The refrigerants market is undergoing a significant transformation due to environmental regulations aimed at phasing out high global warming potential substances. The Montreal Protocol and the Kigali Amendment are pivotal in this shift, promoting the adoption of low- to zero-GWP alternatives like CO2-based cooling systems, projected to grow from USD 48.5 billion in 2023 to USD 140.9 billion by 2030. This change is crucial for mitigating climate change impacts and protecting the ozone layer.
The refrigerant market is undergoing a significant transformation due to environmental regulations aimed at replacing high global warming potential (GWP) substances with safer alternatives. The Montreal Protocol and the Kigali Amendment have catalyzed this shift, promoting the use of low to zero GWP refrigerants, such as CO2-based cooling systems, which are projected to grow from USD 48.5 billion in 2023 to USD 140.9 billion by 2030. This change is crucial for mitigating climate change and protecting the ozone layer.
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