Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Middle East Refrigerants Market
Middle East refrigerants market size exceeded USD 145.97 Million in 2020 and is estimated to grow at a CAGR of 6.85% between 2021 and 2027. Massive industries rely on refrigerant systems for their operations of heat removal which is expected to drive middle east refrigerants business growth.
Refrigerants are compounds found in gaseous and fluid form and they perform primary function of absorbing heat from the environment. The refrigerants in a heat cycle transfer heat from one area to the other and provide air conditioning and refrigeration when combined with other components including compressors and evaporators. Refrigerants are used in air conditioning, fridge, freezers, and vehicle air conditioners.
Refrigerants have applications in various industries including pharmaceutical, oil & gas, chemical and petrochemical, metallurgy and food & beverage owing to its increased demand for production of industrial refrigeration systems for cooling applications. Gases including propane, carbon dioxide, ammonia and hydro chloro-fluorocarbon are used as refrigerants in various refrigeration systems. Moreover, rising use of refrigerants in various industrial operations including on shore, offshore, freezing, preservation is anticipated to stimulate the Middle East refrigerants market share.
Report Attribute | Details |
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Base Year: | 2020 |
Middle East Refrigerants Market Size in 2020: | 145.97 Million (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 6.85% |
2027 Value Projection: | 232 Million (USD) |
Historical Data for: | 2016 to 2027 |
No. of Pages: | 120 |
Tables, Charts & Figures: | 108 |
Segments covered: | Refrigerant, Application |
Growth Drivers: |
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Pitfalls & Challenges: |
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