Australia Refrigerants Market (2024-2029)
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 poised for sustained growth through 2029, driven by increasing adoption of energy-efficient cooling technologies and stringent environmental regulations phasing out older refrigerant types.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
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 shaped by stringent environmental regulations and the phase-out of ozone-depleting substances.
- Australia continues to adopt low-global-warming-potential (GWP) refrigerants in alignment with international protocols.
- The market in Australia demonstrates resilience through technological innovation and the transition toward sustainable cooling solutions, positioning the country as a key player in the Asia Pacific refrigerants landscape through 2029..
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 a projected expansion to USD 81.4 million by 2029, representing a steady 6% CAGR over the forecast period.
Regulatory Compliance Driver :
Australia's market growth is significantly driven by strict environmental regulations and compliance with international standards, pushing industries toward eco-friendly refrigerant alternatives and sustainable cooling solutions.
Sector Expansion :
Strong demand across commercial and industrial cooling applications, including air conditioning systems, refrigeration units, and heat pump technologies, is fueling market expansion across diverse sectors.
Growth Trajectory :
Australia's 6% CAGR demonstrates consistent market momentum, slightly below the global average of 6.5%, reflecting localized demand patterns and regulatory implementation timelines specific to the Australian market.
Australia Refrigerants Market Dynamics
- The commercial and industrial sectors are primary growth engines, with businesses investing in modern HVAC systems and refrigeration infrastructure to meet compliance standards and reduce operational costs. The market outlook remains positive as Australia continues to align with global sustainability initiatives and the Montreal Protocol amendments.
- Rising temperatures and climate considerations are accelerating demand for advanced cooling solutions, while government incentives for green technologies further support market expansion.
- Key opportunities exist in retrofitting existing systems and deploying next-generation low-GWP refrigerants across diverse applications..
Related Ecosystem
Industrial Gases
- Dry Cooling Tower
- HVAC System
- Heat Exchanger
- Hybrid Cooling Tower
- Industrial Refrigeration
- Linde plc
- Air Products and Chemicals, Inc.
- MESSER GROUP GMBH
- AIR LIQUIDE
- Iwatani Corporation
Mining Minerals And Metals
- Wastewater Treatment
- Fiberglass
- Light Commercial Vehicles (LCVs)
- Nitrogen
- Acetic Acid
- LHOIST S.A
- SEVERSTAL JSC
- ArcelorMittal S.A.
- TW METALS, INC.
- Linde plc
Key Takeaways
- Australia's refrigerants market is projected to grow from USD 60.9M (2024) to USD 81.4M (2029) at a 6.0% CAGR.
- Australia's regulatory environment prioritizes low-GWP refrigerants and environmental compliance, driving market transformation.
- Rising temperatures and infrastructure expansion in Australia fuel demand for advanced cooling solutions across commercial and industrial sectors.
- Australia's transition to sustainable refrigerants positions the country as a leader in environmentally responsible cooling technologies in Asia Pacific.
Refrigerants Market Report Scope
| Report Metric | Details |
|---|---|
| Base Year | 2024 |
| Fastest Growing Segment | HFO (Type) |
| Forecast Period | 2024–2029 |
| Growth Rate | CAGR of 6.5% from 2024 to 2029 |
| Largest Segment | HFC & BLENDS (Type) |
| 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
- 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
Target Audience
- Refrigerant Manufacturers : Need Australia-specific market data to assess market size, growth potential, and regulatory requirements for product development, market entry strategies, and localized manufacturing or distribution planning.
- HVAC & Cooling System Providers : Require insights into Australian demand patterns, compliance standards, and sector-specific opportunities to optimize product offerings, pricing strategies, and customer acquisition in the commercial and industrial segments.
- Environmental & Compliance Consultants : Need detailed understanding of Australia's regulatory landscape and market drivers to advise clients on refrigerant transitions, compliance pathways, and sustainable cooling technology adoption.
- Industrial & Commercial Facility Managers : Seek market intelligence on refrigerant options, cost trends, and regulatory requirements to make informed decisions about system upgrades, maintenance strategies, and long-term cooling infrastructure investments.
- Investment & Business Development Teams : Require Australia-specific market forecasts and growth analysis to evaluate investment opportunities, identify acquisition targets, and develop expansion strategies within the refrigerants and cooling solutions sector.
Key Companies in the Australia Refrigerants Market
| Company | HQ | Ownership | Strongest segments |
|---|---|---|---|
| AIRGAS INC | United States | Private Company | HFC & Blends,HFO,Isobutane, |
| TRANE TECHNOLOGIES PLC | Ireland | Public Company | Air Conditioning System,Chillers,Refrigeration System, |
| CARRIER GLOBAL CORPORATION | United States | Public Company | HFC & Blends,HFO,Isobutane & Propane, |
| ARKEMA | France | Public Company | HFC & Blends,HFO,Isobutane & Propane, |
| DONGYUE GROUP LIMITED | China | Public Company | HFC & Blends,HFO,Isobutane, |
| HONEYWELL INTERNATIONAL INC. | United States | Public Company | HFC & Blends,HFO,Isobutane & Propane, |
| THE CHEMOURS COMPANY | United States | Public Company | HFC & Blends,HFO,Isobutane, |
| LINDE PLC | United Kingdom | Public Company | HFC & Blends,HFO,Isobutane, |
| SINOCHEM HONG KONG (GROUP) COMPANY LIMITED | Hong Kong | Private Company | HFC & Blends,HFO,Isobutane, |
| DAIKIN INDUSTRIES, LTD. | Japan | Public Company | HFC & Blends,HFO,Isobutane, |
| ORBIA ADVANCE CORPORATION, S.A.B. DE C.V. | Mexico | Public Company | HFC & Blends,HFO,Isobutane & Propane, |
| AGC INC. | United States | Public Company | HFC & Blends,HFO,Isobutane, |
| SRF LIMITED | India | Public Company | HFC & Blends,HFO,Isobutane, |
| GUJARAT FLUOROCHEMICALS LIMITED | India | Public Company | HFC & Blends,HFO,Isobutane, |
| NAVIN FLUORINE INTERNATIONAL LIMITED | India | Public Company | HFC & 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
- Localized Market Intelligence : Gain Australia-specific insights into market size, growth rates, and forecast projections that differ from global trends, enabling precise business planning and investment decisions tailored to the local market.
- Regulatory Landscape Understanding : Understand Australia's unique environmental compliance requirements and regulatory framework driving refrigerant adoption, helping businesses navigate local standards and avoid costly non-compliance issues.
- Sector-Specific Demand Analysis : Access detailed analysis of commercial and industrial cooling demand patterns specific to Australia, identifying high-growth segments and emerging opportunities within the local market.
- Competitive Positioning Strategy : Develop informed competitive strategies based on Australia's market dynamics, customer preferences, and growth drivers, enabling better market entry or expansion planning for refrigerant suppliers and service providers.
- Investment Decision Support : Make data-driven investment and expansion decisions with confidence using Australia-specific market forecasts, valuation metrics, and growth trajectory analysis through 2029.
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 reach USD 81.4 million by 2029.
What is the projected growth rate for Australia's refrigerants market?
Australia's refrigerants market is expected to grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2029.
What are the main drivers of growth in Australia's refrigerants market?
Key drivers include regulatory compliance with environmental standards, rising temperatures, infrastructure development in construction and mining, and the transition to low-GWP refrigerants in Australia.
How does Australia's regulatory environment impact the refrigerants market?
Australia enforces stringent environmental regulations and phase-outs of ozone-depleting substances, mandating the adoption of sustainable, low-global-warming-potential refrigerants across industries.
Which sectors drive demand for refrigerants in Australia?
Commercial air conditioning, industrial cooling, construction, mining, and packaging sectors are primary demand drivers for refrigerants in Australia.
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.
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
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
Get the Full Refrigerants Market Report
Full forecast, segment splits, and company analysis for all Refrigerants Market.
- China Refrigerants Market
- India Refrigerants Market
- Japan Refrigerants Market
- South Korea Refrigerants Market
- Indonesia Refrigerants Market
- Thailand Refrigerants Market
- Malaysia Refrigerants Market
- Canada Refrigerants Market
- Mexico Refrigerants Market
- US Refrigerants Market
- Germany Refrigerants Market
- Russia Refrigerants Market
- Italy Refrigerants Market
- France Refrigerants Market
- UK Refrigerants Market
- Turkey Refrigerants Market
- Spain Refrigerants Market
- Saudi Arabia Refrigerants Market
- UAE Refrigerants Market
- Iran Refrigerants Market
- South Africa Refrigerants Market
- Brazil Refrigerants Market
- Argentina Refrigerants Market
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