Industry: Chemical & Material
Published Date: 2026-03-09
Pages: 100 Pages
Report ld: 6051337
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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 size was US$ 212 million in 2025 and is forecast to reach a readjusted size of US$ 262 million by 2032 with a CAGR of 3.1% during the forecast period 2026-2032.
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.
The global Refrigerant R23 market is strategically segmented by company, region (country), by Type, and by Application. This report empowers stakeholders to capitalize on emerging opportunities, optimize product strategies, and outperform competitors through data-driven insights on sales, revenue, and forecasts across regions, by Type, and by Application for 2021-2032.
MARKET SEGMENTATION
CHAPTER OUTLINE
Chapter 1: Report scope, segment-level executive summary (by Type, by Application) and market evolution across the short, mid and long term
Chapter 2: Quantitative analysis of Refrigerant R23 sales and revenue at global, regional, and country levels, highlighting market size and growth potential by region
Chapter 3: Competitive landscape of Refrigerant R23 manufacturers (sales, revenue, pricing, market share, industry rankings, and M&A / expansion plans)
Chapter 4: by Type-based segmentation analysis (sales, revenue, pricing, and growth potential) to identify blue-ocean product segments
Chapter 5: by Application-based segmentation analysis (sales, revenue, pricing, and growth potential) to uncover high-value downstream markets
Chapter 6: Regional breakdown by company, customer, by Type and by Application (sales, revenue, and pricing for each segment)
Chapter 7: Key manufacturer profiles –company overview, Refrigerant R23 product descriptions and specifications, revenue, gross margins, and recent developments
Chapter 8: Industry chain analysis – upstream raw materials, manufacturing links, and downstream application sectors
Chapter 9: Sales channels and distributor analysis – routes to market and key customer interfaces
Chapter 10: Market dynamics – trends, drivers, restraints, risks for manufacturers, and the impact of relevant industry policies
Chapter 11: Key findings, main takeaways, and overall conclusions of the report.
WHY THIS REPORT
Beyond standard market data, this analysis provides a clear profitability roadmap, empowering you to:
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Refrigerant R23 value chain, addressing:
- Market entry risks/opportunities by region
- Product mix optimization based on local practices
- Competitor tactics in fragmented vs. consolidated markets
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.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
TABLE OF CONTENTS
1 Market Overview
1.1 Refrigerant R23 Product Scope
1.2 Refrigerant R23 by Type
1.2.1 Global Refrigerant R23 Sales by Type (2021, 2025 & 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 Sales Comparison by Application (2021, 2025 & 2032)
1.3.2 Cryogenic Coolant
1.3.3 Fire Extinguishing Agent
1.3.4 Others
1.4 Global Refrigerant R23 Market Estimates and Forecasts (2021-2032)
1.4.1 Global Refrigerant R23 Market Size (Value) and Growth Rate (2021-2032)
1.4.2 Global Refrigerant R23 Market Size (Volume) and Growth Rate (2021-2032)
1.4.3 Global Refrigerant R23 Price Trends (2021-2032)
1.5 Assumptions and Limitations
2 Market Size and Prospects by Region
2.1 Global Refrigerant R23 Market Size by Region: 2021 VS 2025 VS 2032
2.2 Global Refrigerant R23 Historical Market Scenario by Region (2021-2026)
2.2.1 Global Refrigerant R23 Sales Market Share by Region (2021-2026)
2.2.2 Global Refrigerant R23 Revenue Market Share by Region (2021-2026)
2.3 Global Refrigerant R23 Market Estimates and Forecasts by Region (2027-2032)
2.3.1 Global Refrigerant R23 Sales Estimates and Forecasts by Region (2027-2032)
2.3.2 Global Refrigerant R23 Revenue Forecast by Region (2027-2032)
2.4 Major Regions and Emerging Market Analysis
2.4.1 North America Refrigerant R23 Market Size and Prospects (2021-2032)
2.4.2 Europe Refrigerant R23 Market Size and Prospects (2021-2032)
2.4.3 China Refrigerant R23 Market Size and Prospects (2021-2032)
2.4.4 Japan Refrigerant R23 Market Size and Prospects (2021-2032)
3 Global Market Size by Type
3.1 Global Refrigerant R23 Historical Market Review by Type (2021-2026)
3.1.1 Global Refrigerant R23 Sales by Type (2021-2026)
3.1.2 Global Refrigerant R23 Revenue by Type (2021-2026)
3.1.3 Global Refrigerant R23 Average Price by Type (2021-2026)
3.2 Global Refrigerant R23 Market Estimates and Forecasts by Type (2027-2032)
3.2.1 Global Refrigerant R23 Sales Forecast by Type (2027-2032)
3.2.2 Global Refrigerant R23 Revenue Forecast by Type (2027-2032)
3.2.3 Global Refrigerant R23 Price Forecast by Type (2027-2032)
3.3 Representative Players for Different Types of Refrigerant R23
4 Global Market Size by Application
4.1 Global Refrigerant R23 Historical Market Review by Application (2021-2026)
4.1.1 Global Refrigerant R23 Sales by Application (2021-2026)
4.1.2 Global Refrigerant R23 Revenue by Application (2021-2026)
4.1.3 Global Refrigerant R23 Average Price by Application (2021-2026)
4.2 Global Refrigerant R23 Market Estimates and Forecasts by Application (2027-2032)
4.2.1 Global Refrigerant R23 Sales Forecast by Application (2027-2032)
4.2.2 Global Refrigerant R23 Revenue Forecast by Application (2027-2032)
4.2.3 Global Refrigerant R23 Price Forecast by Application (2027-2032)
4.3 New Sources of Growth in Refrigerant R23 Applications
5 Competition Landscape by Players
5.1 Global Refrigerant R23 Sales by Player (2021-2026)
5.2 Global Top Refrigerant R23 Players by Revenue (2021-2026)
5.3 Global Refrigerant R23 Market Share by Company Type (Tier 1, Tier 2, and Tier 3), based on Refrigerant R23 revenue as of 2025
5.4 Global Refrigerant R23 Average Price by Company (2021-2026)
5.5 Global Key Manufacturers of Refrigerant R23, Manufacturing Sites & Headquarters
5.6 Global Key Manufacturers of Refrigerant R23, Product Type & Application
5.7 Global Key Manufacturers of Refrigerant R23, Date of Entry into This Industry
5.8 Manufacturers Mergers & Acquisitions, Expansion Plans
6 Regional Analysis
6.1 North America Market: Players, Segments, Downstream and Major Customers
6.1.1 North America Refrigerant R23 Sales by Company
6.1.1.1 North America Refrigerant R23 Sales by Company (2021-2026)
6.1.1.2 North America Refrigerant R23 Revenue by Company (2021-2026)
6.1.2 North America Refrigerant R23 Sales Breakdown by Type (2021-2026)
6.1.3 North America Refrigerant R23 Sales Breakdown by Application (2021-2026)
6.1.4 North America Refrigerant R23 Major Customers
6.1.5 North America Market Trends and Opportunities
6.2 Europe Market: Players, Segments, Downstream and Major Customers
6.2.1 Europe Refrigerant R23 Sales by Company
6.2.1.1 Europe Refrigerant R23 Sales by Company (2021-2026)
6.2.1.2 Europe Refrigerant R23 Revenue by Company (2021-2026)
6.2.2 Europe Refrigerant R23 Sales Breakdown by Type (2021-2026)
6.2.3 Europe Refrigerant R23 Sales Breakdown by Application (2021-2026)
6.2.4 Europe Refrigerant R23 Major Customers
6.2.5 Europe Market Trends and Opportunities
6.3 China Market: Players, Segments, Downstream and Major Customers
6.3.1 China Refrigerant R23 Sales by Company
6.3.1.1 China Refrigerant R23 Sales by Company (2021-2026)
6.3.1.2 China Refrigerant R23 Revenue by Company (2021-2026)
6.3.2 China Refrigerant R23 Sales Breakdown by Type (2021-2026)
6.3.3 China Refrigerant R23 Sales Breakdown by Application (2021-2026)
6.3.4 China Refrigerant R23 Major Customers
6.3.5 China Market Trends and Opportunities
6.4 Japan Market: Players, Segments, Downstream and Major Customers
6.4.1 Japan Refrigerant R23 Sales by Company
6.4.1.1 Japan Refrigerant R23 Sales by Company (2021-2026)
6.4.1.2 Japan Refrigerant R23 Revenue by Company (2021-2026)
6.4.2 Japan Refrigerant R23 Sales Breakdown by Type (2021-2026)
6.4.3 Japan Refrigerant R23 Sales Breakdown by Application (2021-2026)
6.4.4 Japan Refrigerant R23 Major Customers
6.4.5 Japan Market Trends and Opportunities
7 Company Profiles and Key Figures
7.1 DowDuPont
7.1.1 DowDuPont Company Information
7.1.2 DowDuPont Business Overview
7.1.3 DowDuPont Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.1.4 DowDuPont Refrigerant R23 Products Offered
7.1.5 DowDuPont Recent Development
7.2 Linde
7.2.1 Linde Company Information
7.2.2 Linde Business Overview
7.2.3 Linde Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.2.4 Linde Refrigerant R23 Products Offered
7.2.5 Linde Recent Development
7.3 Honeywell
7.3.1 Honeywell Company Information
7.3.2 Honeywell Business Overview
7.3.3 Honeywell Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.3.4 Honeywell Refrigerant R23 Products Offered
7.3.5 Honeywell Recent Development
7.4 Climalife
7.4.1 Climalife Company Information
7.4.2 Climalife Business Overview
7.4.3 Climalife Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.4.4 Climalife Refrigerant R23 Products Offered
7.4.5 Climalife Recent Development
7.5 Gas Servei S.A.
7.5.1 Gas Servei S.A. Company Information
7.5.2 Gas Servei S.A. Business Overview
7.5.3 Gas Servei S.A. Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.5.4 Gas Servei S.A. Refrigerant R23 Products Offered
7.5.5 Gas Servei S.A. Recent Development
7.6 A‑Gas
7.6.1 A‑Gas Company Information
7.6.2 A‑Gas Business Overview
7.6.3 A‑Gas Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.6.4 A‑Gas Refrigerant R23 Products Offered
7.6.5 A‑Gas Recent Development
7.7 Daikin
7.7.1 Daikin Company Information
7.7.2 Daikin Business Overview
7.7.3 Daikin Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.7.4 Daikin Refrigerant R23 Products Offered
7.7.5 Daikin Recent Development
7.8 Arkema
7.8.1 Arkema Company Information
7.8.2 Arkema Business Overview
7.8.3 Arkema Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.8.4 Arkema Refrigerant R23 Products Offered
7.8.5 Arkema Recent Development
7.9 Chemours
7.9.1 Chemours Company Information
7.9.2 Chemours Business Overview
7.9.3 Chemours Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.9.4 Chemours Refrigerant R23 Products Offered
7.9.5 Chemours Recent Development
7.10 Shanghai 3F New Material
7.10.1 Shanghai 3F New Material Company Information
7.10.2 Shanghai 3F New Material Business Overview
7.10.3 Shanghai 3F New Material Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.10.4 Shanghai 3F New Material Refrigerant R23 Products Offered
7.10.5 Shanghai 3F New Material Recent Development
7.11 Sinochem Lantian
7.11.1 Sinochem Lantian Company Information
7.11.2 Sinochem Lantian Business Overview
7.11.3 Sinochem Lantian Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.11.4 Sinochem Lantian Refrigerant R23 Products Offered
7.11.5 Sinochem Lantian Recent Development
7.12 Zhejiang NOF Chemical
7.12.1 Zhejiang NOF Chemical Company Information
7.12.2 Zhejiang NOF Chemical Business Overview
7.12.3 Zhejiang NOF Chemical Refrigerant R23 Sales, Revenue and Gross Margin (2021-2026)
7.12.4 Zhejiang NOF Chemical Refrigerant R23 Products Offered
7.12.5 Zhejiang NOF Chemical Recent Development
8 Refrigerant R23 Manufacturing Cost Analysis
8.1 Refrigerant R23 Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Refrigerant R23
8.4 Refrigerant R23 Industrial Chain Analysis
9 Marketing Channels, Distributors and Customers
9.1 Marketing Channels
9.2 Refrigerant R23 Distributors List
9.3 Refrigerant R23 Customers
10 Refrigerant R23 Market Dynamics
10.1 Refrigerant R23 Industry Trends
10.2 Refrigerant R23 Market Drivers
10.3 Refrigerant R23 Market Challenges
10.4 Refrigerant R23 Market Restraints
11 Research Findings and Conclusion
12 Appendix
12.1 Research Methodology
12.1.1 Methodology/Research Approach
12.1.1.1 Research Programs/Design
12.1.1.2 Market Size Estimation
12.1.1.3 Market Breakdown and Data Triangulation
12.1.2 Data Source
12.1.2.1 Secondary Sources
12.1.2.2 Primary Sources
12.2 Author Details
12.3 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
WHY THIS REPORT
QYRESEARCH'S STRENGTHS
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
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