Industry: Chemical & Material
Published Date: 2026-03-05
Pages: 138 Pages
Report ld: 6008299
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Refrigerant R23 Market Size(US$)

CAGR 2026-2032
3.1%
Market Size,2032
USD 262
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Refrigerant R23 market was valued at US$ 212 million in 2025 and is anticipated to reach US$ 262 million by 2032, at a CAGR of 3.1% from 2026 to 2032.
The 2025 U.S. tariff policies introduce profound uncertainty into the global economic landscape. This report critically examines the implications of recent tariff adjustments and international strategic countermeasures on Refrigerant R23 competitive dynamics, regional economic interdependencies, and supply chain reconfigurations.
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.
This report delivers a comprehensive overview of the global Refrigerant R23 market, with both quantitative and qualitative analyses, to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current market, and make informed business decisions regarding Refrigerant R23. The Refrigerant R23 market size, estimates, and forecasts are provided in terms of output/shipments (K MT) and revenue (US$ millions), with 2025 as the base year and historical and forecast data for 2021–2032.
The report segments the global Refrigerant R23 market comprehensively. Regional market sizes by Type, by Application, , and by company are also provided. For deeper insight, the report profiles the competitive landscape, key competitors, and their respective market rankings, and discusses technological trends and new product developments.
This report will assist Refrigerant R23 manufacturers, new entrants, and companies across the industry value chain with information on revenues, production, and average prices for the overall market and its sub-segments, by company, by Type, by Application, and by region.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Defines the scope of the report and presents an executive summary of market segments (by Type, by Application, , etc.), including the size of each segment and its future growth potential. It offers a high-level view of the current market and its likely evolution in the short, medium, and long term.
Chapter 2: Provides a detailed analysis of the competitive landscape for Refrigerant R23 manufacturers, including prices, production, value-based market shares, latest development plans, and information on mergers and acquisitions.
Chapter 3: Examines Refrigerant R23 production/output and value by region and country, providing a quantitative assessment of market size and growth potential for each region over the next six years.
Chapter 4: Analyzes Refrigerant R23 consumption at the regional and country levels. It quantifies market size and growth potential for each region and its key countries, and outlines market development, outlook, addressable space, and national production.
Chapter 5: Analyzes market segments by Type, covering the size and growth potential of each segment to help readers identify “blue ocean” opportunities.
Chapter 6: Analyzes market segments by Application, covering the size and growth potential of each segment to help readers identify “blue ocean” opportunities in downstream markets.
Chapter 7: Profiles key players, detailing the fundamentals of major companies, including product production/output, value, price, gross margin, product portfolio/introductions, and recent developments.
Chapter 8: Reviews the industry value chain, including upstream and downstream segments.
Chapter 9: Discusses market dynamics and recent developments, including drivers, restraints, challenges and risks for manufacturers, U.S. Tariffs and relevant policy analysis.
Chapter 10: Summarizes the key findings 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.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
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TABLE OF CONTENTS
1 Refrigerant R23 Market Overview
1.1 Product Definition
1.2 Refrigerant R23 by Type
1.2.1 Global Refrigerant R23 Market Value Growth Rate Analysis by Type: 2025 vs 2032
1.2.2 High Purity (>99.9%)
1.2.3 Standard Purity (99.5%-99.9%)
1.3 Refrigerant R23 by Application
1.3.1 Global Refrigerant R23 Market Value Growth Rate Analysis by Application: 2025 vs 2032
1.3.2 Cryogenic Coolant
1.3.3 Fire Extinguishing Agent
1.3.4 Others
1.4 Global Market Growth Prospects
1.4.1 Global Refrigerant R23 Production Value Estimates and Forecasts (2021–2032)
1.4.2 Global Refrigerant R23 Production Capacity Estimates and Forecasts (2021–2032)
1.4.3 Global Refrigerant R23 Production Estimates and Forecasts (2021–2032)
1.4.4 Global Refrigerant R23 Market Average Price Estimates and Forecasts (2021–2032)
1.5 Assumptions and Limitations
2 Market Competition by Manufacturers
2.1 Global Refrigerant R23 Production Market Share by Manufacturers (2021–2026)
2.2 Global Refrigerant R23 Production Value Market Share by Manufacturers (2021–2026)
2.3 Global Key Players of Refrigerant R23, Industry Ranking, 2024 vs 2025
2.4 Global Refrigerant R23 Market Share by Company Tier (Tier 1, Tier 2, Tier 3)
2.5 Global Refrigerant R23 Average Price by Manufacturers (2021–2026)
2.6 Global Key Manufacturers of Refrigerant R23, Manufacturing Footprints and Headquarters
2.7 Global Key Manufacturers of Refrigerant R23, Product Offerings and Applications
2.8 Global Key Manufacturers of Refrigerant R23, Date of Entry into the Industry
2.9 Refrigerant R23 Market Competitive Situation and Trends
2.9.1 Refrigerant R23 Market Concentration Rate
2.9.2 Top 5 and Top 10 Global Refrigerant R23 Players Market Share by Revenue
2.10 Mergers & Acquisitions and Expansion
3 Refrigerant R23 Production by Region
3.1 Global Refrigerant R23 Production Value Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
3.2 Global Refrigerant R23 Production Value by Region (2021–2032)
3.2.1 Global Refrigerant R23 Production Value by Region (2021–2026)
3.2.2 Global Forecasted Production Value of Refrigerant R23 by Region (2027–2032)
3.3 Global Refrigerant R23 Production Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
3.4 Global Refrigerant R23 Production Volume by Region (2021–2032)
3.4.1 Global Refrigerant R23 Production by Region (2021–2026)
3.4.2 Global Forecasted Production of Refrigerant R23 by Region (2027–2032)
3.5 Global Refrigerant R23 Market Price Analysis by Region (2021–2032)
3.6 Global Refrigerant R23 Production, Value, and Year-over-Year Growth
3.6.1 North America Refrigerant R23 Production Value Estimates and Forecasts (2021–2032)
3.6.2 Europe Refrigerant R23 Production Value Estimates and Forecasts (2021–2032)
3.6.3 China Refrigerant R23 Production Value Estimates and Forecasts (2021–2032)
3.6.4 Japan Refrigerant R23 Production Value Estimates and Forecasts (2021–2032)
4 Refrigerant R23 Consumption by Region
4.1 Global Refrigerant R23 Consumption Estimates and Forecasts by Region: 2021 vs 2025 vs 2032
4.2 Global Refrigerant R23 Consumption by Region (2021–2032)
4.2.1 Global Refrigerant R23 Consumption by Region (2021–2026)
4.2.2 Global Refrigerant R23 Forecasted Consumption by Region (2027–2032)
4.3 North America
4.3.1 North America Refrigerant R23 Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.3.2 North America Refrigerant R23 Consumption by Country (2021–2032)
4.3.3 U.S.
4.3.4 Canada
4.4 Europe
4.4.1 Europe Refrigerant R23 Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.4.2 Europe Refrigerant R23 Consumption by Country (2021–2032)
4.4.3 Germany
4.4.4 France
4.4.5 U.K.
4.4.6 Italy
4.4.7 Russia
4.5 Asia Pacific
4.5.1 Asia Pacific Refrigerant R23 Consumption Growth Rate by Region: 2021 vs 2025 vs 2032
4.5.2 Asia Pacific Refrigerant R23 Consumption by Region (2021–2032)
4.5.3 China
4.5.4 Japan
4.5.5 South Korea
4.5.6 China Taiwan
4.5.7 Southeast Asia
4.5.8 India
4.6 Latin America, Middle East & Africa
4.6.1 Latin America, Middle East & Africa Refrigerant R23 Consumption Growth Rate by Country: 2021 vs 2025 vs 2032
4.6.2 Latin America, Middle East & Africa Refrigerant R23 Consumption by Country (2021–2032)
4.6.3 Mexico
4.6.4 Brazil
4.6.5 Turkey
4.6.6 GCC Countries
5 Segment by Type
5.1 Global Refrigerant R23 Production by Type (2021–2032)
5.1.1 Global Refrigerant R23 Production by Type (2021–2026)
5.1.2 Global Refrigerant R23 Production by Type (2027–2032)
5.1.3 Global Refrigerant R23 Production Market Share by Type (2021–2032)
5.2 Global Refrigerant R23 Production Value by Type (2021–2032)
5.2.1 Global Refrigerant R23 Production Value by Type (2021–2026)
5.2.2 Global Refrigerant R23 Production Value by Type (2027–2032)
5.2.3 Global Refrigerant R23 Production Value Market Share by Type (2021–2032)
5.3 Global Refrigerant R23 Price by Type (2021–2032)
6 Segment by Application
6.1 Global Refrigerant R23 Production by Application (2021–2032)
6.1.1 Global Refrigerant R23 Production by Application (2021–2026)
6.1.2 Global Refrigerant R23 Production by Application (2027–2032)
6.1.3 Global Refrigerant R23 Production Market Share by Application (2021–2032)
6.2 Global Refrigerant R23 Production Value by Application (2021–2032)
6.2.1 Global Refrigerant R23 Production Value by Application (2021–2026)
6.2.2 Global Refrigerant R23 Production Value by Application (2027–2032)
6.2.3 Global Refrigerant R23 Production Value Market Share by Application (2021–2032)
6.3 Global Refrigerant R23 Price by Application (2021–2032)
7 Key Companies Profiled
7.1 DowDuPont
7.1.1 DowDuPont Refrigerant R23 Company Information
7.1.2 DowDuPont Refrigerant R23 Product Portfolio
7.1.3 DowDuPont Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.1.4 DowDuPont Main Business and Markets Served
7.1.5 DowDuPont Recent Developments/Updates
7.2 Linde
7.2.1 Linde Refrigerant R23 Company Information
7.2.2 Linde Refrigerant R23 Product Portfolio
7.2.3 Linde Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.2.4 Linde Main Business and Markets Served
7.2.5 Linde Recent Developments/Updates
7.3 Honeywell
7.3.1 Honeywell Refrigerant R23 Company Information
7.3.2 Honeywell Refrigerant R23 Product Portfolio
7.3.3 Honeywell Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.3.4 Honeywell Main Business and Markets Served
7.3.5 Honeywell Recent Developments/Updates
7.4 Climalife
7.4.1 Climalife Refrigerant R23 Company Information
7.4.2 Climalife Refrigerant R23 Product Portfolio
7.4.3 Climalife Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.4.4 Climalife Main Business and Markets Served
7.4.5 Climalife Recent Developments/Updates
7.5 Gas Servei S.A.
7.5.1 Gas Servei S.A. Refrigerant R23 Company Information
7.5.2 Gas Servei S.A. Refrigerant R23 Product Portfolio
7.5.3 Gas Servei S.A. Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.5.4 Gas Servei S.A. Main Business and Markets Served
7.5.5 Gas Servei S.A. Recent Developments/Updates
7.6 A‑Gas
7.6.1 A‑Gas Refrigerant R23 Company Information
7.6.2 A‑Gas Refrigerant R23 Product Portfolio
7.6.3 A‑Gas Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.6.4 A‑Gas Main Business and Markets Served
7.6.5 A‑Gas Recent Developments/Updates
7.7 Daikin
7.7.1 Daikin Refrigerant R23 Company Information
7.7.2 Daikin Refrigerant R23 Product Portfolio
7.7.3 Daikin Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.7.4 Daikin Main Business and Markets Served
7.7.5 Daikin Recent Developments/Updates
7.8 Arkema
7.8.1 Arkema Refrigerant R23 Company Information
7.8.2 Arkema Refrigerant R23 Product Portfolio
7.8.3 Arkema Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.8.4 Arkema Main Business and Markets Served
7.8.5 Arkema Recent Developments/Updates
7.9 Chemours
7.9.1 Chemours Refrigerant R23 Company Information
7.9.2 Chemours Refrigerant R23 Product Portfolio
7.9.3 Chemours Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.9.4 Chemours Main Business and Markets Served
7.9.5 Chemours Recent Developments/Updates
7.10 Shanghai 3F New Material
7.10.1 Shanghai 3F New Material Refrigerant R23 Company Information
7.10.2 Shanghai 3F New Material Refrigerant R23 Product Portfolio
7.10.3 Shanghai 3F New Material Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.10.4 Shanghai 3F New Material Main Business and Markets Served
7.10.5 Shanghai 3F New Material Recent Developments/Updates
7.11 Sinochem Lantian
7.11.1 Sinochem Lantian Refrigerant R23 Company Information
7.11.2 Sinochem Lantian Refrigerant R23 Product Portfolio
7.11.3 Sinochem Lantian Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.11.4 Sinochem Lantian Main Business and Markets Served
7.11.5 Sinochem Lantian Recent Developments/Updates
7.12 Zhejiang NOF Chemical
7.12.1 Zhejiang NOF Chemical Refrigerant R23 Company Information
7.12.2 Zhejiang NOF Chemical Refrigerant R23 Product Portfolio
7.12.3 Zhejiang NOF Chemical Refrigerant R23 Production, Value, Price, and Gross Margin (2021–2026)
7.12.4 Zhejiang NOF Chemical Main Business and Markets Served
7.12.5 Zhejiang NOF Chemical Recent Developments/Updates
8 Industry Chain and Sales Channels Analysis
8.1 Refrigerant R23 Industry Chain Analysis
8.2 Refrigerant R23 Raw Material Supply Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.3 Refrigerant R23 Production Modes and Processes
8.4 Refrigerant R23 Sales and Marketing
8.4.1 Refrigerant R23 Sales Channels
8.4.2 Refrigerant R23 Distributors
8.5 Refrigerant R23 Customer Analysis
9 Refrigerant R23 Market Dynamics
9.1 Refrigerant R23 Industry Trends
9.2 Refrigerant R23 Market Drivers
9.3 Refrigerant R23 Market Challenges
9.4 Refrigerant R23 Market Restraints
9.5 Impact of U.S. Tariffs
10 Research Findings and Conclusion
11 Methodology and Data Source
11.1 Methodology/Research Approach
11.1.1 Research Programs/Design
11.1.2 Market Size Estimation
11.1.3 Market Breakdown and Data Triangulation
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Author List
11.4 Disclaimer
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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