Product Code: GVR-2-68038-297-6
Refrigerant Market Growth & Trends:
The global refrigerant market size is expected to reach USD 19.64 billion by 2030, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. Development of eco-friendly alternatives, as a result of environmental policies aimed at ozone depletion and GHG emissions, is a key factor driving market growth.
Regulations across EU, Japan, China, and U.S. have prompted consumers to shift toward hydrocarbon and inorganic refrigerants, with its demand predicted to increase drastically over the forecast period. The fluorocarbons segment accounted for over 53.7% of the overall consumption in 2023.
Inorganics emerged as the second-largest product segment in terms of revenue. Thermal efficiency of the product has enabled its penetration across industrial applications. Low cost, easy availability, and eco-friendly characteristics are key factors boosting its demand in industrial areas.
The Asia Pacific market for refrigerants has reported strong demand in recent times. Growth in industrial activity and productivity across China and India will continue to spur demand for refrigeration across residential, industrial, and commercial sectors.
Companies are constantly striving to consolidate their presence through product development, regional expansions, and application diversification strategies. Innovative and cost-effective products that meet both end-user specifications and regulatory standards are key determinants for competitive edge.
Refrigerant Market Report Highlights:
- The United Nations Framework Convention on Climate Change has played a pivotal role in regulating the use of refrigerant products and has compelled industry participants to develop alternative sources
- Europe is the largest consumer, with the mobile air conditioning, industrial, and commercial refrigeration sectors exhibiting strong demand. A standard environmental policy across EU has impelled regional manufacturers to invest extensively in R&D
- The hydrocarbon refrigerant segment is expected to witness a CAGR of 7.1% in terms of volume over the forecast period. Energy efficiency, low cost, and ecofriendly nature of the product are key traits positively influencing demand
- Domestic refrigeration is estimated to emerge as the most promising segment in terms of volume, exhibiting a CAGR of 5.2% over the forecast period.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Refrigerant Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Refrigerant Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Outlook
- 3.2.2. Manufacturing or Technology Oulook
- 3.3. Price Trend Analysis, 2018-2030
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Industry Analysis Tools
- 3.5.1. Porter's Five Forces Analysis
- 3.5.2. Macro-environmental Analysis
Chapter 4. Refrigerant Market: Product Estimates & Trend Analysis
- 4.1. Product Movement Analysis & Market Share, 2023 & 2030
- 4.2. Refrigerant Market Estimates & Forecast, By Product, 2018 to 2030 (Kilotons) (USD Million)
- 4.3. Fluorocarbon
- 4.3.1. Fluorocarbon Refrigerant Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Hydrocarbon
- 4.4.1. Hydrocarbon Refrigerant Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.5. Inorganic
- 4.5.1. Inorganic Refrigerant Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.6. Others Product
- 4.6.1. Other Refrigerants Market Estimates and Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Refrigerant Market: Application Estimates & Trend Analysis
- 5.1. Application Movement Analysis & Market Share, 2023 & 2030
- 5.2. Refrigerant Market Estimates & Forecast, By Application, 2018 to 2030 (Kilotons) (USD Million)
- 5.3. Industrial Refrigeration
- 5.3.1. Refrigerant Market Estimates and Forecasts, by Industrial Refrigeration, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Domestic Refrigeration
- 5.4.1. Refrigerant Market Estimates and Forecasts, by Domestic Refrigeration, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Transport Refrigeration
- 5.5.1. Refrigerant Market Estimates and Forecasts, by Transport Refrigeration, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Commercial Refrigeration
- 5.6.1. Refrigerant Market Estimates and Forecasts, by Commercial Refrigeration, 2018 - 2030 (Kilotons) (USD Million)
- 5.7. Stationary Air Conditioning, Heat Pumps, Chillers
- 5.7.1. Refrigerant Market Estimates and Forecasts, by Stationary Air Conditioning, Heat Pumps, Chillers, 2018 - 2030 (Kilotons) (USD Million)
- 5.8. Mobile Air Conditioner
- 5.8.1. Refrigerant Market Estimates and Forecasts, by Mobile Air Conditioner, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Refrigerant Market: Regional Estimates & Trend Analysis
- 6.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 6.2. North America
- 6.2.1. North America Refrigerant Estimates & Forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2. U.S.
- 6.2.2.1. Key country dynamics
- 6.2.2.2. U.S. Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3. Canada
- 6.2.3.1. Key country dynamics
- 6.2.3.2. Canada Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4. Mexico
- 6.2.4.1. Key country dynamics
- 6.2.4.2. Mexico Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.3. Europe
- 6.3.1. Europe Refrigerant Estimates & Forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.2. Germany
- 6.3.2.1. Key country dynamics
- 6.3.2.2. Germany Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3. UK
- 6.3.3.1. Key country dynamics
- 6.3.3.2. UK Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.4. France
- 6.3.4.1. Key country dynamics
- 6.3.4.2. France Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Asia Pacific Refrigerant Estimates & Forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.2. China
- 6.4.2.1. Key country dynamics
- 6.4.2.2. China Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3. India
- 6.4.3.1. Key country dynamics
- 6.4.3.2. India Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.4. Japan
- 6.4.4.1. Key country dynamics
- 6.4.4.2. Japan Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Central & South America
- 6.5.1. Central & South America Refrigerant Market Estimates & Forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.2. Brazil
- 6.5.2.1. Key country dynamics
- 6.5.2.2. Brazil Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Middles East & Africa Refrigerant Market Estimates & Forecast, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.2. Saudi Arabia
- 6.6.2.1. Key country dynamics
- 6.6.2.2. Saudi Arabia Refrigerant Market estimates & forecast, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Refrigerant Market - Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Share/Position Analysis, 2023
- 7.4. Company Heat Map Analysis
- 7.5. Regional Market Analysis
- 7.6. Strategy Mapping
- 7.7. Company Profiles
- 7.7.1. Honeywell Industries Inc.
- 7.7.1.1. Participant's overview
- 7.7.1.2. Financial performance
- 7.7.1.3. Product benchmarking
- 7.7.1.4. Recent developments
- 7.7.2. Daikin Industries Ltd.
- 7.7.2.1. Participant's overview
- 7.7.2.2. Financial performance
- 7.7.2.3. Product benchmarking
- 7.7.2.4. Recent developments
- 7.7.3. Arkema S A
- 7.7.3.1. Participant's overview
- 7.7.3.2. Financial performance
- 7.7.3.3. Product benchmarking
- 7.7.3.4. Recent developments
- 7.7.4. Dongyue Group
- 7.7.4.1. Participant's overview
- 7.7.4.2. Financial performance
- 7.7.4.3. Product benchmarking
- 7.7.4.4. Recent developments
- 7.7.5. The Chemours Company
- 7.7.5.1. Participant's overview
- 7.7.5.2. Financial performance
- 7.7.5.3. Product benchmarking
- 7.7.5.4. Recent developments
- 7.7.6. Mexichem SAB de CV
- 7.7.6.1. Participant's overview
- 7.7.6.2. Financial performance
- 7.7.6.3. Product benchmarking
- 7.7.6.4. Recent developments
- 7.7.7. Sinochem Group
- 7.7.7.1. Participant's overview
- 7.7.7.2. Financial performance
- 7.7.7.3. Product benchmarking
- 7.7.7.4. Recent developments
- 7.7.8. Linde Group
- 7.7.8.1. Participant's overview
- 7.7.8.2. Financial performance
- 7.7.8.3. Product benchmarking
- 7.7.8.4. Recent developments
- 7.7.9. Air Liquide
- 7.7.9.1. Participant's overview
- 7.7.9.2. Financial performance
- 7.7.9.3. Product benchmarking
- 7.7.9.4. Recent developments
- 7.7.10. SRF Limited
- 7.7.10.1. Participant's overview
- 7.7.10.2. Financial performance
- 7.7.10.3. Product benchmarking
- 7.7.10.4. Recent developments
- 7.7.11. Gujarat Fluorochemicals Limited
- 7.7.11.1. Participant's overview
- 7.7.11.2. Financial performance
- 7.7.11.3. Product benchmarking
- 7.7.11.4. Recent developments
- 7.7.12. Asahi Glass Co., Ltd. (AGC)
- 7.7.12.1. Participant's overview
- 7.7.12.2. Financial performance
- 7.7.12.3. Product benchmarking
- 7.7.12.4. Recent developments