Next Generation Refrigerants Market By Size, Share, Trends, and Forecast 2028

Report Description

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%.

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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.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, Volume in metric tons, and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, Volume Forecast, company share, competitive landscape, growth factors, and trends
Segments covered	· By Type · By Application · By End-Use
Regional scope	Europe, North America, Asia Pacific, Middle East & Africa
Country scope	Germany; France; United Kingdom; Russia; Sweden; Denmark; Switzerland; United States; Canada; Mexico; China; India; Japan; Australia; South Korea; South Africa; UAE, Saudi Arabia.
Key companies profiled	DuPont, Asahi Kasei Corporation, JRS Pharma, Roquette Frères, Mingtai Chemical Co. Ltd., Chemfield Cellulose, Accent Microcell Pvt. Ltd., JRS Pharma, Pharmatrans-Sanaq AG and DFE Pharma
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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

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).

Global Next Generation Refrigerants Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

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. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Market Trends & Developments

11.1. Mergers & Acquisitions

11.2. Product Developments

11.3. Technological Advancements

12. Global Microcrystallline Market: SWOT Analysis

13. Porter’s Five Forces Analysis

13.1. Competition in the Industry

13.2. Potential of New Entrants

13.3. Power of Suppliers

13.4. Power of Customers

13.5. Threat of Substitute Products

14. Competitive Landscape

14.1. Business Overview

14.2. Company Snapshot

14.3. Products & Services

14.4. Financials (In case of listed companies)

14.5. Recent Developments

14.6. SWOT Analysis

14.6.1. Honeywell International Inc

14.6.2. Zhejiang Juhua Co Ltd

14.6.3. Arkema Daikin Advanced Fluorochemicals Co. Ltd.

14.6.4. The Chemours Company Fc LLC

14.6.5. SRF Limited

14.6.6. Tazzetti S.p.A

14.6.7. ASPEN Refrigerants Inc

14.6.8. The Linde Group

14.6.9. Harp International Ltd.

15. Strategic Recommendations

Report Description

Table of content

Figures and Tables

Frequently asked questions

What are the major drivers for the Next Generation Refrigerants Market?

Who are the top players operating in the Next Generation Refrigerants Market?

Which End-Use is expected to dominate the Next Generation Refrigerants Market in the forecast period?

Which region is expected to account for the largest Next Generation Refrigerants Market share?

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Report Description

Table of content

Figures and Tables

Frequently asked questions

What are the major drivers for the Next Generation Refrigerants Market?

Who are the top players operating in the Next Generation Refrigerants Market?

Which End-Use is expected to dominate the Next Generation Refrigerants Market in the forecast period?

Which region is expected to account for the largest Next Generation Refrigerants Market share?

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