Global Zero ODP and Low GWP Refrigerants Market Growth 2024-2030

Global Zero ODP and Low GWP Refrigerants Market Growth 2024-2030

The market for Low Global Warming Potential (GWP) refrigerants is undergoing a significant transformation driven by stringent regulatory frameworks, environmental concerns, and technological advancements. As global awareness of climate change intensifies, regulations such as the Kigali Amendment to the Montreal Protocol and the European Union’s F-Gas Regulation are mandating reductions in the use of high-GWP refrigerants like HFCs, propelling the shift towards alternatives with lower GWP. This regulatory pressure is fostering a rapid adoption of low-GWP refrigerants across various sectors including commercial, industrial, and residential refrigeration. Among the prominent low-GWP alternatives are hydrofluoroolefins (HFOs), which, such as HFO-1234yf, offer significantly reduced GWP compared to traditional HFCs, and are increasingly used in automotive air conditioning and other applications. HFC replacements like R32 (Difluoromethane) and R-152a are also gaining prominence. R32, with a GWP of around 675, is a direct and efficient replacement for higher-GWP refrigerants like R410A in air conditioning systems, while R-152a, with a GWP of 138, is used in specific applications where lower environmental impact is crucial, despite its flammability. Additionally, natural refrigerants like carbon dioxide (CO2), ammonia (R-717), and hydrocarbons (e.g., propane R-290) are gaining traction due to their negligible or zero GWP and high efficiency, making them suitable for diverse applications from commercial refrigeration to industrial processes. Technological advancements are also playing a crucial role in facilitating this transition, with innovations improving the efficiency, safety, and applicability of low-GWP refrigerants. For example, new system designs and refrigerant blends are enhancing the performance of low-GWP options and addressing challenges such as high pressures or flammability. The market is experiencing robust growth, driven by both regulatory compliance and the pursuit of sustainability. This growth is further supported by increasing investment in research and development, aimed at optimizing the performance and expanding the applications of low-GWP refrigerants. As industries and governments align with more ambitious climate goals, the trend towards low-GWP refrigerants is expected to continue accelerating, reshaping the refrigeration and air conditioning landscape with a focus on reducing environmental impact and enhancing energy efficiency.

The global Zero ODP and Low GWP Refrigerants market size is projected to grow from US$ 2496 million in 2024 to US$ 3534 million in 2030; it is expected to grow at a CAGR of 6.0% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Zero ODP and Low GWP Refrigerants Industry Forecast” looks at past sales and reviews total world Zero ODP and Low GWP Refrigerants sales in 2023, providing a comprehensive analysis by region and market sector of projected Zero ODP and Low GWP Refrigerants sales for 2024 through 2030. With Zero ODP and Low GWP Refrigerants sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Zero ODP and Low GWP Refrigerants industry.

This Insight Report provides a comprehensive analysis of the global Zero ODP and Low GWP Refrigerants landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Zero ODP and Low GWP Refrigerants portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Zero ODP and Low GWP Refrigerants market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Zero ODP and Low GWP Refrigerants and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Zero ODP and Low GWP Refrigerants.

Global and regional regulations are the primary drivers for the adoption of low-GWP refrigerants. Agreements like the Kigali Amendment to the Montreal Protocol, which mandates a global phase-down of HFCs, are pushing countries to reduce their reliance on high-GWP refrigerants. In the European Union, the F-Gas Regulation strictly limits the use of high-GWP refrigerants, further accelerating the transition. Similar initiatives in the U.S., Japan, and other regions are enforcing the shift to more sustainable refrigerant solutions.

As concerns over climate change grow, there is increasing pressure on industries to minimize their carbon footprints. Traditional HFC refrigerants contribute significantly to global warming due to their high-GWP values. Switching to low-GWP alternatives like HFOs, natural refrigerants (ammonia, CO2, hydrocarbons), and low-GWP HFCs (R32) allows companies to significantly reduce their greenhouse gas emissions.

Many low-GWP refrigerants, especially natural refrigerants and some HFOs, provide high energy efficiency, which leads to cost savings over time. This is particularly important in energy-intensive industries like refrigeration and air conditioning. The ability to combine environmental benefits with energy savings is a strong incentive for companies to make the switch.

This report presents a comprehensive overview, market shares, and growth opportunities of Zero ODP and Low GWP Refrigerants market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
HFC Replacements
Natural Refrigerants
HFO Refrigerants

Segmentation by Application:
Household Air Conditioning and Refrigeration
Commercial and Industrial Refrigeration
Commercial and Industrial Air Conditioning
Transport Air Conditioning

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Honeywell
Chemours
Zhejiang Juhua
Arkema
Zhejiang Yonghe
Linde Group
Daikin
Puyang Zhongwei Fine Chemical Co
Dongyue Group
Zhejiang Sanmei Chemical
Zibo Feiyuan Chemical
Shandong Yue’an New Material Co
Shandong Hua'an
Aeropres Corporation
Messer Group
Tazzetti
Zhejiang Huanxin Fluoromaterial Co
Evonik

Key Questions Addressed in this Report

What is the 10-year outlook for the global Zero ODP and Low GWP Refrigerants market?

What factors are driving Zero ODP and Low GWP Refrigerants market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Zero ODP and Low GWP Refrigerants market opportunities vary by end market size?

How does Zero ODP and Low GWP Refrigerants break out by Type, by Application?



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