Asia Pacific Refrigerants Market

The report "Asia Pacific Refrigerants Market by Type (HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Others) & Application (Refrigeration system, Chillers, Air Conditioning Systems, and MAC) - Forecast to 2030" is projected to grow from USD 3.39 billion in 2025 and to reach USD 4.72 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.63% during the forecast period.

Browse 150 market data Tables and 60 Figures spread through 200 Pages and in-depth TOC on "Asia Pacific Refrigerants Market by Type (HFC, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide, Others) & Application (Refrigeration system, Chillers, Air Conditioning Systems, and MAC) - Forecast to 2030"
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The Asia Pacific refrigerants market is witnessing steady growth, which is attributed to rapid urbanization, the expansion of cold-chain infrastructure, and the increasing demand for energy-saving HVACR systems in China, India, Japan, South Korea, and Southeast Asia. The installation of air conditioning units in residential and commercial sectors, growth in organized retail, and the rising demand for frozen and processed foods fuel the consumption of refrigerants in the region. The booming e-commerce industry, especially in food delivery, pharmaceuticals, and temperature-controlled logistics, has fueled considerable investments in modern refrigeration systems. At the same time, the Kigali Amendment is encouraging manufacturers to transition to low-global warming potential (GWP) blends, natural refrigerants, and next-generation system designs. The modernization of aging cooling infrastructure, rising heat pump deployment, and intensifying heat stress conditions across tropical markets further strengthen the outlook for the Asia Pacific refrigerants market.

By type, the HFO segment is projected to be the fastest-growing type in the Asia Pacific refrigerants market during the forecast period.

The refrigerant landscape in the Asia Pacific is rapidly changing as countries move away from high-GWP HFCs (hydrofluorocarbons) toward next-generation, environmentally friendly alternatives. At present, HFCs possess the largest market share mainly because of their application in air conditioning systems for homes and businesses. Nonetheless, a major change is taking place in cooling and industrial refrigeration, especially in China, Japan, India, and South Korea, where HFO based refrigerants (hydrofluoroolefins) are getting more prevalent. This pattern is mainly the result of progressively rigorous emission standards as well as national phase, down programs. Besides that, natural refrigerants such as isobutane (R-600a), propane (R-290), ammonia (R-717), and carbon dioxide (R-744) are becoming more commonly used in supermarket refrigeration, cold storage, heat pumps, and industrial systems.

China and Japan are amongst the nations that are pushing for radical changes to natural refrigerant technologies with low GWP, hence providing ample high, growth opportunities for HFOs, which are projected to be the fastest-growing refrigerant category in the region through 2030.

By application, air conditioning systems accounted for the largest and fastest-growing segment in the Asia Pacific refrigerants market in 2024.

The demand for refrigerants in the Asia Pacific region is being driven by the growing requirements for cooling, which, in turn, are a result of the rapid expansion of air conditioning systems, urban residential housing, and commercial infrastructure in China, India, and Southeast Asia.  The area is experiencing significant replacement of old AC units, particularly with inverter-based systems, VRF technology, heat pumps, energy-efficient ducted systems, and packaged AC systems. Air conditioning is the largest and fastest-growing application, driven by population growth, warm climates, and rising incomes that are stimulating AC penetration in emerging economies such as India, Indonesia, and Vietnam. Mobile air conditioning (MAC) systems are anticipated to become the second-fastest growing segment of the automotive market mainly due to a surge in vehicle production in countries such as China, India, Japan, and Thailand. Besides, the switch to R-1234yf refrigerant in passenger vehicles and the growing trend of electric cars are some other factors, which are spurring the need for refrigerants in MAC systems.

China was the largest market for refrigerants in the Asia Pacific in 2024.

China is at the forefront of the demand for refrigerants in the region because of its high production capacity of HVAC and widespread cold-chain infrastructure. The country is also a net exporter of air conditioning and refrigeration equipment, and the quick implementation of low GWP technologies is another evidence of the influence of national carbon-neutrality goals. The country emits a large amount of HFCs due to its role as a global hub for the manufacture of residential air conditioning along with the use of HFOs and hydrocarbons. On the other hand, India is the fastest growing market for refrigerants as a result of the country's increasing urbanization, more middle-class people buying air conditioners, and the infrastructure and cold-storage projects led by the government on a large scale. The country is also witnessing a growing preference for climate-friendly refrigerants. Favorable weather conditions, a robust construction sector, and growing policy support for energy-efficient cooling solutions are contributing to significant growth opportunities in this sector.

The major players profiled in the report are Honeywell International Inc. (US), The Chemours Company (US), Arkema (France), Daikin Industries Ltd. (Japan), and Dongvue Group Limited (China).

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