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Global Low GWP Refrigerants Market Size Study by Type (Inorganics, Hydrocarbons, Fluorocarbons), by Application (Industrial Refrigeration, Commercial Refrigeration, Domestic Refrigeration, Mobile Air-Conditioning), and Regional Forecasts 2024-2034

Publisher Factview Research
Published Aug 18, 2025
Length 285 Pages
SKU # FAVR20464305

Description

The Global Low GWP Refrigerants Market is valued at approximately USD 36.9915 billion in 2024 and is anticipated to grow with a (CAGR) of 11.52% over the forecast period 2024-2034.The escalating demand for environmentally sustainable refrigeration solutions has placed low GWP (Global Warming Potential) refrigerants at the forefront of innovation in the materials and chemicals industry. Low GWP refrigerants are designed to minimize the environmental footprint of refrigeration and air-conditioning systems, addressing global concerns about climate change and regulatory pressures. Their adoption is driven by a mix of stringent environmental regulations, increasing consumer awareness, and advancements in refrigeration technology that promise efficiency without compromising on performance.

Global Low GWP Refrigerants Market trends reflect a pronounced shift towards adopting hydrocarbon-based and other natural refrigerants. These options, apart from being environmentally friendly, also promise compatibility with evolving systems in industrial, commercial, and domestic applications. The move towards natural refrigerants is further bolstered by industry initiatives to ensure safety and efficiency in handling and usage.

The growth of the Global Low GWP Refrigerants Market is underscored by various significant drivers. Key among them is the increasing adoption of low GWP alternatives in response to the phasing out of high GWP refrigerants under international frameworks such as the Kigali Amendment to the Montreal Protocol. Moreover, heightened investments in research and development (R&D) to enhance the compatibility and efficiency of low GWP refrigerants within existing systems have accelerated market penetration. The rising use of hydrocarbon refrigerants in mobile air-conditioning systems and energy-efficient domestic refrigeration further fuels this market expansion. However, high initial investment costs and technical challenges in retrofitting existing systems with low GWP refrigerants are anticipated to restrain growth during the forecast period.

The key regions considered for the Global Low GWP Refrigerants Market study include North America, Europe, Asia Pacific, Latin America, and Rest of the World. Europe held the largest market share in 2024, driven by robust environmental policies and the active involvement of major players in developing innovative solutions. This region is poised for sustained growth due to its strong regulatory frameworks and commitment to achieving carbon neutrality goals. On the other hand, Asia Pacific is expected to experience the fastest growth during the forecast period, primarily due to rapid industrialization, increasing adoption of energy-efficient technologies, and the rising awareness of environmental sustainability in major markets like China, India, and Japan.

Major market players included in this report are:
  • Daikin Industries, Ltd.
  • Honeywell International Inc.
  • The Chemours Company
  • Arkema S.A.
  • Dongyue Group Co., Ltd.
  • AGC Inc.
  • SRF Limited
  • Gujarat Fluorochemicals Limited
  • Linde plc
  • Tazzetti S.p.A.
  • Airgas Refrigerants Inc.
  • Asahi Glass Co., Ltd.
  • Mexichem S.A.B. de C.V.
  • A-Gas International
  • Sinochem Group Co., Ltd.
The detailed segments and sub-segments of the market are explained below:

By Type
  • Inorganics
  • Hydrocarbons
  • Fluorocarbons
By Application
  • Industrial Refrigeration
  • Commercial Refrigeration
  • Domestic Refrigeration
  • Mobile Air-Conditioning
By Region:
  • North America
U.S.

Canada
  • Europe
UK

Germany

France

Spain

Italy

Rest of Europe
  • Asia Pacific
China

India

Japan

Australia

South Korea

Rest of Asia Pacific
  • Latin America
Brazil

Mexico
  • Middle East & Africa
Saudi Arabia

South Africa

Rest of Middle East & Africa

Years considered for the study are as follows:
  • Historical year – 2023
  • Base year – 2024
  • Forecast period – 2024 to 2034
Key Takeaways:
  • Market Estimates & Forecast for 10 years from 2024 to 2034.
  • Annualized revenues and regional-level analysis for each market segment.
  • Detailed analysis of geographical landscape with country-level insights.
  • Competitive landscape with information on major players in the market.
  • Analysis of key business strategies and recommendations on future market approaches.
  • Comprehensive evaluation of competitive structures and market dynamics.
  • Demand-side and supply-side analysis of the market.

Table of Contents

285 Pages
Chapter 1. Global Low GWP Refrigerants Market Executive Summary
1.1. Global Low GWP Refrigerants Market Size & Forecast (2024-2034)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6 Investment Analysis
1.7 Investment Rationale
1.8. Analyst Recommendation & Conclusion
Chapter 2. Global Low GWP Refrigerants Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Low GWP Refrigerants Market Dynamics
3.1. Market Drivers
3.1.1. Increasing Environmental Regulations
3.1.2. Technological Advancements in Refrigeration Systems
3.1.3. Growing Demand in Various Applications
3.2. Market Challenges
3.2.1. High Initial Investment Costs
3.2.2. Technical Challenges in Retrofitting Existing Systems
3.3. Market Opportunities
3.3.1. Expansion in Developing Regions
3.3.2. Innovation in Low GWP Refrigerants
3.3.3. Growing Applications in Mobile Air-Conditioning
Chapter 4. Global Low GWP Refrigerants Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Low GWP Refrigerants Market Size & Forecasts by Type 2022-2032
5.1. Segment Dashboard
5.2. Global Low GWP Refrigerants Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Inorganics
5.2.2. Hydrocarbons
5.2.3. Fluorocarbons
Chapter 6. Global Low GWP Refrigerants Market Size & Forecasts by Application 2022-2032
6.1. Segment Dashboard
6.2. Global Low GWP Refrigerants Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. Industrial Refrigeration
6.2.2. Commercial Refrigeration
6.2.3. Domestic Refrigeration
6.2.4. Mobile Air-Conditioning
Chapter 7. Global Low GWP Refrigerants Market Size & Forecasts by Region 2022-2032
7.1. North America Refrigerants Market
7.1.1. U.S. Refrigerants Market
7.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
7.1.1.2. Application Breakdown Size & Forecasts, 2022-2032
7.1.2. Canada Refrigerants Market
7.2. Europe Refrigerants Market
7.2.1. U.K. Refrigerants Market
7.2.2. Germany Refrigerants Market
7.2.3. France Refrigerants Market
7.2.4. Spain Refrigerants Market
7.2.5. Italy Refrigerants Market
7.2.6. Rest of Europe Refrigerants Market
7.3. Asia-Pacific Refrigerants Market
7.3.1. China Refrigerants Market
7.3.2. India Refrigerants Market
7.3.3. Japan Refrigerants Market
7.3.4. Australia Refrigerants Market
7.3.5. South Korea Refrigerants Market
7.3.6. Rest of Asia Pacific Refrigerants Market
7.4. Latin America Refrigerants Market
7.4.1. Brazil Refrigerants Market
7.4.2. Mexico Refrigerants Market
7.4.3. Rest of Latin America Refrigerants Market
7.5. Middle East & Africa Refrigerants Market
7.5.1. Saudi Arabia Refrigerants Market
7.5.2. South Africa Refrigerants Market
7.5.3. Rest of Middle East & Africa Refrigerants Market
Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Daikin Industries, Ltd.
8.1.2. Honeywell International Inc.
8.1.3. The Chemours Company
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Daikin Industries, Ltd.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Market Strategies
8.3.2. Arkema S.A.
8.3.3. Dongyue Group Co., Ltd.
8.3.4. AGC Inc.
8.3.5. SRF Limited
8.3.6. Gujarat Fluorochemicals Limited
8.3.7. Linde plc
8.3.8. Tazzetti S.p.A.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes

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