The global market for refrigerants was valued at $25.9 billion in 2024 and is estimated to increase from $27.2 billion in 2025 to reach $36.7 billion by 2030, at a compound annual growth rate (CAGR) of 6.2% from 2025 through 2030.
The synthetic market for refrigerants was valued at $16.6 billion in 2024 and is estimated to increase from $17.3 billion in 2025 to reach $22.1 billion by 2030, at a CAGR of 5% from 2025 through 2030.
The natural market for refrigerants was valued at $9.2 billion in 2024 and is estimated to increase from $9.8 billion in 2025 to reach $14.6 billion by 2030, at a CAGR of 8.2% from 2025 through 2030.
Report Scope
This report provides an analysis of market trends in the global refrigerant market. This report includes the refrigerant industry's technological, economic and business evaluations and provides forecasts of global markets. The report discusses the market forces, the leading manufacturers and emerging opportunities. All market value estimates are based on an analysis of multiple factors and manufacturer revenues, offering insight into the refrigerant industry. The report segments the market by type, application and region:
Type: synthetic (hydrofluoroolefins, hydrofluorocarbons, hydrochlorofluorocarbons and others) and natural (ammonia, CO2, propane, isobutane and others).
Application: air conditioning (AC) systems (split AC, window AC, variable refrigerant flow [VRF]), refrigeration systems (industrial, commercial [retail food, commercial properties, and other], domestic), mobile AC, chillers and others.
Region: North America, Europe (including the Netherlands, Poland and Belgium), Asia-Pacific, South America, the Middle East and Africa (MEA).
The report analyzes the supply chain for the industry as well as the drivers and regional forces of the refrigerant market. This report includes forecasts for the market's growth from 2025 to 2030. It includes profiles of leading manufacturers, ESG developments, the competitive landscape, and regulatory aspects, both international and regional.
Report Includes
204 data tables and 50 additional tables
An overview of the global market for refrigerants
In-depth analysis of global market trends, featuring historical revenue data for 2024, estimated figures for 2025, and forecasts for 2029. This analysis includes projections of compound annual growth rates (CAGRs) through 2030
Evaluation of the current market size and revenue growth prospects specific to the refrigerants, accompanied by a market share analysis by region, type and application
Analysis of current and future demand in the global refrigerants market, along with a detailed analysis of the competitive environment, market regulations and reimbursement practices
Analysis of drivers, challenges and opportunities affecting market growth
Discussion on preference of greener refrigerants such as ammonia, isobutene, propane and carbon dioxide, over fluorocarbon refrigerants due to high ozone-depleting potential (ODP) and global warming potential (GWP)
Review of patent grants for innovations related to the refrigerant industry across major categories
Impact analysis of AI adoption on the refrigerants market, including case studies, disruption trends, and market spending and investment scenario
Coverage of evolving technologies, the current and future market potential, R&D activities, growth strategies, new product pipeline, regulatory framework and reimbursement scenarios, and ESG trends
Market share analysis of the key market participants in the refrigerant market, along with their research priorities, product portfolios, global rankings and competitive landscape
Company profiles of major players within the industry, including Daikin Industries Ltd., Linde plc., AGC Inc., The Chemours Co., Honeywell International Inc., Orbia, and Arkema
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Technological Advances and Applications
Market Dynamics and Growth Factors
Future Trends and Developments
Segmental Analysis
Regional and Emerging Markets
Conclusion
Chapter 2 Market Overview
Market Definition
Classification of Refrigerants
Based on Flammability
Based on the Boiling Point
Types of Refrigerants
Primary Refrigerants
Secondary Refrigerants
Supply Chain Analysis
Raw Materials and Suppliers
Manufacturing and Processing
Distribution and Sales
End Users
Import-Export Analysis
Impact of the U.S. Tariffs
Chapter 3 Market Dynamics
Market Dynamics
Highlights
Market Drivers
Growing Demand for Refrigeration and AC
Demand for Refrigerants in the Pharmaceutical Industry
Use of Refrigerants in the Automotive Industry
Market Restraints
Costs Associated with Low-GWP Refrigerants and Retrofitting
Environmental and Safety Regulations
Market Challenges
Toxicity and Flammability Issues
Management and Disposal of Harmful Refrigerants
Market Opportunities
Adoption of Natural Refrigerants
Refrigerants in Niche Businesses
Chapter 4 Regulatory Landscape
Regulatory Scenario
Regulations
Montreal Protocol
Kigali Amendment
F-Gas Regulation
Chapter 5 Emerging Technologies and Developments
New Technologies
Shift Toward Low-GWP Refrigerants
Alternative Cooling Technologies
Refrigerant Recycling
Next-Generation Natural Refrigerants
Solid-State Cooling
Patent Analysis
Chapter 6 Market Segment Analysis
Segmentation Breakdown
Takeaways
Market Analysis, by Type
Synthetic Refrigerants
Natural Refrigerants
Market Analysis, by Application
AC Systems
Refrigeration Systems
Mobile AC Systems
Chillers
Other Refrigeration Systems
Geographic Breakdown
Takeaways
Market Analysis, by Region
North America
Asia-Pacific
Europe
Middle East and Africa
South America
Chapter 7 Competitive Intelligence
Industry Structure
Company Share Analysis
Daikin Industries Ltd.
Linde Plc
AGC Inc.
The Chemours Company
Honeywell International Inc.
Strategic Analysis
Mergers and Acquisitions (M&A)
Expansions, Partnerships and Product Developments
Mergers and Acquisitions (M&A)
Chapter 8 Sustainability in the Refrigerant Industry: ESG Perspective