast to 2027″ report has been added to ResearchAndMarkets.com’s offering.
Refrigerants market is expected to reach at USD 8.4 billion in 2027 at a CAGR of 6.2% during the forecast period. The most used natural refrigerants are ammonia, carbon dioxide, and HCs such as propane and isobutene.
Technological advancements in cooling equipment are replacing traditional refrigerants such as HCFC and HFC with natural ones. This has increased the market share of natural refrigerants in applications such as air conditioning, refrigeration, and heating systems.
By type, carbon dioxide accounted for second-largest market share for refrigerants market, in terms of volume, in 2021
Carbon dioxide is gaining popularity as a refrigerant as it is inflammable and non-toxic. Because of these characteristics, it is now widely used as a refrigerant for commercial spaces such as supermarkets and retail stores. However, it has a remaining danger to human health . Since it is an odorless gas and heavier than air, it can cause a narcotic and asphyxiating effect at high concentrations in enclosed environments. Therefore, leak detectors should be present to avoid any potential risk.
Air conditioning system is expected to be the second-fastest growing application for refrigerants market during the forecast period, in terms of value
Air conditioners are used to cool single or multiple rooms in residential or commercial areas. This application segment is further …
Full story available on Benzinga.com
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