The Global Automotive Refrigerant Market is expected to grow at a CAGR during the forecasting period ( 2022-2029).
Refrigerants are used to absorb and release the heat within in automobiles air conditioning system and is an essential part of the automotive air system.
The increasing production of automobiles is the prime driver of the automotive refrigerant market. The market is experiencing a shift towards eco-friendly products owing to increased environmental awareness.
Growing automotive demand, rising demand for climate control systems in electric vehicles, and increasing consumer demand for comfort within automobiles are key factors driving the need for the automotive refrigerant market.
However, stringent norms and regulation by the government might hamper the market growth in next few years. Increasing demand for natural refrigerants is expected to provide lucrative opportunities to the market shortly.
The global automotive refrigerant market is segmented as a natural refrigerant and synthetic refrigerant on the basis of type. The synthetic refrigerant is leading the market consisting of around 70% of the market share.
On the basis of the product, the market is segmented as R134a, R1234yf, and Others.
Others segment consider R-1234ze, R-744, R-410a, and R-22 refrigerant. R134a holds the dominant share of the market while R1234yf is the fastest growing product. Honeywell and Chemours hold the special production patents regarding the production of R1234yf which would keep the prices of the product high for the considerable amount of time.
Geographically the market is segmented as North America, Europe, Asia-Pacific, South America, and Rest of the world. Asia-Pacific is the largest producer and consumer of automotive refrigerant owing to rapid development in Asia-Pacific automotive segment.
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The report profiles the following companies, which includes Arkema Inc., Chemours Company, Dongyue Group Ltd., DURACOOL Refrigerants Inc., Honeywell International Inc., Linde AG, Mexichem, S.A.B. de C.V, National Refrigerants, Inc., Sinochem American Holdings, Inc., and Vision Global Technology.
By Sales Channel
Original Equipment Manufacturer
Rest of the World
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