Industry: Chemical & Material
Published Date: 2025-06-04
Pages: 165 Pages
Report ld: 4750950
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Refrigerant R23 Market Size(US$)

CAGR 2025-2031
3.1%
Market Size,2031
USD 255
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Refrigerant R23 market is projected to grow from US$ 212 million in 2025 to US$ 255 million by 2031, at a Compound Annual Growth Rate (CAGR) of 3.1% during the forecast period.
The evolving U.S. tariff policy posed substantial volatility risks to global markets. This report provides a comprehensive assessment of trade barrier escalations and cross-border counterstrategies, analyzing their multidimensional impacts on industrial competition patterns, geo-economic integration, and transnational value chain realignments.
Refrigerant R23, also known as trifluoromethane, is a hydrofluorocarbon (HFC) compound used as a refrigerant in low-temperature applications. With a molecular formula of CHF3 and a boiling point of -82.1 degrees Celsius (-115.8 degrees Fahrenheit), R23 is well-suited for cooling systems that require extremely low temperatures. It is commonly employed in industrial refrigeration, cryogenic systems, and research laboratories. However, it is crucial to note that R23 has a high global warming potential (GWP), contributing to climate change. Due to environmental concerns, there is a growing trend in the industry to phase out or restrict the use of R23 and adopt more environmentally friendly refrigerants with lower GWPs.
Driven by global climate change and environmental regulations, the demand for efficient refrigeration technology continues to increase, especially in scientific research, medical and industrial applications. Due to the high global warming potential (GWP) of R23, the market is actively developing low-GWP alternatives such as R744 (carbon dioxide), R170 (ethane), and R1150 (ethylene) to meet stricter environmental regulations. In addition, smart refrigeration technology is also constantly improving, and companies are beginning to integrate remote monitoring and automatic adjustment functions to improve system energy efficiency and operational reliability.
However, the industry still faces challenges, especially environmental regulations restricting high-GWP refrigerants, which may affect market supply and prompt companies to accelerate technological innovation. At the same time, fluctuations in raw material prices may push up production costs, which in turn affects terminal market prices. In addition, as industry competition intensifies, major brands continue to launch innovative solutions to seize market share, which may affect corporate profit margins and promote the development of more efficient and environmentally friendly refrigeration technologies.
In terms of production side, this report researches the Refrigerant R23 production, growth rate, market share by manufacturers and by region (region level and country level), from 2020 to 2025, and forecast to 2031.
In terms of consumption side, this report focuses on the sales of Refrigerant R23 by region (region level and country level), by company, by Type and by Application. from 2020 to 2025 and forecast to 2031.
This report presents an overview of global market for Refrigerant R23, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue/sales data for 2020 - 2025, estimates for 2025, and projections of CAGR through 2031.
This report researches the key producers of Refrigerant R23, also provides the consumption of main regions and countries. Highlights of the upcoming market potential for Refrigerant R23, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.
This report focuses on the Refrigerant R23 sales, revenue, market share and industry ranking of main manufacturers, data from 2020 to 2025. Identification of the major stakeholders in the global Refrigerant R23 market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2020 to 2031. Evaluation and forecast the market size for Refrigerant R23 sales, projected growth trends, production technology, application and end-user industry.
Descriptive company profiles of the major global players, including DowDuPont, Linde, Honeywell, Climalife, Gas Servei S.A., A‑Gas, Daikin, Arkema, Chemours, Shanghai 3F New Material, etc.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type and by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Refrigerant R23 production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.
Chapter 3: Sales (consumption), revenue of Refrigerant R23 in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 4: Detailed analysis of Refrigerant R23 manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.
Chapter 5: Provides the analysis of various market segments by Type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 6: Provides the analysis of various market segments by Application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 7: North America (US & Canada) by Type, by Application and by country, sales, and revenue for each segment.
Chapter 8: Europe by Type, by Application and by country, sales, and revenue for each segment.
Chapter 9: China by Type, and by Application, sales, and revenue for each segment.
Chapter 10: Asia (excluding China) by Type, by Application and by region, sales, and revenue for each segment.
Chapter 11: Middle East, Africa, Latin America by Type, by Application and by country, sales, and revenue for each segment.
Chapter 12: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Refrigerant R23 sales, revenue, price, gross margin, and recent development, etc.
Chapter 13: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.
Chapter 14: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 15: The main points and conclusions of the report.
QYRESEARCH'S STRENGTHS
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
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TABLE OF CONTENTS
1 Study Coverage
1.1 Refrigerant R23 Product Introduction
1.2 Market by Type
1.2.1 Global Refrigerant R23 Market Size by Type, 2020 VS 2024 VS 2031
1.2.2 High Purity (>99.9%)
1.2.3 Standard Purity (99.5%-99.9%)
1.3 Market by Application
1.3.1 Global Refrigerant R23 Market Size by Application, 2020 VS 2024 VS 2031
1.3.2 Cryogenic Coolant
1.3.3 Fire Extinguishing Agent
1.3.4 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Refrigerant R23 Production
2.1 Global Refrigerant R23 Production Capacity (2020-2031)
2.2 Global Refrigerant R23 Production by Region: 2020 VS 2024 VS 2031
2.3 Global Production by Region
2.3.1 Global Refrigerant R23 Production by Region (2020-2031)
2.3.2 Global Refrigerant R23 Production Market Share by Region (2020-2031)
2.4 North America
2.5 Europe
2.6 China
2.7 Japan
3 Executive Summary
3.1 Global Refrigerant R23 Revenue Estimates and Forecasts 2020-2031
3.2 Global Revenue by Region
3.2.1 Global Refrigerant R23 Revenue by Region: 2020 VS 2024 VS 2031
3.2.2 Global Refrigerant R23 Revenue by Region (2020-2031)
3.2.3 Global Refrigerant R23 Revenue Market Share by Region (2020-2031)
3.3 Global Refrigerant R23 Sales Estimates and Forecasts 2020-2031
3.4 Global Sales by Region
3.4.1 Global Refrigerant R23 Sales by Region: 2020 VS 2024 VS 2031
3.4.2 Global Refrigerant R23 Sales by Region (2020-2031)
3.4.3 Global Refrigerant R23 Sales Market Share by Region (2020-2031)
3.5 US & Canada
3.6 Europe
3.7 China
3.8 Asia (excluding China)
3.9 Middle East, Africa and Latin America
4 Competition by Manufacturers
4.1 Global Sales by Manufacturers
4.1.1 Global Refrigerant R23 Sales by Manufacturers (2020-2025)
4.1.2 Global Refrigerant R23 Sales Market Share by Manufacturers (2020-2025)
4.1.3 Global Top 10 and Top 5 Largest Manufacturers of Refrigerant R23 in 2024
4.2 Global Revenue by Manufacturers
4.2.1 Global Refrigerant R23 Revenue by Manufacturers (2020-2025)
4.2.2 Global Refrigerant R23 Revenue Market Share by Manufacturers (2020-2025)
4.2.3 Global Top 10 and Top 5 Companies by Refrigerant R23 Revenue in 2024
4.3 Global Refrigerant R23 Sales Price by Manufacturers (2020-2025)
4.4 Global Key Players of Refrigerant R23, Industry Ranking, 2023 VS 2024
4.5 Analysis of Competitive Landscape
4.5.1 Manufacturers Market Concentration Ratio (CR5 and HHI)
4.5.2 Global Refrigerant R23 Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
4.6 Global Key Manufacturers of Refrigerant R23, Manufacturing Base Distribution and Headquarters
4.7 Global Key Manufacturers of Refrigerant R23, Product Offered and Application
4.8 Global Key Manufacturers of Refrigerant R23, Date of Enter into This Industry
4.9 Mergers & Acquisitions, Expansion Plans
5 Market Size by Type
5.1 Global Sales by Type
5.1.1 Global Refrigerant R23 Historical Sales by Type (2020-2025)
5.1.2 Global Refrigerant R23 Forecasted Sales by Type (2026-2031)
5.1.3 Global Refrigerant R23 Sales Market Share by Type (2020-2031)
5.2 Global Revenue by Type
5.2.1 Global Refrigerant R23 Historical Revenue by Type (2020-2025)
5.2.2 Global Refrigerant R23 Forecasted Revenue by Type (2026-2031)
5.2.3 Global Refrigerant R23 Revenue Market Share by Type (2020-2031)
5.3 Global Price by Type
5.3.1 Global Refrigerant R23 Price by Type (2020-2025)
5.3.2 Global Refrigerant R23 Price Forecast by Type (2026-2031)
6 Market Size by Application
6.1 Global Sales by Application
6.1.1 Global Refrigerant R23 Historical Sales by Application (2020-2025)
6.1.2 Global Refrigerant R23 Forecasted Sales by Application (2026-2031)
6.1.3 Global Refrigerant R23 Sales Market Share by Application (2020-2031)
6.2 Global Revenue by Application
6.2.1 Global Refrigerant R23 Historical Revenue by Application (2020-2025)
6.2.2 Global Refrigerant R23 Forecasted Revenue by Application (2026-2031)
6.2.3 Global Refrigerant R23 Revenue Market Share by Application (2020-2031)
6.3 Global Price by Application
6.3.1 Global Refrigerant R23 Price by Application (2020-2025)
6.3.2 Global Refrigerant R23 Price Forecast by Application (2026-2031)
7 US & Canada
7.1 US & Canada Market Size by Type
7.1.1 US & Canada Refrigerant R23 Sales by Type (2020-2031)
7.1.2 US & Canada Refrigerant R23 Revenue by Type (2020-2031)
7.2 US & Canada Market Size by Application
7.2.1 US & Canada Refrigerant R23 Sales by Application (2020-2031)
7.2.2 US & Canada Refrigerant R23 Revenue by Application (2020-2031)
7.3 US & Canada Market Size by Country
7.3.1 US & Canada Refrigerant R23 Revenue by Country: 2020 VS 2024 VS 2031
7.3.2 US & Canada Refrigerant R23 Revenue by Country (2020-2031)
7.3.3 US & Canada Refrigerant R23 Sales by Country (2020-2031)
7.3.4 US
7.3.5 Canada
8 Europe
8.1 Europe Market Size by Type
8.1.1 Europe Refrigerant R23 Sales by Type (2020-2031)
8.1.2 Europe Refrigerant R23 Revenue by Type (2020-2031)
8.2 Europe Market Size by Application
8.2.1 Europe Refrigerant R23 Sales by Application (2020-2031)
8.2.2 Europe Refrigerant R23 Revenue by Application (2020-2031)
8.3 Europe Market Size by Country
8.3.1 Europe Refrigerant R23 Revenue by Country: 2020 VS 2024 VS 2031
8.3.2 Europe Refrigerant R23 Sales by Country (2020-2031)
8.3.3 Europe Refrigerant R23 Revenue by Country (2020-2031)
8.3.4 Germany
8.3.5 France
8.3.6 U.K.
8.3.7 Italy
8.3.8 Russia
9 China
9.1 China Market Size by Type
9.1.1 China Refrigerant R23 Sales by Type (2020-2031)
9.1.2 China Refrigerant R23 Revenue by Type (2020-2031)
9.2 China Market Size by Application
9.2.1 China Refrigerant R23 Sales by Application (2020-2031)
9.2.2 China Refrigerant R23 Revenue by Application (2020-2031)
10 Asia (excluding China)
10.1 Asia Market Size by Type
10.1.1 Asia Refrigerant R23 Sales by Type (2020-2031)
10.1.2 Asia Refrigerant R23 Revenue by Type (2020-2031)
10.2 Asia Market Size by Application
10.2.1 Asia Refrigerant R23 Sales by Application (2020-2031)
10.2.2 Asia Refrigerant R23 Revenue by Application (2020-2031)
10.3 Asia Market Size by Region
10.3.1 Asia Refrigerant R23 Revenue by Region: 2020 VS 2024 VS 2031
10.3.2 Asia Refrigerant R23 Revenue by Region (2020-2031)
10.3.3 Asia Refrigerant R23 Sales by Region (2020-2031)
10.3.4 Japan
10.3.5 South Korea
10.3.6 China Taiwan
10.3.7 Southeast Asia
10.3.8 India
11 Middle East, Africa and Latin America
11.1 Middle East, Africa and Latin America Market Size by Type
11.1.1 Middle East, Africa and Latin America Refrigerant R23 Sales by Type (2020-2031)
11.1.2 Middle East, Africa and Latin America Refrigerant R23 Revenue by Type (2020-2031)
11.2 Middle East, Africa and Latin America Market Size by Application
11.2.1 Middle East, Africa and Latin America Refrigerant R23 Sales by Application (2020-2031)
11.2.2 Middle East, Africa and Latin America Refrigerant R23 Revenue by Application (2020-2031)
11.3 Middle East, Africa and Latin America Market Size by Country
11.3.1 Middle East, Africa and Latin America Refrigerant R23 Revenue by Country: 2020 VS 2024 VS 2031
11.3.2 Middle East, Africa and Latin America Refrigerant R23 Revenue by Country (2020-2031)
11.3.3 Middle East, Africa and Latin America Refrigerant R23 Sales by Country (2020-2031)
11.3.4 Brazil
11.3.5 Mexico
11.3.6 Turkey
11.3.7 Israel
11.3.8 GCC Countries
12 Corporate Profile
12.1 DowDuPont
12.1.1 DowDuPont Corporation Information
12.1.2 DowDuPont Overview
12.1.3 DowDuPont Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.1.4 DowDuPont Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.1.5 DowDuPont Recent Developments
12.2 Linde
12.2.1 Linde Corporation Information
12.2.2 Linde Overview
12.2.3 Linde Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.2.4 Linde Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.2.5 Linde Recent Developments
12.3 Honeywell
12.3.1 Honeywell Corporation Information
12.3.2 Honeywell Overview
12.3.3 Honeywell Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.3.4 Honeywell Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.3.5 Honeywell Recent Developments
12.4 Climalife
12.4.1 Climalife Corporation Information
12.4.2 Climalife Overview
12.4.3 Climalife Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.4.4 Climalife Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.4.5 Climalife Recent Developments
12.5 Gas Servei S.A.
12.5.1 Gas Servei S.A. Corporation Information
12.5.2 Gas Servei S.A. Overview
12.5.3 Gas Servei S.A. Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.5.4 Gas Servei S.A. Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.5.5 Gas Servei S.A. Recent Developments
12.6 A‑Gas
12.6.1 A‑Gas Corporation Information
12.6.2 A‑Gas Overview
12.6.3 A‑Gas Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.6.4 A‑Gas Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.6.5 A‑Gas Recent Developments
12.7 Daikin
12.7.1 Daikin Corporation Information
12.7.2 Daikin Overview
12.7.3 Daikin Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.7.4 Daikin Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.7.5 Daikin Recent Developments
12.8 Arkema
12.8.1 Arkema Corporation Information
12.8.2 Arkema Overview
12.8.3 Arkema Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.8.4 Arkema Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.8.5 Arkema Recent Developments
12.9 Chemours
12.9.1 Chemours Corporation Information
12.9.2 Chemours Overview
12.9.3 Chemours Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.9.4 Chemours Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.9.5 Chemours Recent Developments
12.10 Shanghai 3F New Material
12.10.1 Shanghai 3F New Material Corporation Information
12.10.2 Shanghai 3F New Material Overview
12.10.3 Shanghai 3F New Material Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.10.4 Shanghai 3F New Material Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.10.5 Shanghai 3F New Material Recent Developments
12.11 Sinochem Lantian
12.11.1 Sinochem Lantian Corporation Information
12.11.2 Sinochem Lantian Overview
12.11.3 Sinochem Lantian Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.11.4 Sinochem Lantian Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.11.5 Sinochem Lantian Recent Developments
12.12 Zhejiang NOF Chemical
12.12.1 Zhejiang NOF Chemical Corporation Information
12.12.2 Zhejiang NOF Chemical Overview
12.12.3 Zhejiang NOF Chemical Refrigerant R23 Capacity, Sales, Price, Revenue and Gross Margin (2020-2025)
12.12.4 Zhejiang NOF Chemical Refrigerant R23 Product Model Numbers, Pictures, Descriptions and Specifications
12.12.5 Zhejiang NOF Chemical Recent Developments
13 Industry Chain and Sales Channels Analysis
13.1 Refrigerant R23 Industry Chain Analysis
13.2 Refrigerant R23 Key Raw Materials
13.2.1 Key Raw Materials
13.2.2 Raw Materials Key Suppliers
13.3 Refrigerant R23 Production Mode & Process
13.4 Refrigerant R23 Sales and Marketing
13.4.1 Refrigerant R23 Sales Channels
13.4.2 Refrigerant R23 Distributors
13.5 Refrigerant R23 Customers
14 Refrigerant R23 Market Dynamics
14.1 Refrigerant R23 Industry Trends
14.2 Refrigerant R23 Market Drivers
14.3 Refrigerant R23 Market Challenges
14.4 Refrigerant R23 Market Restraints
15 Key Findings in the Global Refrigerant R23 Study
16 Appendix
16.1 Research Methodology
16.1.1 Methodology/Research Approach
16.1.1.1 Research Programs/Design
16.1.1.2 Market Size Estimation
16.1.1.3 Market Breakdown and Data Triangulation
16.1.2 Data Source
16.1.2.1 Secondary Sources
16.1.2.2 Primary Sources
16.2 Author Details
TABLE OF FIGURES
List of Tables
List of Figures
KEY QUESTIONS ADDRESSED BY THE REPORT
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REPORT COVERAGE
DESCRIPTION
OVERVIEW
MARKET SEGMENTATION
CHAPTER OUTLINE
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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