South Korea Inorganic Refrigerant Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The South Korean inorganic refrigerant market has witnessed significant growth as industries are increasingly prioritizing sustainability and eco-friendly alternatives to traditional refrigerants. Inorganic refrigerants, which typically include ammonia and carbon dioxide, are gaining traction in sectors such as refrigeration, air conditioning, and food storage. These refrigerants are favored for their low environmental impact, efficiency, and performance under extreme conditions, making them a key component in meeting regulatory standards for reducing greenhouse gas emissions.
Ammonia, widely used in industrial refrigeration, is a primary inorganic refrigerant in South Korea due to its high efficiency and low global warming potential (GWP). It is especially beneficial in large-scale refrigeration systems found in industries like food processing, chemicals, and cold storage. Carbon dioxide, another prominent inorganic refrigerant, is becoming popular for commercial refrigeration systems due to its natural properties and lower toxicity compared to synthetic refrigerants. The shift towards these refrigerants aligns with South Korea’s environmental policies aimed at reducing harmful emissions and mitigating climate change.
Industries in South Korea require refrigerants that offer both energy efficiency and environmental safety. As the demand for sustainable refrigeration solutions rises, there is a significant need for equipment designed to accommodate inorganic refrigerants. This includes the development of new refrigeration systems that can handle the unique properties of ammonia and carbon dioxide. Additionally, industrial players are seeking refrigerants that comply with international standards such as the Kigali Amendment, which calls for phasing out high-GWP refrigerants.
As part of this transition, industries must adapt to various challenges such as the need for advanced leak detection systems and safety protocols when handling ammonia. Moreover, the cost of switching to inorganic refrigerants can be high, requiring industries to invest in new equipment and technologies. Despite these challenges, the long-term benefits of using inorganic refrigerants, such as lower operating costs and compliance with regulatory standards, outweigh the initial investment.
With the growing emphasis on sustainability, the South Korean inorganic refrigerant market is expected to continue expanding, with increasing adoption in sectors ranging from food and beverage to pharmaceuticals. Inorganic refrigerants are not only a better choice for the environment but also offer a competitive advantage to businesses aiming for energy efficiency and lower carbon footprints.
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Air Liquide (Airgas Refrigerants Inc.)
Linde Group
Dongyue Group
Chemours Company
Sinochem Corporation
Harp International
Gas Servei S.A
Refrigerant Solutions
Mexichem S.A.B. De C.V
Asahi Glass
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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.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Inorganic Refrigerant Market
Ammonia (NH3)
Carbon Dioxide (CO2)
Water (H2O)
Air
Residential Cooling
Commercial Refrigeration
Industrial Refrigeration
Aerospace and Automotive
Chillers
Heat Pumps
Split Systems
Industrial Refrigeration Systems
Single Component Refrigerants
Blended Refrigerants
Binary Mixtures
Custom Formulated Refrigerants
Direct Recovery Systems
Reclamation Processes
Destruction Methods
Alternative Green Solutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Inorganic Refrigerant 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 Inorganic Refrigerant Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Inorganic Refrigerant Market, By Type
6. South Korea Inorganic Refrigerant Market, By Application
7. South Korea Inorganic Refrigerant Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Inorganic Refrigerant Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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