The global aerosol refrigerants market size
is expected to reach USD 1.57 billion by 2025, according to a new report by
Grand View Research, Inc. The rising demand for large-scale refrigerators,
chillers, and air conditioner systems across the globe is expected to propel
demand for the product.
The plant setup for
manufacturing the product requires a significant amount of investment during
the start-up phase of equipment installation and storage. The presence of
stringent government regulations regarding the testing and labeling of such
products before and after placing them on the shelves adds to the final cost of
the product. As a result, the industry exhibits a notable entry barrier.
The rise of e-commerce
portals results in an ease in the product purchase with such companies offering
price discounts. In addition, the product has registered an increase in demand
from the aftermarket industry as low volumes can be packaged in such
containers. The rise in cost of raw materials such as cans, propellants, and
actuators is anticipated to affect the industry.
The industry is
characterized by the presence of a stringent regulatory framework pertaining to
the use of type of refrigerants. In addition, the development of advanced
technology products that cause no environmental damage is one of the major
emerging trends of the industry. However, the increase in the product adoption
is expected to elevate the manufacturer profit margins leading to industry
growth.
Access Research Report of Aerosol Refrigerants Market@ https://www.grandviewresearch.com/industry-analysis/aerosol-refrigerants-market
Further key findings from the report suggest:
· Aluminum based aerosol refrigerants are
expected to register high growth at a CAGR of 6.8% from 2017 to 2025, on
account of low can weight coupled with the growth of metal recycling activities
across North America and Europe
· The demand for the product in Asia Pacific
is expected to reach a value of USD 319.7 million by 2025 on account of growing
industrialization leading to a high demand for refrigeration products
· The industry in the U.S. is anticipated to
register a CAGR growth of 6.5% by revenue from 2017 to 2025 due to increasing
product adoption by the consumers in the industrial and residential
applications
· Key players are involved in the production
of advanced formulations in a bid to drive the industry growth. In addition,
the presence of major manufacturers is expected to limit the growth
opportunities for the emerging players.
Grand View Research has
segmented the aerosol refrigerants market on the basis of product, and region:
Product Outlook (Volume, ‘000 Units; Revenue, USD
Million; 2014 - 2025)
·
Steel
·
Aluminum
Regional Outlook (Volume, ‘000 Units; Revenue; USD
Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
For More Information: www.grandviewresearch.com
