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Low GWP Refrigerants Market Share

ID: MRFR//6002-HCR | 140 Pages | Author: Anshula Mandaokar| November 2024

The Low Global Warming Potential (GWP) Refrigerants Market is changing due to environmental concerns and the need for viable alternatives. This market share positioning methodology is important for firms exploring the changing landscape. Substituting low-GWP refrigerants for hydrofluorocarbons is an important system. These alternatives are designed to minimize ozone layer damage and global warming. Companies making such decisions position themselves as naturally reliable and support the global push for environmentally friendly arrangements.

Low-GWP refrigerant companies are also innovating to improve product performance. By investing in development, they hope to offer refrigerants with a lower environmental impact and meet application requirements. This method lets them serve a larger market and ensures that end-users, such as air molding and refrigeration companies, don't have to worry about performance while following environmentally friendly practices.

Low GWP refrigerant companies' market share positioning relies on organizations and coordinated actions. Industry partners including hardware manufacturers, administrative authorities, and research foundations help companies strengthen their market presence. Cooperative efforts increase low-GWP refrigerant reception guidelines, codes, and guidelines. Additionally, firms integrate these refrigerants into new and current frameworks, providing constant change to end-clients.

To remain pioneers, low GWP refrigerant companies need strong marketing and communication campaigns. Effective communication on low GWP refrigerants' environmental benefits, energy efficiency, and long-term cost reserve funds influences buyer decisions. Organizations often use limited time exercises to make partners conscious and train them about low GWP refrigerants. Building a brand image around supportability and natural responsibility is key to market share positioning.

Unofficial laws and strategies shape the low GWP refrigerants business. Organizations strategically position themselves by monitoring administrative developments and adapting their product portfolios to changing standards. Manufacturers who follow global and local regulations win market share. Active engagement with administrative authorities helps organizations to contribute to strategy creation, ensuring industry perspectives remain dynamic.

Cost is another factor in low-GWP refrigerant market share. As interest in eco-friendly options grows, manufacturers improve production techniques and achieve economies of scale to estimate accurately. This method is especially effective in gaining market share in areas where cost considerations strongly influence purchase decisions.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation   2023
Forecast Period   2024 to 2032
Growth Rate   2030: 11.12% CAGR

Low GWP Refrigerants Market Overview


Low GWP Refrigerants Market is projected to be worth USD 73.7 Billion by 2030, registering a CAGR of 11.12% during the forecast period (2024 - 2030). The main element raising the low GWP refrigerants market is the low environmental impact of low GWP refrigerants, phasing out of CFC, HCFC, and HFC refrigerants, and the growing demand for refrigerants and air conditioners across the world.


The hydrocarbon refrigerant has great thermodynamic properties and refrigerating and air-conditioning systems operating using these substances are highly energy-efficient, and hydrocarbon refrigerants are miscible with conventional refrigerating oils and have a relatively great critical temperature. These hydrocarbon refrigerants are flammable in nature and these also can be explosive. This is an important safety concern associated with the use of hydrocarbon refrigerants and hence, requires hermetically sealed systems with explosion protection for electric elements. The Montreal Protocol and Kyoto protocol have led to reducing the use of environmentally harmful refrigerants, especially in commercial refrigeration plants.


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


Low GWP Refrigerants Market


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).Recent Development


Plug-in equipment, like vending machines used in small stores and supermarkets that depend on hydrocarbons and CO2, have been there for a few years, and in large supermarkets, refrigeration (centralized system) CO2 cascade systems are an alternative to common HFC systems in moderate and cold climates. Hydrocarbon has also proven to be a highly efficient alternative in most uses under great ambient temperatures, except for large condensing units. The market for the low GWP refrigerants in Europe is projected to face a high increase in growth during the forecast period on account of the recent F-gas regulations phase-out plan that dictates the reduction of the use of HFC refrigerants by almost half by 2025. The areas also enjoy the greatest number of end-users who have already switched to refrigeration systems based on low GWP refrigerants. Recent Development


March 2023: The European Union (EU) announced a ban on the use of HFC refrigerants in new air conditioners and heat pumps from 2023. This is a major step towards phasing out HFCs, which are potent greenhouse gases.

April 2023: The United States Environmental Protection Agency (EPA) issued a rule requiring the use of low GWP refrigerants in new commercial refrigerators and freezers from 2024. This rule is expected to reduce greenhouse gas emissions by an estimated 1.3 billion metric tons over the next 30 years.

June 2023: The Chinese government announced a plan to phase out HFCs by 2030. This is a major commitment from China, which is the world's largest consumer of HFCs.

July 2023: The Kigali Amendment to the Montreal Protocol, which aims to phase down HFCs, came into force in India. This is a major milestone for the global effort to reduce greenhouse gas emissions.

Intended Audience



  • Low GWP refrigerant manufacturers

  • Traders and distributors of low GWP refrigerant

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories

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