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Part of: Refrigerants Market (Global)

The Australia Refrigerants Market was valued at $60.9 Million in 2024 and projected to reach to $81.4 Million by 2029, representing a compound annual growth rate of CAGR 6.0%. Australia's refrigerants market is positioned for sustained growth through 2029, driven by rising demand in commercial and industrial cooling sectors.

Australia Refrigerants Market (2024-2029) : Size and Share
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Market Size in USD 26.32 MN
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Australia Refrigerants Market Trends and Insights

  • This growth trajectory reflects Australia's increasing demand across cooling and air conditioning applications in both commercial and industrial sectors.
  • Australia's market expansion is driven by regulatory compliance with environmental standards, rising temperatures, and infrastructure development across construction and mining industries. The Australian refrigerants sector is characterized by a shift toward low-global-warming-potential (GWP) alternatives and hydrofluoroolefin (HFO) technologies.
  • Australia's commitment to phasing down high-GWP refrigerants aligns with international environmental protocols, creating opportunities for sustainable cooling solutions.
  • The 6.0% CAGR through 2029 positions Australia as a significant regional market within Asia Pacific, supported by growing demand from food preservation, cold chain logistics, and HVAC applications. Australia's market dynamics are shaped by stringent environmental regulations, technological innovation, and competitive pricing pressures.
  • The forecast period (2024–2029) will see Australia increasingly adopting next-generation refrigerants, with manufacturers investing in localized production and distribution networks to meet regional demand efficiently..

Key Market Statistics

  • CAGR (2024-2029) CAGR 6.0%
  • Market Size, 2024 ~USD 60.9 Million
  • Forecast, 2029 ~USD 81.4 Million
  • Country Australia

Australia Refrigerants Market Overview

Market Valuation :

Australia's refrigerants market is valued at USD 60.9 million in 2024, with strong growth momentum driven by commercial cooling and industrial applications across the country.

Projected Growth :

The market is forecast to reach USD 81.4 million by 2029, representing a steady 6.0% CAGR, outpacing global average growth rates and indicating robust domestic demand.

Regulatory Compliance :

Australia's refrigerants market expansion is significantly driven by strict environmental regulations and compliance with international standards, pushing adoption of eco-friendly refrigerant solutions.

Sector Expansion :

Growth is fueled by increasing demand across commercial HVAC systems, industrial cooling applications, and air conditioning solutions in both urban and regional Australian markets.

Australia Refrigerants Market Dynamics

  • The country's stringent environmental regulations and commitment to phasing out ozone-depleting substances are accelerating the transition to low-GWP and eco-friendly refrigerant alternatives.
  • This regulatory environment creates significant opportunities for manufacturers and suppliers offering compliant solutions. The Australian market benefits from strong infrastructure development, increasing urbanization, and growing industrial activity.
  • Key growth drivers include expansion in data centers, cold chain logistics, and commercial HVAC installations.
  • As businesses prioritize sustainability and energy efficiency, demand for advanced refrigerant technologies continues to rise, positioning Australia as a strategically important market within the Asia-Pacific region..

Related Ecosystem

Industrial Gases

Top Technologies
  • Dry Cooling Tower
  • HVAC System
  • Heat Exchanger
  • Hybrid Cooling Tower
  • Industrial Refrigeration
Top Companies
  • Linde plc
  • Air Products and Chemicals, Inc.
  • MESSER GROUP GMBH
  • AIR LIQUIDE
  • Iwatani Corporation

    Mining Minerals And Metals

    Top Technologies
    • Wastewater Treatment
    • Fiberglass
    • Light Commercial Vehicles (LCVs)
    • Nitrogen
    • Acetic Acid
    Top Companies
    • LHOIST S.A
    • SEVERSTAL JSC
    • ArcelorMittal S.A.
    • TW METALS, INC.
    • Linde plc

      Key Takeaways

      • Australia's refrigerants market is valued at USD 60.9 million in 2024 and is forecast to reach USD 81.4 million by 2029, representing a 6.0% CAGR.
      • Australia is transitioning toward environmentally friendly refrigerants, driven by strict regulatory frameworks and phase-down mandates on high-GWP substances.
      • Australia's market growth is supported by expanding construction, mining, and cold chain logistics sectors requiring advanced cooling solutions.
      • Australia's competitive landscape is intensifying as manufacturers develop low-GWP alternatives and establish regional distribution capabilities to capture market share.

      Refrigerants Market Report Scope

      Report Metric Details
      Base Year 2024
      Forecast Period 2024–2029
      Growth Rate CAGR of 6.5% from 2024 to 2029
      Market Size Base Year (Billions) ~USD 6.98 (2024)
      Revenue Forecast (Billions) ~USD 9.56 (2029)
      Segments Covered Type, Application

      Australia Refrigerants Market Report Segmentation

      2 segment dimensions are covered across the global market.

      By Type

      • Ammonia
      • Carbon Dioxide
      • Hfc & Blends
      • Hfo
      • Isobutane
      • Other Types
      • Propane

      By Application

      • Air Conditioning Systems
      • Chillers
      • Mobile Air Conditioning
      • Refrigeration Systems
      • –Commercial Refrigeration
      • –Domestic Refrigeration
      • –Ducted, Packaged & Rooftop Acs
      • –Industrial Refrigeration
      • –Split Ac
      • –Vrf
      • –Window Ac

      AUSTRALIA: REFRIGERANTS MARKET, BY APPLICATION, 2024–2029

      Segment202420252026202720282029CAGR (%)
      AIR CONDITIONING SYSTEMS25.8927.5129.2531.1333.2835.626.58
      CHILLERS7.648.048.468.99.429.985.47
      MOBILE AIR CONDITIONING0.080.080.090.090.10.15.51
      REFRIGERATION SYSTEMS27.2528.6830.231.8433.7135.745.58
      –COMMERCIAL REFRIGERATION16.121717.9518.9720.1321.395.83
      –DOMESTIC REFRIGERATION1.041.111.181.261.351.456.85
      –DUCTED, PACKAGED & ROOFTOP ACS8.689.099.5410.0210.5611.145.13
      –INDUSTRIAL REFRIGERATION10.0910.5611.0711.6112.2312.95.04
      –SPLIT AC14.6815.7516.918.1619.5821.157.57
      –VRF1.992.12.212.342.492.645.9
      –WINDOW AC0.550.570.60.620.650.684.45
      TOTAL60.8664.316871.9776.581.446

      Target Audience

      • Refrigerant Manufacturers : Manufacturers need Australia-specific market data to understand local demand patterns, regulatory requirements, and competitive landscape for product development and market entry strategies.
      • HVAC & Cooling System Providers : Service providers and equipment manufacturers require insights into Australia's commercial and industrial cooling demand to optimize product offerings and identify growth opportunities.
      • Environmental Compliance Officers : Regulatory and sustainability professionals need detailed information on Australia's environmental standards and refrigerant phase-out timelines to ensure organizational compliance.
      • Investment & Business Strategists : Investors and business development teams require market forecasts and growth projections for Australia to evaluate expansion opportunities and allocate capital effectively.
      • Industrial & Commercial Facility Managers : Facility operators need market intelligence on refrigerant options and trends to make informed decisions about cooling system upgrades and maintenance strategies.

      Key Companies in the Australia Refrigerants Market

      CompanyHQOwnershipStrongest segments
      AIRGAS INCUnited StatesPrivate CompanyHFC & Blends,HFO,Isobutane,
      TRANE TECHNOLOGIES PLCIrelandPublic CompanyAir Conditioning System,Chillers,Refrigeration System,
      CARRIER GLOBAL CORPORATIONUnited StatesPublic CompanyHFC & Blends,HFO,Isobutane & Propane,
      ARKEMAFrancePublic CompanyHFC & Blends,HFO,Isobutane & Propane,
      DONGYUE GROUP LIMITEDChinaPublic CompanyHFC & Blends,HFO,Isobutane,
      HONEYWELL INTERNATIONAL INC.United StatesPublic CompanyHFC & Blends,HFO,Isobutane & Propane,
      THE CHEMOURS COMPANYUnited StatesPublic CompanyHFC & Blends,HFO,Isobutane,
      LINDE PLCUnited KingdomPublic CompanyHFC & Blends,HFO,Isobutane,
      SINOCHEM HONG KONG (GROUP) COMPANY LIMITEDHong KongPrivate CompanyHFC & Blends,HFO,Isobutane,
      DAIKIN INDUSTRIES, LTD.JapanPublic CompanyHFC & Blends,HFO,Isobutane,
      ORBIA ADVANCE CORPORATION, S.A.B. DE C.V.MexicoPublic CompanyHFC & Blends,HFO,Isobutane & Propane,
      AGC INC.United StatesPublic CompanyHFC & Blends,HFO,Isobutane,
      SRF LIMITEDIndiaPublic CompanyHFC & Blends,HFO,Isobutane,
      GUJARAT FLUOROCHEMICALS LIMITEDIndiaPublic CompanyHFC & Blends,HFO,Isobutane,
      NAVIN FLUORINE INTERNATIONAL LIMITEDIndiaPublic CompanyHFC & Blends,HFO,Isobutane & Propane,

      AIRGAS INC

      Airgas Inc. is a private company founded in 1982 in the United States with 17,000 employees. The company operates in the industrial gases and related products sector.

      TRANE TECHNOLOGIES PLC

      Trane Technologies PLC is a public company incorporated in Ireland with a history dating back to 1885 and 44,000 employees. The company provides climate control and building solutions globally.

      CARRIER GLOBAL CORPORATION

      Carrier Global Corporation is a publicly traded U.S. company established in 2019 with 47,000 employees. The company specializes in HVAC, refrigeration, and fire and security solutions.

      ARKEMA

      Arkema is a French public company founded in 2003 with 20,700 employees. The company manufactures specialty chemicals and advanced materials for various industrial applications.

      DONGYUE GROUP LIMITED

      Dongyue Group Limited is a Chinese public company established in 1987 with 6,377 employees. The company operates in the chemical manufacturing sector.

      HONEYWELL INTERNATIONAL INC.

      Honeywell International Inc. is a publicly traded U.S. company with roots dating to 1885 and 101,000 employees. The company provides diversified technology and manufacturing solutions across aerospace, building technologies, and performance materials.

      THE CHEMOURS COMPANY

      The Chemours Company is a U.S. public company founded in 2014 with 5,700 employees. The company manufactures and sells specialty chemicals, including refrigerants and fluoroproducts.

      LINDE PLC

      Linde PLC is a public company incorporated in the United Kingdom with origins tracing to 1879 and 65,034 employees. The company is a leading global supplier of industrial gases and engineering services.

      SINOCHEM HONG KONG (GROUP) COMPANY LIMITED

      Sinochem Hong Kong (Group) Company Limited is a private company established in Hong Kong in 1989. The company operates in the chemical and petrochemical sectors.

      DAIKIN INDUSTRIES, LTD.

      Daikin Industries, Ltd. is a Japanese public company founded in 1924 with 104,095 employees. The company is a global leader in air conditioning, refrigeration, and chemical products.

      ORBIA ADVANCE CORPORATION, S.A.B. DE C.V.

      Orbia Advance Corporation, S.A.B. de C.V. is a Mexican public company established in 1953 with 22,683 employees. The company manufactures and distributes specialty chemicals, polymers, and building solutions.

      AGC INC.

      AGC Inc. is a U.S. public company founded in 1990 with 22,000 employees. The company operates in the specialty chemicals and materials sector.

      SRF LIMITED

      SRF Limited is an Indian public company founded in 1970 with 7,686 employees. The company manufactures specialty chemicals, fluorochemicals, and polymer films.

      GUJARAT FLUOROCHEMICALS LIMITED

      Gujarat Fluorochemicals Limited is an Indian public company established in 1987 with 3,405 employees. The company produces fluorochemicals and related specialty chemicals.

      NAVIN FLUORINE INTERNATIONAL LIMITED

      Navin Fluorine International Limited is an Indian public company founded in 1967 with 1,569 employees. The company manufactures fluorochemicals and specialty chemicals.

      Reasons to Buy this Report

      • Market-Specific Insights : Gain detailed understanding of Australia's unique refrigerants market dynamics, regulatory landscape, and growth drivers specific to the country's commercial and industrial sectors.
      • Accurate Forecasting : Access precise market projections through 2029 with Australia-specific CAGR data, enabling confident strategic planning and investment decisions for the region.
      • Regulatory Intelligence : Understand Australia's environmental compliance requirements and standards that shape refrigerant adoption, helping businesses align products and strategies with local regulations.
      • Competitive Positioning : Identify growth opportunities and market gaps specific to Australia's cooling and air conditioning sectors, enabling targeted market entry and expansion strategies.
      • Investment Validation : Validate investment decisions and business expansion plans in Australia with comprehensive market data, supporting stakeholder confidence and resource allocation.

      Frequently asked questions

      What is the current size of Australia's refrigerants market?

      Australia's refrigerants market was valued at USD 60.9 million in 2024 and is expected to grow to USD 81.4 million by 2029.

      What is the projected growth rate for Australia's refrigerants market?

      Australia's refrigerants market is projected to grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2029.

      Which refrigerant types are most commonly used in Australia?

      Australia is increasingly adopting low-GWP refrigerants and HFO alternatives, while phasing out high-GWP substances in compliance with environmental regulations.

      What are the primary drivers of growth in Australia's refrigerants market?

      Australia's market growth is driven by regulatory compliance, rising temperatures, infrastructure development in construction and mining, and demand for sustainable cooling solutions.

      How does Australia's refrigerants market compare to the Asia Pacific region?

      Australia represents a significant segment within the Asia Pacific refrigerants market, with a 6.0% CAGR positioning it as a key growth market in the region.

      RESEARCH METHODOLOGY

      The study involved four major activities in estimating the market size for refrigerants. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

      Secondary Research

      Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:

      Primary Research

      The Refrigerants market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, medical, construction and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative informations.

      Breakdown of Primary Participants

      Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2023 available in the public domain, product portfolios, and geographical presence.

      Other designations include consultants and sales, marketing, and procurement managers.

      Refrigerants Market

      To know about the assumptions considered for the study, download the pdf brochure

      COMPANY NAME DESIGNATION
      Honeywell International Inc. Director of Marketing
      The Chemours Company Manager- Sales & Marketing
      The Linde Group Sales Manager
      Arkema Production Manager

      Market Size Estimation

      Both top-down and bottom-up approaches were used to estimate and validate the total size of the Refrigerants market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

      • The key players in the industry have been identified through extensive secondary research.
      • The supply chain of the industry has been determined through primary and secondary research.
      • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
      • All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

      Refrigerants Market: Top-Down Approach

      Refrigerants Market

      Data Triangulation

      After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the refrigerants industry.

      Market Definition

      According to the International Institute of Refrigeration, refrigerants are cooling mediums that absorb heat at low temperatures and pressure and release heat at high temperatures and pressure. Fluorocarbons are the most widely used refrigerants in equipment, such as refrigerators and air conditioners. However, due to their high ozone depleting potential (ODP) and global warming potential (GWP), they are being replaced by greener refrigerants such as propane, isobutane, ammonia, and carbon dioxide, among others, such as water and propene.

      Stakeholders

      • Refrigerants Manufacturers
      • Refrigerants Traders, Distributors, and Suppliers
      • End-use Market Participants of Different Segments of Refrigerants
      • Government and Research Organizations
      • Associations and Industrial Bodies
      • Research and Consulting Firms
      • R&D Institutions
      • Environment Support Agencies
      • Investment Banks and Private Equity Firms

      Report Objectives

      • To define, describe, and forecast the refrigerants market in terms of value and volume
      • To provide detailed information regarding the drivers, opportunities, restraints, and challenges influencing market growth
      • To estimate and forecast the market size by type, application, and region
      • To forecast the size of the market for five main regions: Europe, North America, Asia Pacific, South America, and the Middle East & Africa, along with their key countries
      • To strategically analyze micromarkets1 with respect to their growth trends, prospects, and contribution to the overall market
      • To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
      • To analyze competitive developments, such as deals and expansions, in the market
      • To analyze the impact of the recession on the market
      • To strategically profile key players and comprehensively analyze their growth strategies

       

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