Refrigerants Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Refrigerants Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Expected Refrigerants Market Size During the Forecast Period?
In recent years, there has been a robust expansion in the refrigerants market size. The market is predicted to escalate from a worth of $27.22 billion in 2024 to an estimated $29.71 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.1%. This growth during the historic period is largely due to robust economic development in emerging markets, favorable government policies, and a surge in demand for air conditioners.

Anticipated to witness a swift expansion in the next few years, the size of the refrigerants market is projected to reach $43.91 billion by 2029, escalating at a compound annual growth rate (CAGR) of 10.3%. Growth triggers during this forecast period include the discontinuation of substances depleting the ozone layer, heightened urbanization, increasing global temperatures, and an escalating demand for electric cars. Key trends shaping this forecast period will involve the cessation of ozone-damaging substances, elevated rates of urbanization, increasing worldwide temperatures, and the surging demand for electric vehicles.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=5290

What Are the High-Growth Segments in the Refrigerants Market?
The refrigerants market covered in this report is segmented -

1) By Type: Halocarbons, Inorganic, Hydrocarbons, Other Types
2) By Deployment: Air Conditioning, Refrigeration, Other Applications

Subsegments:
1) By Halocarbons: Chlorofluorocarbons (CFCs), Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), Hydrofluoroolefins (HFOs)
2) By Inorganic: Ammonia (NH3), Carbon Dioxide (CO2), Water (H2O)
3) By Hydrocarbons: Propane (R-290), Isobutane (R-600a), Ethane
4) By Other Types: Blended Refrigerants, New Low-GWP (Global Warming Potential) Refrigerants, Natural Refrigerants

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5290&type=smp

What Key Drivers Are Expected to Influence Future Refrigerants Market Growth?
The surge in the need for air conditioning is anticipated to fuel the expansion of the refrigerants market in the upcoming years. The rise in global temperature has boosted the demand for cooling systems. Based on the World Meteorological Organization (WMO) data, the average global temperature in 2020 was 1.2 °C more than the record pre-industrial era (1880) temperatures. This in turn enhances the need for air conditioning, and consequently, refrigerants. A refrigerant is a substance found in air conditioners that absorbs heat from the environment, and after going through an air conditioning system which includes evaporators, it discharges cooled air. For example, as per the International Energy Agency (IEA) projections, by 2050, air conditioners are expected to be found in two-thirds of households worldwide. Emerging economies, like India, China, and Indonesia, would represent half of all air conditioners. Hence, the rising global temperature amplifies the demand for air conditioning and is likely to drive the refrigerants market.

Which Companies Hold the Largest Share Across Different Refrigerants Market Segments?
Major companies operating in the refrigerants market include The Chemours Company, The Linde Group, Dongyue Group, Honeywell International Inc, Arkema S A, Orbia, SRF Limited, Asahi Glass Co Inc (AGC), Gujarat Fluorochemicals Ltd., Daikin Industries Ltd, Zhejiang Fotech International Co.Ltd., Changshu 3F Zhonghao New Chemical Materials Co. Ltd., Tazzetti S.p.A, AGC Inc., Sinochem Group Co. Ltd., GEA Group AG, Frigopoint, Quimobásicos, S.A. De C.V., Grupo CLIMSA, Mexichem Flúor S.A. de C.V., DuPont, Hudson Technologies, National Refrigerants Inc, The Bluon Energy, Cheminova Brasil Ltda, Climafrío S.A.S, Gulf Cryo, Abdullah Hashim Industrial Gases & Equipment Co. Ltd, National Gas Company (NGC), Tasqeef, AIR LIQUIDE SA, Hychill, A-gas International

What Trends Are Expected to Dominate the Refrigerants Market in the Next 5 Years?
Environmental concerns are prompting refrigerants market players to transition towards low global warming potential (GWP) refrigerants. Measures like the Kigali Amendment to the Montreal Protocol are pushing for the phasing out of high-GWP refrigerants such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs). Companies are therefore embracing refrigerants with a lower global warming potential. For instance, in May 2022, AGC, a leading global manufacturer of glass, chemicals, and high-tech materials in Japan, created a new variant of AMOLEA 1123 (HFO-1123) based refrigerant, whose GWP is under 10, for air conditioners. In a similar vein, in January 2022, the American multinational behemoth, Honeywell, unveiled Solstice N71 (R-471A), an innovative, new low-GWP refrigerant for commercial and industrial refrigeration designed specifically for supermarkets.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/refrigerants-global-market-report

What Are the Emerging Geographies for The Refrigerants Market Growth?
Asia-Pacific was the largest region in the refrigerants market in 2024. Asia-Pacific is predicted to record the fastest growth in the refrigerants market in the forecast period. The regions covered in the refrigerants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Refrigerants Market?
2. What is the CAGR expected in the Refrigerants Market?
3. What Are the Key Innovations Transforming the Refrigerants Industry?
4. Which Region Is Leading the Refrigerants Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.