Press release
Green Refrigerants Market Expecting Huge Demand in Upcoming Years 2024 - 2031 | AGC Inc., Arkema SA, ASPEN Refrigerants Inc.
Green Refrigerants Market
Global green refrigerants market was valued at US$ 18.8 Billion in 2022 and is expected to reach US$ 32.1 Billion by 2030, exhibiting CAGR of 6.92% over the forecast period (2023-2030).
Market Dynamics:
The growth of the green refrigerants market is driven by the growing concerns about ozone depletion and global warming. Regulations banning hydrofluorocarbons with high global warming potential are also pushing the demand for eco-friendly refrigerants. Green refrigerants have lesser toxicity and higher energy efficiency compared to traditional refrigerants such as HFCs. Furthermore, the growing need for sustainable cooling from the commercial and industrial sector will also contribute to the market growth during the forecast period.
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Technology Advancements in CO2 Systems Present Lucrative Opportunities
Technical developments are helping address challenges related to carbon dioxide refrigeration systems making them more viable alternatives to HFCs. Equipment manufacturers are designing CO2 compressors, valves, and heat exchangers optimized for transcritical CO2 systems. Advancements in the field of heat transfer and energy recovery are improving the efficiency and performance of CO2 refrigeration modules. New system designs and control strategies are also lowering installation and operational costs. Such technological innovations are expected to boost the use of natural and eco-friendly CO2 refrigerant in commercial refrigeration over the forecast period.
Green Refrigerants Market Growth Accelerates with Rising Focus on Sustainability
Recent years have witnessed heightened focus on sustainability across industries and geographies. Organizations are actively pursuing pathways to reduce environmental footprint and transition to cleaner technologies. This works in favor of the growing green refrigerants market. End-users are increasingly willing to invest in green refrigerants driven solutions despite higher upfront costs for their long-term economic and ecological benefits. Manufacturers are also intensifying their R&D efforts to curb the price of green refrigerants and make them more competitive against synthetic alternatives. As sustainability gains more strategic importance, the demand for eco-friendly refrigeration technologies is likely to pick up pace, driving the green refrigerants market growth.
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Top Companies Featured in This Report:
★ AGC Inc.
★ Arkema SA
★ ASPEN Refrigerants Inc.
★ Daikin Industries Ltd
★ Global Refrigerants
★ Harp International Ltd.
★ Honeywell International Inc.
★ The Linde Group
★ SRF Limited
★ Tazzetti S.p.A.
★ The Chemours Company.
Market Segmentation:
By Product Type:
★ By Product Type: Hydrocarbons, Ammonia, Carbon dioxide, Water, Low-GWP Refrigerants, Hydrofluoroolefins (HFOs)
By Applications:
★ By Application: Domestic Refrigerationl, Commercial Refrigeration, Industrial Refrigeration, Stationary Air Conditioning, Mobile Air Conditioning, Transportation Refrigeration
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Green Refrigerants Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Green Refrigerants Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Green Refrigerants Market?
📈 How does the market share of Green Refrigerants Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Green Refrigerants Market?
📈 Which segment of the Green Refrigerants Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Green Refrigerants sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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