Data Center Refrigerant Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Data Center Refrigerant Market was valued at USD 581.1 million in 2023 and is projected to grow at a CAGR of over 9% from 2024 to 2032. The surge in cloud computing services and continuous advancements in cooling technologies are propelling this market's growth. Waterless cooling systems, which minimize water usage and boost energy efficiency, are becoming increasingly popular. These systems not only eliminate water consumption but also significantly cut energy costs. Moreover, the escalating demand for hyperscale data centers is creating vast opportunities for the data center refrigerant market.

The overall data center refrigerant industry is classified based on the refrigerant, data center, cooling, application, end-use, and region.

The market segments refrigerants into HFCs, HFOs, and others. In 2023, HFCs commanded a dominant 60% market share and are set to witness appreciable growth through 2032. Even with the global push for greener alternatives, HFCs remain in demand due to their entrenched presence in legacy data center cooling systems. Numerous data centers, built around familiar HFC systems with established supply chains, find transitioning to new refrigerants both costly and technically daunting. This entrenched reliance is further bolstered by incremental enhancements in HFC formulations, allowing for reduced environmental impact without necessitating a complete system overhaul.

The market categorizes data centers into enterprise, colocation, cloud, and hyperscale segments. In 2023, enterprise data centers held a 39% market share. The drive for energy efficiency and cost savings is fueling the growth of enterprise data centers. As businesses strive to optimize costs and boost energy efficiency, they are turning to advanced cooling systems that leverage high-performance refrigerants. Such systems not only curtail energy consumption but also trim cooling expenses, vital for the profitability and efficiency of enterprise data centers. This pivot towards performance-enhancing refrigerants, in line with energy management goals, underscores the growth of the data center refrigerant market for enterprises.

In 2023, North America led the global data center refrigerant market, capturing over 35% of the share. The swift embrace of AI and machine learning in the U.S. and Canada is propelling the demand for data center refrigerants. These advanced technologies, reliant on high-performance computing, generate significant heat. To counter this, data centers are increasingly adopting advanced refrigerants, ensuring efficient cooling. The imperative to sustain optimal conditions for AI-centric tasks amplifies the demand for innovative refrigerants and cooling solutions in North American data centers.

Product Code: 10746

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Manufacturer
- 3.2.4 Service provider
- 3.2.5 Technology providers
- 3.2.6 End user
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Transition to eco-friendly refrigerants
  - 3.8.1.2 Advancements in cooling technologies
  - 3.8.1.3 Expansion of hyperscale data centers
  - 3.8.1.4 Regulatory compliance for lower emissions
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High initial costs of new systems
  - 3.8.2.2 Complex integration with existing infrastructure
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Refrigerant ($Mn)

5.1 Key trends
5.2 HFCs
- 5.2.1 R-134A
- 5.2.2 R-404A
5.3 HFOs
5.4 Others

Chapter 6 Market Estimates and Forecast, By Data Center ($Mn)

6.1 Key trends
6.2 Enterprise
6.3 Colocation
6.4 Cloud
6.5 Hyperscale

Chapter 7 Market Estimates and Forecast, By Cooling ($Mn)

7.1 Key trends
7.2 Air cooling
7.3 Liquid cooling
7.4 Free cooling

Chapter 8 Market Estimates and Forecast, By Application ($Mn)

8.1 Key trends
8.2 IT cooling system
8.3 Facility cooling system

Chapter 9 Market Estimates and Forecast, By End-Use ($Mn)

9.1 Key trends
9.2 BFSI
9.3 IT and telecom
9.4 Government and defense
9.5 Healthcare
9.6 Energy
9.7 Manufacturing
9.8 Retail
9.9 Others

Chapter 10 Market Estimates and Forecast, By Region ($Mn)

10.1 Key trends, by region
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Netherlands
- 10.3.7 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Southeast Asia
- 10.4.7 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 3M
11.2 Air Liquide S.A.
11.3 Arkema
11.4 Asahi Glass Co. Ltd. (AGC)
11.5 Asetek
11.6 Cargill
11.7 Climalife
11.8 Daikin Industries
11.9 Dongyue Group
11.10 Dow
11.11 Honeywell International
11.12 Linde plc
11.13 M&I Materials
11.14 Orbia
11.15 Puyang Zhongwei Fine Chemical Co., Ltd.
11.16 Sinochem Group
11.17 SRF Limited
11.18 Tazzetti S.p.A.
11.19 The Chemours Company
11.20 Zhejiang Fotech International Co., Ltd.