Middle East Refrigerants Market

Middle East Refrigerants Market Size, Share, Growth Analysis, By Refrigerants(Ammonia, Carbon Dioxide), By Application(Food & Beverages, Oil & Gas) - Industry Forecast 2024-2031

Report ID: SQMIR15E2527 | Region: Regional | Published Date: April, 2024
Pages: 184 | Tables: 63 | Figures: 68

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Middle East Refrigerants Market size was valued at USD 6.6 billion in 2022 and is poised to grow from USD 7.19 billion in 2023 to USD 14.33 billion by 2031, growing at a CAGR of 9.0% in the forecast period (2024-2031).

The competitive landscape of the Middle East refrigerants market is marked by sturdy opposition among numerous main gamers inside the industry. These groups constantly attempt to differentiate themselves via that specialize in product innovation, sustainability, and increasing their distribution networks. 'Gulf Cryo (Bahrain)', 'Linde (Saudi Arabia)', 'Arkema (Turkey)', 'Honeywell International (Israel)', 'Daikin Industries (Turkey)', 'Harp Middle East LLC (United Arab Emirates)', 'Brothers Gas Bottling (United Arab Emirates)', 'Abdullah Hashim Industrial Gases & Equipment (Saudi Arabia)', 'Air Liquide (Saudi Arabia)', 'GASPECS (United Arab Emirates)', 'Buzwair Industrial Gases Factories (Qatar)', 'AL Waleed Chemical Industry LLC (Israel)', 'Distribution Co. LLC (United Arab Emirates)'

One main driver of the Middle East refrigerants market is the tightening of environmental guidelines. As international agreements, like the Kigali Amendment to the Montreal Protocol, push for the phasedown of high-GWP (Warming Potential) refrigerants, Middle Eastern countries are compelled to adopt eco-friendly alternatives. This regulatory stress fuels demand for low-GWP refrigerants and drives innovation in the sector, aligning the market with sustainability dreams.

Growing Adoption of Low-GWP Refrigerants : As environmental concerns and regulatory pressures mount, Middle Eastern countries are unexpectedly transferring in the direction of extra environmentally pleasant refrigerant options. This trend is driven by using a dedication to lowering greenhouse gas emissions and aligning with international agreements like the Kigali Amendment to the Montreal Protocol, which emphasize the phasedown of high-GWP refrigerants. As a result, there is a growing call for eco-conscious, strength-green cooling solutions inside the vicinity, prompting producers to make investments inside the development and distribution of these low-GWP alternatives.

Saudi Arabia stands as a dominating force in the Middle East refrigerants market. Riyadh and Jeddah are predominant cities leading the charge. Saudi Arabia's dominance may be attributed to its extensive oil reserves, which facilitate the production and distribution of refrigerants. Additionally, the Saudi government's tasks to diversify the economic system and reduce reliance on oil have spurred a boom in the HVAC and refrigeration sectors, bolstering demand for refrigerants. The u . S .'s strategic region and robust exchange relations additionally role it favorably for local marketplace management.

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