Aerosol Refrigerants Market Size, Share, and Growth Analysis, By Product Type (Steel, Aluminum), By Application (Commercial Refrigeration, Mobile Air Conditioning), By End-Use Industry, By Region - Industry Forecast 2025-2032
Aerosol Refrigerants Market size was valued at USD 1.2 billion in 2023 and is poised to grow from USD 1.25 billion in 2024 to USD 1.77 billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
The global aerosol refrigerants market is primed for growth, driven by increasing demand for HVAC systems, refrigeration, and low-GWP refrigerants amid rising temperatures and urbanization. The shift towards eco-friendly refrigerants, spurred by stringent regulations against high GWP substances, is propelling market expansion, particularly for hydrofluoroolefins (HFOs) and natural alternatives. The booming automotive sector requires advanced air conditioning, further boosting aerosol refrigerant sales. The cold chain logistics industry, essential for preserving temperature-sensitive goods, also plays a significant role in market growth. Innovations spearheaded by companies like Honeywell highlight the trend towards energy-efficient, sustainable refrigerants. However, challenges such as HFC phase-out, safety concerns, and competition from alternative technologies remain pivotal obstacles for industry players. Sustainability practices will be crucial for long-term success in this sector.
Top-down and bottom-up approaches were used to estimate and validate the size of the Aerosol Refrigerants market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Aerosol Refrigerants Market Segments Analysis
Global Aerosol Refrigerants Market is segmented by Product Type, Application, End-Use Industry and region. Based on Product Type, the market is segmented into Steel and Aluminum. Based on Application, the market is segmented into Commercial Refrigeration, Mobile Air Conditioning, Household Refrigeration and Industrial Refrigeration. Based on End-Use Industry, the market is segmented into Automotive, Food & Beverage, Pharmaceuticals and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Aerosol Refrigerants Market
The Aerosol Refrigerants market is driven by an increasing demand from consumers and businesses globally for affordable and easy-to-use refrigerants that facilitate straightforward maintenance and servicing of HVAC systems and appliances. These aerosol refrigerants offer a practical and economical solution for recharging cooling systems, enabling users to perform this task without the need for professional assistance. This trend towards DIY solutions reflects a growing preference for convenience and cost efficiency, propelling the market's expansion as individuals seek accessible methods to ensure the optimal functioning of their cooling devices.
Restraints in the Aerosol Refrigerants Market
The aerosol refrigerants market faces significant restraints, primarily due to the flammability of certain refrigerants. Hydrocarbons, including propane and isobutane, pose a heightened risk of fire hazards, raising safety concerns for end users. This inherent flammability complicates the safe storage, transportation, and application of these substances, leading to the necessity for stringent handling regulations and the use of specialized equipment. As a result, manufacturers and users must navigate these challenges, which can hinder market growth and adoption, as safety concerns remain a top priority in the industry.
Market Trends of the Aerosol Refrigerants Market
The aerosol refrigerants market is witnessing a significant trend towards the development and adoption of low-impact, eco-friendly refrigerants, particularly due to rising environmental regulations and consumer awareness. Key players are heavily investing in research and development of alternatives like hydrofluoroolefins (HFOs), such as R-1234yf, which boast low global warming potential and are non-ozone-depleting. This shift is notably evident in commercial refrigeration and automotive cooling sectors, where sustainability is becoming paramount. As companies aim to mitigate their carbon footprints, the demand for innovative, environmentally responsible aerosol refrigerants is expected to surge, shaping the future landscape of the industry.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Case Studies
Regulatory Landscape
Patent Analysis
Global Aerosol Refrigerants Market Size by Product Type & CAGR (2025-2032)
Market Overview
Steel
Aluminum
Global Aerosol Refrigerants Market Size by Application & CAGR (2025-2032)
Market Overview
Commercial Refrigeration
Mobile Air Conditioning
Household Refrigeration
Industrial Refrigeration
Global Aerosol Refrigerants Market Size by End-Use Industry & CAGR (2025-2032)
Market Overview
Automotive
Food & Beverage
Pharmaceuticals
Others
Global Aerosol Refrigerants Market Size & CAGR (2025-2032)
North America (Product Type, Application, End-Use Industry)
US
Canada
Europe (Product Type, Application, End-Use Industry)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Product Type, Application, End-Use Industry)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Product Type, Application, End-Use Industry)
Brazil
Rest of Latin America
Middle East & Africa (Product Type, Application, End-Use Industry)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Arkema Group (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Honeywell International Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
The Chemours Company (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Daikin Industries, Ltd. (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sinochem Group Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Navin Fluorine International Ltd. (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Dongyue Group (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
SRF Limited (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Groupe Gazechim (France)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Baltic Refrigeration Group (Latvia)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Zhejiang Juhua Co., Ltd. (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mexichem Fluor S.A. de C.V. (Mexico)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Harp International Ltd. (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Linde plc (Ireland)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Tazzetti S.p.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Gas Servei S.A. (Spain)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Refrigerant Solutions Ltd. (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Shandong Yuean Chemical Industry Co., Ltd. (China)