Middle East Refrigerants Market worth above USD 232035 Thousand by 2027
Published Date: May 17, 2021 Authors: Kunal Ahuja, Amit Rawat
According to a new research report by Global Market Insights Inc., the Middle East refrigerants market size is set to surpass USD 232035 thousand by 2027.
Refrigerant is an element used in the form of fluid or gaseous state. It is a type of fluid which is used commonly in refrigeration cycle of heat pump as well as air conditioning. In most of the cases refrigerants undergo repeated phase of transition from liquid to gas and back again. Refrigerants readily absorb heat from surrounding and provide refrigeration and air conditioning especially when it is combined with other components including evaporators and compressors. These refrigerants are used for various industrial application including pharmaceutical industry for operations of drug manufacturing which should boost middle east refrigerant market growth.
Increasing demand for carbon dioxide as refrigerant from food & beverage industry should augment market growth
carbon dioxide refrigerant witnessed a consumption of over 720 tons in 2020, which is likely to witness significant growth up to 2027. Carbon dioxide is widely used in food refrigeration systems owing to its non-corrosiveness and safety from fire. It is used for rapid refrigeration by manufacturers owing to its use in the production of refrigeration systems for rapid chilling of loaded cars. Low cost and rapid cooling are two major factors driving the consumption of carbon dioxide as refrigerant which should strengthen the middle east refrigerant market growth share.
Furthermore, carbon dioxide is non-toxic and non-flammable which drives its application in food and beverage industry. The product is used for low temperature freezing owing to its application for fish freezing application. This property of carbon dioxide offers benefits of low energy consumption and improved quality as compared to other chemical refrigerants. Rising consumer inclination towards frozen and processed foods will boost refrigerants demand from food and beverage industry.
“As per industry forecast, carbon dioxide refrigerants size should register over 9% gains by 2027, pertaining to its low cost and rapid cooling”
Browse key industry insights spread across120 pages with 79 market data tables and 29 figures & charts from the report, “Middle East Refrigerant Market Size By Refrigerant (Ammonia, Carbon Dioxide, Hydro Chloro-Fluorocarbon), By Application (Food & Beverage, Oil & Gas, Chemical & Petrochemical), Industry Analysis Report, Country Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing oil & gas industry in middle east region is expected to boost refrigerant demand for production process and should stimulate market growth
Middle East refrigerants market demand from oil & gas application should exceed USD 38890 thousand up to 2027. The application of refrigeration in the oil & gas industry during the upstream, midstream and downstream processes will boost market growth. Upstream applications include refrigeration for offshore & on shore production and gas dew point control by refrigeration.
Midstream applications include refrigeration in natural gas processing and loading & unloading gas refrigeration. Downstream applications include nitrogen chilling and process cooling. Furthermore, offshore production facilities in oil & gas industry includes pumping, heating, treating, gas cooling, water & gas separation systems that require the application of air conditioning systems for cooling and is expected to augment the Middle East refrigerants market growth.
“As per industry forecasts, oil & gas industry applications should register gains over 6.5% by 2027, pertaining to its various application in oil & gas production processes”
Increasing application of refrigerants in oil & gas industry and chemical and petrochemical industry should drive product demand in Qatar
Qatar refrigerant market should exceed USD 6435 thousand up to 2027 and is anticipated to achieve substantial growth in the projected period. Middle East refrigerants are expected to witness demand from oil & gas and chemical & petrochemical industry owing to various applications in production processes. Refrigerants are used as heat exchangers, performing cooling in the chemical and petrochemical industries. Expansion in the oil & gas sector along with government initiatives for progressive developments is expected to strengthen Middle East refrigerants market share.
“As per market estimates, Qatar should register over 5% gains by 2027, pertaining to growing oil & gas and chemical and petrochemical industries”
The Middle east refrigerants industry share is competitive and includes players such as Abdullah Hashim Industrial Gases & Equipment, Air Liquide, Arkema, GASPECS, Buzwair Industrial Gases Factories, Gulf Cryo, Linde, Daikin Industries, Harp Middle East LLC, Brothers Gas Bottling, Honeywell International, AL Waleed Chemical Industry LLC. and distribution Co. LLC. Companies are focusing on strategic agreements such as partnerships, acquisitions and mergers to expand their production volume, and widen their geographic distribution network.
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