Global Secondary Refrigerants Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Glycols, Salt Brines, Carbon Dioxide, and Others.

By Application;

Commercial Refrigeration, Industrial Refrigeration, Heat Pumps, and Air Conditioning.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn578360474 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Secondary Refrigerants Market (USD Million), 2021 - 2031

In the year 2024, the Global Secondary Refrigerants Market was valued at USD 742.05 million. The size of this market is expected to increase to USD 1,247.22 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.7%.

The global secondary refrigerants market has been gaining significant attention in recent years due to its vital role in enhancing the efficiency and sustainability of refrigeration systems. Secondary refrigerants, unlike primary refrigerants, do not directly undergo phase changes but are used to transfer heat from one medium to another. This characteristic makes them crucial in systems that require minimal environmental impact and improved energy efficiency. The market for secondary refrigerants is expanding as industries seek environmentally friendly and cost-effective solutions to meet stringent regulations and consumer demand for sustainable practices.

The growth of the secondary refrigerants market is primarily driven by increasing environmental regulations and the phase-out of ozone-depleting substances. Governments and international bodies are imposing stricter standards on the use of harmful refrigerants, encouraging the adoption of secondary refrigerants as a more sustainable alternative. Additionally, the growing demand for energy-efficient refrigeration systems in industries such as food and beverage, pharmaceuticals, and chemical manufacturing is propelling market expansion. These industries require refrigeration solutions that offer not only efficiency but also reduced greenhouse gas emissions, driving the adoption of secondary refrigerants.

Secondary refrigerants are utilized in a wide range of applications, including commercial refrigeration, industrial processes, and HVAC systems. In commercial refrigeration, they are employed to maintain optimal temperatures in supermarkets, cold storage facilities, and food processing units. In industrial applications, secondary refrigerants help maintain precise temperature control, which is critical for processes like chemical manufacturing and pharmaceuticals. The HVAC sector also benefits from secondary refrigerants, as they enable the design of systems with lower environmental impact and improved performance. The versatility and efficiency of secondary refrigerants make them indispensable in these applications.

The secondary refrigerants market is witnessing significant growth across various regions, with Europe leading the way due to stringent environmental regulations and a strong focus on sustainability. The European Union’s commitment to reducing carbon emissions and phasing out harmful refrigerants has accelerated the adoption of secondary refrigerants. North America is also experiencing growth, driven by technological advancements and the demand for energy-efficient refrigeration solutions. In the Asia-Pacific region, rapid industrialization and urbanization are contributing to market expansion, as industries seek to modernize their refrigeration systems with environmentally friendly alternatives. Overall, the global secondary refrigerants market is poised for substantial growth, driven by a combination of regulatory pressure and technological innovation.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Secondary Refrigerants Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Environmental Regulations
        2. Energy Efficiency
        3. Industrial Growth
      2. Restraints
        1. High Initial Costs
        2. Limited Awareness
        3. Technological Limitations
      3. Opportunities
        1. Innovation in Refrigerants
        2. Emerging Markets
        3. Renewable Energy Integration
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Secondary Refrigerants Market, By Type, 2021 - 2031 (USD Million)
      1. Glycols
      2. Salt Brines
      3. Carbon Dioxide
      4. Others
    2. Global Secondary Refrigerants Market, By Application, 2021 - 2031 (USD Million)
      1. Commercial Refrigeration
      2. Industrial Refrigeration
      3. Heat Pumps
      4. Air Conditioning
    3. Global Secondary Refrigerants Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. The Dow Chemical Company
      2. Eastman Chemical Company
      3. Clariant AG
      4. Arteco Coolants
      5. Temper Technology AB
  7. Analyst Views
  8. Future Outlook of the Market