Stationary air conditioning dominates the refrigerants market
CHICAGO — The global refrigerants market is forecast to reach $21 billion by 2020, growing at a compound annual growth rate (CAGR) of 6 percent from 2015 to 2020, according to a report published by MarketsandMarkets.
Refrigerants have a variety of applications including domestic refrigeration, commercial refrigeration, transportation refrigeration, industrial refrigeration, stationary air conditioning, and mobile air conditioning. Stationary air conditioning dominates the refrigerants market, accounting for maximum share in terms of volume in 2014. Growing demand in end-user industries such as construction, food, and pharmaceutical is driving the refrigerants market in the stationary air conditioning sector.