Manufacturing of Refrigerant Gas R22
Investment Ideas for Startup of Refrigerant Gas R22. Exploring Business Opportunities in Industrial Gases.
A refrigerant is a substance or mixture, usually a fluid, used in a heat pump and refrigeration cycle. In most cycles it undergoes phase transitions from a liquid to a gas and back again. Many working fluids have been used for such purposes. Fluorocarbons, especially chlorofluorocarbons, became commonplace in the 20th century, but they are being phased out because of their ozone depletion effects. Other common refrigerants used in various applications are ammonia, sulfur dioxide, and non-halogenated hydrocarbons such as propane.
R22 refrigerant is one of the most commonly used refrigerants in the air conditioning systems. R22 is the short name for the halocarbon compound CHClF2 (monochlorodifluoromethane), which is used as the refrigerant. R stands for the refrigerant. In the number “22” second “2” denotes the number of the fluorine atoms in the compound.
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Refrigerant is a chemical mixture of fluids, which function as cooling agents in heat pumps & refrigeration cycles. It works on the principle of phase transition, i.e., liquid to gas and vice versa at variable operating temperatures. Refrigerants can be used either as primary working fluids in absorption refrigeration systems or as secondary fluids to transport thermal energy from one medium to another. The need for refrigerants has rapidly increased in the industrial and commercial sectors.
Uses & Applications
Residential and light air conditioning has been the primary market for R22 (Hydro chlorofluorocarbon 22) refrigerant. Global warming caused by greenhouse emissions has raised the temperature and has become one of the major factors behind the increasing demand for HVAC. In 2018, carbon emission rose by 2%, the fastest pace in seven years. The extreme weather in 2018 resulted in increased demand for air conditioning, according to BP Plc. in its annual energy sector.
Refrigerant R22 (Hydro chlorofluorocarbon 22), the generally accepted and most suitable refrigerant for air conditioners. At present R22 is extensively used in the industries for liquefaction of the gases like chlorine, for supplying chilled water to various processes, machines, chillers of central air conditioning systems, and others. R22 is non-toxic, making this refrigerant highly safe for domestic and industrial purposes is non-flammable. Medium and low temperature commercial and industrial refrigeration and freezer rooms Cold stores, cabinets, water chillers & process cooling.
Air Condition
Automotive Air Conditioner
Refrigerator
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Market Outlook
R22 Refrigerant Market size is forecast to reach $4.87 billion by 2025, after growing at a CAGR of 5.48% during 2020-2025. The R22 refrigerant market is driven by refrigeration and air-conditioning application across a wide range of temperatures. R22 refrigerant market is a colorless gas and is known as Chlorodifluoromethane has been used as a substitute for chlorofluorocarbon (CFC) after phase out, which has propelled the demand for R22 refrigerant across various segments.
The construction output of the APAC countries is increasing gradually due to the growing population and the increased number of nuclear families. In addition, the increasing purchasing power of the middle-class population and rising standards of living are driving the industry. These factors are expected to fuel the refrigerants market.
Increased industrialization in emerging economies such as China, India, and Japan has led to establishment of a large number of data centers, subsequently fueling demand for refrigerants. Factors such as rise in manufacturing units across Asia Pacific and surge in demand for improved maintenance of industrial equipment will further augment the global refrigerant market.
Increasing demand for the domestic air-cooling system due to the rising disposable income of the population from developed countries is fueling the market growth. Whereas, air conditioning has also widened its application areas in automotive on account of inclination of customers toward high comfort in luxury vehicles and rising global demand for mobile air conditioning solutions.
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Application Insights
The stationary air conditioning, chillers, and heat pumps segment dominated the market by application and accounted for over 47% of the overall volume in 2016. Increased spending power of the middle class on consumer appliances, such as refrigeration systems, has resulted in the growth of this segment. Rising demand for cooling equipment owing to rapid industrialization, deteriorating weather conditions, and growth in the manufacture of consumer appliances has also positively influenced its demand.
Commercial refrigeration is another application witnessing significant growth. Increasing hypermarket, supermarket, and food retail chains, coupled with rise in consumption of packaged and frozen foods, has boosted the demand for commercial refrigerants.
The mobile air conditioning application segments represent fast-growing and lucrative opportunities owing to rapid expansion of automotive manufacturing in emerging economies. A significant increase in consumer disposable income has substantially increased passenger car sales in countries such as China, India, Vietnam, Thailand, Venezuela, Argentina, and Indonesia.
Domestic refrigeration demand is fueled by rising adoption of energy-efficient and environment-friendly products in developed economies like North America and Europe. Across emerging economies such as Asia Pacific and Middle East and Africa, demand for domestic refrigeration is spurred by food wastage concerns, need for improved food quality, and an increase in disposable income, leading the more affluent middle class to spend more on modern appliances.
Growth of refrigeration market, particularly in cold-chain logistics, is driven by the boom in international trade of perishable commodities, consumer demand for frozen and chilled food and beverages, and demand from the life science and pharma industries. The segment is expected to witness substantial growth in Asia Pacific owing to increased healthcare spending, booming trade of fruits and vegetables and confectionery, and increased spending by the middle class on frozen food and beverages.
Air conditioning is observed to be gaining importance as a comfort feature in automobiles, thereby influencing consumer purchasing behavior and generating high demand for mobile air conditioning products and services. Air conditioning has also been considered as a factor resulting in increased efficiency in off-highway automobile applications, which has further boosted its demand.
KEY PLAYERS
Chemours
Refrigerant & Chemical
Jiangxi Bosheng New Refrigerant Co., Ltd.
Quzhou Jinyuan Hongtai Refrigerant Co., Ltd
ComStar
Anhui T.C Refrigerant High-tech Co., LTD
DuPont
Arkema
Hangzhou Elk Refrigerant High-Tech Co., Ltd