Secondary Refrigerants Market: Summary
The Global Secondary Refrigerants Market is projected to reach a value of over USD 903.8 million by 2027 at a CAGR of around 5.8%.
Secondary refrigerants are usually liquids and are used to transfer heat from the substance being cooled to a heat exchanger where the heat is absorbed by a primary refrigerant. They are non-toxic and incombustible and are safer to use and help lower environmentally-harmful primary refrigerants. Secondary refrigerants offer various benefits over the primary refrigerant. For instance, do not undergo any phase change, they help minimize pressure losses in the vapor compression cycle, thereby increasing efficiency. Air conditioning and other high-temperature applications use chilled water while low-temperature applications use glycols, brines and oils as secondary refrigerants.
Secondary Refrigerants Market: Drivers & Restraints
- Phasing Out of CFCs, HCFCs, and HFCs Refrigerants
Fluorinated gases know as F-gases are a range of synthetic refrigerants that trap heat in the atmosphere and contribute to global warming. The most common F-gases are hydrofluorocarbons (HFCs), ChloroFluoroCarbons (CFCs), and HydroChloroFluoroCarbons (HCFCs) which are typically used in refrigeration and air-conditioning applications. To reduce greenhouse gas emission and mitigate climate change, the F- gas regulation entered into the force to reduce the use of F-gases and impose a service ban on use with high Global Warming Potentials (GWP >2,500) like R-404A, R-507 and R-422D. thus, the phasing out of CFCs, HCFCs, and HFCs refrigerants has increased the demand for secondary refrigerants.
- Increasing Demand for Natural Refrigerants
Natural refrigerants are synthesized through biochemical processing natural resources. Growing concern regarding global warming and other environmental issues has increased the use of natural refrigerants. Natural refrigerants such as ammonia, carbon dioxide, and hydrocarbons are processed from natural resources and are more eco-friendly as compared to conventional refrigerants. Natural refrigerants available in the market include ammonia, carbon dioxide, and hydrocarbons. Among hydrocarbons, the commonly used refrigerants include iso-butane, propane, and propylene. Natural refrigerants are chieflyemployed in industrial, commercial, and domestic refrigeration systems. Apart from these, natural refrigerants are consumed in mobile air conditioning and stationary air conditioning. Thus, the increasing demand for natural refrigerant has expected to create a market opportunity for key players.
Secondary Refrigerants Market: Key Segments
- Segmentation based on type: Glycol, Salt Brine, Carbon Dioxide, and Others.
- Segmentation based on application: Oil & Gas, Food & Beverages, Pharmaceuticals, Chemical, Plastics, and Others.
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Secondary Refrigerants Market: Report Scope
The report on the Secondary refrigerants market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Type, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Linde Plc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Eastman Chemical Company
- Tazzetti S.P.A
- Arteco Coolants
- Temper Technology Ab
- Srs Frigadon
- Dynalene Inc.
- Environmental Process Systems Limited
- Gas Servei Sa
- Climalife Groupe Dehon
- Nisso Shoji Co. Ltd.
- Other Key Companies
Secondary Refrigerants Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Secondary refrigerants Market, by Type
- Propylene Glycol
- Ethylene Glycol
- Salt Brines
- Calcium Chloride
- Potassium Formate
- Potassium Acetate
- Carbon Dioxide
Secondary refrigerants Market, by Application
- Oil & Gas
- Food & Beverages
Secondary refrigerants Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Secondary refrigerants Market Providers
- Secondary refrigerants Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Secondary refrigerants Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SECONDARY REFRIGERANTS MARKET STUDY