Low GWP Refrigerants Market: Information by Type (Inorganics, Hydrocarbons, Fluorocarbons), Application (Industrial Refrigeration, Commercial Refrigeration, Domestic Refrigeration, Mobile Air-Conditioning), Region — Global Forecast till 2030

Market Synopsis

Global Low GWP Refrigerants Market was valued at USD 17.2 Billion in 2018 growing with the CAGR of 11.12% during the forecast period. The low global warming potential (GWP) refrigerants have zero ozone depletion and has significant potential to reduce global warming. A refrigerant is an essential fluid which absorbs heat at low temperature and low-pressure, later transfers heat at a higher temperature and higher pressure of the fluid. Majorly available in hydrocarbon, fluorocarbons and inorganics types.

The hydrocarbon a greenhouse gas with high value of global warming potential. Hydrochlorofluorocarbon and hydrocarbon have high global warming potential and comprises of three main fluids such as ammonia, carbon dioxide and hydrocarbons along with fluorocarbons. Moreover, fluorocarbon is a derivative of hydrocarbon which is used in air conditioning equipment owing to its attributes of long lifespan.

The market is driven by limited environmental impact of low GWP refrigerants coupled with increasing demand for air conditioners and refrigeration. According to the Japan Refrigeration and Air Conditioning Industry Association (JRAIA) the demand for air conditioner has increased from 2012 to 2017 with around 110.56 million units in 2017. Major countries such as Japan, China, US and France have been positively contributing towards global demand for air conditioners. Thus, rising air conditioner demand across the globe is expected to boost low GWP refrigerant market during the review period.

Global Low GWP Refrigerants Market Share, by Application, 2017 (%)

Source: MRFR analysis

Regional Analysis

Asia-Pacific, Europe, Latin America, North America and the Middle East & Africa are the five regions studied for the global low GWP refrigerant Market. In 2017, Europe is projected to lead the market owing to European government regulation such as F-Gas Regulation 517/2014 which controls the usage of fluorinated greenhouse gases and its impact on environment. This regulation is expected to boost the low GWP refrigerants market by restraining the growth of conventional refrigerants during the forecast period. Latin America is projected to witness healthy growth in term of CAGR owing to increasing usage of air conditioners in Brazil and Chile supported by high infrastructure and development activities in the region.

North America and Asia-Pacific have been witnessing significant growth in terms of CAGR during the review period owing to rise in temperature and global warming. In addition, the markets in the Middle East & Africa are projected to witness steady growth during the forecast timeframe. Countries such as UAE and Saudi Arabia are one of the growing markets for air conditioners, around 70% of their electricity is used for cooling purpose owing to warm weather in the region. Thus, rise in temperature across the globe is expected to fuel low GWP refrigerants market during the assessment period.

Market Segmentation

The global low GWP refrigerant market has been segmented on the basis of types, application and region.

Based on types, the global low GWP refrigerant market has been segregated into types and application.

Global GWP refrigerant market by type is categorized as inorganics, hydrocarbons and fluorocarbons. Based on application the market comprises of industrial refrigeration, commercial refrigeration, domestic refrigeration, mobile air-conditioning, stationary air-conditioning and others.

The global low GWP refrigerant market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Key Players

Some of the prominent players in the global low GWP refrigerant market are Honeywell International Inc (U.S.), Daikin industries, Ltd. (Japan), The Linde Group (Ireland), Arkema (France), The Chemours Company (U.S.), SOL Spa (Italy), GTS SPA (Italy), Harp International Ltd (UK), Mexichem S.A.B de C.V. (Mexico), HyChill (Australia), Puyang Zhongwei Fine Chemical Co. Ltd (China), Tazzetti S.p.A (Italy), Airgas, Inc (U.S.), The natural refrigerants company Pty ltd (Australia), A-Gas International (UK), Brothers Gas (UAE), E.F. International (U.S.), engas Australasia (Australia) and Sinochem Lantian co., Ltd (China).

Intended Audience

• Low GWP refrigerant manufacturers


• Traders and distributors of low GWP refrigerant


• Research and development institutes


• Potential investors


• Raw material suppliers


• Nationalized laboratories