On 2024-10-28 Global Info Research released【Global Low Global Warming Potential (GWP) Refrigerants Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030】. This report includes an overview of the development of the Low Global Warming Potential (GWP) Refrigerants industry chain, the market status of Consumer Electronics (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), Household Appliances (Nickel-Zinc Ferrite Core, Mn-Zn Ferrite Core), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Low Global Warming Potential (GWP) Refrigerants.
The market for Low Global Warming Potential (GWP) refrigerants is undergoing a significant transformation driven by stringent regulatory frameworks, environmental concerns, and technological advancements. As global awareness of climate change intensifies, regulations such as the Kigali Amendment to the Montreal Protocol and the European Union’s F-Gas Regulation are mandating reductions in the use of high-GWP refrigerants like HFCs, propelling the shift towards alternatives with lower GWP. This regulatory pressure is fostering a rapid adoption of low-GWP refrigerants across various sectors including commercial, industrial, and residential refrigeration.
Among the prominent low-GWP alternatives are hydrofluoroolefins (HFOs), which, such as HFO-1234yf, offer significantly reduced GWP compared to traditional HFCs, and are increasingly used in automotive air conditioning and other applications. HFC replacements like R32 (Difluoromethane) and R-152a are also gaining prominence. R32, with a GWP of around 675, is a direct and efficient replacement for higher-GWP refrigerants like R410A in air conditioning systems, while R-152a, with a GWP of 138, is used in specific applications where lower environmental impact is crucial, despite its flammability. Additionally, natural refrigerants like carbon dioxide (CO2), ammonia (R-717), and hydrocarbons (e.g., propane R-290) are gaining traction due to their negligible or zero GWP and high efficiency, making them suitable for diverse applications from commercial refrigeration to industrial processes. Technological advancements are also playing a crucial role in facilitating this transition, with innovations improving the efficiency, safety, and applicability of low-GWP refrigerants. For example, new system designs and refrigerant blends are enhancing the performance of low-GWP options and addressing challenges such as high pressures or flammability. The market is experiencing robust growth, driven by both regulatory compliance and the pursuit of sustainability. This growth is further supported by increasing investment in research and development, aimed at optimizing the performance and expanding the applications of low-GWP refrigerants. As industries and governments align with more ambitious climate goals, the trend towards low-GWP refrigerants is expected to continue accelerating, reshaping the refrigeration and air conditioning landscape with a focus on reducing environmental impact and enhancing energy efficiency.
The global Low Global Warming Potential (GWP) Refrigerants market size is expected to reach $ 3646 million by 2030, rising at a market growth of 5.6% CAGR during the forecast period (2024-2030).
The global low global warming potential (GWP) refrigerants market is witnessing significant growth as governments, industries, and consumers increasingly prioritize the reduction of greenhouse gas emissions and environmental impact. Low GWP refrigerants are alternatives to high GWP refrigerants such as hydrofluorocarbons (HFCs) that have a lower impact on global warming and ozone depletion. Key factors driving the market growth include: Regulatory measures and environmental concerns: The phasing out of high GWP refrigerants, mandated by international agreements such as the Kigali Amendment to the Montreal Protocol, is a major driver for the adoption of low GWP refrigerants. Governments around the world are implementing regulations and policies to encourage the use of environmentally friendly refrigerants, thereby promoting the market growth. Energy efficiency requirements: Low GWP refrigerants often go hand-in-hand with systems that are more energy-efficient. As energy efficiency targets become more stringent, the demand for eco-friendly refrigerants that can contribute to reduced energy consumption is increasing. Low GWP refrigerants, such as hydrofluoroolefins (HFOs) and natural refrigerants like hydrocarbons (HCs), offer improved energy efficiency compared to conventional HFC refrigerants. Technological advancements and product innovations: Manufacturers are investing in research and development activities to develop new low GWP refrigerants that meet the regulatory requirements and offer improved performance. This includes the development of new HFO blends and natural refrigerants that have lower GWP and exhibit desirable thermodynamic properties. Technological advancements also contribute to the development of more efficient and environmentally friendly refrigeration systems. Growing adoption in various industries: Low GWP refrigerants find applications in a wide range of sectors, including air conditioning, refrigeration, heat pumps, and automotive air conditioning. The increasing implementation of eco-friendly refrigerants in these industries, driven by environmental concerns and regulations, is boosting the market growth. Consumer awareness and demand for sustainable products: Increased environmental awareness among consumers is influencing their purchasing decisions. Consumers are becoming more conscious of the environmental impact of their choices, including the refrigerants used in products they purchase. This has led to a growing demand for appliances and systems that use low GWP refrigerants, driving market growth. However, challenges such as the high cost of low GWP refrigerants compared to conventional alternatives, the need for system retrofits or replacements, and the availability of infrastructure for handling and storing low GWP refrigerants may hinder market growth to some extent.
This report studies the global Low Global Warming Potential (GWP) Refrigerants production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Low Global Warming Potential (GWP) Refrigerants and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2023 as the base year. This report explores demand trends and competition, as well as details the characteristics of Low Global Warming Potential (GWP) Refrigerants that contribute to its increasing demand across many markets.
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Market segment by Type： HFC Replacements、Natural Refrigerants、HFO Refrigerants
Market segment by Application：Household Air Conditioning and Refrigeration、Commercial and Industrial Refrigeration、Commercial and Industrial Air Conditioning、Transport Air Conditioning
Major players covered： Honeywell、Chemours、Zhejiang Juhua、Arkema、Zhejiang Yonghe、Linde Group、Daikin、Puyang Zhongwei Fine Chemical Co、Dongyue Group、Zhejiang Sanmei Chemical、Zibo Feiyuan Chemical、Shandong Yue’an New Material Co、Shandong Hua'an、Aeropres Corporation、Messer Group、Tazzetti、Zhejiang Huanxin Fluoromaterial Co、Evonik
Market segment by region, regional analysis covers: North America (United States, Canada and Mexico), Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe), Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia),South America (Brazil, Argentina, Colombia, and Rest of South America),Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa).
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Low Global Warming Potential (GWP) Refrigerants product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Low Global Warming Potential (GWP) Refrigerants, with price, sales, revenue and global market share of Low Global Warming Potential (GWP) Refrigerants from 2019 to 2024.
Chapter 3, the Low Global Warming Potential (GWP) Refrigerants competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Low Global Warming Potential (GWP) Refrigerants breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Low Global Warming Potential (GWP) Refrigerants market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Low Global Warming Potential (GWP) Refrigerants.
Chapter 14 and 15, to describe Low Global Warming Potential (GWP) Refrigerants sales channel, distributors, customers, research findings and conclusion.
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