Aerosol Refrigerants Market
Report ID: SQMIG15D2005
Report ID: SQMIG15D2005
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Report ID:
SQMIG15D2005 |
Region:
Global |
Published Date: February, 2025
Pages:
199
|Tables:
90
|Figures:
69
Aerosol Refrigerants Market size was valued at USD 1.25 Billion in 2024 and is poised to grow from USD 1.31 Billion in 2025 to USD 1.85 Billion by 2033, growing at a CAGR of 4.4% during the forecast period (2026–2033).
Growing demand for HVAC (Heating, ventilation, and air conditioning) systems and refrigeration, growing demand for low-GWP refrigerants, high adoption of aerosol refrigerants in automotive air conditioning, expansion of cold chain logistics, and advancements in refrigerant technologies are slated to bolster the sales of aerosol refrigerants in the future.
Growing adoption of HVAC systems in industrial, commercial, and residential settings around the world is expected to boost the adoption of aerosol refrigerants going forward. Rising temperatures due to climate change and rapidly increasing urbanization around the world are also expected to favor market development. Governments and regulatory bodies are imposing stringent regulations on the use of refrigerants with high global warming potential (GWP) leading to high preference for low-GWP refrigerants such as hydrofluoroolefins (HFOs) and natural refrigerants.
Surging sales of vehicles around the world and growing need for better air conditioning in the same are also driving the sales of aerosol refrigerants. Rapid expansion of cold chain logistics industry for the transportation of temperature-sensitive goods such as food products is also expected to drive the global aerosol refrigerants market growth. Efforts to improve food preservation during transportation are also slated to benefit the demand for aerosol refrigerants through 2032.
Continuous research and development efforts of aerosol refrigerants companies have led to the creation of innovative refrigerants capable of offering better performance whilst having a low GWP. However, phasing out of hydrofluorocarbons (HFCs), safety concerns due to flammability, regulatory uncertainty, competition from alternative refrigeration technologies, lack of consumer awareness, and resistance to change are key constraints limiting the market development potential for aerosol refrigerants companies across the forecast period and beyond.
In July 2024, Honeywell, a multinational conglomerate focusing on different industry verticals announced that Actrol will utilise Honeywell's energy-efficient and low global warming potential (GWP) refrigerant Solstice L40X (R-455A). Actrol, a leading provider of commercial refrigeration solutions is utilizing Honeywell’s new refrigerant in condensing units and standalone refrigeration units. The move was made by Actrol to help Australia’s goal to reduce carbon emissions from high-GWP refrigerants by 85 per cent before 2036.
In September 2024, in a bid to improve sustainability through its novel refrigerant, Honeywell announced the launch of its “Direct to YF Retrofitting Program” in Europe. The initiative is aimed at replacing old refrigerants used in vehicle air conditioning with Honeywell’s Solstice® 1234yf. Under Europe’s F-Gas Regulation, the availability of R-134a and F-gases is diminishing which has led the automotive aftermarket to look for alternatives such as Honeywell’s Solstice yf. The retrofitting process for this low GWP refrigerant is also quite easy allowing for faster phasing out of high GWP refrigerants in the European region.
Sustainability is expected to emerge as one of the most important factors influencing the demand for aerosol refrigerants on a global level. Launching low GWP aerosol refrigerants is expected to be the prime focus of all market players. Collaborations to extend the distribution of low GWP aerosol refrigerants are also estimated to offer new business scope in the long run. Creating and launching aerosol refrigerants that are compliant with sustainability regulations is of the utmost importance for any company as per this global aerosol refrigerants market analysis.
Market snapshot - 2026-2033
Global Market Size
USD 1.2 billion
Largest Segment
Aluminum
Fastest Growth
Steel
Growth Rate
4.4% CAGR
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Global Aerosol Refrigerants Market is segmented by Product Type, Application, End-Use Industry and region. Based on Product Type, the market is segmented into Steel and Aluminum. Based on Application, the market is segmented into Commercial Refrigeration, Mobile Air Conditioning, Household Refrigeration and Industrial Refrigeration. Based on End-Use Industry, the market is segmented into Automotive, Food & Beverage, Pharmaceuticals and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Container Type
The aluminum segment is expected to account for a prominent share of the global aerosol refrigerants industry going forward. Aluminum containers possess excellent barrier properties against moisture and UV light, which is why this segment is slated to hold sway over others in the future. High corrosion resistance and the lightweight nature of aluminum containers are allowing this segment to bring in the most revenue for market players. High resistance to oxygen, carbon dioxide, hydrogen, and other gases offered by aluminum containers is also expected to drive its preference among aerosol refrigerants companies in the long run.
On the other hand, the demand for steel is slated to account for the second-largest global aerosol refrigerants market share in the future. High strength and low costs of steel containers for storing and transporting aerosol refrigerants is helping this segment generate new business scope. Easy recyclability of steel containers is making them popular as emphasis on sustainability and energy efficiency rises around the world. High durability offered by steel containers at a low cost is also expected to help this segment offer new money-making opportunities for aerosol refrigerant suppliers across the forecast period and beyond.
Analysis by End Use
The residential segment is anticipated to account for the highest global aerosol refrigerants market share going forward. Growing demand for better cooling solutions in residential buildings and rapid urbanization are slated to help this segment bring in the most revenue over the coming years. Rising use of air conditioners and advanced HVAC systems in residential buildings around the world is also expected to bolster the sales of aerosol refrigerants over the coming years. High emphasis on energy-efficiency and cost-effectiveness among consumers is also projected to bolster the adoption of aerosol refrigerants via this segment through 2032.
Meanwhile, the sales of aerosol refrigerants through commercial end use are estimated to increase at a notable CAGR over the coming years. Growing emphasis on energy efficiency and sustainability in commercial establishments are projected to bolster the demand for aerosol refrigerants in the future. Increasing need for better refrigeration and cooling solutions in hypermarkets, offices, and other commercial spaces are also slated to open up new avenues of business via this segment. Growing commercial infrastructure development and rising use of advanced HVAC systems in the same is also estimated to favor the global aerosol refrigerants industry development in the long run.
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The Asia Pacific region is slated to spearhead the demand for aerosol refrigerants on a global level through 2032. Rapid urbanization, growing disposable income, and rising need for refrigeration and cooling equipment in industries are expected to bolster the dominance of this region in the future. China and India are slated to emerge as the most opportune countries for aerosol refrigerant suppliers operating in this region. Rising adoption of advanced HVAC systems and growing emphasis on reducing the carbon footprint of refrigerants are expected to boost the sales of aerosol refrigerants in the countries. Japan, South Korea, and Indonesia are also forecasted to witness a notable rise in adoption of aerosol refrigerants going forward.
North America is estimated to account for the second-largest global aerosol refrigerants market share in the future. High consumer spending potential, expansion of cold chain logistics for food preservation, and presence of leading refrigeration providers are offering new opportunities in this region.
The United States is slated to bring in the most revenue for aerosol refrigerant companies operating in this region owing to the imposition of stringent environmental regulations for refrigerant use and rapid adoption of advanced refrigeration technologies and refrigerants. Canada is also expected to witness a substantial rise in adoption of aerosol refrigerants in the long run.
The demand for aerosol refrigerants in Europe is expected to be relatively low as compared to other regions going forward. High emphasis on sustainability and bans on use of high GWP refrigerants are expected to impede the adoption of aerosol refrigerants in this region. However, demand for natural refrigerants in this region is expected to offer some opportunities for aerosol refrigerants suppliers. Germany and the United Kingdom are slated to be the most rewarding countries in the European region owing to high use of aerosol refrigerants in vehicle air conditioning and home air conditioning applications.
The use of aerosol refrigerants in the Middle East and Africa region is anticipated to rise at a notable CAGR over the coming years. Rapid urbanization in this region coupled with the presence of multiple countries with high temperature living conditions necessitates the use of aerosol refrigerants for air conditioning and cooling. Saudi Arabia, the United Arab Emirates, Qatar, and Kuwait are some of the leading countries where the demand for aerosol refrigerants in commercial and residential cooling systems is high.
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Aerosol Refrigerants Market Drivers
High Demand for DIY Refrigerants
Surging Adoption of Smart and Energy-Efficient HVAC Systems
Aerosol Refrigerants Market Restraints
Safety Concerns and Flammability
Competition from Alternative Refrigeration Technologies
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Aerosol refrigerant companies should focus on reducing the GWP of their offerings to stand out from the competition and improve sales. Investing in R&D is expected to be crucial for the creation of innovative new aerosol refrigerants. Countries with rapid industrialization and urbanization are estimated to offer lucrative opportunities for companies across the global aerosol refrigerants market forecast.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing use of HVAC systems, rapid urbanization, and expansion of the cold chain logistics industry is estimated to boost the sales of aerosol refrigerants in the long run. On the contrary, safety concerns due to flammability issues and competition from alternative refrigeration technologies are expected to impede the adoption of aerosol refrigerants going forward. The Asia Pacific region is forecasted to account for a dominant share of the global aerosol refrigerants industry owing to rapid urbanization and industrialization coupled with a high emphasis on reducing the environmental impact of refrigerants. Aluminum containers are expected to be used extensively for the storage and transportation of aerosol refrigerants. Investing in R&D to develop and launch new aerosol refrigerants with lower environmental impact is slated to be a key opportunity for market players in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 1.25 Billion |
| Market size value in 2033 | USD 1.85 Billion |
| Growth Rate | 4.4% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Aerosol Refrigerants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aerosol Refrigerants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aerosol Refrigerants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aerosol Refrigerants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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