Leading Companies Fueling Growth and Innovation in the Refrigerants Market

The refrigerants market is poised for remarkable growth as the world increasingly prioritizes sustainable cooling technologies. With mounting environmental regulations and evolving industrial demands, this sector is set to expand significantly over the coming years. Let's explore the current market size, key players, emerging trends, and segment breakdowns shaping the future of refrigerants.

Significant Expansion Expected in the Refrigerants Market by 2030
The refrigerants market is anticipated to reach a substantial size of $46.65 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 9.6%. This impressive rise during the forecast period is driven by factors such as stricter environmental policies, the expansion of cold chain logistics, increasing demand for energy-efficient cooling systems, the growth of thermal management technologies for electric vehicles, and advancements in next-generation refrigerants. Key trends shaping the market include a growing shift toward low global warming potential (GWP) refrigerants, heightened demand for natural refrigerant types, wider use in cold chain applications, expansion of air conditioning uses, and a gradual transition from hydrofluorocarbons (HFCs) to hydrofluoroolefins (HFOs).

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Top Refrigerants Market Players Leading the Industry
Some of the dominant companies in the refrigerants market include The Chemours Company, Honeywell International Inc., Arkema S.A., Daikin Industries Ltd., Orbia, SRF Limited, AGC Inc., Gujarat Fluorochemicals Limited, Dongyue Group Limited, Sinochem Group Co., Ltd., Zhejiang Juhua Co., Ltd., Meilan Chemical Co., Ltd., TCI Chemicals (India) Pvt. Ltd., Navin Fluorine International Limited, Koura Global plc, Mexichem Fluor S.A. de C.V., Asahi Glass Co., Ltd., Harbin Zhonghao Chemical Co., Ltd., Shandong Dongyue Chemical Co., Ltd., and A-Gas International.

Strategic Acquisition to Boost Refrigerant Supply Capabilities
In June 2024, Hudson Technologies, a chemical manufacturer based in the US, completed the acquisition of USA Refrigerants for $20.7 million. This move aims to enhance Hudson's sourcing of refrigerants by increasing its access to recovered and reclaimed products. As regulatory restrictions tighten and demand for higher-margin reclaimed refrigerants grows, this acquisition positions Hudson to better meet market needs. USA Refrigerants specializes in supplying refrigerants within the United States, making the acquisition a strategic fit.

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Focus on Sustainable and Energy-Efficient Refrigerant Innovations
Leading companies in the refrigerants industry are prioritizing the development of energy-saving, low-GWP refrigeration solutions that utilize natural refrigerants like CO?. This shift supports both sustainability objectives and compliance with stringent environmental regulations. For example, in December 2024, Italy-based Enex Technologies introduced two new natural refrigerant products: SENNA XS and KUBE. The SENNA XS is a compact CO? transcritical booster system with a capacity range of 50 to 400 kW, designed primarily for supermarkets and commercial applications. It offers enhanced efficiency, easier maintenance, and is retrofit-friendly. Meanwhile, the KUBE is a CO? subcritical rack system ranging from 10 to 270 kW, targeting industrial refrigeration with flexible condenser options, strong reliability, and simplified servicing. These systems replace conventional refrigerants with eco-friendly CO?, reducing greenhouse gas emissions while boosting energy efficiency, illustrating Enex's commitment to advancing sustainable cooling technologies.

Core Segmentation of the Global Refrigerants Market
The global refrigerants market is analyzed across several key segments:
1) By Type: Halocarbons, Inorganic refrigerants, Hydrocarbons, and other types
2) By Deployment: Air Conditioning systems and Refrigeration applications
3) By End-Use Sector: Residential, Commercial, Industrial, Automotive, Transport Refrigeration, and other sectors

Further detailed subcategories include:
1) Halocarbons such as Chlorofluorocarbons (CFCs), Hydrochlorofluorocarbons (HCFCs), Hydrofluorocarbons (HFCs), and Hydrofluoroolefins (HFOs)
2) Inorganic refrigerants like Ammonia (NH?), Carbon Dioxide (CO?), and Water (H?O)
3) Hydrocarbons including Propane (R-290) and Isobutane (R-600a)
4) Other varieties comprising blended refrigerants, newly developed low-GWP refrigerants, and natural refrigerants

This detailed segmentation offers a comprehensive view of the market dynamics and product diversity within the global refrigerants industry.

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This release was published on openPR.