UK Refrigerants Market (2024-2029)
The UK Refrigerants Market was valued at $183.7 Million in 2024 and projected to reach to $247.1 Million by 2029, representing a compound annual growth rate of 6.11%. The UK refrigerants market is poised for steady growth through 2029, supported by stringent environmental regulations and the mandatory transition to low-GWP alternatives.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
UK Refrigerants Market Trends and Insights
- The UK market is driven by regulatory compliance with environmental standards, increasing demand from commercial refrigeration sectors, and the transition toward low-global-warming-potential (GWP) refrigerants.
- The UK's commitment to phasing out high-GWP substances under EU and domestic legislation continues to reshape the competitive landscape and product portfolios across the sector. During the forecast period from 2024 to 2029, the UK refrigerants market will benefit from sustained investment in cold chain infrastructure, food and beverage processing expansion, and HVAC system upgrades in both residential and commercial properties.
- The UK's stringent environmental regulations and growing awareness of climate impact are accelerating adoption of next-generation refrigerants.
- Market participants in the UK are increasingly focusing on innovation and compliance to capture growth opportunities in this evolving regulatory environment..
Key Market Statistics
- CAGR (2024-2029) 6.11% CAGR
- Market Size, 2024 ~USD 183.7 Million
- Forecast, 2029 ~USD 247.1 Million
- Country UK
UK Refrigerants Market Overview
Market Valuation :
The UK refrigerants market is valued at USD 183.7 million in 2024, with a projected growth to USD 247.1 million by 2029, representing a CAGR of 6.11%.
Regulatory Compliance Driver :
UK market growth is significantly driven by strict environmental regulations and the phase-out of high-GWP refrigerants, aligning with EU F-Gas Regulation and UK environmental commitments post-Brexit.
Low-GWP Transition :
Accelerating shift toward low-global-warming-potential refrigerants in UK commercial and industrial sectors, driven by sustainability mandates and corporate environmental responsibility initiatives.
Commercial Refrigeration Demand :
Growing demand from UK retail, food & beverage, and HVAC sectors fueling market expansion, with increased investments in energy-efficient cooling solutions across commercial establishments.
UK Refrigerants Market Dynamics
- Commercial refrigeration sectors, including retail and food processing, are primary growth drivers as businesses upgrade aging systems to comply with UK environmental standards.
- The market will benefit from increased adoption of hydrofluoroolefin (HFO) and hydrocarbon-based refrigerants.
- Investment in sustainable cooling technologies and government incentives for green transitions will further accelerate market expansion.
- However, supply chain challenges and fluctuating raw material costs may present headwinds to growth..
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
- The UK refrigerants market is valued at £183.7 million in 2024 and will reach £247.1 million by 2029, growing at a 6.11% CAGR.
- Regulatory compliance and the phase-out of high-GWP refrigerants are primary drivers of market transformation in the UK.
- The UK market is experiencing strong demand from commercial refrigeration, food processing, and HVAC sectors.
- Innovation in low-GWP and environmentally friendly refrigerant formulations is reshaping competitive dynamics in the UK market.
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 |
UK 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 UK-specific market data to optimize product portfolios, align with low-GWP mandates, and identify growth opportunities in commercial and industrial refrigeration segments.
- HVAC & Cooling System Providers : Require detailed market forecasts and regulatory insights to develop compliant solutions, plan capacity investments, and capture growing demand from UK commercial sectors.
- Retail & Food Service Operators : Need market intelligence on refrigerant options, compliance requirements, and cost implications to make informed decisions on system upgrades and operational sustainability.
- Environmental & Regulatory Consultants : Require comprehensive UK market analysis and regulatory landscape data to advise clients on compliance strategies, technology transitions, and environmental impact mitigation.
- Investment & Strategy Firms : Need accurate UK market sizing, growth projections, and sector dynamics to evaluate investment opportunities, assess portfolio companies, and guide M&A strategies in the refrigerants sector.
Key Companies in the UK 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
- Regulatory Compliance Intelligence : Gain comprehensive insights into UK-specific environmental regulations, F-Gas Regulation requirements, and compliance timelines essential for market participation and risk mitigation.
- Market Sizing & Forecasting : Access precise UK market valuation data (2024-2029) with detailed CAGR analysis to inform strategic planning, investment decisions, and competitive positioning in the region.
- Sector-Specific Demand Analysis : Understand growth drivers across UK commercial refrigeration, retail, food & beverage, and industrial HVAC sectors with actionable insights for targeted market entry strategies.
- Low-GWP Transition Roadmap : Identify opportunities in the accelerating shift toward sustainable refrigerants (HFOs, hydrocarbons) with UK-specific adoption trends and technology advancement forecasts.
- Competitive Landscape Clarity : Benchmark against UK market competitors, understand regional supply chain dynamics, and identify white-space opportunities for product innovation and market expansion.
Frequently asked questions
What is the current size of the UK refrigerants market?
The UK refrigerants market is valued at £183.7 million in 2024 and is expected to grow to £247.1 million by 2029.
What is the growth rate of the UK refrigerants market?
The UK refrigerants market is projected to grow at a compound annual growth rate (CAGR) of 6.11% from 2024 to 2029.
What are the main drivers of growth in the UK refrigerants market?
Key drivers include regulatory compliance with environmental standards, the phase-out of high-GWP refrigerants, expansion of cold chain infrastructure, and increased demand from commercial refrigeration and HVAC sectors in the UK.
Which sectors are driving demand in the UK refrigerants market?
The UK refrigerants market is primarily driven by commercial refrigeration, food and beverage processing, HVAC systems, and cold chain logistics sectors.
How are environmental regulations impacting the UK refrigerants market?
The UK's stringent environmental regulations and commitment to phasing out high-GWP substances are accelerating the adoption of low-GWP and next-generation refrigerants, reshaping product portfolios and competitive dynamics.
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.
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