Middle East Refrigerants Market Size, Share, Growth Analysis, By Refrigerants(Ammonia, Carbon Dioxide, Hydro-Chlorofluorocarbons), By Application(Food & Beverages, Oil & Gas, Chemicals & Petrochemicals), By Region - Industry Forecast 2024-2031

Middle East Refrigerants Market size was valued at USD 6.6 billion in 2022 and is poised to grow from USD 7.19 billion in 2023 to USD 14.33 billion by 2031, growing at a CAGR of 9.0% in the forecast period (2024-2031).

The Middle East refrigerants market is witnessing giant growth and transformation in response to evolving environmental guidelines and the region's expanding HVAC and refrigeration sectors.

With a focus on sustainability and the reduction of greenhouse gasoline emissions, the marketplace is steadily shifting faraway from conventional hydrochlorofluorocarbon (HCFC) and hydrofluorocarbon (HFC) refrigerants towards more environmentally pleasant options like hydrofluoroolefins (HFOs) and natural refrigerants along with ammonia and carbon dioxide. This transition is driven by worldwide agreements just like the Kigali Amendment to the Montreal Protocol, which pursuits to phase out high-global warming potential (GWP) refrigerants.

Moreover, as the Middle East experiences fast urbanization and extended call for air con and refrigeration answers in residential, business, and commercial sectors, the refrigerants marketplace is poised for sustained increase.

Manufacturers and stakeholders within the place are aligning their techniques to satisfy both regulatory necessities and the growing market demand for green and energy-efficient refrigerants, fostering innovation and using investments in sustainable refrigeration technologies.