Industry


Global Refrigerants market to reach at USD 8.4 billion in 2027

Refrigerants market is expected to reach at USD 8.4 billion in 2027 at a CAGR of 6.2% during the forecast period. The most used natural refrigerants are ammonia, carbon dioxide, and HCs such as propane and isobutene. Technological advancements in cooling equipment are replacing traditional refrigerants such as HCFC and HFC with natural ones. This has increased the market share of natural refrigerants in applications such as air conditioning, refrigeration, and heating systems.

Is energy efficiency more important than low GWP?

We are all aware of the F-Gas legislation and the drive to low GWP refrigerants but this is only a small part of the overall solution to reduce climate changing emissions. Choosing a low GWP refrigerant does not guarantee a better energy efficiency and in some cases, it may even lead to an increase in the lifetime total emissions from the system if a lower efficiency option is selected. As well as refrigerant choice, there are other actions that can be taken to maintain or improve energy efficiency, reduce total emissions and in most cases they will even pay for themselves over the lifetime of the equipment.

The future of refrigerants

The F-gas regulation is continuously progressing with two new bans having come into effect from 1st January 2022 but most of the implications of the legislation are still hidden by the apparent abundant supply of higher GWP refrigerants.