Market, Global Outlook and Forecast 2025
MARKET OVERVIEW:
The R-22 refrigerant, also known as HCFC-22, is a chemical compound commonly used in air conditioning and refrigeration systems to provide cooling. As an essential component in older air conditioning systems (typically those older than 10 years), R-22 plays a critical role in ensuring efficient operation by maintaining a cool indoor environment. This refrigerant, which has been used extensively for decades, is widely used across residential, commercial, and industrial applications for its cooling properties.
MARKET INSIGHT & GROWTH DRIVERS:
The market growth is driven by increasing gold mining activities, particularly in Asia-Pacific and Africa, where cyanide leaching remains the dominant extraction method. However, environmental concerns and stringent regulations pose challenges to market expansion.
MARKET DYNAMICS
Widespread Use of Existing Systems
A key driver of the R-22 refrigerant market is the large number of systems in operation that still rely on R-22 for cooling. Older air conditioners and refrigeration units that were installed prior to the phase-out continue to require R-22 for maintenance, creating a steady demand for the refrigerant.
MARKET OPPORTUNITIES
Developing regions where older air conditioning systems are still common provide an opportunity for R-22 suppliers to meet market demand. As these regions continue to grow economically, the number of cooling systems in use is likely to increase, resulting in higher demand for R-22 refrigerant.
COMPANY MISSION
The global phase-out of R-22 refrigerant under the Montreal Protocol has driven significant shifts in the HVAC industry. Despite the declining productionofR-22,itsmarketpersistsduetothe continued operation of legacy systems across residential and commercial sectors. The transition to alternatives like R-410A and R-32 is gaining momentum, with these newer refrigerants offering lower ozone depletion potentialandimprovedenergyefficiency.
REGIONAL MARKET OUTLOOK
North America
North America is one of the largest markets for R-22 refrigerant. The market size in 2023 was USD 53.73 million, with a projected CAGR of 2.66% from 2025 to 2032. Despite the gradual phase-out of R-22, the region’s reliance on older air conditioning systems ensures consistent demand for the refrigerant, particularly in residential and commercial sectors.
Europe
In Europe, strict environmental regulations have driven significant reductions in R-22 use, with many countries successfully transitioning to R-410A and other eco-friendly refrigerants. The market here is expected to shrink as older systems are phased out, and new installations increasingly rely on newer technologies. However, a niche demand for R-22 continues to exist for maintenance purposes.
COMPETITIVE LANDSCAPE
• Daikin
• Chemours
• Arkema
• Dongyue Group
• Zhejiang Juhua
• Mexichem
• Meilan Chemical
These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.
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