Secondary Refrigerants Market Size, Share & Trends Analysis Report By Product (Glycols, Salt Brines, Carbon Dioxide), By End-use (Commercial Refrigeration, Industrial Refrigeration, Heat Pumps, Air Conditioning), By Region, And Segment Forecasts, 2025 - 2030

Secondary Refrigerants Market Trends

The global secondary refrigerants market size was valued at USD 814.81 million in 2024 and is projected to grow at a CAGR of 7.5% from 2025 to 2030. The industry is expected to experience significant growth due to rising demand for energy-efficient cooling systems. Government regulations aimed at reducing greenhouse gas emissions and the increasing adoption of sustainable cooling technologies are primary drivers of the market.

Secondary refrigerants are liquids that transmit heat from the substance being cooled to the heat exchanger, where the primary refrigerant absorbs the heat. Typically, secondary refrigerants are non-corrosive, non-toxic, incombustible, inexpensive, and chemically stable. They possess several advantageous properties, including high specific heat, excellent heat transfer characteristics, low viscosity, and enhanced safety during use. Additionally, secondary refrigerants help to reduce harmful environmental impacts.

Secondary refrigerants, such as propylene glycol, calcium chloride brine, and oils, are utilized in various low-temperature applications, including commercial refrigeration, industrial refrigeration, and heat pumps. Chilled water is a secondary refrigerant in high-temperature applications, such as air conditioning. Additionally, these refrigerants help minimize pressure losses in the vapor compression cycle, thereby increasing efficiency. They are widely employed across several end-user industries, including food and beverages, oil and gas, chemicals, pharmaceuticals, and plastics.

Drivers, Opportunities & Restraints

The increasing global demand for energy-efficient cooling systems is a significant factor driving the growth of the secondary refrigerant market. Secondary refrigerants provide superior energy efficiency compared to traditional refrigerants, such as chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs), which are being phased out due to their negative environmental impact. The rising adoption of energy-efficient cooling systems across various industries, including data centers, healthcare facilities, and food and beverage processing, is expected to further boost the demand for secondary refrigerants in the coming years.

High investment in the initial stage can lead to financial strain and increased risk for businesses, which may deter potential investors or new entrants into the market. This can create entry barriers and slow innovation as companies focus on replacing their initial costs instead of expanding their offerings or improving services. Consequently, the market's growth may be stunted due to these financial constraints and reduced competition.

The industry presents significant opportunities driven by the growing demand for energy-efficient cooling solutions across various industries. With increasing emphasis on sustainability and environmental regulations, alternatives like glycols and brines are gaining traction for their effective thermal management properties. Additionally, technological advancements and the expansion of cold chain logistics are further fueling the market's growth potential. As businesses seek reliable and cost-effective cooling options, the secondary refrigerants market is poised for expansion.

Product Insights

The glycols segment accounted for the largest revenue market share, 45.5%, in 2024 and is expected to continue to dominate the industry over the forecast period. The effectiveness of glycols in providing freeze protection for closed-loop ventilation, refrigeration systems, air conditioning (HVAC), water-based heating, and cooling systems is driving demand in the market.

Carbon dioxide (CO2) is increasingly recognized as a sustainable and eco-friendly option in the secondary refrigerant market. It operates efficiently at low temperatures and is non-toxic, making it suitable for various applications, including food preservation and commercial refrigeration. Additionally, compared to many traditional refrigerants, CO2 has a low global warming potential, aligning with environmental regulations and sustainability goals.

End-use Insights

The heat pumps segment dominated the market with a revenue share of 16.2% in 2024. Heat pumps serve as a key application segment in the secondary refrigerant market by efficiently transferring heat from one area to another, often using a refrigerant to facilitate the process. They can be used for heating and cooling, making them versatile in residential and commercial applications. By leveraging secondary refrigerants, heat pumps enhance energy efficiency and performance while reducing environmental impact.

Air conditioning represents a significant segment in the market, where secondary refrigerants transfer heat away from the cooling loads. These refrigerants, often water or glycol solutions, facilitate efficient temperature regulation in air conditioning systems, enhancing performance and energy efficiency. Using secondary refrigerants, systems can operate with lower energy costs and reduced environmental impact.

Regional Insights

North America secondary refrigerants market is experiencing growth. The North America region is expected to grow due to a rise in construction activity leading to a rise in demand for air conditioning in the region. The increasing food & beverage industry is also expected to positively impact the demand for products in the market.

U.S. Secondary Refrigerants Market Trends

Thesecondary refrigerants market in the U.S. is driven by a well-established industrial base and advancements in commercial refrigeration, heat pumps, and industrial refrigeration. Strong demand for secondary refrigerants in sectors such as food & beverage, commercial space, and industrial refrigeration support market growth.

Asia Pacific Secondary Refrigerants Market Trends

Thesecondary refrigerants market in Asia Pacific dominated the global market with a revenue share of 50.7% in 2024. The growing demand for refrigeration and air conditioning systems in countries like China and India supports this dominance. Additionally, the push for energy-efficient solutions and stricter environmental regulations further boosts the market's growth in this area. The increasing focus on sustainable practices also enhances the adoption of secondary refrigerants in various sectors.

China secondary refrigerants market is driven by rapid industrialization in metallurgy, chemicals, and food and beverage sectors. These industries rely on secondary refrigerants for processes such as cooling and preservation, further boosting market growth.

Europe Secondary Refrigerants Market Trends

The secondary refrigerants market in Europe is experiencing significant growth and is expected to expand the market substantially during the forecast period. Environmental regulations and government support initiatives drive this rapid growth. Additionally, the Asia Pacific region is anticipated to exhibit significant growth due to the development of the renewable energy sector and an increasing demand for refrigerants with low global warming potential (GWP) and ozone depletion potential (ODP), in line with government initiatives.

Latin America Secondary Refrigerants Market Trends

Thesecondary refrigerants market in Latin America is expected to grow, due to its growing industrial sector and the increasing demand for efficient cooling solutions. The region's focus on sustainable practices and regulatory support for eco-friendly refrigerants further strengthens its position in the global market.

Middle East & Africa Secondary Refrigerants Market

Thesecondary refrigerants market in the Middle East and Africa region is experiencing growth due to the rising demand for energy-efficient cooling solutions and the expansion of the industrial and commercial sectors. Additionally, increasing temperatures and a focus on sustainable practices drive the adoption of secondary refrigerants in various applications, including HVAC systems and food processing.

Key Secondary Refrigerants Company Insights

Some of the key players operating in the market include Dow and Linde Plc

• Linde plc is a global leader in industrial gases and engineering, providing high-purity gases, technologies, and solutions across various industries, including commercial refrigeration, industrial refrigeration, energy, and chemicals. Headquartered in the UK, the company operates in over 100 countries, delivering essential gases such as oxygen, nitrogen, and hydrogen. Linde is also a key player in carbon capture, hydrogen energy, and sustainable industrial solutions. Its advanced engineering division specializes in cryogenic and gas processing technologies. With a strong focus on innovation and sustainability, Linde continues to drive efficiency and environmental progress in the global industrial sector.

• BASF SE is a chemical manufacturing company with a presence across Asia Pacific, North America, Central & South America, Europe, and the Middle East & Africa. The company operates through six business segments, namely chemical, material, industrial solutions, surface technologies, agricultural solutions, and nutrition & care. The chemical segment includes petrochemicals and intermediaries. The material segment comprises performance polymers and monomers. The Industrial Solutions segment includes performance chemicals and dispersions & pigments. The agricultural solution segment includes products for farming, landscape management, and pest control. The nutrition & care segment is further sub-segmented into nutrition & health and care. The company provides a wide range of surfactants for textile, paint & coatings, homecare, and food processing industries.

Recent Developments

• In December 2024, Clariant commenced construction of a second production line at its Cangzhou facility in Hebei Province, China, to manufacture the multifunctional additive Nylostab S-EED. This expansion, in partnership with Beijing Tiangang Auxiliary Co., Ltd., aims to meet the increasing demand from China's nylon industry, particularly in the textiles, automotive, and packaging sectors. The first production line, operational since 2021, has reached full capacity and earned a strong reputation for quality. Nylostab S-EED enhances nylon products by improving color stability, heat resistance, and process efficiency.

• In February 2022, Linde announced a long-term agreement with BASF to supply hydrogen and steam to BASF's new hexamethylenediamine (HMD) facility in Chalampé, France. As part of this agreement, Linde will design, build, own, and operate a second hydrogen production plant at the Chalampé 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.

Secondary Refrigerants Market Report Scope

Global Secondary Refrigerants Market Report Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global secondary refrigerants market report on the basis of product, end-use, and region.

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Glycols

  • Salt Brines

  • Carbon Dioxide

  • Other Products

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Commercial Refrigeration

  • Industrial Refrigeration

  • Heat Pumps

  • Air Conditioning

  • Other End Use

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America 

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa