Europe Refrigerants Market was valued at USD 11.52 Billion in 2022 and is projected to reach USD 16.20 Billion by 2030, growing at a CAGR of 4.8% from 2024 to 2030.
The European refrigerants market is undergoing a transformative phase, driven by stringent environmental regulations and the pressing need for sustainable cooling solutions. This shift has significant implications for various industries that rely heavily on refrigeration and air conditioning systems.
Dominant Refrigerant Types in Europe
Hydrofluorocarbons (HFCs): Once prevalent due to their efficiency, HFCs are now under scrutiny because of their high Global Warming Potential (GWP). Regulatory measures are pushing for their phasedown.
Hydrofluoroolefins (HFOs): Emerging as eco-friendly alternatives, HFOs have a lower GWP and are gaining traction in various applications.
Natural Refrigerants: Substances like ammonia (NH₃), carbon dioxide (CO₂), and hydrocarbons (e.g., propane, isobutane) are being adopted for their minimal environmental impact.
Industry-Specific Refrigerant Requirements
Food and Beverage Industry: This sector demands precise temperature control to maintain product quality and safety. The industry's reliance on refrigeration is paramount, as it ensures the freshness and safety of perishable goods. The European industrial refrigeration market is characterized by a diverse range of cooling solutions catering to various capacities.
Pharmaceutical Industry: The pharmaceutical industry requires low-temperature conditions for the transport and storage of drugs. Factors such as the shift to biologics, as well as growing specialty pharmaceuticals and insulin products & vaccines, are fueling the demand for refrigerants in this industry in developing Asian economies.
Logistics and Cold Chain: With the rise of e-commerce and global trade, efficient cold chain systems are vital. Refrigerants that offer energy efficiency and reliability are essential to meet the demands of this sector.
Regulatory Landscape and Its Impact
Europe's commitment to environmental sustainability is evident through policies like the F-gas regulation, which aims to reduce the use of high-GWP refrigerants. Systems using refrigerants with a GWP value equal to or above the defined limit may no longer be placed on the market after specific cut-off dates, varying by system type. Contrary to popular perception, the new F-gas regulation does not mandate an immediate ban on fluorinated refrigerants. In building applications, certain fluorinated refrigerants continue to meet a wide range of safety and performance requirements.
Market Trends and Future Outlook
The European refrigerants market is projected to experience significant growth, driven by the increasing emphasis on energy efficiency and sustainability. The market size is expected to reach USD 4.66 billion by 2030, with a growth rate of 4.50% during the forecast period. This growth is attributed to the rising demand for energy-efficient refrigeration systems and the implementation of environmental regulations promoting the use of low-GWP refrigerants.
In conclusion, the European refrigerants market is at a pivotal juncture, balancing industrial demands with environmental imperatives. Industries must adapt to this evolving landscape by embracing sustainable refrigerant options and aligning with regulatory frameworks to ensure both operational efficiency and ecological responsibility.
Get an In-Depth Research Analysis of the Europe Refrigerants Market Size And Forecast [2025-2032]
Chemours Company
Honeywell International Inc
Arkema S.A.
Dongyue Group Co. Ltd
Asahi Glass Co.
Ltd.
Daikin Industries Ltd.
Sinochem Corporation
Mexichem S.A.B. de C.V.
The Linde Group
SRF Ltd.
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 Europe Refrigerants Market
Hydrochlorofluorocarbons (HCFCs)
Hydrofluorocarbons (HFCs)
Natural Refrigerants
PFCs (Perfluorocarbons)
Commercial Refrigeration
Residential Refrigeration
Industrial Refrigeration
Transport Refrigeration
Chillers
Food and Beverage Industry
Pharmaceutical Sector
HVAC Systems
Aerospace and Defense
Automotive Industry
Single Component Refrigerants
Blended Refrigerants
Refrigerant Mixtures
Direct Sales
Distributors and Wholesalers
Online Sales Platforms
Retail Stores
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Refrigerants 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. Europe Refrigerants Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Refrigerants Market, By Type
6. Europe Refrigerants Market, By Application
7. Europe Refrigerants Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Refrigerants Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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