Which is the fastest growing region in Aerosol Refrigerants Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Aerosol Refrigerants Market?

In 2024, the Asia Pacific accounts for the largest market share in Aerosol Refrigerants Market. Read More

What years does this Aerosol Refrigerants Market cover?

The report covers the Aerosol Refrigerants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aerosol Refrigerants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Aerosol Refrigerants Market Size

Market Size of Aerosol Refrigerants Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
CAGR	4.00 %
Fastest Growing Market	Asia Pacific
Largest Market	Asia Pacific
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Aerosol Refrigerants Market Analysis

The global market for aerosol refrigerants is expected to grow at a CAGR of about 4% , during the forecast period. Major factor driving the market studied is rising need for refrigerators, air conditioners, and chillers. On the flip side, HFCs being potent greenhouse gases with high global warming potential (GWP) and long lifetimes, is hindering the growth of the market.

Urbanization & commercialization of countries in the Asia-Pacific and Africa region is expected to offer various opportunities for the growth of the market.
Asia-Pacific dominated the market across the world, owing to the rapidly growing construction and automotive industries.

Aerosol Refrigerants Industry Segmentation

The Aerosol Refrigerants Market report includes:

Product
		HFC-143a
		HFC-32
		HFC-125
		SF6
		Others

End-user Industry
		Residential
		Commercial
		Industrial
		Transportation

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	Rest of Asia-Pacific

North America
	United States
	Mexico
	Canada

Europe
	Germany
	United Kingdom
	Italy
	France
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle-East and Africa

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Aerosol Refrigerants Market Size Summary

The aerosol refrigerants market is poised for steady growth, driven by the increasing demand for refrigeration and air conditioning systems. This demand is particularly pronounced in the Asia-Pacific and Africa regions, where urbanization and commercialization are creating new opportunities. The Asia-Pacific region, in particular, is a dominant force in the market, fueled by the burgeoning construction and automotive sectors. However, the market faces challenges due to the environmental impact of hydrofluorocarbons (HFCs), which are potent greenhouse gases. Regulatory measures, such as the Kigali Amendment to the Montreal Protocol, are pushing for the replacement of HFCs with more environmentally friendly alternatives, potentially hindering market growth.

The global HVAC equipment market, which is closely linked to the aerosol refrigerants market, is also expected to experience growth, driven by factors such as increased household formation, rising construction spending, and growing disposable incomes. The demand for HVAC systems is particularly strong in the Asia-Pacific region, where rapid urbanization and commercial expansion are prevalent. In China and India, economic growth and changing consumer preferences are further propelling the market for aerosol refrigerants. Despite challenges from international trade issues and geopolitical tensions, the market is expected to recover and expand in the latter part of the forecast period. The market is partially consolidated, with major players like Arkema Group, Honeywell International Inc., and DAIKIN INDUSTRIES, Ltd. holding significant market shares.

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Aerosol Refrigerants Market Size - Table of Contents

1. Market Dynamics
1. 1.1 Drivers
  1. 1.1.1 Rising Need for Refrigerators, Air Conditioners, and Chillers
  2. 1.1.2 Other Drivers
2. 1.2 Restraints
  1. 1.2.1 HFCs as Potent Greenhouse Gases with High Global Warming Potential (GWP)
  2. 1.2.2 Other Restraints
3. 1.3 Industry Value Chain Analysis
4. 1.4 Porters Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products and Services
  5. 1.4.5 Degree of Competition
5. 1.5 Regulatory Policies
2. Market Segmentation
1. 2.1 Product
  1. 2.1.1 HFC-143a
  2. 2.1.2 HFC-32
  3. 2.1.3 HFC-125
  4. 2.1.4 SF6
  5. 2.1.5 Others
2. 2.2 End-user Industry
  1. 2.2.1 Residential
  2. 2.2.2 Commercial
  3. 2.2.3 Industrial
  4. 2.2.4 Transportation
3. 2.3 Geography
  1. 2.3.1 Asia-Pacific
    1. 2.3.1.1 China
    2. 2.3.1.2 India
    3. 2.3.1.3 Japan
    4. 2.3.1.4 South Korea
    5. 2.3.1.5 Rest of Asia-Pacific
  2. 2.3.2 North America
    1. 2.3.2.1 United States
    2. 2.3.2.2 Mexico
    3. 2.3.2.3 Canada
  3. 2.3.3 Europe
    1. 2.3.3.1 Germany
    2. 2.3.3.2 United Kingdom
    3. 2.3.3.3 Italy
    4. 2.3.3.4 France
    5. 2.3.3.5 Rest of Europe
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 Saudi Arabia
    2. 2.3.5.2 South Africa
    3. 2.3.5.3 Rest of Middle-East and Africa

Aerosol Refrigerants Market Size FAQs

What is the current Aerosol Refrigerants Market size?

The Aerosol Refrigerants Market is projected to register a CAGR of 4% during the forecast period (2024-2029)

Who are the key players in Aerosol Refrigerants Market?

Arkema Group, Groupe Gazechim, Honeywell International Inc., The Chemours Company and DAIKIN INDUSTRIES, Ltd. are the major companies operating in the Aerosol Refrigerants Market.