Report Details
Introduction
Market Valuation and Growth Projection: The Southeast Asia refrigerant market is valued at approximately USD 1.12 billion in 2024 and is expected to reach nearly USD 1.81 billion by 2032, showcasing steady growth driven by expanding HVAC demand and industrial applications in the region.
Steady CAGR Outlook: The market is anticipated to grow at a compound annual growth rate (CAGR) of around 5.8% from 2025 to 2032, reflecting increasing regulatory emphasis on energy-efficient and environmentally friendly refrigerants.
Key Market Drivers: Rising urbanization, climate change awareness, and technological advancements in refrigeration systems are propelling market expansion across residential, commercial, and industrial sectors in Southeast Asia.
Value Chain Analysis – Southeast Asia Refrigerant Market
- Raw Material Sourcing: Key raw materials include hydrofluorocarbons (HFCs), hydrochlorofluorocarbons (HCFCs), and natural refrigerants, sourced from global chemical manufacturers with a growing shift towards low-GWP alternatives.
- Manufacturing and Production: Production involves complex chemical synthesis and blending processes, with companies investing in advanced technologies to improve efficiency and comply with stringent environmental regulations in Southeast Asia.
- Regulatory Compliance: Compliance with regional and international standards such as the Kigali Amendment and local environmental policies is critical, influencing product formulation and market accessibility.
- Distribution and Logistics: Efficient supply chain management ensures timely delivery across diverse geographic locations, including urban centers and remote areas, supported by partnerships with logistics providers familiar with local markets.
- Marketing and Sales: Market players focus on targeted marketing strategies highlighting refrigerant performance and environmental benefits, catering to HVAC manufacturers, automotive sectors, and industrial refrigeration clients.
- After-Sales Support and Services: Providing technical support, training on safe refrigerant handling, and maintenance services strengthens customer relationships and ensures compliance with safety standards.
- End-Use Applications: Refrigerants are utilized in residential and commercial air conditioning, refrigeration systems, automotive air conditioning, and industrial cooling, driving diverse demand across Southeast Asia.
Market Segmentation: Southeast Asia Refrigerant Market
By Refrigerant Type
• Hydrofluorocarbons (HFCs)
• Hydrochlorofluorocarbons (HCFCs)
• Natural Refrigerants (e.g., Ammonia, CO₂, Hydrocarbons)
• Others
By Application
• Residential Air Conditioning
• Commercial Air Conditioning
• Industrial Refrigeration
• Automotive Air Conditioning
• Others
By End-Use Industry
• HVAC Industry
• Automotive Industry
• Food & Beverage Industry
• Pharmaceutical Industry
• Others
Market Segmentation: By Region – Global Refrigerant Market
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Market Segmentation: By Country (Within Southeast Asia)
• Indonesia
• Malaysia
• Thailand
• Vietnam
• Philippines
• Singapore
• Myanmar
• Cambodia
Key Players – Southeast Asia Refrigerant Market
• The Chemours Company (U.S.)
• Honeywell International Inc. (U.S.)
• Daikin Industries, Ltd. (Japan)
• Linde plc (Ireland/Germany)
• Mexichem S.A.B. de C.V. (Mexico)
• Arkema S.A. (France)
• SRF Limited (India)
• Gujarat Fluorochemicals Ltd. (India)
• Solvay S.A. (Belgium)
• Koura Global (U.S.)
Table of Contents (TOC)
1. Introduction
2. Market Overview
3. Market Segmentation
3.1 By Refrigerant Type
3.1.1 Hydrofluorocarbons (HFCs)
3.1.2 Hydrochlorofluorocarbons (HCFCs)
3.1.3 Natural Refrigerants (e.g., Ammonia, CO₂, Hydrocarbons)
3.1.4 Others
3.2 By Application
3.2.1 Residential Air Conditioning
3.2.2 Commercial Air Conditioning
3.2.3 Industrial Refrigeration
3.2.4 Automotive Air Conditioning
3.2.5 Others
3.3 By End-Use Industry
3.3.1 HVAC Industry
3.3.2 Automotive Industry
3.3.3 Food & Beverage Industry
3.3.4 Pharmaceutical Industry
3.3.5 Others
4. Regional Market Analysis
4.1 Southeast Asia
4.1.1 Indonesia
4.1.2 Malaysia
4.1.3 Thailand
4.1.4 Vietnam
4.1.5 Philippines
4.1.6 Singapore
4.1.7 Myanmar
4.1.8 Cambodia
4.2 Global Refrigerant Market Overview
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East & Africa
4.2.5 South America
5. Competitive Landscape
5.1 Company Profiles
5.1.1 The Chemours Company (U.S.)
5.1.2 Honeywell International Inc. (U.S.)
5.1.3 Daikin Industries, Ltd. (Japan)
5.1.4 Linde plc (Ireland/Germany)
5.1.5 Mexichem S.A.B. de C.V. (Mexico)
5.1.6 Arkema S.A. (France)
5.1.7 SRF Limited (India)
5.1.8 Gujarat Fluorochemicals Ltd. (India)
5.1.9 Solvay S.A. (Belgium)
5.1.10 Koura Global (U.S.)
6. Market Trends and Insights
7. Market Forecast and Future Outlook
8. Appendix
9. References
Market Segmentation: Southeast Asia Refrigerant Market
By Refrigerant Type
• Hydrofluorocarbons (HFCs)
• Hydrochlorofluorocarbons (HCFCs)
• Natural Refrigerants (e.g., Ammonia, CO₂, Hydrocarbons)
• Others
By Application
• Residential Air Conditioning
• Commercial Air Conditioning
• Industrial Refrigeration
• Automotive Air Conditioning
• Others
By End-Use Industry
• HVAC Industry
• Automotive Industry
• Food & Beverage Industry
• Pharmaceutical Industry
• Others
Market Segmentation: By Region – Global Refrigerant Market
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Market Segmentation: By Country (Within Southeast Asia)
• Indonesia
• Malaysia
• Thailand
• Vietnam
• Philippines
• Singapore
• Myanmar
• Cambodia
Key Players – Southeast Asia Refrigerant Market
• The Chemours Company (U.S.)
• Honeywell International Inc. (U.S.)
• Daikin Industries, Ltd. (Japan)
• Linde plc (Ireland/Germany)
• Mexichem S.A.B. de C.V. (Mexico)
• Arkema S.A. (France)
• SRF Limited (India)
• Gujarat Fluorochemicals Ltd. (India)
• Solvay S.A. (Belgium)
• Koura Global (U.S.)
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Frequently Asked Questions
What’s driving the rapid growth of the refrigerant market in Southeast Asia today?
The surge in residential and commercial air conditioning, expanding cold chain logistics, and government incentives to phase down high-GWP refrigerants are propelling demand. Additionally, rising awareness of eco-friendly alternatives is transforming market dynamics across the region.
How are environmental regulations influencing refrigerant choices in Southeast Asia?
Stricter adherence to the Kigali Amendment and local policies is accelerating the shift from traditional HFCs and HCFCs to natural refrigerants like ammonia and CO₂. This transition supports climate goals while opening new avenues for innovative, sustainable refrigeration technologies.
Which refrigerant types are gaining traction in Southeast Asia, and why?
Natural refrigerants and low-GWP blends are rapidly replacing legacy chemicals due to their minimal environmental impact and regulatory compliance. Their superior energy efficiency and safety features are making them the preferred choice across HVAC, automotive, and industrial sectors.
How is the booming e-commerce and cold storage sector impacting refrigerant demand?
As Southeast Asia’s cold chain infrastructure expands to support food, pharmaceuticals, and e-commerce logistics, demand for advanced refrigerants optimized for industrial refrigeration is soaring. This growth fuels innovation in low-emission, high-performance refrigerant solutions.
What challenges and opportunities lie ahead for refrigerant manufacturers in Southeast Asia?
Manufacturers face challenges like regulatory compliance complexity, supply chain disruptions, and the need for technology upgrades. However, growing market awareness, supportive policies, and rising demand for sustainable cooling solutions offer significant growth opportunities.