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The global refrigerant market was valued at US$ 18.7 Billion in 2022.
We expect the global refrigerant market to exhibit a CAGR of 9.76% during 2023-2028.
The advent of energy-efficient cooling systems across the domestic and industrial sectors, owing to the rising consumer awareness towards the adverse effects of refrigerants on the environment, is primarily driving the global refrigerant market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for refrigerants.
Based on the product type, the global refrigerant market can be bifurcated into fluorocarbon, inorganic, hydrocarbon, and others. Currently, fluorocarbon exhibits a clear dominance in the market.
On a regional level, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global refrigerant market include Honeywell International Inc., Daikin Industries Ltd, Arkema S A, Dongyue Group, The Chemours Company, Orbia Advance Corporation S.A.B. de CV, Sinochem Group, Air Liquide, AGC Group, Linde Group, SRF Limited, Gujarat Fluorochemicals Limited, etc.
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