South Korea R32 Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.6 Billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030.
The R32 market in South Korea has witnessed substantial growth in recent years due to its increasing demand across multiple industries. The adoption of R32, a hydrofluoroolefin (HFO) refrigerant, is becoming a key component for businesses looking to improve energy efficiency and reduce their carbon footprint. Industries such as HVAC (heating, ventilation, and air conditioning), refrigeration, and automotive are leading the way in the use of R32, making it a significant player in the South Korean market.
One of the primary reasons for the R32 refrigerant's popularity is its environmental benefits. Unlike traditional refrigerants like R22, R32 has a lower Global Warming Potential (GWP), which makes it a more sustainable option for industries. It is seen as a direct replacement for older refrigerants, contributing to a greener approach to energy use. As South Korea continues to strengthen its environmental regulations, industries are increasingly required to meet these standards, driving the demand for more eco-friendly refrigerants like R32.
From an industrial perspective, R32's application in HVAC systems has been particularly notable. HVAC systems, essential for both residential and commercial properties, account for a significant portion of the energy consumption in South Korea. With R32’s lower environmental impact, its adoption in air conditioners and other cooling systems has been embraced by companies eager to meet both regulatory and sustainability goals. Furthermore, R32’s higher energy efficiency translates to lower electricity consumption, offering businesses long-term savings on operational costs.
In the refrigeration industry, R32 is being used to improve the efficiency of food storage systems. The adoption of R32 in refrigeration has enabled businesses in the food processing and retail sectors to optimize cooling systems. Given South Korea's strong manufacturing and export-driven economy, the demand for improved refrigeration methods remains high, pushing the market further toward R32 adoption.
Moreover, automotive manufacturers are exploring the use of R32 in air conditioning systems for vehicles. This shift is part of a broader effort to align with global trends towards more eco-friendly refrigerants, especially with electric vehicles becoming more popular in South Korea.
As the R32 market continues to evolve, industries across South Korea are increasingly looking to this refrigerant to meet both operational needs and environmental regulations. The demand is expected to rise steadily in the coming years, making R32 a staple in various sectors and ensuring its long-term role in South Korea's industrial landscape.
Get an In-Depth Research Analysis of the South Korea R32 Market Size And Forecast [2025-2032]
Â
Daikin
Kaltra
Linde
Shandong Dongyue Chemical
Quzhou Juxin
Zhejiang Sanmei Chemical
Dongying Chemical
Zibo Feiyuan Chemical
Â
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the South Korea R32 Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea R32 Market
Single-family homes
Multi-family units
Condos and Apartments
Office buildings
Retail spaces
Hospitality sector (hotels, restaurants)
Manufacturing facilities
Warehouses and Distribution centers
Processing plants
OEM manufacturers
Aftermarket suppliers
Electric and hybrid vehicle manufacturers
Air conditioning systems
Refrigeration units
Heat pumps
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea R32 Market Research Analysis
1. Introduction of the South Korea R32 Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea R32 Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea R32 Market, By Type
6. South Korea R32 Market, By Application
7. South Korea R32 Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea R32 Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/