Procurement Market Intelligence Report
Refrigerants
Sourcing Guide & Market Intelligence
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Refrigerants Global Overview
Definition
Summary
Refrigerants are fluid substances commonly used in air conditioners, refrigerators, and freezers. This report includes fluorinated refrigerants that do not deplete ozone, such as hydrofluorocarbons (HFCs) and those that do deplete ozone and are strictly regulated, such as hydrochlorofluorocarbons (HCFCs) and chlorofluorocarbons (CFCs). This report also covers natural halogen-free refrigerants such as ammonia, carbon dioxide, and hydrocarbons. This report excludes air conditioners, refrigerators, and freezers. Suppliers, such as manufacturers and wholesalers, commonly serve the broader heating, ventilation, air-conditioning, and refrigeration (HVACR) market.
This Report Includes:
- Hydrofluorocarbons
- Hydrochlorofluorocarbons
- Chlorofluorocarbons
- Natural Halogen-Free Refrigerants
Not in this Report:
- Air Conditioners
- Refrigerators
- Freezers
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Global Refrigerants Procurement Trends
Discover the top international trends affecting procurement in the global Refrigerants market.
Warning Trends
Tariffs to negatively impact the distribution and conditioning systems equipment sector
- The Trump Administration’s reciprocal tariffs, which apply general tariff rate increases to most leading US trade partners, are set to take effect on August 7, after the administration finalized the rates on August 1. These changes will significantly increase the tariff rate on leading distribution and conditioning systems exporting countries, including the European Union (15.0%), Canada (35.0%), China (54.0%), Mexico (25.0%), Japan (15.0%), and South Korea (15.0%).
- Distribution and conditioning systems equipment manufacturers in the United States will pay more for many foreign components and parts, such as heating and cooling equipment. Major manufacturers that operate in these markets, including Carrier, Daikin, Lennox, and Trane, have a manufacturing presence in Mexico and source components from tariff-impacted countries like China.
- According to the Heating, Air-Conditioning, & Refrigeration Distributors International (HARDI), over 66.0% of heating, ventilation, air conditioning, and refrigeration products are made in or use components imported from Canada, China, or Mexico. As price increases are passed down the supply chain, buyers will likely see price increases for key distribution and conditioning systems equipment.
- China is even more prevalent in several distribution and conditioning component markets, raising upstream supply chain risk following these tariffs. For example, according to the International Energy Agency, 95.0% of heat pump compressors were manufactured in China in 2023, and China accounts for half of the global trade in heat pump components.
Global Refrigerants Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 China | 6,360 |
| #2 Europe | 3,795 |
| #3 India | 3,125 |
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Geography Drilldown - US
Average Cost of Refrigerants
United States
2026 Market Pricing$2.00 to $XX.XX
per poundAverage Price
Prices in the Refrigerants market range from $2.00 to $XX.XX, depending on Product Type, Application and Fluorinated vs. Halogen-Free. For example, lower prices are associated with R-410A refrigerant, whereas higher prices are associated with R-12 refrigerant.
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Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Refrigerants Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Refrigerants market, prices in the US have grown 2.8% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
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Cost Analysis - Total Cost of Ownership for Refrigerants
Total cost of ownership is Medium in the Refrigerants market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Spoilage may raise the total cost of ownership unexpectedly.
Billed During
Labor
Handling
Compliance
Training
Unforeseen
Spoilage
Obsolescence
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -1.8 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Market Share Concentration. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as Medium, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Chemical Wholesalers
- Metal Tank Manufacturers
- Chemical Trucking Services
2nd
Tier Suppliers
- Oil Refiners & Natural Gas Processors
- Organic Chemical Manufacturers
- Steel Manufacturers
- Gas Stations
Biggest Refrigerants Suppliers in the US by Revenue
The largest Refrigerants vendors by revenue in the US are Johnstone Supply, Inc., Arkema SA and Agc Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| L'air Liquide, S.A. | Global | Paris, FR | >10,001 | 5-10 | ||||
| Arkema SA | Global | Colombes, FR | >10,001 | 5-10 | ||||
| The Chemours Company | Global | WILMINGTON, DE | 1,001-10,000 | 5-10 | ||||
| The Linde Group | US | >10,001 | 5-10 | |||||
| Daikin Industries Ltd. | Global | Osaka, JP | >10,001 | < 5 | ||||
| Agc Inc. | Global | Tokyo, JP | >10,001 | < 5 | ||||
| Honeywell International Inc. | Global | CHARLOTTE | >10,000 | < 5 | ||||
| National Refrigerants Inc. | Global | Philadelphia, PA | 25-50 | < 5 | ||||
| Johnstone Supply, Inc. | International | Portland, OR | 1,001-10,000 | < 5 | ||||
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Profit Analysis
The average profit margin across vendors in the Refrigerants market is 4.0% and falling. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is rising, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
The average vendor in this market operates with a low level of risk. Vendors can maintain moderate profit margins because they typically carry a wide selection of product offerings, which helps alleviate the effect of changing demand for any single product.
Market share concentration in the refrigerant market is very low, with the top four companies generating less than 30.0% of market revenue, and has remained relatively stable in the last three years. This benefits buyers by facilitating healthy price-based competition in the market.
The supply chain risk for refrigerants is moderate. Tank, chemical wholesalers, industrial machinery, and equipment manufacturers have experienced price volatility for key inputs.
The United States is a net importer of refrigerants, meaning it imports more than it exports. This implies that a significant portion of the market relies on foreign manufacturers, which could lead to a broader variety of products and potentially more competitive pricing.
Supplier Information
Arkema SA
Arkema SA is a public company operating globally in the manufacturing and wholesale trade sectors. The company's offerings include synthetic resins and refrigerants. Founded in 2004, the company is currently headquartered in Puteaux, France with an estimated employee count of over 10,000. Subscribe to learn more
L'air Liquide, S.A.
L'air Liquide, S.A. is a public company operating globally in the manufacturing, manufacturing and wholesale trade sectors. The company's offerings include noble & elemental gases, industrial use gases, preservatives, refrigerants, gas pressure regulators. Founded in 1902, the company is currently headquartered... Subscribe to learn more
The Chemours Company
The Chemours Company is a public company operating globally in the manufacturing and wholesale trade sectors. The company's offerings include pigments and refrigerants. Founded in 2015, the company is currently headquartered in WILMINGTON, Delaware, United States of America with an estimated 6600 employees.... Subscribe to learn more
The Linde Group
The Linde Group is a public company operating globally in the manufacturing and wholesale trade sectors. The company's offerings include noble & elemental gases, preservatives and refrigerants. Founded in 2012, the company is currently headquartered in Guilford, United Kingdom with an estimated employee count... Subscribe to learn more
Agc Inc.
Agc Inc. is a public company operating globally in the wholesale trade sector. The company's offerings include refrigerants. Founded in 1950, the company is currently headquartered in Tokyo, Japan with an estimated employee count of over 10,000. Subscribe to learn more
Daikin Industries Ltd.
Daikin Industries Ltd. is a public company operating globally in the manufacturing and wholesale trade sectors. The company's offerings include commercial refrigerators & freezers, walk-in refrigerators, refrigerants, industrial refrigerators, industrial fans & ventilation equipment. Founded in 1924, the Subscribe to learn more
Honeywell International Inc.
Honeywell International Inc. is a global technology and manufacturing company that designs, develops, produces, and markets consumer and industrial products. It organizes its business into four reportable business segments: the Aerospace segment, which supplies products, software, and services for aircraft;... Subscribe to learn more
Hudson Technologies Inc.
Hudson Technologies, Inc. /NY is a refrigerant services holding company serving the commercial air conditioning, industrial processing, and refrigeration systems markets. It offers refrigerant and industrial gas, as well as refrigerant management services, including refrigerant reclamation and RefrigerantSide®... Subscribe to learn more
Johnstone Supply, Inc.
Johnstone Supply, Inc. is a private company operating internationally in the wholesale trade sector. The company's offerings include refrigerants, commercial condensing units and furnaces. Founded in 1953, the company is currently headquartered in Portland, Oregon, United States of America with an estimated... Subscribe to learn more
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Procurement Management KPIs for the Refrigerants Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor On-Time Delivery (OTD) and Revenue by Product or Service. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Compliance and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| On-Time Delivery (OTD) |
|
Number of deliveries Number of on-time deliveries |
The on-time delivery rate represents the percentage of orders delivered on time. The on-time delivery rate is especially important for buyers with time-sensitive needs. |
| Revenue by Product or Service |
|
Total revenue Product-specific revenue |
The revenue per product represents the revenue generated from a specific product segment. Suppliers tend to operate in various chemical and HVAC-related markets, so buyers can note revenue from refrigerants to help gauge a supplier's relative expertise in the market. |
|
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Product Lines
What refrigerants do you offer that work with my systems, and what are the benefits and drawbacks of each?
Do all of your fluorinated refrigerants meet or exceed environmental standards?
Supply Chain Risk
Do you have long-term purchasing arrangements with your suppliers?
How much product do you keep in your inventory?
Value-Added Services
What related products or services do you commonly provide to buyers of refrigerants?
How do these additional offerings give you an advantage or lower your total costs?
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Refrigerants RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organizations and explain why they are seeking refrigerants.
Buyers should describe the system that needs refrigerant, including equipment type, brand, and model. This overview should give vendors enough information to quickly evaluate whether they can provide refrigerants to cool the anticipated area efficiently.
Statement Of Need
Buyers should state the intended application of the refrigerants, such as for food service or automobiles.
Buyers should disclose the type of refrigerant required if known.
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
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We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
