Refrigerants Market worth $9.56 billion by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Feb. 18, 2025 /PRNewswire/ -- The report "Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide), Application (Refrigeration System, Air Conditioning System, Chillers, and MAC), and Region(Asia Pacific , North America, Europe, MEA) - Global Forecast to 2029", size was USD 6.99 billion in 2024 and is projected to reach USD 9.56 billion by 2029, at a CAGR of 6.5%, between 2024 and 2029.

Browse in-depth TOC on "Refrigerants Market"
340 – Tables
57 – Figures
310 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1082

Refrigerants are used to generate a cooling effect in the air conditioning and refrigeration systems industry. They are used in equipment such as freezers, refrigerators, air conditioners, and heating units. Based on their chemical composition, the commonly used refrigerants are HCFCs, HFCs, HFOs, HCs, ammonia, carbon dioxide, and water. In general, refrigerants find application in domestic, commercial, and industrial refrigeration; chillers; window, split, variable refrigerant flow, and other types of air conditioning systems; and mobile air conditioning.

HFC & Blends segment to account for fastest growing segment, in terms of value, of the global refrigerants market during the forecast period.

The rising demand from the increasing population, accompanied by the development of new technologies and products, is projected to make this region an ideal destination for the HFC & blends segment. Improved lifestyles, increasing cost of living, and the multiplying population will help industries such as refrigeration and air conditioning flourish in developing regions, thereby supporting the demand for HFC & blends. The growing HVAC and automotive sectors, particularly in emerging economies like India and China, are driving the demand for air conditioning and refrigeration, where HFCs remain widely used. Despite ongoing global efforts to phase out high-GWP refrigerants, HFCs continue to be essential due to their energy efficiency, safety, and compatibility with current refrigeration systems.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1082

Refrigeration System segment to account for fastest growing segment, in terms of value, of the global refrigerants market during the forecast period.

The rapid urbanization rate and emerging industries in the emerging economic region are increasing the demand for refrigeration systems. China being a global manufacturing base, generates high demand for refrigerants in commercial refrigeration systems. Similarly, other major economies in the Asia Pacific region, such as India, Japan, and South Korea, are also driving refrigerant demand in this application. This application is further divided into three major categories domestic refrigeration, industrial refrigeration, and commercial refrigeration. The growth of e-commerce and online grocery delivery services has further fueled the demand for efficient refrigeration units, especially in developing markets where cold chain infrastructure is expanding.

Asia Pacific is expected to be the fastest-growing region, in the overall refrigerants market, during the forecast period.

The increasing demand for consumer appliances in the growing economies of Asia Pacific, such as China, India, and Thailand, along with the growing cold chain network in well-established markets of North America and Europe, is driving the refrigerants market. As this market is highly regulated, fluorocarbon refrigerants are expected to decline in their market share. This is likely to act as an opportunity for manufacturers of natural refrigerants.

Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=1082

The key players in this market are Arkema S.A. (France), Daikin Industries Ltd. (Japan), Honeywell International Inc. (US), The Chemours Company (US), The Linde Group (Dublin), and Air Liquide (France).

Get access to the latest updates on Refrigerants Companies and Refrigerants Market Size

Browse Adjacent Market: Mining, Minerals and Metals Market Research Reports & Consulting

Related Reports:

Low GWP Refrigerants Market - Global Forecast to 2023

Commercial Refrigeration Market - Global Forecast to 2028

Heavy Construction Equipment Market - Global Forecast to 2028

Squalene Market - Global Forecast to 2028

Polyurethane Foam Market - Global Forecast to 2028

Polyamide Market - Global Forecast to 2028

Personal Protective Equipment Market - Global Forecast to 2028

About MarketsandMarkets™ 

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1868219/MarketsandMarkets_Logo.jpg