Middle East and Africa Refrigerant Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (HCFC, HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, and Others) and Application (Refrigeration Systems, Chillers, Air-Conditioning Systems, MACs, and Others)

The MEA refrigerant market is expected to grow from US$ 1,072.50 million in 2021 to US$ 1,510.89 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028.       

for the increasing use of energy-efficient cooling solutions is a major trend in the refrigerant industry in this region. The increasing average temperature due to climate change, economic growth, and urbanization are likely to boost the demand for energy-efficient refrigerants. Refrigerants with lower warming potential will help reduce total greenhouse gas emissions. The use of refrigerants causing the depletion of the ozone layer has been a prominent area of concern, which has led to a shift in manufacturers’ focus toward the development of energy-efficient refrigerants. Ongoing technological advancements in cooling and the subsequent replacement of traditional refrigerants with natural ones would further boost the refrigerant market growth in the MEA in the coming years. With the projected surge in energy demands in emerging economies experiencing strong economic growth, the demand for energy is also expected to grow rapidly in the coming years, which would create a greater need for energy-efficient refrigerants. Hydrocarbons are the most energy-efficient, low-cost, and eco-friendly cooling substitutes for fluorocarbon used in cooling equipment due to their low prices and easy availability.

With innovative features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA refrigerant market at a notable CAGR during the forecast period.    

MEA Refrigerant Market Revenue and Forecast to 2028 (US$ Million)

MEA Refrigerant Market Segmentation       

The MEA refrigerant market is segmented based on type, application, and country. Based on type, MEA refrigerant market is segmented into HCFC, HFC, HFO, isobutane, propane, ammonia, carbon dioxide, and others. The HFC segment dominated the market in 2020 and HCFC segment is expected to be fastest growing during forecast period. Based on application, MEA refrigerant market is segmented into refrigeration system, chillers, air-conditioning systems, MACs, and others. The refrigeration system segment dominated the market in 2020 and air-conditioning systems segment is expected to be fastest growing during forecast period. Based on country, the MEA refrigerant market has been segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.           

AGC Inc.; AIR LIQUIDE SA; Arkema; Daikin Industries, Ltd.; Dongyue Group; Honeywell International Inc.; LINDE; Sinochem Group Co. Ltd.; and The Chemours Company are among the leading companies in the MEA refrigerant market.

1. AGC Inc.
2. AIR LIQUIDE SA
3. Arkema
4. Daikin Industries, Ltd.
5. Dongyue Group
6. Honeywell International Inc.
7. LINDE 
8. Sinochem Group Co. Ltd.  
9. The Chemours Company

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA refrigerant market.            
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the MEA refrigerant market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the refrigerant market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution