According to Cognitive Market Research, the global refrigerants market size was USD 6415.2 million in 2024. It will rise at a compound annual growth rate (CAGR) of 7% between 2024 and 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2566.1 million in 2024 and will climb at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1924.6 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1475.5 million in 2024 and will climb at a compound annual growth rate (CAGR) of 9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 320.8 million in 2024 and will climb at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 128.3 million in 2024 and will climb at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The air conditioning systems are the fastest-growing application category of the refrigerants industry.
