Refrigerant Market Insights 2025, Analysis and Forecast to 2030, by Manufacturers, Regions, Technology, Application, Product Type

By: HDIN Research Published: 2025-04-13 Pages: 149
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Refrigerant Market Summary
Introduction
Refrigerants are substances used in cooling systems to absorb and release heat, vital for air conditioning, refrigeration, and industrial processes. The market is characterized by its diversity (HCFCs, HFCs, HFOs), regulatory evolution, and focus on energy efficiency. Key drivers include urbanization, food preservation needs, and environmental mandates, with trends shifting toward low-GWP (Global Warming Potential) refrigerants like HFOs and natural alternatives.

Market Size and Growth Forecast
The global Refrigerant market was valued at USD 7.3 billion to USD 9.8 billion in 2024, with an estimated CAGR of 6.0% to 8.0% from 2025 to 2030, driven by regulatory changes and cooling demand.

Regional Analysis
North America grows at 5.5-7.5%, with the USA leading due to regulatory transitions; trends focus on A2L adoption.
Europe achieves a growth rate of 6.0-8.0%, driven by Germany; trends emphasize low-GWP solutions.
Asia Pacific sees a growth rate of 6.5-8.5%, led by China and India; trends highlight urbanization-driven demand.
The Rest of the World records a growth rate of 5.0-7.0%, with Brazil emerging; trends focus on food processing needs.

Application Analysis
Home Air Conditioners and Heat Pumps expand at 6.5-8.5%; they cool residences, with trends favoring energy efficiency.
Appliances grow at 5.5-7.5%; they preserve food, with trends shifting to HFOs.
Automotive rises at 6.0-8.0%; it cools vehicles, with trends focusing on lightweight systems.
Food Processing expands at 5.5-7.5%; it ensures quality, with trends emphasizing cold chain growth.
Commercial Refrigeration grows at 6.0-8.0%; it supports retail, with trends favoring low-GWP refrigerants.
Industrial Refrigeration rises at 5.0-7.0%; it cools processes, with trends focusing on scalability.
Others expand at 5.0-7.0%; they include niche uses, with trends favoring sustainable options.

Type Analysis
HCFCs grow at 2.0-4.0%; they face phase-out, with trends shifting to replacements.
HFCs expand at 4.0-6.0%; they dominate legacy systems, with trends declining due to regulations.
HFOs rise at 8.0-10.0%; they offer low-GWP, with trends driving rapid adoption.

Key Market Players
Chemours, from Wilmington, USA, leads in fluorochemicals, offering refrigerants like HFOs for air conditioning.
Honeywell, based in Charlotte, USA, specializes in advanced refrigerants, crafting HFO blends for appliances.
Daikin, from Osaka, Japan, excels in cooling, producing refrigerants for automotive and commercial use.
Central Glass, headquartered in Tokyo, Japan, focuses on chemicals, offering refrigerants for industrial applications.
Arkema, from Colombes, France, provides specialty chemicals, crafting low-GWP refrigerants for food processing.
Foosung Co. Ltd., based in Seoul, South Korea, specializes in fluorochemicals, offering refrigerants for commercial use.
Koura, from San Luis Potosí, Mexico, focuses on fluorine products, producing refrigerants for diverse applications.

Porter’s Five Forces Analysis
●The threat of new entrants is moderate; high R&D costs deter entry, but demand lowers barriers.
●The threat of substitutes is high; natural refrigerants challenge synthetic options.
●Buyer power is moderate; efficiency drives demand, though regulations influence choice.
●Supplier power is moderate; specialized production creates dependency.
●Competitive rivalry is high; firms innovate with low-GWP solutions.

Market Opportunities and Challenges
Opportunities
●Regulatory shifts boost HFO adoption.
●Urbanization drives cooling demand.
●Food cold chain growth expands market scope.
Challenges
●High costs of new refrigerants limit uptake.
●Regulatory complexity varies by region.
●Legacy system compatibility poses hurdles.

Merger and Acquisition News
A-Gas Expands Capabilities in Canada through Acquisition of Refrigerant Services Inc. (Date: September 2024): This enhances A-Gas’s refrigerant recycling for industrial use.
Hudson Technologies Acquires USA Refrigerants for $20.7M (Date: October 2024): This strengthens Hudson’s supply for commercial refrigeration.
The Arcticom Group Enters Major New Market with Acquisition of Midwest Refrigeration (Date: August 2024): This boosts Arcticom’s refrigerant solutions for food processing.

Growth Trend Analysis
The EPA’s 2025 A2L transition deadline reflects a trend toward low-GWP refrigerants, supporting a projected CAGR of 6.0-8.0% through 2030, driven by regulatory and cooling needs.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Abbreviation and Acronyms
Chapter 3 Preface
3.1 Research Scope
3.2 Research Sources
3.2.1 Data Sources
3.2.2 Assumptions
3.3 Research Method
Chapter 4 Market Landscape
4.1 Market Overview
4.2 Classification/Types
4.3 Application/End Users
Chapter 5 Market Trend Analysis
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Threats
Chapter 6 Industry Chain Analysis
6.1 Upstream/Suppliers Analysis
6.2 Refrigerant Analysis
6.2.1 Technology Analysis
6.2.2 Cost Analysis
6.2.3 Market Channel Analysis
6.3 Downstream Buyers/End Users
Chapter 7 Latest Market Dynamics
7.1 Latest News
7.2 Merger and Acquisition
7.3 Planned/Future Project
7.4 Policy Dynamics
Chapter 8 Historical and Forecast Refrigerant Market in North America (2020-2030)
8.1 Refrigerant Market Size
8.2 Refrigerant Market by End Use
8.3 Competition by Players/Suppliers
8.4 Refrigerant Market Size by Type
8.5 Key Countries Analysis
8.5.1 United States
8.5.2 Canada
8.5.3 Mexico
Chapter 9 Historical and Forecast Refrigerant Market in South America (2020-2030)
9.1 Refrigerant Market Size
9.2 Refrigerant Market by End Use
9.3 Competition by Players/Suppliers
9.4 Refrigerant Market Size by Type
9.5 Key Countries Analysis
9.5.1 Brazil
9.5.2 Argentina
9.5.3 Chile
9.5.4 Peru
Chapter 10 Historical and Forecast Refrigerant Market in Asia & Pacific (2020-2030)
10.1 Refrigerant Market Size
10.2 Refrigerant Market by End Use
10.3 Competition by Players/Suppliers
10.4 Refrigerant Market Size by Type
10.5 Key Countries Analysis
10.5.1 China
10.5.2 India
10.5.3 Japan
10.5.4 South Korea
10.5.5 Southest Asia
10.5.6 Australia
Chapter 11 Historical and Forecast Refrigerant Market in Europe (2020-2030)
11.1 Refrigerant Market Size
11.2 Refrigerant Market by End Use
11.3 Competition by Players/Suppliers
11.4 Refrigerant Market Size by Type
11.5 Key Countries Analysis
11.5.1 Germany
11.5.2 France
11.5.3 United Kingdom
11.5.4 Italy
11.5.5 Spain
11.5.6 Belgium
11.5.7 Netherlands
11.5.8 Austria
11.5.9 Poland
11.5.10 Russia
Chapter 12 Historical and Forecast Refrigerant Market in MEA (2020-2030)
12.1 Refrigerant Market Size
12.2 Refrigerant Market by End Use
12.3 Competition by Players/Suppliers
12.4 Refrigerant Market Size by Type
12.5 Key Countries Analysis
12.5.1 Egypt
12.5.2 Israel
12.5.3 South Africa
12.5.4 Gulf Cooperation Council Countries
12.5.5 Turkey
Chapter 13 Summary For Global Refrigerant Market (2020-2025)
13.1 Refrigerant Market Size
13.2 Refrigerant Market by End Use
13.3 Competition by Players/Suppliers
13.4 Refrigerant Market Size by Type
Chapter 14 Global Refrigerant Market Forecast (2025-2030)
14.1 Refrigerant Market Size Forecast
14.2 Refrigerant Application Forecast
14.3 Competition by Players/Suppliers
14.4 Refrigerant Type Forecast
Chapter 15 Analysis of Global Key Vendors
15.1 Chemours
15.1.1 Company Profile
15.1.2 Main Business and Refrigerant Information
15.1.3 SWOT Analysis of Chemours
15.1.4 Chemours Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.2 Honeywell
15.2.1 Company Profile
15.2.2 Main Business and Refrigerant Information
15.2.3 SWOT Analysis of Honeywell
15.2.4 Honeywell Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.3 Daikin
15.3.1 Company Profile
15.3.2 Main Business and Refrigerant Information
15.3.3 SWOT Analysis of Daikin
15.3.4 Daikin Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.4 Central Glass
15.4.1 Company Profile
15.4.2 Main Business and Refrigerant Information
15.4.3 SWOT Analysis of Central Glass
15.4.4 Central Glass Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.5 Arkema
15.5.1 Company Profile
15.5.2 Main Business and Refrigerant Information
15.5.3 SWOT Analysis of Arkema
15.5.4 Arkema Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.6 Foosung Co. Ltd.Koura
15.6.1 Company Profile
15.6.2 Main Business and Refrigerant Information
15.6.3 SWOT Analysis of Foosung Co. Ltd.Koura
15.6.4 Foosung Co. Ltd.Koura Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.7 AGC Chemicals
15.7.1 Company Profile
15.7.2 Main Business and Refrigerant Information
15.7.3 SWOT Analysis of AGC Chemicals
15.7.4 AGC Chemicals Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.8 Dongyue
15.8.1 Company Profile
15.8.2 Main Business and Refrigerant Information
15.8.3 SWOT Analysis of Dongyue
15.8.4 Dongyue Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.9 Juhua
15.9.1 Company Profile
15.9.2 Main Business and Refrigerant Information
15.9.3 SWOT Analysis of Juhua
15.9.4 Juhua Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.10 3F
15.10.1 Company Profile
15.10.2 Main Business and Refrigerant Information
15.10.3 SWOT Analysis of 3F
15.10.4 3F Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.11 Navin Fluorine International Limited
15.11.1 Company Profile
15.11.2 Main Business and Refrigerant Information
15.11.3 SWOT Analysis of Navin Fluorine International Limited
15.11.4 Navin Fluorine International Limited Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.12 Gujarat Fluorochemicals Limited
15.12.1 Company Profile
15.12.2 Main Business and Refrigerant Information
15.12.3 SWOT Analysis of Gujarat Fluorochemicals Limited
15.12.4 Gujarat Fluorochemicals Limited Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.13 (GFL)
15.13.1 Company Profile
15.13.2 Main Business and Refrigerant Information
15.13.3 SWOT Analysis of (GFL)
15.13.4 (GFL) Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.14 Meilan
15.14.1 Company Profile
15.14.2 Main Business and Refrigerant Information
15.14.3 SWOT Analysis of Meilan
15.14.4 Meilan Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.15 Limin
15.15.1 Company Profile
15.15.2 Main Business and Refrigerant Information
15.15.3 SWOT Analysis of Limin
15.15.4 Limin Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.16 Yonghe
15.16.1 Company Profile
15.16.2 Main Business and Refrigerant Information
15.16.3 SWOT Analysis of Yonghe
15.16.4 Yonghe Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.17 Sinochem Lantian
15.17.1 Company Profile
15.17.2 Main Business and Refrigerant Information
15.17.3 SWOT Analysis of Sinochem Lantian
15.17.4 Sinochem Lantian Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.18 Luxi
15.18.1 Company Profile
15.18.2 Main Business and Refrigerant Information
15.18.3 SWOT Analysis of Luxi
15.18.4 Luxi Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.19 Ruyuan East Sunshine Fluorine Co. Ltd
15.19.1 Company Profile
15.19.2 Main Business and Refrigerant Information
15.19.3 SWOT Analysis of Ruyuan East Sunshine Fluorine Co. Ltd
15.19.4 Ruyuan East Sunshine Fluorine Co. Ltd Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
15.20 Hua'an
15.20.1 Company Profile
15.20.2 Main Business and Refrigerant Information
15.20.3 SWOT Analysis of Hua'an
15.20.4 Hua'an Refrigerant Sales, Revenue, Price and Gross Margin (2020-2025)
Please ask for sample pages for full companies list
Table Abbreviation And Acronyms
Table Research Scope Of Refrigerant Report
Table Data Sources Of Refrigerant Report
Table Major Assumptions Of Refrigerant Report
Table Refrigerant Classification
Table Refrigerant Applications
Table Drivers Of Refrigerant Market
Table Restraints Of Refrigerant Market
Table Opportunities Of Refrigerant Market
Table Threats Of Refrigerant Market
Table Raw Materials Suppliers
Table Different Production Methods Of Refrigerant
Table Cost Structure Analysis Of Refrigerant
Table Key End Users
Table Latest News Of Refrigerant Market
Table Merger And Acquisition
Table Planned/Future Project Of Refrigerant Market
Table Policy Of Refrigerant Market
Table 2020-2030 North America Refrigerant Market Size
Table 2020-2030 North America Refrigerant Market Size By Application
Table 2020-2025 North America Refrigerant Key Players Revenue
Table 2020-2025 North America Refrigerant Key Players Market Share
Table 2020-2030 North America Refrigerant Market Size By Type
Table 2020-2030 United States Refrigerant Market Size
Table 2020-2030 Canada Refrigerant Market Size
Table 2020-2030 Mexico Refrigerant Market Size
Table 2020-2030 South America Refrigerant Market Size
Table 2020-2030 South America Refrigerant Market Size By Application
Table 2020-2025 South America Refrigerant Key Players Revenue
Table 2020-2025 South America Refrigerant Key Players Market Share
Table 2020-2030 South America Refrigerant Market Size By Type
Table 2020-2030 Brazil Refrigerant Market Size
Table 2020-2030 Argentina Refrigerant Market Size
Table 2020-2030 Chile Refrigerant Market Size
Table 2020-2030 Peru Refrigerant Market Size
Table 2020-2030 Asia & Pacific Refrigerant Market Size
Table 2020-2030 Asia & Pacific Refrigerant Market Size By Application
Table 2020-2025 Asia & Pacific Refrigerant Key Players Revenue
Table 2020-2025 Asia & Pacific Refrigerant Key Players Market Share
Table 2020-2030 Asia & Pacific Refrigerant Market Size By Type
Table 2020-2030 China Refrigerant Market Size
Table 2020-2030 India Refrigerant Market Size
Table 2020-2030 Japan Refrigerant Market Size
Table 2020-2030 South Korea Refrigerant Market Size
Table 2020-2030 Southeast Asia Refrigerant Market Size
Table 2020-2030 Australia Refrigerant Market Size
Table 2020-2030 Europe Refrigerant Market Size
Table 2020-2030 Europe Refrigerant Market Size By Application
Table 2020-2025 Europe Refrigerant Key Players Revenue
Table 2020-2025 Europe Refrigerant Key Players Market Share
Table 2020-2030 Europe Refrigerant Market Size By Type
Table 2020-2030 Germany Refrigerant Market Size
Table 2020-2030 France Refrigerant Market Size
Table 2020-2030 United Kingdom Refrigerant Market Size
Table 2020-2030 Italy Refrigerant Market Size
Table 2020-2030 Spain Refrigerant Market Size
Table 2020-2030 Belgium Refrigerant Market Size
Table 2020-2030 Netherlands Refrigerant Market Size
Table 2020-2030 Austria Refrigerant Market Size
Table 2020-2030 Poland Refrigerant Market Size
Table 2020-2030 Russia Refrigerant Market Size
Table 2020-2030 Mea Refrigerant Market Size
Table 2020-2030 Mea Refrigerant Market Size By Application
Table 2020-2025 Mea Refrigerant Key Players Revenue
Table 2020-2025 Mea Refrigerant Key Players Market Share
Table 2020-2030 Mea Refrigerant Market Size By Type
Table 2020-2030 Egypt Refrigerant Market Size
Table 2020-2030 Israel Refrigerant Market Size
Table 2020-2030 South Africa Refrigerant Market Size
Table 2020-2030 Gulf Cooperation Council Countries Refrigerant Market Size
Table 2020-2030 Turkey Refrigerant Market Size
Table 2020-2025 Global Refrigerant Market Size By Region
Table 2020-2025 Global Refrigerant Market Size Share By Region
Table 2020-2025 Global Refrigerant Market Size By Application
Table 2020-2025 Global Refrigerant Market Share By Application
Table 2020-2025 Global Refrigerant Key Vendors Revenue
Table 2020-2025 Global Refrigerant Key Vendors Market Share
Table 2020-2025 Global Refrigerant Market Size By Type
Table 2020-2025 Global Refrigerant Market Share By Type
Table 2025-2030 Global Refrigerant Market Size By Region
Table 2025-2030 Global Refrigerant Market Size Share By Region
Table 2025-2030 Global Refrigerant Market Size By Application
Table 2025-2030 Global Refrigerant Market Share By Application
Table 2025-2030 Global Refrigerant Key Vendors Revenue
Table 2025-2030 Global Refrigerant Key Vendors Market Share
Table 2025-2030 Global Refrigerant Market Size By Type
Table 2025-2030 Refrigerant Global Market Share By Type

Figure Market Size Estimated Method
Figure Major Forecasting Factors
Figure Refrigerant Picture
Figure 2020-2030 North America Refrigerant Market Size And Cagr
Figure 2020-2030 South America Refrigerant Market Size And Cagr
Figure 2020-2030 Asia & Pacific Refrigerant Market Size And Cagr
Figure 2020-2030 Europe Refrigerant Market Size And Cagr
Figure 2020-2030 Mea Refrigerant Market Size And Cagr
Figure 2020-2025 Global Refrigerant Market Size And Growth Rate
Figure 2025-2030 Global Refrigerant Market Size And Growth Rate

Research Methodology

  • Market Estimated Methodology:

    Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach

Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach

Supply approach is based on assessments of the size of each competitor supplying the objective market.

Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

  • Forecasting Methodology
  • Numerous factors impacting the market trend are considered for forecast model:
  • New technology and application in the future;
  • New project planned/under contraction;
  • Global and regional underlying economic growth;
  • Threatens of substitute products;
  • Industry expert opinion;
  • Policy and Society implication.
  • Analysis Tools

1)PEST Analysis

PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

  • Benefits of a PEST analysis:
  • It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
  • It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
  • It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
  • It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.

2)Porter’s Five Force Model Analysis

The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.

  • Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
  • Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
  • Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
  • Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
  • Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis

Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis

SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

  • Strengths describe what the player excels at and separates it from the competition
  • Weaknesses stop the player from performing at its optimum level.
  • Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
  • Threats refer to factors that have the potential to harm the player.
  • Data Sources
Primary Sources Secondary Sources
Face to face/Phone Interviews with market participants, such as:
Manufactures;
Distributors;
End-users;
Experts.
Online Survey
Government/International Organization Data:
Annual Report/Presentation/Fact Book
Internet Source Information
Industry Association Data
Free/Purchased Database
Market Research Report
Book/Journal/News

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