Global Refrigerants Market to Reach $36.7 Billion by 2030

"Accelerated Growth in the Global Refrigerants Market Driven by Expanding HVAC and Refrigeration Applications, Regulatory Shifts Under Kigali Amendment and Montreal Protocol, and Rising Demand for Sustainable, Natural Alternatives"

Boston, Sept. 25, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, “Refrigerants: Global Markets” is projected to increase from $27.2 billion in 2025 to $36.7 billion by the end of 2030, at a compound annual growth rate (CAGR) of 6.2% from 2025 through 2030.

This report provides a detailed analysis of the global refrigerant market, examining technological advances, economic factors, and business dynamics. It segments the market by refrigerant type (synthetic and natural), application (AC systems, refrigeration, mobile AC, and chillers), and region (North America, Europe, Asia-Pacific, South America, and MEA). The report also explores supply chain structures, market drivers, regulatory frameworks, ESG developments, and profiles of leading manufacturers, offering insights into current trends and emerging opportunities in the refrigerant industry.

This report is especially relevant now as the HVAC and refrigeration sectors face increasing regulatory pressure to transition from high-global-warming-potential (GWP) refrigerants to more sustainable alternatives. With growing emphasis on environmental standards, newer refrigerants such as hydrofluoroolefins (HFOs) and natural options such as ammonia, CO₂, and propane are gaining traction due to their potential for low ozone depletion. These changes are driving innovation across the pharmaceutical, transportation, and food and beverage industries, where efficient and eco-friendly cooling solutions are critical.

The factors driving the market’s growth include:

Refrigeration and AC Demand: The global rise in urbanization and temperatures is driving demand for refrigeration and air conditioning systems. These are essential for homes, businesses, and industries, especially in food storage and logistics. New technologies and eco-friendly systems are also boosting the use of modern refrigerants.

Pharmaceutical Industry Needs: Pharmaceuticals require strict temperature control for storage and transport, especially for vaccines and biologics. As healthcare expands and regulations tighten, the need for reliable refrigeration systems using advanced refrigerants continues to grow.

Automotive Applications: Vehicles use refrigerants in air conditioning and thermal management systems, especially electric vehicles (EVs) that need battery cooling. With rising EV production and a shift toward greener technologies, the demand for efficient and low-impact refrigerants is increasing.

Request a sample copy of the global market for refrigerants report.

Report Synopsis

Interesting facts:

• Marine Industry Use of Refrigerants: Refrigerants are essential on fishing boats, cruise ships, and cargo ships for chilling and freezing fish, air conditioning, and preserving food. The industry is rapidly shifting toward natural and low GWP refrigerants to reduce environmental impact.

• Aerospace Industry Use of Refrigerants: In spacecraft, refrigerants are used in thermal management systems to regulate temperatures for equipment and crew in extreme space environments. These systems rely on highly specialized refrigerants, with ongoing research focused on improving efficiency and adaptability in space conditions.

Emerging startups:

• Sunswap: Sunswap is a U.K.-based cleantech startup founded in 2020, focused on decarbonizing the global cold chain by developing Endurance, which it claims is the world’s first purpose-built battery and solar-powered transport refrigeration unit. The Endurance system offers a zero-emission alternative to diesel refrigeration units, improving sustainability in refrigerated logistics while maintaining performance and cost efficiency.

• Pascal: Pascal, a Cambridge, Mass-based cleantech startup spun out of Harvard University, is developing a novel class of low-pressure solid refrigerants aimed at transforming the HVAC industry. The Company’s solid refrigerant technology offers zero GWP, improves energy efficiency, and eliminates direct refrigerant emissions, enabling more sustainable, smaller, and quieter heating and cooling systems compatible with existing industrial components.

• Fenagy A/S: Fenagy A/S, founded in 2020 and based in Denmark, specializes in manufacturing large-scale industrial heat pumps and refrigeration systems using natural refrigerants like CO₂ and hydrocarbons. It delivers custom-built, energy-efficient solutions for district heating and industrial applications, emphasizing sustainability, PFAS-free technology, and service support to help decarbonize the energy sector.

The report addresses the following questions:

1. What are the projected market size and growth rate?

• The refrigerants market is projected to reach $36.7 billion by the end of 2030, with a CAGR of 6.2%. The estimated market volume of the refrigerants market will be 4,082.2 kilotons by the end of 2030.

2. Which factors are driving the growth of the market?

• Growing demand for refrigeration and air conditioning.
• Increasing use of refrigerants in the automotive industry.
• Demand for refrigerants in the pharmaceutical industry.

3. What are the challenges and opportunities of the market?

• Toxicity and flammability issues
• Adoption of natural refrigerants.
• Expansion of refrigerants across niche businesses.
• Management and disposal of phase-out of harmful refrigerants.

4. What market segments are covered in the report?

• The refrigerants market is segmented based on type, application, and region. Types include synthetics and natural. Applications include air conditioning (AC) systems, refrigeration system, mobile air conditioning, and chillers. Regions are North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. 

5. Which application segment will be dominant through 2030?

• AC systems will continue to dominate the market through 2030. The rapidly increasing global demand for cooling solutions is driven by rising temperatures, urbanization, and growing middle-class populations, especially in developing economies. The critical nature of refrigerants safety and efficacy, coupled with stringent regulatory standards, necessitates the use of low-GWP refrigerants to minimize environmental impact. 

6. Which region has the largest market share?

• Asia-Pacific holds the largest market share Rapid industrialization, particularly in countries like China, South Korea, Japan, and India, is a primary driver for the Asia-Pacific region’s growth. 

Market leaders include:

• A-GAS INTERNATIONAL LTD.
• ARKEMA
• AGC INC.
• BROTHERS GAS
• DAIKIN INDUSTRIES LTD.
• DONGYUE GROUP
• GUJARAT FLUOROCHEMICALS LTD.
• HARP INTERNATIONAL LTD.
• HONEYWELL INTERNATIONAL INC.
• LINDE PLC
• NATIONAL REFRIGERANTS LTD.
• ORBIA
• SINOCHEM LANTIAN CO. LTD.
• SRF LTD.
• THE CHEMOURS CO.

Purchase a copy of the report direct from BCC Research.

For further information on any of these reports or to make a purchase, please contact info@bccresearch.com.    

About BCC Research

BCC Research market research reports provide objective, unbiased measurement, and assessment of market opportunities. Our experienced industry analysts' goal is to help you make informed business decisions free of noise and hype.

For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.

Any data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.

BCC Research

Corporate HQ: 50 Milk St., Ste. 16, Boston, MA 02109, USA
Email: info@bccresearch.com
Phone: +1 781-489-7301

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.