Refrigerants Companies

In terms of value, the Refrigerants market is estimated to grow from USD 6.99 billion in 2024 to USD 9.56 billion by 2029, at a CAGR of 6.5%. Refrigerants market has grown as the demand for increasing demand for consumer appliances and growing pharmaceutical industry. These factors drive the refrigerants market. Also, the refrigerants manufacturers have opportunity such as increasing demand for HVAC systems in emerging economies and increasing demand for natural refrigerants. Along with the drivers and opportunities, stringent regulations against fluorocarbon refrigerants, and flammability and toxicity issues are the major restraint for the market growth.

Refrigerants Companies

The key players profiled in the report include Arkema (France), Dongyue Group Limited (China), Honeywell International Inc. (US), The Chemours Company (US), Linde plc (Ireland), The Sinochem Hong Kong (Group) Company Limited (China), Daikin Industries, Ltd. (Japan), Orbia Advance Corporation, S.A.B. de C.V. (US), AGC Inc. (Japan), and A-Gas International Limited (UK), and others. The Refrigerants market has witnessed insignificant growth in the past few years; increasing demand for HVAC systems in emerging economies and increasing demand for natural refrigerants drive the growth of this market. Market players are introducing new technologies, acquisitions, collaborations and features to acquire larger market shares.

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Arkema is a global leader in specialty chemicals and advanced materials, with a significant position in the refrigerants market through its Forane brand. The company develops and supplies a wide range of refrigerants, including hydrofluorocarbons (HFCs), hydrofluoroolefins (HFOs), and low-GWP alternatives, catering to HVAC, automotive, and industrial refrigeration applications. For instance, Arkema announced an innovative and long-term partnership with Nutrien Ltd, the largest agricultural company in the world for the supply of anhydrous hydrogen fluoride. Of the total, half will be used to produce high value-added polymers and fluoro-derivatives, and the remaining half to produce low-GWP (global warming potential) fluorogases. The company focuses on sustainability, innovation, and efficiency, aiming to develop low-emission and energy-efficient cooling solutions.

Honeywell International Inc. is a leading company in the refrigerants industry, including its brands such as Solstice and Genetron. The company has approximately 715 locations, including 194 manufacturing sites worldwide, with a significant presence across North America, Europe, and emerging markets. It manufactures and markets refrigerants under the performance materials and technologies segment. The company has a strong sales network in the US and Europe. The Company is focused on collaboration, acquisition, partnership and product launch as a part of growth strategies.  For instance, in January 2022, Honeywell International Inc. launched a new non-flammable energy-efficient Solstice N71 (R-471A) refrigerant to meet the stringent regulations regarding reducing greenhouse gas emissions.

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Refrigerants Market by Type (HFC & Blends, HFO, Isobutane, Propane, Ammonia, Carbon Dioxide), Application (Refrigeration System, Air Conditioning System, Chillers, and MAC), and Region(Asia Pacific , North America, Europe, MEA) - Global Forecast to 2029