Global refrigerants market seen doubling to $42 billion by 2030

The global refrigerants market is projected to grow from $20.6 billion in 2020 to $42.0 billion by 2030, driven by demand for low-GWP alternatives, energy efficiency and cooling needs in HVAC, automotive and food storage. Allied Market Research also sees Asia-Pacific remaining the largest region while AC and halocarbon segments post the fastest growth.

Why it matters: - Refrigerants are a core input for air conditioning, refrigeration and cold-chain systems. - The market’s shift toward low-GWP products reflects tighter environmental rules and a broader push for energy efficiency and sustainability. - Faster demand in HVAC, automotive and food transportation points to continued spending on cooling infrastructure.

What happened: - Allied Market Research projected the global refrigerants market will reach $42.0 billion by 2030. - The market generated $20.6 billion in 2020. - The forecast implies a 7.4% CAGR from 2021 to 2030. - The report covers market dynamics, top segments, the value chain, investment pockets, regional trends and competition. - The study is titled "Refrigerants Market by Type (Halocarbons, Azeotropic, Zeotropic, Carbon Dioxide, Inorganic, and Hydrocarbons) and Application (Air Conditioner (AC) and Refrigeration): Global Opportunity Analysis and Industry Forecast, 2021-2030." - Download the sample report.

The details: - The market is moving toward low-GWP refrigerants, including HFOs and natural alternatives. - Stringent environmental regulations are accelerating that transition. - Urbanization and lifestyle improvements are lifting demand. - Commercial sector expansion is adding to refrigerant use. - High demand for air conditioners is supporting growth. - Technological advances are improving cooling systems. - Freezing and cold storage use in food and transportation remain key demand drivers. - Rising demand for health and wellness foods, including organic food that needs cold storage, creates additional market opportunities. - Leading companies in the report include Akrema S.A, Daikin Industries Ltd., E.I. du Pont Nemours & Co., Solvay S.A., Honeywell International Inc., Mexichem S.A.B. de C.V., Dongyue Group, SRF Limited, Navin Fluorine International Limited and Sinochem Group. - The report also offers a purchase inquiry page for questions and a premium report purchase option.

Between the lines: - The strongest long-term opportunity appears to be in lower-emission refrigerants, where regulation and product innovation are reinforcing each other. - The segment data suggests refrigeration remains the biggest revenue pool, while AC may grow faster as cooling demand rises in warmer, urbanizing markets. - Regional leadership in Asia-Pacific signals where volume demand is already concentrated, while faster growth in LAMEA suggests more room for expansion.

What's next: - The refrigeration segment is expected to keep the largest market share through 2030. - The AC segment is projected to post the fastest CAGR at 7.7% from 2021 to 2030. - The inorganic segment is expected to remain the largest type category, while halocarbons are projected to grow the fastest at 8.6%. - Asia-Pacific is expected to keep the largest regional share, while LAMEA is projected to grow the fastest at 8.2%. - The full summary report is available here.