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Part of: Refrigerants Market (Global)

The Indonesia Refrigerants Market was valued at $77.5 Million in 2024 and projected to reach to $106.3 Million by 2029, representing a compound annual growth rate of 6.51%. Indonesia's refrigerants market is positioned for sustained expansion through 2029, driven by rapid urbanization, growing commercial infrastructure, and increasing consumer demand for air conditioning and cold chain logistics.

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

  • This growth trajectory reflects Indonesia's increasing demand for cooling solutions across commercial, industrial, and residential sectors, driven by rising temperatures, urbanization, and economic development.
  • Indonesia's refrigerants sector is benefiting from growing investments in cold chain infrastructure, air conditioning adoption, and food preservation technologies essential for the nation's expanding middle class. The Indonesian refrigerants market is shaped by regulatory shifts toward environmentally friendly alternatives, as the country aligns with global phasedown commitments on ozone-depleting substances.
  • Indonesia's manufacturing base and construction boom are creating sustained demand for refrigeration systems in retail, hospitality, and food processing industries.
  • With a compound annual growth rate of 6.51% through 2029, Indonesia represents a significant growth opportunity within the Asia Pacific refrigerants landscape, supported by improving supply chains and rising consumer awareness of energy-efficient cooling technologies..

Key Market Statistics

  • CAGR (2024-2029) 6.51% CAGR
  • Market Size, 2024 ~USD 77.5 Million
  • Forecast, 2029 ~USD 106.3 Million
  • Country Indonesia

Indonesia Refrigerants Market Overview

Market Valuation :

Indonesia's refrigerants market is valued at USD 77.5 million in 2024, with strong growth momentum driven by increasing cooling demand across commercial, industrial, and residential applications.

Robust Growth Trajectory :

The market is projected to reach USD 106.3 million by 2029, representing a CAGR of 6.51%, outpacing global growth rates and indicating accelerating adoption of refrigeration technologies in Southeast Asia.

Urbanization & Economic Drivers :

Rising urbanization, expanding middle-class populations, and increased foreign direct investment in Indonesia are fueling demand for modern cooling solutions in retail, hospitality, and manufacturing sectors.

Climate & Temperature Factors :

Indonesia's tropical climate and rising ambient temperatures necessitate enhanced refrigeration infrastructure, creating sustained demand for efficient refrigerant solutions across all consumer and industrial segments.

Indonesia Refrigerants Market Dynamics

  • The country's strategic location as a regional manufacturing hub and rising middle-class consumption patterns are accelerating refrigeration adoption across retail, food processing, and pharmaceutical sectors.
  • Government initiatives supporting industrial development and infrastructure modernization further support market growth.
  • However, regulatory shifts toward environmentally-friendly refrigerants and phase-out of high-GWP substances present both challenges and opportunities for market participants to innovate and transition toward sustainable cooling solutions..

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

      • Indonesia's refrigerants market is valued at USD 77.5 million in 2024 and is forecast to reach USD 106.3 million by 2029, representing a 6.51% CAGR.
      • Indonesia's rapid urbanization and rising middle-class consumption are driving demand for air conditioning and cold chain infrastructure across commercial and residential sectors.
      • Indonesia is transitioning toward low-GWP and ozone-safe refrigerants in compliance with international environmental regulations and Montreal Protocol commitments.
      • Indonesia's food processing, retail, and hospitality industries are key demand drivers, supported by expanding manufacturing and construction activities.

      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

      Indonesia 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

      INDONESIA: REFRIGERANTS MARKET, BY APPLICATION, 2024–2029

      Segment202420252026202720282029CAGR (%)
      AIR CONDITIONING SYSTEMS37.5339.8942.4445.1948.3351.776.65
      CHILLERS5.966.276.616.967.377.815.56
      MOBILE AIR CONDITIONING15.3116.2817.3218.4419.7221.126.64
      REFRIGERATION SYSTEMS18.7319.8721.122.4323.9425.596.44
      –COMMERCIAL REFRIGERATION6.67.047.528.048.649.297.09
      –DOMESTIC REFRIGERATION3.343.583.844.124.444.797.5
      –DUCTED, PACKAGED & ROOFTOP ACS3.854.014.194.384.594.824.64
      –INDUSTRIAL REFRIGERATION8.799.259.7410.2610.8611.515.52
      –SPLIT AC32.6834.8337.1539.6642.5245.656.91
      –VRF0.920.971.021.081.141.215.53
      –WINDOW AC0.070.080.080.080.090.094.03
      TOTAL77.5382.3287.4793.0299.36106.36.51

      Target Audience

      • Refrigerant Manufacturers : Manufacturers need Indonesia-specific market data to assess production capacity requirements, identify distribution channels, and develop localized product portfolios aligned with regional demand and regulatory standards.
      • HVAC & Cooling Equipment Suppliers : Equipment suppliers require market insights to forecast refrigerant consumption patterns, optimize supply chain logistics, and align product offerings with Indonesia's growing commercial and industrial cooling infrastructure.
      • Distributors & Wholesalers : Distribution partners need market sizing and growth projections to plan inventory levels, identify high-demand regions within Indonesia, and capitalize on emerging opportunities in underserved markets.
      • Investment & Private Equity Firms : Investors evaluating Indonesia's refrigeration sector require comprehensive market data, growth forecasts, and competitive analysis to assess investment viability and identify acquisition or partnership targets.
      • Government & Policy Makers : Regulatory bodies and government agencies need market intelligence to develop informed environmental policies, refrigerant phase-out timelines, and industrial development strategies aligned with Indonesia's economic growth objectives.

      Key Companies in the Indonesia 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 Size & Growth Data : Access precise valuation metrics for Indonesia's refrigerants market with verified 2024 baseline (USD 77.5M) and 2029 forecasts (USD 106.3M), enabling accurate business planning and investment decisions.
      • Competitive Landscape Intelligence : Understand Indonesia-specific market dynamics, key players, and competitive positioning to identify partnership opportunities, market entry strategies, and differentiation tactics in this high-growth Southeast Asian market.
      • Sector-Specific Demand Insights : Gain detailed understanding of refrigerant demand across Indonesia's commercial, industrial, and residential sectors, including emerging applications in food processing, pharmaceuticals, and cold chain logistics.
      • Regulatory & Sustainability Trends : Stay informed on Indonesia's environmental regulations, refrigerant phase-outs, and transition toward low-GWP alternatives, enabling compliant product development and market-aligned business strategies.
      • Investment & Expansion Planning : Leverage Indonesia market forecasts and growth drivers to evaluate expansion opportunities, assess market potential, and allocate resources effectively in this emerging high-growth refrigeration market.

      Frequently asked questions

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

      Indonesia's refrigerants market was valued at USD 77.5 million in 2024 and is expected to grow to USD 106.3 million by 2029.

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

      Indonesia's refrigerants market is projected to grow at a compound annual growth rate (CAGR) of 6.51% from 2024 to 2029.

      Which industries drive refrigerant demand in Indonesia?

      Key demand drivers in Indonesia include food processing, retail and supermarket chains, hospitality, air conditioning systems, and cold chain logistics for perishable goods.

      What regulatory changes are affecting Indonesia's refrigerants market?

      Indonesia is transitioning toward low-GWP and ozone-safe refrigerants in compliance with the Montreal Protocol and international environmental standards to reduce environmental impact.

      How does Indonesia's market compare to the broader Asia Pacific region?

      Indonesia represents a significant growth opportunity within Asia Pacific, with its 6.51% CAGR driven by urbanization, rising incomes, and expanding industrial and commercial infrastructure.

      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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