Next Generation Refrigerants Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Natural Refrigerants, Hydrofluoro Olefins & Others), By Application (Air Conditioning, Refrigeration, Heat Pump & Others), By End-Use (Residential, Industrial, Commercial & Transportation), By Region and Competition

December 2022 | 116 pages | ID: N2A8A5FC06DFEN
TechSci Research

Abstracts

Global Next Generation Refrigerants Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the increased concerns about global warming around the world. In 2020, the earth's surface temperature was around 0.98 Celsius degrees warmer than the 20th-century average.

Hydrofluorocarbon (HFC) gases are used in residential, commercial, and industrial air conditioning and refrigeration systems, significantly contributing to environmental damage. Hydrofluorocarbons only account for 1% of total greenhouse gases; however, HFCs have hundreds to thousands of times more significant global warming impact per mass than CO2. The demand for Next Generation Refrigerants is increasing exponentially due to the rising demand from various end-user industries and the stringent regulations laid down by the government, due to which companies are forced to develop products that have minimal environmental impact.

Next-generation refrigerants with little to no global warming potential (GWP) and ozone depletion potential include ammonia and tetrafluoro propene. Due to the growing demand for environmentally friendly production processes, the need for next-generation refrigerants is growing rapidly. The two next-generation refrigerants with zero ozone depletion potential (ODP) and global warming potential are natural refrigerants and hydrofluoroolefins and Others. These factors are expected to boost market expansion.

Growing Uses of Next Generation Refrigerants in a Variety of End-Use Industries

The use of Next Generation Refrigerants in a wide range of end-user industries, for instance, food & beverage, pharmaceuticals, personal care, and industrial, is expected to increase the growth of the overall market at a substantial rate. Moreover, HFCs are frequently used as refrigerants because they are more effective at cooling and heating than other refrigerants. HFCs don't include chlorine; hence, they impact the ozone layer less. In addition, HFCs produce polymer foams as blowing agents, fire retardants, solvents in cleaning products, and plasma etching to manufacture semiconductors. All these factors are propelling the growth rate of the market.

Mergers & Acquisitions

• In 2021, Honeywell and Trane Technologies launched the eco-friendly next-generation refrigerant N41, an alternative to the highly flammable and toxic R-410A. N41 has the same efficiency level as R-410A, while it also reduces the global warming impact by 65 percent. N41 has widespread applications like commercial air conditioning in variable refrigerant flow, rooftops, and residential air conditioning in unitary ducted equipment.

Recent Developments

• A new technology called life-cycle climate performance (LCCP), developed by the University of Maryland College Park (UMCP) in collaboration with the Air Conditioning, Heating, and Refrigeration Technology Institute (AHRTI) can estimate the effectiveness and performance of a typical commercial refrigeration system with alternative refrigerants and minor system modifications to provide lower-GWP refrigerant solutions with improved LCCP in comparison to baseline systems.

New Product Launches

• Daikin introduced the first R-32 refrigerant-powered residential air conditioner. R-32 transfers heat at a much higher rate and can reduce energy consumption by up to 10% compared to R-22 and R-410A. Moreover, R-32 reduces global warming and the carbon footprint and has a significantly lower environmental impact. They have only 1/3 of the global warming potential (GWP) of R-410A and an ozone depletion of 0.
• Koura recently developed two refrigerants, Koura Klea 473A and Koura Klea 456A. Koura Klea 473A can reduce at an overwhelming rate of +85% global warming potential (GWP) and perform efficiently even in adverse conditions like low temperatures. In contrast, Koura Klea 456A is economical and a substitute for 134a, which can reduce global warming potential (GWP) by up to 50%.

Market Segmentation

Global Next Generation Refrigerants Market is segmented based on Type, Application and End-Use. Based on Type, the market is divided into Natural Refrigerants and Hydrofluoro Olefins. Based on Application, the market is fragmented into Air Conditioning, Refrigeration, Heat Pump & Others. Based on End-Use the market is divided into Residential, Industrial, Commercial & Transportation.

Market players

Honeywell International, Zhejiang Juhua, Arkema, Daikin, Chemours, SRF Limited, Tazzetti S.p.A, ASPEN Refrigerants, The Chemours Company, and The Linde Group are some of the key players operating in the market.

Report Scope:

In this report, Global Next Generation Refrigerants Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Next Generation Refrigerants Market, By Type:
• Natural Refrigerants
• Hydrofluoro Olefins
• Others
• Next Generation Refrigerants Market, By Application:
• Air Conditioning
• Refrigeration
• Heat Pump
• Others
• Next Generation Refrigerants Market, By End-Use:
• Residential
• Industrial
• Commercial
• Transportation
• Next Generation Refrigerants Market, By Region:
• Europe
• France
• Germany
• United Kingdom
• Russia
• Sweden
• Denmark
• Switzerland
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Middle East and Africa
• Saudi Arabia
• UAE
• Qatar
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Next Generation Refrigerants Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Contents

1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. VOICE OF CUSTOMER

5. GLOBAL NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value & Volume
5.2. Market Share & Forecast
  5.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  5.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  5.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  5.2.4. By Region (Europe, Asia Pacific, North America, Middle East & Africa)
  5.2.5. By Company (2022)
5.3. Market Map
  5.3.1. By Type
  5.3.2. By Application
  5.3.3. By End-Use
  5.3.4. By Region
5.4. Pricing Analysis

6. EUROPE NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value & Volume
6.2. Market Share & Forecast
  6.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  6.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  6.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  6.2.4. By Country
6.3. Pricing Analysis
6.4. Europe: Country Analysis
  6.4.1. France Next Generation Refrigerants Market Outlook
    6.4.1.1. Market Size & Forecast
      6.4.1.1.1. By Value & Volume
    6.4.1.2. Market Share & Forecast
      6.4.1.2.1. By Type
      6.4.1.2.2. By Application
      6.4.1.2.3. By End-Use
  6.4.2. Germany Next Generation Refrigerants Market Outlook
    6.4.2.1. Market Size & Forecast
      6.4.2.1.1. By Value & Volume
    6.4.2.2. Market Share & Forecast
      6.4.2.2.1. By Type
      6.4.2.2.2. By Application
      6.4.2.2.3. By End-Use
  6.4.3. United Kingdom Next Generation Refrigerants Market Outlook
    6.4.3.1. Market Size & Forecast
      6.4.3.1.1. By Value & Volume
    6.4.3.2. Market Share & Forecast
      6.4.3.2.1. By Type
      6.4.3.2.2. By Application
      6.4.3.2.3. By End-Use
  6.4.4. Russia Next Generation Refrigerants Market Outlook
    6.4.4.1. Market Size & Forecast
      6.4.4.1.1. By Value & Volume
    6.4.4.2. Market Share & Forecast
      6.4.4.2.1. By Type
      6.4.4.2.2. By Application
      6.4.4.2.3. By End-Use
  6.4.5. Sweden Next Generation Refrigerants Market Outlook
    6.4.5.1. Market Size & Forecast
      6.4.5.1.1. By Value & Volume
    6.4.5.2. Market Share & Forecast
      6.4.5.2.1. By Type
      6.4.5.2.2. By Application
      6.4.5.2.3. By End-Use
  6.4.6. Denmark Next Generation Refrigerants Market Outlook
    6.4.6.1. Market Size & Forecast
      6.4.6.1.1. By Value & Volume
    6.4.6.2. Market Share & Forecast
      6.4.6.2.1. By Type
      6.4.6.2.2. By Application
      6.4.6.2.3. By End-Use
  6.4.7. Switzerland Next Generation Refrigerants Market Outlook
    6.4.7.1. Market Size & Forecast
      6.4.7.1.1. By Value & Volume
    6.4.7.2. Market Share & Forecast
      6.4.7.2.1. By Type
      6.4.7.2.2. By Application
      6.4.7.2.3. By End-Use

7. NORTH AMERICA NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value & Volume
7.2. Market Share & Forecast
  7.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  7.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  7.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  7.2.4. By Country
7.3. Pricing Analysis
7.4. North America: Country Analysis
  7.4.1. United States Next Generation Refrigerants Market Outlook
    7.4.1.1. Market Size & Forecast
      7.4.1.1.1. By Value & Volume
    7.4.1.2. Market Share & Forecast
      7.4.1.2.1. By Type
      7.4.1.2.2. By Application
      7.4.1.2.3. By End-Use
  7.4.2. Canada Next Generation Refrigerants Market Outlook
    7.4.2.1. Market Size & Forecast
      7.4.2.1.1. By Value & Volume
    7.4.2.2. Market Share & Forecast
      7.4.2.2.1. By Type
      7.4.2.2.2. By Application
      7.4.2.2.3. By End-Use
  7.4.3. Mexico Next Generation Refrigerants Market Outlook
    7.4.3.1. Market Size & Forecast
      7.4.3.1.1. By Value & Volume
    7.4.3.2. Market Share & Forecast
      7.4.3.2.1. By Type
      7.4.3.2.2. By Application
      7.4.3.2.3. By End-Use

8. ASIA-PACIFIC NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value & Volume
8.2. Market Share & Forecast
  8.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  8.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  8.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  8.2.4. By Country
8.3. Pricing Analysis
8.4. Asia-Pacific: Country Analysis
  8.4.1. China Next Generation Refrigerants Market Outlook
    8.4.1.1. Market Size & Forecast
      8.4.1.1.1. By Value & Volume
    8.4.1.2. Market Share & Forecast
      8.4.1.2.1. By Type
      8.4.1.2.2. By Application
      8.4.1.2.3. By End-Use
  8.4.2. India Next Generation Refrigerants Market Outlook
    8.4.2.1. Market Size & Forecast
      8.4.2.1.1. By Value & Volume
    8.4.2.2. Market Share & Forecast
      8.4.2.2.1. By Type
      8.4.2.2.2. By Application
      8.4.2.2.3. By End-Use
  8.4.3. Japan Next Generation Refrigerants Market Outlook
    8.4.3.1. Market Size & Forecast
      8.4.3.1.1. By Value & Volume
    8.4.3.2. Market Share & Forecast
      8.4.3.2.1. By Type
      8.4.3.2.2. By Application
      8.4.3.2.3. By End-Use
  8.4.4. South Korea Next Generation Refrigerants Market Outlook
    8.4.4.1. Market Size & Forecast
      8.4.4.1.1. By Value & Volume
    8.4.4.2. Market Share & Forecast
      8.4.4.2.1. By Type
      8.4.4.2.2. By Application
      8.4.4.2.3. By End-Use
  8.4.5. Australia Next Generation Refrigerants Market Outlook
    8.4.5.1. Market Size & Forecast
      8.4.5.1.1. By Value & Volume
    8.4.5.2. Market Share & Forecast
      8.4.5.2.1. By Type
      8.4.5.2.2. By Application
      8.4.5.2.3. By End-Use

9. MIDDLE EAST AND AFRICA NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value & Volume
9.2. Market Share & Forecast
  9.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  9.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  9.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  9.2.4. By Country
9.3. Pricing Analysis
9.4. MEA: Country Analysis
  9.4.1. Saudi Arabia Next Generation Refrigerants Market Outlook
    9.4.1.1. Market Size & Forecast
      9.4.1.1.1. By Value & Volume
    9.4.1.2. Market Share & Forecast
      9.4.1.2.1. By Type
      9.4.1.2.2. By Application
      9.4.1.2.3. By End-Use
  9.4.2. UAE Next Generation Refrigerants Market Outlook
    9.4.2.1. Market Size & Forecast
      9.4.2.1.1. By Value & Volume
    9.4.2.2. Market Share & Forecast
      9.4.2.2.1. By Type
      9.4.2.2.2. By Application
      9.4.2.2.3. By End-Use
  9.4.3. Qatar Next Generation Refrigerants Market Outlook
    9.4.3.1. Market Size & Forecast
      9.4.3.1.1. By Value & Volume
    9.4.3.2. Market Share & Forecast
      9.4.3.2.1. By Type
      9.4.3.2.2. By Application
      9.4.3.2.3. By End-Use

10. SOUTH AMERICA NEXT GENERATION REFRIGERANTS MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value & Volume
10.2. Market Share & Forecast
  10.2.1. By Type (Natural Refrigerants, Hydrofluoro Olefins & Others)
  10.2.2. By Application (Air Conditioning, Refrigeration, Heat Pump & Others)
  10.2.3. By End-Use (Residential, Industrial, Commercial & Transportation)
  10.2.4. By Country
10.3. Pricing Analysis
10.4. South America: Country Analysis
  10.4.1. Brazil Next Generation Refrigerants Market Outlook
    10.4.1.1. Market Size & Forecast
      10.4.1.1.1. By Value & Volume
    10.4.1.2. Market Share & Forecast
      10.4.1.2.1. By Type
      10.4.1.2.2. By Application
      10.4.1.2.3. By End-Use
  10.4.2. Argentina Next Generation Refrigerants Market Outlook
    10.4.2.1. Market Size & Forecast
      10.4.2.1.1. By Value & Volume
    10.4.2.2. Market Share & Forecast
      10.4.2.2.1. By Type
      10.4.2.2.2. By Application
      10.4.2.2.3. By End-Use
  10.4.3. Colombia Next Generation Refrigerants Market Outlook
    10.4.3.1. Market Size & Forecast
      10.4.3.1.1. By Value & Volume
    10.4.3.2. Market Share & Forecast
      10.4.3.2.1. By Type
      10.4.3.2.2. By Application
      10.4.3.2.3. By End-Use

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Mergers & Acquisitions
12.2. Product Developments
12.3. Technological Advancements

13. GLOBAL MICROCRYSTALLLINE MARKET: SWOT ANALYSIS

14. PORTER’S FIVE FORCES ANALYSIS

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. COMPETITIVE LANDSCAPE

15.1. Business Overview
15.2. Company Snapshot
15.3. Products & Services
15.4. Financials (In case of listed companies)
15.5. Recent Developments
15.6. SWOT Analysis
  15.6.1. Honeywell International Inc
  15.6.2. Zhejiang Juhua Co Ltd
  15.6.3. Arkema Daikin Advanced Fluorochemicals Co. Ltd.
  15.6.4. The Chemours Company Fc LLC
  15.6.5. SRF Limited
  15.6.6. Tazzetti S.p.A
  15.6.7. ASPEN Refrigerants Inc
  15.6.8. The Linde Group
  15.6.9. Harp International Ltd.

16. STRATEGIC RECOMMENDATIONS