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Part of: Refrigerants Market (Global)

The Canada Refrigerants Market was valued at $199.2 Million in 2024 and projected to reach to $278 Million by 2029, representing a compound annual growth rate of 6.89%. Canada's refrigerants market is positioned for sustained expansion through 2029, driven by regulatory mandates favoring low-GWP and zero-ODP refrigerants.

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

  • This growth trajectory reflects Canada's increasing demand across HVAC, commercial refrigeration, and industrial cooling applications.
  • Canada's market expansion is driven by regulatory compliance with environmental standards, modernization of cooling infrastructure, and rising adoption of low-GWP refrigerants in response to climate commitments. The Canadian refrigerants sector benefits from strong industrial activity in construction, mining, and food processing industries.
  • Canada's commitment to phasing down high-GWP refrigerants under federal regulations accelerates the transition to sustainable alternatives.
  • Market participants in Canada are investing in next-generation refrigerant technologies to meet both regulatory requirements and customer demand for energy-efficient solutions..

Key Market Statistics

  • CAGR (2024-2029) 6.89% CAGR
  • Market Size, 2024 ~USD 199.2 Million
  • Forecast, 2029 ~USD 278 Million
  • Country Canada

Canada Refrigerants Market Overview

Market Valuation :

Canada's refrigerants market is valued at USD 199.2 million in 2024, with strong growth momentum driven by HVAC modernization and commercial cooling demand across the country.

Robust Growth Trajectory :

The Canadian market is projected to reach USD 278.0 million by 2029, representing a CAGR of 6.89%, outpacing the global average of 6.5% and indicating accelerating regional adoption.

Regulatory Compliance Driver :

Canada's stringent environmental regulations and phase-out of ozone-depleting substances are accelerating the transition to eco-friendly refrigerants, creating significant market opportunities for compliant solutions.

Diverse Application Base :

Growth is fueled across multiple sectors including HVAC systems, commercial refrigeration, industrial cooling applications, and cold chain logistics, reflecting Canada's diverse economic landscape.

Canada Refrigerants Market Dynamics

  • The modernization of aging HVAC infrastructure in commercial and residential sectors, combined with increased cold chain requirements from food and pharmaceutical industries, will propel market growth.
  • Additionally, Canada's commitment to climate goals and alignment with international environmental protocols will continue to incentivize adoption of advanced refrigerant technologies. The competitive landscape in Canada is characterized by growing demand for natural refrigerants and synthetic alternatives that meet stringent environmental standards.
  • Investment in R&D for next-generation cooling solutions, coupled with rising energy efficiency awareness among Canadian businesses, will create lucrative opportunities for market participants.
  • Strategic partnerships between refrigerant manufacturers and HVAC service providers will further accelerate market penetration across urban and industrial regions..

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

      • Canada's refrigerants market is valued at USD 199.2 million in 2024 and will reach USD 278.0 million by 2029, representing a 6.89% CAGR.
      • Regulatory phase-down of high-GWP refrigerants in Canada is accelerating adoption of low-GWP and natural refrigerant alternatives.
      • Canada's construction, mining, and food processing sectors drive significant demand for commercial and industrial refrigeration solutions.
      • Energy efficiency and sustainability initiatives in Canada are reshaping product portfolios toward environmentally compliant refrigerant technologies.

      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

      Canada 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

      CANADA: REFRIGERANTS MARKET, BY APPLICATION, 2024–2029

      Segment202420252026202720282029CAGR (%)
      AIR CONDITIONING SYSTEMS18.519.520.6121.8723.2924.866.09
      CHILLERS5.695.976.296.657.067.515.72
      MOBILE AIR CONDITIONING62.3666.7671.777.2883.6190.697.78
      REFRIGERATION SYSTEMS112.67119.28126.68135.02144.47154.956.58
      –COMMERCIAL REFRIGERATION42.3245.1948.4252.0556.1760.767.5
      –DOMESTIC REFRIGERATION3.473.693.954.234.564.927.23
      –DUCTED, PACKAGED & ROOFTOP ACS15.4316.2217.0918.0819.1920.425.76
      –INDUSTRIAL REFRIGERATION66.8870.3974.3278.7483.7489.275.94
      –SPLIT AC1.751.892.062.242.452.688.95
      –VRF0.690.730.770.820.880.956.58
      –WINDOW AC0.630.660.690.730.770.815.16
      TOTAL199.22211.51225.28240.82258.43278.016.89

      Target Audience

      • HVAC Manufacturers & Distributors : Need detailed Canadian market insights to optimize product portfolios, align with regulatory requirements, and identify growth opportunities in residential and commercial HVAC segments.
      • Refrigerant Producers & Suppliers : Require market-specific data to assess demand trends, competitive landscape, and regulatory compliance pathways for launching or expanding refrigerant product lines in Canada.
      • Commercial Refrigeration Operators : Seek market intelligence on refrigerant options, cost trends, and compliance requirements to optimize cooling system efficiency and reduce operational expenses across Canadian facilities.
      • Industrial & Cold Chain Logistics Companies : Need forecasts and market analysis to plan refrigerant procurement strategies, upgrade cooling infrastructure, and ensure compliance with evolving Canadian environmental standards.
      • Investment & Strategy Consultants : Require comprehensive Canadian market data to advise clients on market entry, M&A opportunities, and strategic positioning within the growing refrigerants sector.

      Key Companies in the Canada 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 Sizing & Forecasts : Access precise valuation data for Canada's refrigerants market (USD 199.2M in 2024) with detailed 5-year forecasts, enabling accurate budgeting and investment planning tailored to the Canadian market.
      • Regulatory Landscape Intelligence : Understand Canada-specific environmental regulations, compliance requirements, and phase-out timelines that directly impact product development, market entry strategies, and competitive positioning.
      • Sector-Specific Growth Drivers : Identify high-growth segments within Canada including HVAC modernization, commercial refrigeration expansion, and cold chain logistics, with actionable insights for targeted market penetration.
      • Competitive Positioning Strategy : Benchmark against Canadian market dynamics and competitor activities to develop differentiated go-to-market strategies, pricing models, and partnership approaches specific to the region.
      • Risk Mitigation & Opportunity Assessment : Evaluate Canada-specific market risks, regulatory changes, and emerging opportunities to make informed decisions on product portfolio optimization and geographic expansion priorities.

      Frequently asked questions

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

      Canada's refrigerants market was valued at USD 199.2 million in 2024 and is projected to grow to USD 278.0 million by 2029.

      What is the expected growth rate for Canada's refrigerants market?

      Canada's refrigerants market is expected to grow at a compound annual growth rate (CAGR) of 6.89% from 2024 to 2029.

      Which industries drive refrigerant demand in Canada?

      Canada's refrigerant demand is primarily driven by HVAC systems, commercial refrigeration, construction, mining, and food processing industries.

      What regulatory factors influence Canada's refrigerants market?

      Canada's federal regulations mandate the phase-down of high-GWP refrigerants, driving market transition toward low-GWP and natural refrigerant alternatives.

      What types of refrigerants are gaining traction in Canada?

      Low-GWP synthetic refrigerants, hydrofluoroolefins (HFOs), and natural refrigerants such as hydrocarbons and CO2 are gaining adoption in Canada due to environmental regulations.

      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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