Global R-142B Market Size By Type (OEM, Aftermarket), By Application (Refrigerant), By Geographic Scope And Forecast

R-142B Market Size And Forecast

R-142B Market size was valued at USD 248.93 Million in 2021 and is projected to reach USD 345.93 Million by 2030, growing at a CAGR of 3.72% from 2023 to 2030.

Due to increasing concerns about the environment and regulations aimed at decreasing greenhouse gas emissions, consumer interest in lower GWP refrigerants is expected to rise further. The Global R-142B Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global R-142B Market Definition

R142b is used in fluoro-organic synthesis as a refrigerant, solvent, sporophore, and raw material. R142B refrigerant gas. Under normal conditions, it is a colourless gas with a slight fragrance, and under pressure, it is a colourless and transparent liquid that is easily soluble in oil but poorly soluble in water. It is primarily used in high-temperature refrigerating systems, thermostatic control switches, as an intermediate of aerial propellant, and as an important raw material for vinylidene fluoride. However, owing to its high global warming potential (GWP), R-142b has been phased out in many countries under the Montreal Protocol. The United States, for example, has prohibited the production and importation of R-142b since January 1, 2020.

Alternative refrigerants with lower GWP, such as hydrofluoroolefins (HFOs) and hydrocarbons (HCs), are encouraged in industries that previously used R-142b. The R-142B Refrigerators are used because of their non-corrosive properties, high heat of vaporisation, moderate density in liquid form, and high density in gaseous form. Furthermore, many chemicals, such as hydrochlorofluorocarbons (HCFC), hydrofluorocarbons (HFC), hydrofluoric-olefins (HFO), and other inorganic chemicals, are available for use as refrigerants. R142B refrigerants are primarily used in building air-conditioning systems, as well as in the chemical, pharmaceutical, and food industries.

Global R-142B Market Overview

Rising demand for air conditioners as a result of urbanisation and lifestyle improvements is a major driver of the r142b market. The growing use of refrigerators in refrigeration systems for chemicals, food and beverages, pharmaceuticals, and other industries is driving market growth. Another driving factor for the market is the wide range of applications for PVDF. R142b is used to make PVDF, which is used in industries like aircraft, automobiles, and military aircraft. Emerging advanced technologies will also open new doors for the r142b market.

PVDF (polyvinylidene fluoride) has grown explosively in response to the continuous expansion of application demand in lithium battery manufacturing, photovoltaic backplane, and energy storage. R142b, the main raw material utilized for the production of the fluorine chemical product PVDF, has risen in the same direction, with its most recent price reaching 180000 yuan/ton, a monthly increase of more than 10% and a 12-fold increase over the past year. However, due to environmental concerns, the amount of HCFC-142b used in the refrigerant field is decreasing, and many countries’ restrictive rules are becoming stricter, potentially impeding the market growth.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global R-142B market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behaviour of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global R-142B Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global R-142B Market Segmentation Analysis

The Global R-142B Market Segmented on the Basis of Type, Application, and Geography.

R-142B Market, By Type

• OEM
• Aftermarket

Based on Type, the market is segmented into, OEM and Aftermarket. R-142B refrigerant has been produced by the manufacturer of the equipment that will use the refrigerant. For instance, if a refrigerator manufacturer produces a refrigerator that uses R-142B, the R-142B they use is considered OEM. Aftermarket R-142B is usually employed to replace the original refrigerant supplied with the equipment.

R-142B Market, By Application

• Refrigerant
• Others

Based on Application, the market is segmented into Refrigerant and Others. The use of R-142B as a cooling agent in refrigeration systems, such as air conditioning systems, refrigerators, and freezers, is referred to as refrigerant. R-142B is a high-capacity, high-efficiency hydrochlorofluorocarbon (HCFC) refrigerant. It has been widely used as a replacement for CFC refrigerants, which have been phased out due to their ozone-depleting effects.

R-142B Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Geography, the global R-142B market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is a significant market for R-142B due to the substantial demand for refrigeration and air conditioning systems. The region has an elevated need for R-142B as a refrigerant due to its excellent cooling properties and low ecological impact when compared with older refrigerants like CFCs.

Key Players

The “Global R-142B Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are Chemours, Honeywell, Mexichem, Arkema, Sinochem, Dongyue Group, Zhejiang Baili, Quimobasicos, Jiangsu Meilan Chemical, Zhejiang Yonghe Refrigerant, Navin Fluorine International, Shandong Yuean Chemical Industry, Zhejiang Juhua, Zhejiang Fotech, SRF Limited and among others.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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