Latest News- Aerosol Refrigerants Market: Residential is expected to lead the End-user segment during 2024-2028

The Aerosol Refrigerants Market is being driven by Increasing demand for refrigerators, chillers, and air conditioners

The Aerosol Refrigerants Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 315.6 million. In the aerosol refrigerants market, there is a growing emphasis on the environmental impact of conventional refrigerants, which exhibit desirable flammability and toxicity characteristics but possess undesirable high Ozone Deppletion Potential (ODP) and Global Warming Potential (GWP) attributes. New zero-ODP, low-GWP alternatives, while preferred for their environmental benefits, often present challenges such as higher flammability, toxicity, or lower volumetric capacity compared to HFC refrigerants. In response to this, governments are mandating the development and adoption of refrigerants that offer satisfactory cooling performance with zero ODP and lower GWP. Regulations, such as the EU f-gas regulations, aim to limit the use of HFCs with higher GWP, driving the need for sustainable refrigeration and air conditioning solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Residential
  • Commercial
  • Others
• Product
  • Aluminum
  • Steel
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for refrigerators, chillers, and air conditioners
• Growth in e-commerce sales
• High demand for propane-based aerosol refrigerants from cold chain solutions

However, the market also witnesses some limitations, which are as follows:

• Raw material price fluctuations
• Precautions needed for handling and storing refrigerants
• Health and environmental concerns leading to stringent rules and regulations

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Market Scope in Aerosol Refrigerants Market Research Report

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Research Analysis Overview

The Aerosol Refrigerants Market encompasses the use of flammable and non-flammable refrigerants in aerosol containers. Key aspects include refrigerant recovery, recycling, and charging, as well as leak detection, management, and safety regulations. Aerosol recycling and disposal are crucial for sustainability, with labeling requirements, container design, and performance testing shaping the product lifecycle. Innovation, brand building, and customer loyalty are essential for market differentiation, driven by product development, quality assurance, and safety assurance. Strategies for innovation and sustainability, along with manufacturing efficiency and environmental footprint, shape the competitive landscape. Regulatory compliance and technology advancement are critical for market growth, with application development and product customization offering new opportunities. Industry associations play a key role in shaping the future of the aerosol refrigerants market.

Market Research Overview

The global aerosol refrigerants market is a significant segment of the specialty chemicals industry, encompassing manufacturers of high-value-added chemicals for use in air conditioning systems, aerosol cans, spray cans, and aerosol dispensers. This market's size is determined by the combined revenue generated by these companies, as calculated by Technavio. Factors driving the growth of this market include the increasing demand for alternative and environmentally friendly refrigerants, which are gaining traction in the air conditioning sector. Additionally, the shift towards specialty adhesives and sealants, which are also produced using high-value-added specialty chemicals, is expected to contribute to the market's expansion during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/