The Ammonia Refrigerant Market size is forecast to reach $70.12 billion by 2027 after growing at a CAGR of 4.5% during 2022-2027. Ammonia refrigerant is commonly known as R717 and its chemical formula is NH3. It is also the only refrigerant outside the halocarbons group like CFCs, CFHCs. Ammonia has the highest refrigerating capacity per pound of any refrigerant including halocarbons and a number of other excellent thermal properties that make it popular for a number of refrigeration applications. The growth of the market is expected to be driven by the high demand ammonia refrigerant from the food and beverage sector.
The report: “Ammonia Refrigerant Market” -Forecast (2022-2027)” covers an in-depth analysis of the following segments of the ammonia refrigerant Industry.
The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. South Korea, Italy and Japan are the most affected among the major industrialized economies. Consequently, 80 percent of automotive and related companies report that Coronavirus will have a direct impact on their 2020 revenues. 78 percent of companies do not have enough staff to run a full production line. More than 80 percent of the world’s auto supply chain is connected to China. In January 2020 China’s car sales plunged by 18 percent. The China Passenger Car Association (CPCA) considers that the first two-month sales could decline by 40 percent or more compared to the same period in 2019. Production shortfalls resulting from supply chain disruptions in China will impact global automakers. This factor will hinder the growth of the market for the year 2020. But after the situation became normal it will grow with a steady rate in the forecast period.
One of the biggest advantages of ammonia gas as the refrigerant is that it is safe to the environment and does not cause any depletion of the ozone layer. Due to this it won’t have to be replaced with any alternative refrigerants as is the case with a number of chlorofluorocarbons (CFCs). Ammonia is the oldest of all the refrigerants being used and it will compete with the new refrigerants for a number of years to come. Now, considering the known environmental concerns with newer refrigerants many are returning to refrigerants like ammonia, which have zero environmental impact. The refrigeration process remains the same regardless of the refrigerant used to transfer heat out of the system. This factor will drive the growth of the market in the forecast period.
According to the International Institute of Ammonia Refrigeration (IIAR), ammonia is 3 to 10% more thermodynamically efficient than competitive refrigerants. This allows an ammonia-based refrigeration system to achieve the same cooling effect while using less power. As a result, where ammonia refrigeration is appropriate, it can offer lower long-term operation costs. This factor will drive the growth of the market in the forecast period.
Ammonia has always been a popular choice for Industrial Refrigeration, but now with new regulations and environmental concerns over other refrigerants, there is a renewed focus on ammonia-based systems. The biggest risk that may occur is an ammonia leak, which is both a health and safety hazard. The most common health concerns with ammonia are skin burns and difficulty breathing, as well as death only in the rarest cases. Leaks most commonly occur during the unloading and loading of ammonia, however, careful and considerate design and diligent training of employees can go a long way towards preventing these leaks. It is also important to consider any local regulations that may exist around the use or storage of ammonia prior to considering ammonia as a refrigerant. Some countries and local jurisdictions have regulations surrounding the safe handling of ammonia. This factor will hinder the growth of the market in the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ammonia refrigerant market. In 2019 the market of ammonia refrigerant market has been consolidated by the top five players accounting for xx% of the share. Major players in the ammonia refrigerant market are Danfoss Group, The Linde Group, Sinochem Group, Dehon Group, National Refrigerants, Inc., and others.
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Report Coverage
The report: “Ammonia Refrigerant Market” -Forecast (2022-2027)” covers an in-depth analysis of the following segments of the ammonia refrigerant Industry.
- By Purity: Purity 99% and Purity 99.8%.
- By Application: Cold Storage, Super Markets, Heavy Commercial Refrigeration, Transport Refrigeration, Household Refrigeration, and Others.
- By End Use: Industrial, Food and Beverage, Automotive, Consumer Electronics and Others.
- By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Asia-Pacific dominates the ammonia refrigerant market owing to increasing demand from the dairy sector.
- The cost effective pipe installation and leaks detection are the key things that drives the market growth of the ammonia refrigerants market.
- Cost effective and leak proof ammonia refrigeration systems will hinder the growth of the market in the forecast period.
- By Type - Segment Analysis
- By Application - Segment Analysis
- By End Use - Segment Analysis
The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. South Korea, Italy and Japan are the most affected among the major industrialized economies. Consequently, 80 percent of automotive and related companies report that Coronavirus will have a direct impact on their 2020 revenues. 78 percent of companies do not have enough staff to run a full production line. More than 80 percent of the world’s auto supply chain is connected to China. In January 2020 China’s car sales plunged by 18 percent. The China Passenger Car Association (CPCA) considers that the first two-month sales could decline by 40 percent or more compared to the same period in 2019. Production shortfalls resulting from supply chain disruptions in China will impact global automakers. This factor will hinder the growth of the market for the year 2020. But after the situation became normal it will grow with a steady rate in the forecast period.
- By Geography - Segment Analysis
Driver - Ammonia Refrigerant Market
Ammonia refrigerant are environment friendly, this factor will drive the growth of the market
One of the biggest advantages of ammonia gas as the refrigerant is that it is safe to the environment and does not cause any depletion of the ozone layer. Due to this it won’t have to be replaced with any alternative refrigerants as is the case with a number of chlorofluorocarbons (CFCs). Ammonia is the oldest of all the refrigerants being used and it will compete with the new refrigerants for a number of years to come. Now, considering the known environmental concerns with newer refrigerants many are returning to refrigerants like ammonia, which have zero environmental impact. The refrigeration process remains the same regardless of the refrigerant used to transfer heat out of the system. This factor will drive the growth of the market in the forecast period.
Ammonia refrigerant can lower long-term operation costs, this factor will drive the growth of the market
According to the International Institute of Ammonia Refrigeration (IIAR), ammonia is 3 to 10% more thermodynamically efficient than competitive refrigerants. This allows an ammonia-based refrigeration system to achieve the same cooling effect while using less power. As a result, where ammonia refrigeration is appropriate, it can offer lower long-term operation costs. This factor will drive the growth of the market in the forecast period.
Challenges - Ammonia Refrigerant Market
The risk of accidental exposure to high concentrations of ammonia will hinder the growth of the market in the forecast period
Ammonia has always been a popular choice for Industrial Refrigeration, but now with new regulations and environmental concerns over other refrigerants, there is a renewed focus on ammonia-based systems. The biggest risk that may occur is an ammonia leak, which is both a health and safety hazard. The most common health concerns with ammonia are skin burns and difficulty breathing, as well as death only in the rarest cases. Leaks most commonly occur during the unloading and loading of ammonia, however, careful and considerate design and diligent training of employees can go a long way towards preventing these leaks. It is also important to consider any local regulations that may exist around the use or storage of ammonia prior to considering ammonia as a refrigerant. Some countries and local jurisdictions have regulations surrounding the safe handling of ammonia. This factor will hinder the growth of the market in the forecast period.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ammonia refrigerant market. In 2019 the market of ammonia refrigerant market has been consolidated by the top five players accounting for xx% of the share. Major players in the ammonia refrigerant market are Danfoss Group, The Linde Group, Sinochem Group, Dehon Group, National Refrigerants, Inc., and others.
Acquisitions/Technology Launches /Product launches
- In January 2017, Airgas, Inc., acquired the assets and operations of Gartech Refrigerant Reclamation Center, Inc. Airgas Specialty Products, a leader in the distribution of industrial ammonia, process chemicals, and refrigerants.
This product will be delivered within 2 business days.
Table of Contents
1. Ammonia Refrigerant Market- Market Overview
2. Ammonia Refrigerant Market - Executive Summary
3. Ammonia Refrigerant Market - Landscape
4. Ammonia Refrigerant Market - Market Forces
5. Ammonia Refrigerant Market -Strategic analysis
6. Ammonia Refrigerant Market - By Purity (Market Size - $Million)
7. Ammonia Refrigerant Market - By Application (Market Size - $Million)
8. Ammonia Refrigerant Market - By End Use (Market Size - $Million)
9. Ammonia Refrigerant Market - By Geography (Market Size - $Million)
10. Ammonia Refrigerant Market - Entropy
11. Ammonia Refrigerant Market Company Analysis
Methodology
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