Global Aerosol Refrigerants Market By Product Type (Aluminum, and Steel), By Application (Industrial, Household, Commercial, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Aerosol Refrigerants Market Overview:

In 2021, the global aerosol refrigerants market was valued at USD 992.0 million exhibiting a CAGR of 5.0% during 2023-2032.

The industry is likely to see a rise in demand for natural refrigerants due to increased awareness about environmental protection. This product provides an energy-efficient cooling solution for end-user industries and drives industry growth.

Global Aerosol Refrigerants Market Scope:

Product Type Analysis

Steel cans are expected to see a rise in demand due to the increased use of steel cans for packaging hydrocarbon-based refrigerants. The increasing efforts to recycle are expected to increase the demand and lower the cost of empty steel cans. Due to the increased adoption of these products, there will be a rise in demand for steel cans.

Over the forecast period, steel aerosol refrigerants demand is expected to increase at a rate of 4.2% revenue. Demand is expected to be driven by the low cost of steel cans and their superior strength. The cans are also resistant to impact and will likely see high growth during the forecast period.
The aluminum container has excellent protection against moisture and ultraviolet light. It is also resistant to oxygen, carbon dioxide, hydrogen, and other gases. Aluminum cans are expected to be more popular due to their lightweight, portability, and corrosion resistance.

Aluminum aerosol refrigerants are expected to see a rise in demand due to their ease of printing, embossing, and shaping. The container also provides pressure handling capabilities that will drive industry growth in the future. The market is expected to see an increase in aluminum-based products due to its superior inertia.

Application Analysis

Because of its portability, the product penetration in aftermarket industries is higher for consumers. The product’s lower handling costs are expected to increase adoption. The industry’s growth is expected to be positive for commercial refrigeration and air conditioning systems. The sector’s growth has been accelerated by the rise of supermarket chains and the introduction of CO2 cascade technology for cooling solutions.

Кеу Маrkеt Ѕеgmеntѕ:

By Product Type

• Aluminum
• Steel

By Application

• Industrial
• Household
• Commercial
• Other Applications

Market Dynamics:

Due to the HFC phase-down plan and the transition to eco-friendly natural products, the U.S. mobile air conditioning and commercial refrigeration industries will likely experience significant growth during the forecast period. In recent years, there has been an increase in demand for cooling equipment. This has in turn led to an increase in aerosol refrigerant use in the economy.

The industry of aerosol refrigerants follows the rapid growth of the refrigerant, which is expected to be driven primarily by increased cooling system demand. These products are expected to be highly regulated, with the U.S. EPA, as well as the European Commission, enforcing strict regulations pertaining to the type of propellant and refrigerant.

A large number of suppliers is what makes the raw material market unique. The industry is also moving towards the use of bio-based and active ingredients due to concerns about the use of volatile organic compounds (VOCs), in substitute products.

Original equipment manufacturers, such as Samsung and LG, use the products extensively. Because of its portability, product penetration in the aftermarket market is higher. Additionally, the product’s low cost of manufacture will likely lead to increased adoption.

The industry’s growth is expected to be influenced by the increasing demand for household and commercial refrigeration as well as air conditioners. The industry has seen significant growth due to the implementation of CO 2cascade technology in cooling systems and the expansion of supermarkets.

Regional Analysis

The Asia Pacific is expected to experience strong growth due to a favorable environment and the growth of its industrial sector. The Asia Pacific accounted for 32.4% of the total revenue share. The industry is expected to grow due to an increase in household income, as well as increased consumption of refrigerators and other household products.

From 2023 to 2032, the industry is expected to grow at a 5.6% CAGR by revenue. The significant use of this product in mobile air conditioning and domestic refrigeration has led to a substantial increase in hydrocarbon and inorganic refrigerants in Europe. This will likely drive the aerosol refrigerants market.
China’s large number of refrigeration equipment and cooling equipment manufacturing companies is expected to help the industry. The country’s refrigerant market has been boosted by factors such as rapid industrialization and rapid urbanization.

Japan is likely to see a high demand for natural aerosol refrigerants. The Japanese gov. has undertaken initiatives to accelerate the phasing out of hydrofluorocarbon-based refrigerants and promote the use of natural products. The industry is expected to grow due to increased demand for organic aerosol refrigerants because of their wider application range.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

This market is characterized in that it has a large number of local manufacturers, as well as a few global players who account for a significant share of global annual production. Companies compete on price and product technology to position themselves as producers of high-end products.

Low-profit margins in the industry limit the price reductions that companies offer. This market is known for its extensive research and development in product and production technology. There are also many small, unorganized players who deal primarily with local distribution and serve the domestic and adjacent economies.

Companies like The Chemours Company and FJC Inc. dominate the development and production of aerosol refrigeration products. They also contribute a large share to the overall production. Their market knowledge and experience are a benefit to the companies.

Маrkеt Кеу Рlауеrѕ:

• FЈС Inc.
• Тhе Chemours Соmраnу
• Technical Chemical Соmраnу
• ІТW Ѕехtоn
• Ваltіс Refrigeration Group
• Fаѕtеnаl Соmраnу
• Nu-Саlgоn Wholesaler Inc.
• ЅТР Products Соmраnу
• Mexichem Ѕ.А.В. dе С.V.
• Other Key Players

For the Aerosol Refrigerants Market research study, the following years have been considered to estimate the market size: