Refrigerant Market by Type (Chlorofluorocarbons, Hydro Chlorofluorocarbons, Hydrofluorocarbons, Fluorocarbons), by Application (Residential, Commercial, Industrial), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2027

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Refrigerants Market: Summary

The Global Refrigerant Market is estimated to reach USD 21.1 Billion by 2027 at a CAGR of 4.1%, says forencis research (FSR).

Refrigerant is referred to as the compound used in the refrigerators in order to offer cooling effects. It is crucial in the products offering air conditioning, refrigeration, and freezing. These refrigerants work by absorbing the heat from the air entrapped inside the equipment, and transfer it from the low pressure gas to the high-pressure liquid. The components installed in the air conditioning system circulates the refrigerant outside. After this, the refrigerant cools down and turns back into low-pressure gas. Due to its efficient working, it is widely used in residential, commercial and industrial sector.


Refrigerant Market: Drivers & Restraints

Market Drivers:

  • Higher Demand for Chillers and Freezers

The demand for the refrigerant is escalating owing to rising demand for the chillers and freezers which is attributed to the increasing adoption from various industries. Among these, food and beverage sector is emerged as the promising sector, which can be boosting the demand for chillers and freezer. The increasing trend of consuming frozen food by the potential population is expected to foster the chillers and freezer demand. In addition to this, higher preference to ready to eat/drink, and processed food products is further fueling the demand for chillers to increase the shelf life of the products.

  • Growing Demand for an Efficient Cooling Equipment

In industrial sector, the demand for efficient cooling system is increasing. It is crucial in industries to reduce the overall heating of the industrial components and equipment. Rise in manufacturing sector in emerging regions with ongoing industrialization along with higher preference of the prominent industrialists towards cooling system is projected to push the market growth. Increasing preference towards domestic heating equipment is further fostering the market growth in the forecast period.

Market Restraints:

  • Strict Regulation Imposed On the Use High-GWP refrigerants

Chlorofluorocarbon and hydrochlorofluorocarbons are the compounds that are responsible for the emission causing major global concerns: global warming and greenhouse emissions. To overcome this, stringent emission regulation has been imposed by the developing countries. Also, some of the developing and developed countries has taken initiative to phase out the refrigerant with higher global warming potential GWP by 2030 and 2020 to promote environmental health. This is acting a restrain for the market growth.

Refrigerant Market: Key Segments

  • Key Segments by Type: Chlorofluorocarbons, HydroChlorofluorocarbons, Hydrofluorocarbons, Fluorocarbons, Hydrocarbons, Ammonia, Carbon Dioxide, Propane, Iso-Butane and Others
  • Key Segments by Application: Residential, Commercial, Industrial and Transportation and Refrigeration
  • Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa with individual country-level analysis.

Refrigerant Market: Report Scope

The report on the refrigerant market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2020-2027 (2020 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million) Volume (Kiloton)

Segments Included

Type, Application

Regional Coverage

Asia-Pacific, North America, Europe, Middle East & Africa and South America

Key Companies Covered

  • Danfoss (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Linde
  • Honeywell International Inc.
  • Arkema SA
  • DuPont
  • The Chemours Company
  • Air Liquide
  • Dongyue Group
  • Asahi Glass Co, Ltd 
  • Other Key Companies

Refrigerant Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Refrigerant Market, by Type

  • Chlorofluorocarbons
  • HydroChlorofluorocarbons
  • Hydrofluorocarbons
  • Fluorocarbons
  • Hydrocarbons
  • Ammonia
  • Carbon Dioxide
  • Propane
  • Iso-Butane
  • Others

 Refrigerant Market, by Application

  • Residential
  • Commercial
  • Industrial
  • Transportation and Refrigeration

Refrigerant Market, by Region

  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions answered by the report

  • What are the major developments impacting the global market and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key global players operating in the market?
  • How are the major players leveraging in the existing global market conditions?

Report Audience

  • Refrigerant Market Providers
  • Refrigerant Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Refrigerant Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms



1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations


2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation



4.1       Introduction

4.2       Drivers

                                  4.2.1    Higher Demand for Chillers and Freezers

                                  4.2.2    Growing Demand for an Efficient Cooling equipment

4.3       Restraints

                                 4.3.1.    Strict Regulation Imposed On the Use High-GWP refrigerants

4.4       Opportunities

                                 4.4.1.    Advent of Next Generation refrigerant


5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators

6      REFRIGERANT MARKET BY SERVICE, Market Size in USD Million and Kiloton (2019—2027)

6.1       Introduction

6.2       ChloroFluoroCarbons

6.3       HydroChloroFluoroCarbons

6.4       HydroFluoroCarbons

6.5       FluoroCarbons

6.6       HydroCarbons

6.7       Ammonia

6.8       Carbon Dioxide

6.9       Propane

6.10     Iso-Butane

6.11     Others

7      REFRIGERANT MARKET BY APPLICATION, Market Size in USD Million and Kiloton (2019—2027)

7.1       Introduction

7.2       Residential

7.3       Commercial

7.4       Industrial

7.5       Transportation And Refrigeration

8      REFRIGERANT MARKET BY REGION, Market Size in USD Million (2019—2027)

8.1       North America

                                 8.1.1.    US

                                 8.1.2.    Canada

                                 8.1.3.    Mexico

8.2       Europe

                                 8.2.1.    Germany

                                 8.2.2.    France

                                 8.2.3.    Italy

                                 8.2.4.    UK

                                 8.2.5.    Spain

                                 8.2.6.    Rest of Europe

8.3       Asia-Pacific

                                 8.3.1.    China

                                 8.3.2.    Japan

                                 8.3.3.    India

                                 8.3.4.    South Korea

                                 8.3.5.    Rest of Asia-Pacific

8.4       Middle East & Africa

                                 8.4.1.    Saudi Arabia

                                 8.4.2.    UAE

                                 8.4.3.    Rest of Middle East & Africa

8.5       South America

                                 8.5.1.    Brazil

                                 8.5.2.    Argentina

                                 8.5.3.    Rest of South America


9.1       Introduction

9.2       Market Ranking/Share Analysis of Key Companies

9.3       Company Benchmarking


10.1     Danfoss

                                10.1.1    Company Overview

                                10.1.2    Financial Overview

                                10.1.3    Products/Solutions/Services Offered

                                10.1.4    Key Developments

                                10.1.5    SWOT Analysis

10.2     Linde


10.4     Honeywell International Inc.

10.5     Arkema SA

10.6     DuPont

10.7     The Chemours Company

10.8      Air Liquide

10.9     Dongyue Group

10.10  Asahi Glass Co, Ltd 

10.11  Other Key Companies


11.1     Key Industry Expert Insights

11.2     Primary Discussion Guide

11.3     Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain




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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

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Key Questions Answered by the Report

  • Major factors impacting the market and its growth
  • Evolving Types of the various products in the Market
  • Evolving Application of the various products in the Market
  • Growing countries in the Global Market
  • Effects of the developments in the market on the industry and on the market players
  • Key market developments undertaken by the leading players

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