Global Secondary Refrigerants Market
Advertiser: Snehal Lokhande Location: India Posted: Apr 18, 2019 6:39:28 AM
Global Secondary Refrigerants Market was valued at US$ 974 Mn in 2017 and is expected to reach US$ 824.93 Mn by 2026, at a CAGR of 7.4 % during a forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding secondary refrigerants market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in secondary refrigerants market.
Secondary Refrigerants are usually fluids that transfer the heat from the substance that is being cooled in a heat exchanger where the heat is being absorbed by a primary refrigerant. These are mostly used in air conditioning systems where they don’t undergo any phase change as they transport energy from one point to another. Secondary refrigerants are also called as heat transfer liquids. These have to be environment-friendly and typically chilled water is used as a secondary refrigerant in air conditioners system. Rise in Demand for natural refrigerants has somehow increased the market for secondary refrigerants.
Secondary refrigerants also manage intermittent surging of thermal loads by providing the holdover result. Refrigeration plants using secondary refrigerants want less supervision during the system on/off, since the result of sudden load is minimum on the refrigerant. The main disadvantage of secondary refrigerant using system is that refrigerant is reasonably heated, as a result, the liquid temperature rises across the system and additionally the mass flow rate of the secondary refrigerant is larger, because the heat capacity of secondary refrigerants is smaller. Ideally, secondary refrigerants should be low in cost, non-corrosive, chemically stable, and able to transfer heat.
Low environmental impact and rising demand for reduction in primary refrigerants charge are the major driving factors of the secondary refrigerants market. Whereas high investment cost is the restraining factor for the market.
Based on type, the glycols type segment is valued to lead the secondary refrigerants market in 2017 in terms of value. Due to ability such as provide freeze protection for closed loop refrigeration systems, ventilation, air conditioning (HVAC), and cooling systems, the glycols leads the highest market in the forecast period. Glycols based refrigerants are water solution of propylene or ethylene glycol. Calcium chloride brines are also usually used secondary refrigerants in marine and industrial refrigeration systems.
In terms of application, the industrial refrigeration segment held the noteworthy share of the market in 2017, followed by the commercial application segment. Need to decrease carbon emission and upsurge in adoption of environment-friendly refrigerants in industrialized countries are estimated to lift the demand for secondary refrigerants for industrial applications.
Geographically, Europe is the largest consumer of secondary refrigerants and anticipated to witness the substantial growth in the secondary refrigerants market in the forecast period. Due to environmental legislation and government support initiatives, the market for secondary refrigerants are growing with rapid pace. Asia Pacific is expected to display major growth due to the development of renewable energy sector and rising demand for low GWP and ODP refrigerants as per the government initiatives. North America is likely to show a moderate growth in the end-user industry.
The Scope of Global Secondary Refrigerants Market:
Global Secondary Refrigerants Market, by Type:
• Salt Brines
• Carbon Dioxide
Global Secondary Refrigerants Market, by Application:
• Commercial Refrigeration
• Industrial Refrigeration
• Heat Pumps
• Air Conditioning
Global Secondary Refrigerants Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Secondary Refrigerants Market:
• The Linde Group
• A-Gas International
• TAZZETTI S.P.A
• The Dow Chemical Company
• Eastman Chemical Company
• Clariant AG
• Arteco Coolants
• Temper Technology AB
• SRS Frigadon
• Environmental Process Systems
• Gas Servei SA
• Climalife Groupe Dehon
• Nisso Shoji Co. Ltd
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