What is the market trend for Refrigerant | Key Players & Strategic Developments 2026

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Code: MTA11618

Publication Date: Dec 2025

What are the latest trends observed in the Refrigerant Market?

According to 6Wresearch internal database and industry insights, the Global Refrigerant Market was valued at USD 21 Billion in 2025 and is expected to reach USD 29 Billion by 2032, growing at a compound annual growth rate of 4.50% during the forecast period (2026-2032).

As a result of increased urbanisation, hotter climates, and the growing cold storage infrastructure, demand for HVAC and refrigeration has risen sharply in both the residential and industrial sectors. At the same time, the changes required by regulation and the environment are pushing the industry to phase out the use of harmful refrigerants.

Growth Factors for the Refrigerant Market

Rising installation of HVAC units in residential and commercial spaces.
Growing cold chain expansion for food and pharmaceutical storage.
Increasing shift toward lower-GWP alternatives.
Rising adoption of natural refrigerants for sustainability goals.
Growth in maintenance and replacement cycles for existing systems.

Investment Potential for the Refrigerant Market

The investment potential in the Refrigerants Market is expanding as demand shifts toward sustainable, low-GWP cooling solutions. Manufacturers and suppliers capable of offering next-generation refrigerants stand to benefit from widespread retrofits and new installations of air-conditioning and refrigeration systems. The expansion of cold-storage and cold-chain facilities, along with increasing adoption of efficient HVAC systems in commercial and residential buildings, suggests steady, long-term demand. Innovation potential in new refrigerant chemistries and blends, aligned with environmental regulations, further strengthens the market’s long-term attractiveness. Companies investing in compliant, eco-friendly refrigerants are likely to command premium positioning as the market transitions.

Emerging Developments in the Refrigerant Market

Recent developments in the Refrigerant Market indicate a shift towards refrigerants with lower environmental impact and enhanced performance. Innovations in refrigerant blend chemistry and formulation techniques improve energy efficiency, thermal performance, and compatibility with next-gen HVAC/R systems. Furthermore, the rising demand for refrigeration in cold-chain logistics is driving investments in modern systems that utilize efficient, eco-friendly refrigerants, supporting the industry's move toward sustainable and high-performance cooling solutions across various sectors.