Chemours, Sinochem, SRF, and Tazzetti Recognized as Leaders in the “Top 15 Refrigerants Companies, Worldwide 2024” by MarketsandMarkets 360 Quadrant

Refrigerants are essential for regulating temperature across various sectors, from food storage to automotive cooling systems. The market for these substances is experiencing robust expansion, fueled by several factors such as escalating demand for cooling solutions in residential and commercial domains, stringent regulations targeting greenhouse gas emissions reduction, and advancements in refrigeration and air conditioning technologies. As environmental sustainability gains prominence and the phasing out of ozone-depleting substances progresses, there’s a notable surge in demand for eco-friendly refrigerants like hydrofluorocarbons (HFCs), hydrochlorofluorocarbons (HCFCs), and natural options such as ammonia and carbon dioxide. Additionally, the uptake of air conditioning and refrigeration systems in emerging economies, alongside the development of energy-efficient cooling technologies, further drives market growth. With an ongoing global emphasis on energy efficiency and environmental preservation, the refrigerants market is poised for sustained expansion, fueled by innovation and regulatory compliance efforts.

The 360 Quadrant maps the Refrigerants Companies based on criteria such as revenue, geographic presence, growth strategies, investments, and sales strategies for the market presence of the Refrigerants’ quadrant. While the top criteria for product footprint evaluation included Type (HFC & Blends, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide), Application (Refrigeration System (Industrial, Commercial, Residential), Airconditioning system, Chillers, Mobile Airconditioning).

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Chemours, Sinochem, SRF, and Tazzetti – The Leaders Explained

Chemours Recognized as a Market Leader Among the “Top 15 Refrigerants Companies, Worldwide 2024″ by MarketsandMarkets 360 Quadrant.

Chemours is a prominent player in the refrigerants market and was recognized for its global presence and its innovative product portfolio spanning performance chemicals. The company has positioned itself as a global leader, catering to diverse sectors. The company’s commitment to sustainability is evident through products like Freon and Opteon refrigerants, designed to address environmental concerns. The Opteon range of refrigerants with low global warming potential (GWP) was developed to minimize environmental impact while ensuring optimal performance across various applications, from automotive air conditioning to commercial refrigeration. Notable products include Opteon XP40 (R-449A), Opteon XL40 (R-454A), XL20 (R-454C), and other low GWP HFO variants. Additionally, the Freon brand offers an extensive selection of refrigerant solutions for both new and existing equipment, catering to industries such as food and beverage, transportation, medical, pharmaceutical, commercial, and residential buildings. Freon’s HFC refrigerants are ozone-friendly, ensuring superior quality and performance across a myriad of air conditioning and refrigeration applications, ultimately enhancing comfort and quality of life.

At the forefront of the refrigerants sector, Chemours stands out for its globally embraced innovative solutions. With a diverse portfolio serving multiple industries, the company’s strong market presence and track record of delivering comprehensive solutions set a benchmark for excellence in the field. Chemours’ commitment to innovation, reliability, and extensive global reach cements its status as a leading provider of refrigerants expertise, exerting significant influence on the industry landscape worldwide.

Sinochem Recognized as Contender Among the “Top 15 Refrigerants Companies, Worldwide 2024″ by MarketsandMarkets 360 Quadrant

Sinochem has been acknowledged as a contender among the “Top 15 Refrigerants Companies,” showcasing its prominence in the refrigerants sector. Sinochem Group’s fluorine chemical business spans the entire industry value chain, from resource extraction (fluorspar and AHF) to research and development, production, and marketing. Its subsidiary, Sinochem Lantian Co., Ltd., stands as a leading enterprise in the Chinese market for fluorine chemical R&D and production. With a comprehensive product range encompassing fluorocarbons, fluoro specialty chemicals, fluoropolymers, and inorganic fluoride, the company boasts an annual capacity exceeding 600,000 tons. The company’s product offerings, including R134a, R125, R32, and R143a, find diverse applications in automobile air conditioning, refrigeration, central air conditioning, as well as in foaming agents, propellants, and magnesium alloy shielding gas. Notably, its Jincool automotive refrigerant commands an impressive 80% market share among domestic automobile OEMs.

As a leader in the refrigerants sector, Sinochem stands out with its significant market presence and commitment to innovative solutions. Constantly improving its product lineup, the company solidifies its leadership position in the industry. While maintaining competitiveness with its current offerings and a dedicated customer base, Sinochem remains focused on enhancing its capabilities and adopting forward-thinking strategies to adapt to changing market trends. Positioned for future expansion, the company actively drives progress across its product portfolio, positioning itself to strengthen its foothold and capitalize on emerging opportunities as the refrigerants sector continues to evolve.

SRF and Tazzetti Gained Recognition as Emerging Companies in the ” Top 15 Refrigerants Companies, Worldwide 2024″ by MarketsandMarkets 360 Quadrant.

SRF provides a diverse range of refrigerants tailored to meet the varying needs of HVAC (Heating, Ventilation, and Air Conditioning) applications. These refrigerants find widespread usage in applications such as room air conditioners, automobile air conditioners, refrigerators, and chillers. Marketed under the FLORON brand, SRF holds the distinction of being the one of the leading Indian manufacturers of ozone-friendly refrigerants like F 134a and F 32. Additionally, the company also manufactures HFC blends such as F 410A and F 407C. The company continues to produce HCFC 22 under the FLORON-22 brand, serving both as a refrigerant and a feedstock for pharmaceutical and agrochemical customers, while also manufacturing Poly Tetra Fluoro Ethylene (PTFE). Notably, SRF has developed the technology for producing refrigerants F 134a and F 32 in-house, showcasing its commitment to innovation and self-sufficiency.

Another company, Tazzetti stands as one of the emerging global entity in refrigerants. The company also has a good presence in the specialty gases sector, as well as in environmental technologies and services. With a rich heritage in research and a dedication to ongoing innovation, the group consistently develops cutting-edge solutions and technologies for the industry. Tazzetti boasts a comprehensive range of refrigerant fluids, including notable products like R 23, R 32, R 125, REFRIX 134a, REFRIX 404A, and REFRIX 407A, among others. Additionally, the company offers Hydrocarbon (HC) refrigerants known for their non-toxic properties, zero Ozone Depletion Potential (ODP), and very low Global Warming Potential (GWP). Commonly used hydrocarbons such as R 290 and R 600a find wide application in new commercial and industrial refrigeration as well as residential, light commercial, and industrial air conditioning systems, particularly at medium and low temperatures.

SRF and Tazzetti distinguish themselves in the refrigerants sector through their customized approach, marked by specialized expertise, attentive support, adaptable terms, and competitive pricing. Recognizing their strengths and areas for improvement, SRF and Tazzetti position

themselves as the preferred partners for tailored solutions, employing strategic approaches to expand their customer base and bolster sales efforts. The companies’ dedication to addressing individual requirements and fostering continual growth seamlessly aligns with the dynamic nature of the refrigerants industry, demonstrating strategic foresight in achieving their goals.

Chemours, Sinochem, SRF, and Tazzetti emerge as pivotal figures in the refrigerants sector, celebrated for their outstanding expertise that positions them as industry frontrunners. Their steadfast commitment to innovation propels significant advancements, offering invaluable contributions to the sector. Through the utilization of state-of-the-art research and development, these companies lead the charge in global technological progress within refrigerants, providing tailored solutions to meet a wide array of customer needs. The rise of these esteemed industry leaders signifies the continuous evolution in this dynamic and rapidly changing field.

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360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate Manufacturers. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Manufacturers. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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