Refrigerants Market: By Product Type (Fluorocarbon, Hydrocarbon, Inorganic, Others), By Application (Industrial Refrigeration, Domestic Refrigeration, Transport Refrigeration, Commercial Refrigeration, Stationary Air Conditioning, Chillers & Heat Pumps, Mobile Air Conditioning) and Geography  

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Refrigerants Market size was valued at USD 22.9 billion in 2022 and is expected to reach USD 38.6 billion by 2029, at a CAGR of 7.7% from 2023-2029. Rising awareness regarding global warming and ozone depletion coupled with the increase in demand for energy-efficient cooling solutions is anticipated to fuel the refrigerant market during the forecast period. Global phase-down of production and consumption of hydro-fluorocarbons (HFCs), one of the six greenhouse gases (GHGs) has led to an increased demand for natural refrigerants. The hydrocarbon and inorganic segments are, therefore, anticipated to attest to significant growth in the market. Increased industrialization in emerging economies such as China, India, and Japan has led to establishment of a large number of data centers, subsequently fueling demand for refrigerants. However, stringent regulation stifles the growth of the market. The report studies Global refrigerant market dynamics elaborately to identify the current market trends and drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the Global Refrigerants market report includes competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global Refrigerants market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities).  The key players in the global market have adopted acquisition, expansion, product launches, technological advancements, and partnerships as their business strategies to sustain the intense competition. Refrigerant giants have focused on market strategies such as product launches and expansion to strengthen their brand image in the market. Honeywell International is a pioneer in developing low GDP and OWP blends. Innovations such as these are expected to inspire other industry players to invest significantly in R&D and the production of environment-friendly products to meet stringent regulatory specifications and changing consumer preferences.

Global Refrigerants Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.7%

Largest Market

North-America

Fastest Growing Market

Asia-Pacific
Refrigerants Market Dynamics

Cold chain is temperature-controlled supply chain, uninterrupted storage, and distribution activities, which maintain a given temperature range. Cold chain market operations that are meant to extend and ensure the shell life of fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs are expected to rapidly increase. This rapid increase is due to the growing demand from the consumers resulting from changing lifestyles and growing advanced technologies. With increasing consumer demand for frozen food products and presence of highly competitive market with low margins, most of the food processors, distributors, and retailers are shifting from the manually operated obsolete facilities to high bay deep-freeze warehouses where refrigerants are widely employed. Moreover, the expansion of food retail chains by multinational companies and the growth in international trade due to trade liberalization have led to an increase in the demand for the cold chain processes, and in turn, increase demand for refrigerants across the world.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Global Refrigerants Market Segmentation

By product type
  • Fluorocarbon
  • Hydrocarbon
  • Inorganic
  • Others
By Application
  • Industrial Refrigeration
  • Domestic Refrigeration
  • Transport Refrigeration
  • Commercial Refrigeration
  • Stationary Air Conditioning, Chillers & Heat Pumps
  • Mobile Air Conditioning
By Geography
  • North America
  • Asia Pacific
  • Latin America
  • Europe
  • Middle East
LOCATION

Geography

Frequently Asked Questions

The refrigerants market size was valued at USD 22.9 billion in 2022

The refrigerants market key players are: Honeywell International Inc. Arkema Group Mexichem The Chemours Company Linde plc

The refrigerants market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

1. Executive Summary
2. Global Refrigerants Market Introduction 
2.1.Global Refrigerants Market  - Taxonomy
2.2.Global Refrigerants Market  - Definitions
2.2.1.Product Type 
2.2.2.Application
2.2.3.Geography
2.2.4.Region
3. Global Refrigerants Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Refrigerants Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Refrigerants Market  By Product Type , 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Fluorocarbon
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Hydrocarbon
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Inorganic
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Others
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
6. Global Refrigerants Market  By Application, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Industrial Refrigeration
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Domestic Refrigeration
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Transport Refrigeration
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Commercial Refrigeration
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Stationary Air Conditioning, Chillers & Heat Pumps
6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Mobile Air Conditioning
6.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
7. Global Refrigerants Market  By Geography, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Asia Pacific
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Latin America
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Europe
7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Middle East
7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8. Global Refrigerants Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9. North America Refrigerants Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1. Product Type  Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Fluorocarbon
9.1.2.Hydrocarbon
9.1.3.Inorganic
9.1.4.Others
9.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Industrial Refrigeration
9.2.2.Domestic Refrigeration
9.2.3.Transport Refrigeration
9.2.4.Commercial Refrigeration
9.2.5.Stationary Air Conditioning, Chillers & Heat Pumps
9.2.6.Mobile Air Conditioning
9.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.North America
9.3.2.Asia Pacific
9.3.3.Latin America
9.3.4.Europe
9.3.5.Middle East
9.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10. Europe Refrigerants Market,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1. Product Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Fluorocarbon
10.1.2.Hydrocarbon
10.1.3.Inorganic
10.1.4.Others
10.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Industrial Refrigeration
10.2.2.Domestic Refrigeration
10.2.3.Transport Refrigeration
10.2.4.Commercial Refrigeration
10.2.5.Stationary Air Conditioning, Chillers & Heat Pumps
10.2.6.Mobile Air Conditioning
10.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.North America
10.3.2.Asia Pacific
10.3.3.Latin America
10.3.4.Europe
10.3.5.Middle East
10.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11. Asia Pacific (APAC) Refrigerants Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1. Product Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Fluorocarbon
11.1.2.Hydrocarbon
11.1.3.Inorganic
11.1.4.Others
11.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Industrial Refrigeration
11.2.2.Domestic Refrigeration
11.2.3.Transport Refrigeration
11.2.4.Commercial Refrigeration
11.2.5.Stationary Air Conditioning, Chillers & Heat Pumps
11.2.6.Mobile Air Conditioning
11.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.North America
11.3.2.Asia Pacific
11.3.3.Latin America
11.3.4.Europe
11.3.5.Middle East
11.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12. Middle East and Africa (MEA) Refrigerants Market,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1. Product Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Fluorocarbon
12.1.2.Hydrocarbon
12.1.3.Inorganic
12.1.4.Others
12.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Industrial Refrigeration
12.2.2.Domestic Refrigeration
12.2.3.Transport Refrigeration
12.2.4.Commercial Refrigeration
12.2.5.Stationary Air Conditioning, Chillers & Heat Pumps
12.2.6.Mobile Air Conditioning
12.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.North America
12.3.2.Asia Pacific
12.3.3.Latin America
12.3.4.Europe
12.3.5.Middle East
12.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13. Latin America Refrigerants Market,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
13.1. Product Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Fluorocarbon
13.1.2.Hydrocarbon
13.1.3.Inorganic
13.1.4.Others
13.2.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Industrial Refrigeration
13.2.2.Domestic Refrigeration
13.2.3.Transport Refrigeration
13.2.4.Commercial Refrigeration
13.2.5.Stationary Air Conditioning, Chillers & Heat Pumps
13.2.6.Mobile Air Conditioning
13.3.  Geography Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.North America
13.3.2.Asia Pacific
13.3.3.Latin America
13.3.4.Europe
13.3.5.Middle East
13.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Honeywell International Inc.
14.2.2.Arkema Group
14.2.3.Mexichem
14.2.4.The Chemours Company
14.2.5.Linde plc
15. Research Methodology 
16. Appendix and Abbreviations 
  • Honeywell International Inc.
  • Arkema Group
  • Mexichem
  • The Chemours Company
  • Linde plc

Adjacent Markets