Low GWP Refrigerants Market

The low GWP refrigerants market is expected to reach USD 13.06 billion by 2031 from USD 8.17 billion in 2026, at a CAGR of 9.8% during the forecast period.

Low GWP refrigerants are major environmentally friendly measures used in industrial, commercial and residential refrigeration and air conditioning systems with their main characteristics being low global warming potential, high energy efficiency, good cooling performance, thermal stability and reliable operation under tough conditions. These refrigerants become the most favored options, partly because they are highly efficient in transferring heat, reduce greenhouse gas emissions, and meet environmental regulations and support the phase-out of high GWP refrigerants. These refrigerants can be applied in many areas like industrial refrigeration, commercial refrigeration, household refrigerator, room air conditioning, vehicle air conditioning, and other cooling applications as well. Growing refrigerant chemical formulation technology development and the improvements made in refrigeration system designs have given manufacturers the ability to create products that are not only much more energy efficient, cooling capable and safer, but which also exhibit longer-lasting performance with limited maintenance. Besides being main components of refrigeration and air conditioning systems, Low-GWP refrigerants also promote energy-efficient cooling by contributing to environmental sustainability. Low-GWP refrigerants will help move the world towards adopting refrigeration technologies with clean and sustainable options.

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The demand for low GWP refrigerants is mainly met by global players manufacturing for various applications. The major players in the low GWP refrigerants market with a significant global presence are Solstice Advanced Materials (US), The Chemours Company (US), Daikin Industries, Ltd. (Japan), Arkema (France), Orbia (Mexico). The market players have adopted various strategies such as expansions, acquisitions, partnerships, and product launches, to strengthen their position in the low GWP refrigerants market.

In June 2026, Solstice Advanced Materials and A-Gas entered into a strategic agreement to accelerate the transition to low-GWP refrigerants and expand refrigerant reclamation and circularity. Under the agreement, A-Gas will use its recovery and reclamation capabilities to produce low-GWP refrigerant blends using reclaimed HFCs and Solstice’s HFOs, supporting the use of lower-GWP solutions in existing refrigeration systems. The partnership strengthens Solstice Advanced Materials’ low-GWP refrigerant portfolio and expands its capabilities in sustainable refrigerant lifecycle management.

Solstice Advanced Materials (US)

Solstice Advanced Materials is one of the major players in the Low GWP Refrigerants market, with strong expertise in developing and supplying next-generation refrigerants for refrigeration and air-conditioning applications. The company’s refrigerant portfolio includes low-GWP solutions designed for commercial refrigeration, stationary air conditioning, automotive air conditioning, and other cooling applications. Its refrigerants provide features such as low global warming potential, energy efficiency, reliable cooling performance, and compliance with evolving environmental regulations. Its continued focus on refrigerant innovation and development of application-specific solutions has helped strengthen its presence in the global Low GWP Refrigerants market.

The Chemours Company (US)

The Chemours Company is a prominent player in the Low GWP Refrigerants market, primarily through its Opteon™ portfolio of low-GWP refrigerants. The company provides refrigerant solutions for commercial refrigeration, residential and commercial air conditioning, automotive air conditioning, and heat pump applications. Its products are designed to offer low global warming potential, energy efficiency, safety, and reliable system performance while supporting the transition from high-GWP refrigerants. Through continued investment in refrigerant technology, product development, and sustainable cooling solutions, Chemours has strengthened its position in the global Low GWP Refrigerants market.

Daikin Industries, Ltd. (Japan)

Daikin Industries, Ltd. is one of the major players in the Low GWP Refrigerants market, supported by its extensive expertise in refrigeration and air-conditioning technologies. The company develops and supplies low-GWP refrigerant solutions for air conditioning, refrigeration, heat pumps, and other cooling applications. Its technologies focus on reducing environmental impact while maintaining energy efficiency, cooling performance, safety, and system reliability. Its continued investment in refrigerant research, equipment development, and environmentally responsible cooling technologies has helped strengthen its presence in the global Low GWP Refrigerants market.

Arkema (France)

Arkema is a major player in the Low GWP Refrigerants market through its development of fluorinated specialty products and refrigerant technologies. The company offers low-GWP fluorocarbon solutions designed for refrigeration, air conditioning, heat pumps, and other thermal management applications. Its refrigerant technologies provide properties such as reduced global warming potential, efficient cooling performance, thermal stability, and compatibility with modern equipment. Its continued focus on fluorochemical innovation and development of sustainable refrigerant solutions has helped strengthen its presence in the global Low GWP Refrigerants market.

Orbia (Mexico)

Orbia is a prominent player in the Low GWP Refrigerants market through its Koura business, which develops and supplies refrigerants for refrigeration and air-conditioning applications. The company offers low-GWP refrigerant solutions for commercial refrigeration, automotive air conditioning, heat pumps, and other cooling systems. Its portfolio focuses on reducing environmental impact while providing efficient cooling performance, reliability, and compatibility with evolving regulatory requirements. Through continued investment in refrigerant development, sustainable cooling technologies, and refrigerant lifecycle management, Orbia has strengthened its presence in the global Low GWP Refrigerants market.

MARKET RANKING

The Low GWP refrigerants market is competitive, with a few leading companies holding a significant share of the global market based on their strong portfolio, technology advancements, and global footprint. Some of the leading organizations operating in this market are Solstice Advanced Materials (US), The Chemours Company (US), Daikin Industries, Ltd. (Japan), Arkema (France), Orbia (Mexico), Linde PLC (UK), AGC Inc. (Japan), Dongyue Group (China), Sinochem Holdings (China), Zhejiang Juhua Co., Ltd. (China). Leading players continue to focus on innovation, product differentiation, and strategic collaborations to strengthen their market position and expand their global footprint. Additionally, long-term partnerships with refrigeration equipment manufacturers, HVAC companies, automotive manufacturers, commercial refrigeration providers, and system integrators strengthen customer retention and ensure recurring demand. This competitive environment reinforces the dominance of key players while maintaining steady market growth.

Related Reports:

Low GWP Refrigerants Market by Type (Inorganics, Fluorocarbons, Hydrocarbons), Application (Industrial, Commercial, Domestic Refrigeration, Stationary Air Conditioning, Mobile Air Conditioning, Others), and Region - Global Forecast To 2031

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