Inorganic Refrigerants Market Driven By Non-Toxic, Environment Friendly, Inexpensive, and Non-Flammable Advantages – New Report by MicroMarket Monitor
Inorganic Refrigerants market can be segmented by Geographies, Companies, Applications, Ingredients and Types. http://www.micromarketmonitor.com/market-report/inorganic-refrigerants-reports-4544023273.html
(PRWEB) July 10, 2014
The consumption of inorganic refrigerants (Ammonia, CO2) in 2012 was 109.0 thousand MT in, and is estimated to grow at a CAGR of 7.5%, from 2013 to 2018.
Generally, inorganic refrigerants like ammonia and carbon dioxide are characterized by global warming potential (GWP) values which range from 0 to several thousands. The bigger the GWP value, the more harmful the refrigerant is for environment. Ammonia and carbon dioxide are commercially used in refrigerants, but their share in the global refrigerant market is around 8%-10%.
Browse through the market data tables, figures and detailed ToC on the “Inorganic Refrigerants Market.”
Americas Inorganic Refrigerants Market
Americas has always been a strong market for refrigerants. Americas include North America and South America. The U.S. is the most dominant country in the Americas market. The inorganic refrigerant market in this region is expected to grow at a CAGR of 6%, for the period of next five years. DuPont, Honeywell International Inc., National Refrigerants, Mexico-based Mexichem Fluor, and Quimobasicos S.A de C.V. are some of the leading players in this region.
The U.S. is a highly regulated market, with strict regulations regarding plastic production, use, and disposal. These regulations are controlled by the EPA (Environmental Protection Agency).
Asia-Pacific Inorganic Refrigerants Market
Inorganic refrigerants consist of inorganic compounds (which does not contain carbon-hydrogen bond) and are used primarily as refrigerants, such as R718, 717, and 744. Recently, the demand for R744 has decreased considerably, due to its lower thermal efficiency.
Ammonia refrigeration is gaining popularity in the Asian market, mainly due to lower CO2 emissions. It is being used as a refrigerant in various countries such as Japan and Australia. Asada Corporation, Beijing Refrigeration Equipment Co. Ltd, and Changzhou AMG Refrigeration Equipment (Valve) Co. Ltd are exhibiting ammonia refrigeration products. The inorganic refrigerants segment has the highest consumption in the Asia-Pacific region, and is expected to grow at a CAGR of over 10% by 2018.
Middle East and South Africa Inorganic Refrigerants Market
The Middle East and South Africa are the most important regions in the refrigerant market, showing a significant growth. The rising global temperatures and high demand for cooling products contribute to the high growth of the market. The inorganic refrigerants market in this region was $10.2 million in 2012, and is estimated to grow at a CAGR of 13.5%.
European Inorganic Refrigerants Market
Adverse market forces, such as high fluctuation in raw material prices, rising manufacturing costs, and tight competition from the producers in Asia-Pacific can affect the competitiveness of the European producers. Furthermore, the currency fluctuations between the Euro and Dollar can lead to currency translation distortions in international sales turnover of the European manufacturers. However, due to the global market slowdown, there is no significant rise in consumption in these regions.
In the near future, the industrial sector (mainly for large refrigeration systems) would be focusing on improved energy efficiency, long life, and integration of the cooling system with other heat transferring processes. This is the key driver for the growth of ammonia refrigerant in a number of applications, including cold storage facilities. Arkema SA, Harp International Ltd, Linde AG, and Solvay S.A. are the leading players of this region.
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