Natural Refrigerant Market Size, Share | Forecast Report 2033

The new report published by The Business Research Company, titled Natural Refrigerants Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the natural refrigerants market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The natural refrigerants market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.

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The Surge In Adoption Of Natural Refrigerants Fuels Market Growth
The increasing use of natural refrigerants is expected to propel the growth of the natural refrigerants market going forward. Natural refrigerants are substances derived from natural sources that are used in cooling systems as refrigerants and are less harmful to the environment than synthetic refrigerants. Many production plants are opting to use natural refrigerants in their cooling systems due to their more sustainable and future-proof properties, which aid in less energy utilization and reduced maintenance expenses than chemical refrigerants. For instance, in February 2022, statistics shared by Emerson, a US-based company operating in natural refrigerants, CO2 refrigeration has been widely employed in Europe, and currently, that tendency is continuing, with adoption in the United States and other nations rapidly expanding with 46,500 CO2 transcritical booster systems are currently in use across the world, including 900 in the United States (1,400 in North America if Canada is included), 40k in the EU, and 5k in Japan. Moreover, it expects CO2 adoption to increase by up to 50% by 2025 in the US. Therefore, the increasing use of natural refrigerants is driving the growth of the natural refrigerants market.

Innovative Drive In The Natural Refrigerant Market
Product innovation has emerged as a key trend gaining popularity in the natural refrigerant market. Major companies operating in the natural refrigerant market are concentrating on creating innovative products to strengthen their position in the market. For instance, in June 2022, ATMOsphere, a US-based natural refrigerant products and services provider, introduced the natural refrigerants label to offer best-in-class manufacturers of natural refrigerant systems and components. The label is intended to assist qualified producers in marketing goods to new consumers and areas in the fast-growing and highly competitive natural refrigerant sector, including ammonia/NH3 (R717) products. Furthermore, the badge is intended to assist end consumers in identifying best-in-class providers, and any unauthorized usage must be notified.

The natural refrigerants market covered in this report is segmented -

1) By Type: Ammonia (R-717), Carbon Dioxide (R-744), Hydrocarbons, Other Types
2) By Application: Refrigerators, Air Conditioning Systems, Other Applications
3) By End-Use Industry: Industrial, Commercial, Domestic

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Major companies operating in the natural refrigerants market report are Sinochem Corporation, Linde Plc, Air Liquide, Emerson Electric Co., Evonik Industries AG, Hess Corporation, Airgas Inc., Alfa Laval AB, TEKO, Carel Industries S.P.A, True Manufacturing Co. Inc., Secop Group Holding GmbH, A-Gas international, Güntner GmbH & Co KG, Casale SA, Tazzetti SpA, Westermeyer Industries, Puyang Zhongwei Fine Chemical Co. Ltd., HyChill Australia Pty Ltd., Natural Refrigerants Company, Shandong Shing Chemical Co Ltd., M&M Carnot, Engas Industries Pty. Ltd., A.S. Trust and Holdings, Nel Hydrogen, GTS S.p.A., Harp International Ltd.

Contents of the report:
1. Executive Summary
2. Natural Refrigerants Market Report Structure
3. Natural Refrigerants Market Trends And Strategies
4. Natural Refrigerants Market - Macro Economic Scenario
5. Natural Refrigerants Market Size And Growth
…..
27. Natural Refrigerants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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