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United States R23 Refrigerant Market Research Report 2025-2032

Global R23 Refrigerant market size was valued at USD 256 million in 2024 and is projected to reach USD 321 million by 2032, exhibiting a CAGR of 2.3% during the forecast period.

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United States R23 Refrigerant Market Research Report 2025-2032

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  1. www.24chemicalresearch.com Latest Research Report : United States R23 Refrigerant Market Research Report 2025-2032 Comprehensive insight into regional dynamics, growth drivers, and market segmentation.

  2. MARKET OVERVIEW: R23 (Trifluoromethane) is a hydrofluorocarbon refrigerant primarily used in ultra-low temperature refrigeration systems. This specialty chemical serves critical functions in cryogenic applications, fire suppression systems, and as a precursor for polytetrafluoroethylene (PTFE) production. The gas operates effectively in temperature ranges below -80°C, making it indispensable for scientific, medical, and industrial cooling applications.

  3. CAGR 2024 MARKET INSIGHT & GROWTH DRIVERS: 2032 USD 256 MILLION USD 321 MILLION 2.31% The market growth is driven by increasing gold mining activities, particularly in Asia-Pacific and Africa, where cyanide leaching remains the dominant extraction method. However, environmental concerns and stringent regulations pose challenges to market expansion. Click Here for More Detailed Report

  4. 02 MARKET SEGMENTATION: 01 03 BY APPLICATION BY TYPE BY END USER • Cryogenic coolant • Fire extinguishing agent • Others • Disposable steel cylinders • Refillable steel cylinders • Others • Industrial • Commercial • Others

  5. MARKET DYNAMICS Expanding Industrial Applications to Boost R23 Refrigerant Demand The United States R23 refrigerant market is witnessing substantial growth driven by its widespread applications across various industries. R23, known chemically as trifluoromethane, plays a critical role in ultra-low temperature refrigeration systems, particularly in laboratory and medical applications where precise temperature control is essential. The pharmaceutical industry's expansion, with increased demand for cold chain logistics and biopharmaceutical storage, has significantly contributed to market growth. Recent data indicates that temperature-sensitive pharmaceutical products now account for over 25% of the total pharmaceutical market value, creating sustained demand for specialized refrigerants.

  6. MARKET OPPORTUNITIES The development of quantum computing technologies presents a significant opportunity for the R23 refrigerant market. Quantum computers require extremely low operating temperatures, typically below 0.1 Kelvin, creating specialized demand for ultra-low temperature refrigeration solutions. R23's thermodynamic properties make it suitable for these applications, positioning it as a critical component in the emerging quantum technology sector. COMPANY MISSION The demand for sustainable refrigerants is reshaping the market landscape, with increasing adoption of hydrocarbon-based and natural refrigerants. While R23 remains crucial for certain medical and industrial applications, its use in commercial refrigeration has dropped by over 40% in the past five years. Companies are accelerating R&D investments in next-generation refrigerants, with patent filings for alternative solutions increasing by 28% between 2020-2023. This shift is particularly evident in the air conditioning sector, where new systems utilizing R454B (GWP 466) and R32 (GWP 675) are gaining market share.

  7. REGIONAL MARKET OUTLOOK North America The U.S. dominates R23 consumption globally, accounting for 38% of market share due to robust industrial applications and pharmaceutical cold chain requirements. However, stringent regulations under the AIM Act mandate an 85% HFC production reduction by 2036, creating dual pressures for manufacturers. While medical and semiconductor sectors maintain critical demand, commercial applications are rapidly transitioning to alternatives like R454B. Europe EU F-gas regulations are accelerating R23 phase-out faster than global averages, with consumption declining 12% annually since 2020. Exemptions persist for PTFE manufacturing and cryogenic research applications, sustaining niche demand through licensed quotas. Market leaders like Arkema and Air Liquide are pioneering next-generation blends, investing over €200 million collectively in low-GWP refrigerant R&D.

  8. COMPETITIVELANDSCAPE • The Chemours Company (U.S.) • Honeywell International Inc. (U.S.) • Arkema S.A. (France) • Air Liquide (France) These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics. Download Free Sample Report

  9. www.24chemicalresearch.com About Us Founded in 2015, 24chemicalresearch is a trusted name in global chemical industry intelligence. We specialize in delivering high-quality market research reports, empowering over 30+ Fortune 500 clients with data-driven insights for strategic growth. Our team of experienced analysts delivers customized, reliable, and timely research backed by a rigorous methodology. From mining regulatory trends to forecasting market opportunities, our reports help companies navigate industry challenges, stay competitive, and grow confidently. As a one-stop platform for the chemical sector, we offer: • Deep specialization in chemical market analysis • Customized reports tailored to your needs • A robust portal with free samples, consulting, and competitive insights

  10. www.24chemicalresearch.com Contact Us: help@24chemicalresearch.com USA & International: +1 332 2424 294 Asia (India): +91 9169162030 Follow Us:

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