Secondary Refrigerants

Global Secondary Refrigerants Market to Reach US$1.2 Billion by 2030

The global market for Secondary Refrigerants estimated at US$895.8 Million in the year 2024, is expected to reach US$1.2 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2024-2030. Glycols, one of the segments analyzed in the report, is expected to record a 6.2% CAGR and reach US$561.3 Million by the end of the analysis period. Growth in the Salt Brines segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$234.4 Million While China is Forecast to Grow at 9.1% CAGR

The Secondary Refrigerants market in the U.S. is estimated at US$234.4 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$286.3 Million by the year 2030 trailing a CAGR of 9.1% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.9% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Global Secondary Refrigerants Market - Key Trends and Drivers Summarized

Secondary Refrigerants: What’s Cooling the Next Generation of Refrigeration Systems?

Secondary refrigerants are fluids used to transfer thermal energy in cooling and refrigeration systems without undergoing phase change. Unlike primary refrigerants, which undergo evaporation and condensation, secondary refrigerants circulate between a chiller or refrigeration unit and the point of cooling. Common secondary refrigerants include water, brine solutions, glycol, and various organic and inorganic compounds that are chosen based on their thermal properties, environmental impact, and safety considerations. The market for secondary refrigerants is growing rapidly due to the increasing demand for energy-efficient cooling solutions and the need to comply with stringent environmental regulations aimed at phasing out high-global warming potential (GWP) refrigerants. Secondary refrigerants are widely used in commercial and industrial refrigeration, district cooling systems, and cryogenic applications, where they help optimize energy consumption and reduce greenhouse gas emissions.

How Are Technological Innovations Enhancing Secondary Refrigerant Efficiency?

Technological innovations are playing a critical role in enhancing the efficiency and safety of secondary refrigerants, making them more attractive for diverse applications. Advances in heat transfer fluids and additives are improving the thermal conductivity and heat capacity of secondary refrigerants, enabling more efficient heat exchange and cooling performance. Developments in heat exchanger and piping system designs are optimizing the flow and distribution of secondary refrigerants, reducing energy loss and enhancing overall system efficiency. Furthermore, the introduction of non-toxic, non-flammable, and low-viscosity secondary refrigerants is addressing safety and environmental concerns, making them suitable for a broader range of applications. These technological advancements are driving the adoption of secondary refrigerants in various cooling and refrigeration systems, from food processing and cold storage to data centers and pharmaceutical manufacturing.

What Market Trends Are Driving the Adoption of Secondary Refrigerants?

Several market trends are driving the adoption of secondary refrigerants, reflecting the growing emphasis on sustainability, efficiency, and safety in cooling and refrigeration systems. The rising focus on reducing greenhouse gas emissions and energy consumption is spurring the demand for low-GWP secondary refrigerants, such as CO2 and ammonia, which offer high energy efficiency and minimal environmental impact. The expansion of cold chain logistics, driven by the increasing demand for perishable goods and pharmaceuticals, is creating new opportunities for secondary refrigerants that provide reliable and consistent cooling. The growth in district cooling systems, particularly in urban areas and hot climates, is further boosting the use of secondary refrigerants to optimize energy use and reduce operational costs. Additionally, the increasing integration of renewable energy sources and thermal energy storage systems is supporting the adoption of secondary refrigerants in sustainable cooling solutions.

What Drives the Growth in the Secondary Refrigerants Market?

The growth in the secondary refrigerants market is driven by several factors, including advancements in refrigerant technologies, the growing need for energy-efficient cooling solutions, and the expanding applications in industrial and commercial refrigeration. The increasing regulatory pressure to phase out high-GWP refrigerants is driving the shift towards secondary refrigerants that offer low environmental impact and compliance with environmental standards. The development of advanced heat transfer fluids and innovative system designs is enhancing the performance and safety of secondary refrigerants, supporting their adoption in diverse applications. The expansion of cold chain logistics, district cooling systems, and renewable energy integration is further driving the demand for secondary refrigerants. Moreover, collaborations between HVAC manufacturers and chemical companies to develop customized refrigerant solutions are contributing to market growth.

SCOPE OF STUDY:

The report analyzes the Secondary Refrigerants market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Glycols, Salt Brines, Carbon Dioxide, Other Types); Application (Industrial Refrigeration, Commercial Refrigeration, Heat Pumps, Air Conditioning, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 43 Featured) -

• A-Gas International
• Arteco Coolants
• Clariant AG
• Climalife Groupe Dehon
• Dow, Inc.
• DuPont de Nemours, Inc.
• Dynalene, Inc.
• Eastman Chemical Company
• Environmental Process Systems Ltd.
• Gas Servei S.A.
• Hydratech Industries
• Linde AG
• Nisso Shoji Co. Ltd.
• SRS Frigadon
• Tazzetti S.p.A.
• Temper Technology AB

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