Global R-125 refrigerant market is anticipated to grow at a CAGR of 1.8% during the forecast period (2024–2031). The market demand is driven by increasing demand for R125 refrigerant for commercial refrigerators, air conditioning, and an extinguisher. R-125 refrigerant (or hydrofluorocarbon (HFC) and pentafluoro ethane), is widely used as a refrigerant attributing to its favorable thermodynamic traits, including a low boiling point and high volumetric capacity. The rising application of R-125 refrigerant across different industries, including, finance, healthcare, and manufacturing is leading to market expansion.
However, the market is challenged by the fluctuation in prices owing to supply chain volatility. Also, the market competition from alternative refrigerants and technologies is affecting the market growth negatively.
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The HCFC-124 refrigerants segment is anticipated to hold the largest market segment during the forecast period, attributed to their low toxicity. HCFC-124 refrigerants are also nonflammable, noncorrosive, and compatible with other materials, which makes them ideal for a variety of applications, leading to segmental growth. Additionally, the low ozone depletion potential of HCFC-124 leads to segment growth.
Asia-Pacific is anticipated to hold the largest market share owing to the growing economy and increasing population in the region. This has led to an increased demand for refrigerants in the regional market. Other factors contributing to the regional market growth include increasing industrialization and employment, rising disposable income, and heavy investment in R&D activities by the major market players.
Market Coverage
· The market number available for 2023-2031
· Base year: 2023
· Forecast period: 2024-2031
· Segment Covered-
o By Type
o By Application
· Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape: Honeywell International, Inc., Mexichem S.A.B. de C.V. (Orbia), and The Chemours Company LLC, among others
Key questions addressed by the report
Global R-125 Refrigerant Market Report Segment
By Type
By Application
Global R-125 Refrigerant Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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