Product Code: GVR-4-68040-532-3
Secondary Refrigerants Market Growth & Trends:
The global secondary refrigerants market size is anticipated to reach USD 1.25 billion by 2030, growing at a CAGR of 7.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. The market is driven by increasing regulations on high-GWP primary refrigerants, pushing industries toward sustainable cooling solutions. Growth in cold chain logistics, industrial refrigeration, and HVAC applications further boosts demand for energy-efficient heat transfer fluids like glycols and CO? brines. Additionally, the rise of district heating and heat pump adoption supports market expansion.
The glycols segment dominated the market with a largest revenue share. The glycols secondary refrigerants market is driven by increasing demand for energy-efficient and environmentally friendly cooling solutions in industries like HVAC, food processing, and pharmaceuticals.
The heat pumps end-use segment dominated the market with a largest revenue share and expected to register significant growth. Heat pumps utilize fluids like glycols, CO? brines, and salt solutions to transfer heat efficiently in HVAC, industrial cooling, and district heating applications. These systems enhance energy efficiency by enabling indirect refrigeration, reducing reliance on high-GWP primary refrigerants. Growing demand for sustainable heating and cooling solutions, especially in residential and commercial sectors, is driving market expansion.
Asia Pacific dominated the market with a largest market share in 2024. This growth is attributed to increasing industries such as food processing, pharmaceuticals, and HVAC are adopting secondary refrigerants like glycol-based solutions and CO? brines to enhance sustainability and system efficiency. Rising investments in cold chain logistics and industrial refrigeration further drive market expansion.
Some of the prominent players in the cryogenic gases market include Dow, Tazzetti S.P.A., Evonik Industries, Eastman Chemical Company, Clariant, The Lubrizol Corporation, The Linde Group, Temper Technology Ab, BASF SE, and A-Gas International.
Secondary Refrigerants Market Report Highlights:
- Based on product, the glycols segment is expected to have the largest revenue share of 45.5% in 2024 and is expected to grow due to ethylene and propylene glycol-based solutions are widely used for their heat transfer properties, low toxicity (for propylene glycol), and compatibility with various refrigeration systems. Stringent regulations on primary refrigerants and the expansion of cold chain infrastructure further support market growth
- Asia Pacific is the dominant region for the market with a revenue share of 50.7% in 2024. The Asia-Pacific secondary refrigerants market is growing due to increasing regulations on high-GWP refrigerants and the demand for energy-efficient cooling solutions
- In February 2022, Linde announced a long-term agreement with BASF to supply hydrogen and steam to BASF's new hexamethylenediamine (HMD) facility in Chalampe, France. As part of this agreement, Linde will design, build, own, and operate a second hydrogen production plant at the Chalampe chemical park, effectively doubling its existing capacity at the site. The new plant is expected to commence operations in the first half of 2024 and will also serve Linde's local merchant customers, addressing the growing demand for hydrogen in the region
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Global Secondary Refrigerants Market Outlook
- 3.2. Value Chain Analysis
- 3.2.1. Raw Material Outlook
- 3.2.2. Industrial Refrigeration/Product Outlook
- 3.2.3. Sales Channel Analysis
- 3.3. Price Trend Analysis
- 3.3.1. Factors Influencing Prices
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliances
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenges Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Product
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Secondary Refrigerants Market: Product Estimates & Trend Analysis
- 4.1. Secondary Refrigerants Market: Product Movement Analysis, 2023 & 2030
- 4.2. Glycols
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3. Salt Brines
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Carbon Dioxide
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Other Products
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Secondary Refrigerants Market: End Use Estimates & Trend Analysis
- 5.1. Secondary Refrigerants Market: End Use Movement Analysis, 2023 & 2030
- 5.2. Commercial Refrigeration
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3. Industrial Refrigeration
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Heat Pumps
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Air Conditioning
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Other End Uses
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Secondary Refrigerants Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2023 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.2.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.2.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3.6. France
- 6.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3.7. Italy
- 6.3.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.7.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.7.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.3.8. Spain
- 6.3.8.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.3.8.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.3.8.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.4.7. South Korea
- 6.4.7.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.4.7.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.5.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.5.5. Argentina
- 6.5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.5.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.6.4. Saudi Arabia
- 6.6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.6.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
- 6.6.5. South Africa
- 6.6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 6.6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
- 6.6.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Heat Map Analysis
- 7.4. Company Market Positioning Analysis, 2024
- 7.5. Strategy Mapping
- 7.6. Company Profiles/Listing
- 7.6.1. Dow
- 7.6.1.1. Company Overview
- 7.6.1.2. Financial Performance
- 7.6.1.3. Product Benchmarking
- 7.6.2. Tazzetti S.P.A.
- 7.6.2.1. Company Overview
- 7.6.2.2. Financial Performance
- 7.6.2.3. Product Benchmarking
- 7.6.3. Emeron Electric Co.
- 7.6.3.1. Company Overview
- 7.6.3.2. Financial Performance
- 7.6.3.3. Product Benchmarking
- 7.6.4. Eastman Chemical Company
- 7.6.4.1. Company Overview
- 7.6.4.2. Financial Performance
- 7.6.4.3. Product Benchmarking
- 7.6.5. Argana Group
- 7.6.5.1. Company Overview
- 7.6.5.2. Financial Performance
- 7.6.5.3. Product Benchmarking
- 7.6.6. The Lubrizol Corporation
- 7.6.6.1. Company Overview
- 7.6.6.2. Financial Performance
- 7.6.6.3. Product Benchmarking
- 7.6.7. The Linde Group
- 7.6.7.1. Company Overview
- 7.6.7.2. Financial Performance
- 7.6.7.3. Product Benchmarking
- 7.6.8. Temper Technology Ab
- 7.6.8.1. Company Overview
- 7.6.8.2. Financial Performance
- 7.6.8.3. Product Benchmarking
- 7.6.9. BASF SE
- 7.6.9.1. Company Overview
- 7.6.9.2. Financial Performance
- 7.6.9.3. Product Benchmarking
- 7.6.10. Tazzetti S.P.A.
- 7.6.10.1. Company Overview
- 7.6.10.2. Financial Performance
- 7.6.10.3. Product Benchmarking
- 7.6.11. A-Gas International
- 7.6.11.1. Company Overview
- 7.6.11.2. Financial Performance
- 7.6.11.3. Product Benchmarking