Green Refrigerants Market, by Product Type (Hydrocarbons, Ammonia, Carbon dioxide, Water, Low-GWP Refrigerants, and Hydrofluoroolefins (HFOs)), by Application (Domestic Refrigeration, Commercial Refrigeration, Industrial Refrigeration, Stationary Air Cond

Green Refrigerants Market, by Product Type (Hydrocarbons, Ammonia, Carbon dioxide, Water, Low-GWP Refrigerants, and Hydrofluoroolefins (HFOs)), by Application (Domestic Refrigeration, Commercial Refrigeration, Industrial Refrigeration, Stationary Air Conditioning, Mobile Air Conditioning, and Transportation Refrigeration), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Heating, air conditioning, and refrigeration (HVAC&R) industry, globally is witnessing a transition towards green refrigerants or natural or manmade refrigerants with lower carbon footprint and global warming potential (GWP). These refrigerants are used as working fluids in refrigeration systems for heating and cooling purposes. This is attributed to rising concerns over global warming among nations worldwide.
Market Dynamics
Montreal protocol, was implemented by United Nations in 1987, with the aim to cut the consumption and production of synthetic refrigerants like Chlorofluorocarbons (CFCs) and Hydrochlorofluorocarbons (HCFCs) which caused depletion of the ozone layer. This caused a resurgence in demand for Natural refrigerants in refrigeration industry. Moreover, in 1997 Kyoto protocol was globally established by UN to minimize the emissions of Hydrofluorocarbons (HFC) and other greenhouse gases. According to the United Nations Environment Programme (UNEP), the nations involved in the Montreal Protocol eradicated 98% of ozone depleting substances (ODS) by 2021 as compared to their levels in 1990.
Commercial refrigeration segment exhibited a steady growth in Asia-Pacific region in recent past years, owing to urbanization and technological advancements in refrigerant equipment industry. Hypermarket and supermarkets are now upgrading to CO2-based transcritical system technology to limit their CO2 emissions.
Leading companies are also switching over green refrigerants over increased concerns for global warming. For instance, Chemours Company, a global leader in chemical manufacturing and distribution, set up the world’s largest green refrigerant manufacturing factory in March 2019 at Texas, U.S. This factory will manufacture Opteon, a line of low-GWP refrigerant series used in stationary air-conditioning and heat pumps.
Companies involved in refrigeration industry still face a difficulty in developing and choosing the right Low-GWP replacements for synthetic refrigerants as they possess flammable and toxic properties, therefore additional safety standards are needed to be ensured.
Key features of the study:
This report provides in-depth analysis of Green refrigerants market and provides market size (US$ Billion) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global green refrigerants market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key Players in the global green refrigerants market include AGC Inc., Arkema SA, ASPEN Refrigerants Inc., Daikin Industries Ltd, Global Refrigerants, Harp International Ltd., Honeywell International Inc., The Linde Group, SRF Limited, Tazzetti S.p.A., and The Chemours Company.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global green refrigerants market report caters to various stakeholders in this industry including investors, suppliers, global green refrigerants manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global green refrigerants market
Detailed Segmentation:
Global Green Refrigerants Market, By Product Type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
Global Green Refrigerants Market, By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Global Green Refrigerants Market, By Region:
North America
U.S.
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Canada
By Product Type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Mexico
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Europe
U.K.
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Germany
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
France
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Rest of Europe
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Asia Pacific
China
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
India
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Japan
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Rest of Asia Pacific
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
South America
Brazil
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Rest of South America
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Middle East & Africa
Saudi Arabia
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Rest of Middle East & Africa
By Product type:
Hydrocarbons
Ammonia
Carbon dioxide
Water
Low-GWP Refrigerants
Hydrofluoroolefins (HFOs)
By Application:
Domestic Refrigeration
Commercial Refrigeration
Industrial Refrigeration
Stationary Air Conditioning
Mobile Air Conditioning
Transportation Refrigeration
Company Profiles
AGC Inc.*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Arkema SA
ASPEN Refrigerants Inc.
Daikin Industries Ltd
Global Refrigerants
Harp International Ltd
Honeywell International Inc.
The Linde Group
SRF Limited
Tazzetti S.p.A.
The Chemours Company
“*” marked represents similar segmentation in other categories in the respective section.