Natural Refrigerants Market Trends: Steady Growth to US$ 1.55 Bn by 2030

The 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at US$ 1.13 Bn. in 2023 and the total revenue is expected to grow at 4.5% through 2024 to 2030, reaching nearly US$ 1.55 Bn.

𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

The natural refrigerants market is rapidly gaining traction as industries and governments seek sustainable alternatives to traditional synthetic refrigerants that contribute to environmental damage. Natural refrigerants, such as carbon dioxide (CO2), ammonia, hydrocarbons (propane, isobutene), and others, have very low or zero Global Warming Potential (GWP) and zero Ozone Depletion Potential (ODP), making them a more eco-friendly option. These substances are derived from naturally occurring sources and are increasingly used in various applications such as commercial and industrial refrigeration, domestic refrigerators, and air conditioning systems. With heightened concerns about climate change, the shift toward natural refrigerants is seen as an essential move for reducing the carbon footprint of refrigeration and cooling systems worldwide.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐋𝐚𝐭𝐞𝐬𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.maximizemarketresearch.com/request-sample/118102/

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

The increasing shift toward energy efficiency and sustainability is one of the primary drivers of the natural refrigerants market. Natural refrigerants are known for their exceptional thermodynamic properties, which enhance the efficiency of refrigeration systems. For example, hydrocarbons have a significantly higher latent heat of vaporization than synthetic refrigerants, leading to better performance and lower energy consumption. As a result, businesses and consumers are turning to these alternatives to reduce their energy costs while also contributing to environmental conservation. This trend is particularly noticeable in sectors like commercial refrigeration, where energy savings can be substantial. Additionally, natural refrigerants are often cheaper than their synthetic counterparts, which further encourages adoption in cost-conscious industries.

𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

The natural refrigerants market is witnessing a surge in demand driven by advancements in refrigerant technologies and innovations in system design. For instance, the application of CO2 in supermarket refrigeration and heat pump water heaters has become increasingly widespread due to its non-toxic, non-flammable, and cost-effective properties. This trend is expected to continue, with more industries adopting natural refrigerants as a solution to reduce their environmental footprint. Furthermore, the use of hydrocarbons in small to medium-sized refrigeration applications, such as domestic refrigerators, vending machines, and air conditioning systems, is on the rise. The efficient thermodynamic properties of hydrocarbons, combined with their low GWP, make them an attractive choice for various cooling applications.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐓𝐨𝐝𝐚𝐲 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬: https://www.maximizemarketresearch.com/inquiry-before-buying/118102

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

The market is experiencing a growth rate of approximately 12.5% CAGR through 2030, driven by the rising awareness about global warming potential (GWP) and ozone depletion. Government regulations, such as the Kigali Amendment to the Montreal Protocol, are pushing industries to reduce their dependency on synthetic refrigerants, which have a higher environmental impact.

Additionally, natural refrigerants are being increasingly adopted in applications such as air conditioning, industrial refrigeration, and transport refrigeration, making them integral to various sectors worldwide.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭

Vietnam: In Vietnam, the adoption of natural refrigerants is accelerating, as government regulations push for environmentally friendly technologies. Local manufacturers are also investing in new systems that utilize CO2 and ammonia to comply with the global push for lower-GWP solutions.

Japan and South Korea: Both Japan and South Korea have established themselves as leaders in HVAC technology, with South Korea witnessing a rapid transition towards natural refrigerants in its domestic market. Japan is advancing the development of innovative ammonia and CO2-based systems for both industrial and commercial applications.

European Union: European countries have long been at the forefront of regulating and promoting natural refrigerants. The European Union's strict F-gas regulations are a major driver, ensuring that the shift towards sustainable solutions remains a top priority for businesses in the region.

United States: The U.S. market is shifting as companies respond to the Environmental Protection Agency's (EPA) initiatives encouraging the use of natural refrigerants. Leading HVAC companies are integrating CO2 and ammonia solutions in response to demand from both commercial and industrial clients.

𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬

The market has seen several strategic mergers and acquisitions as companies aim to bolster their natural refrigerant capabilities. Companies are joining forces to combine expertise in both sustainable technologies and global distribution networks. These strategic moves are enabling rapid expansion into emerging markets like Vietnam and Thailand, where demand for greener solutions is on the rise.

𝐂𝐮𝐫𝐢𝐨𝐮𝐬 𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬? 𝐆𝐫𝐚𝐛 𝐘𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐓𝐨𝐝𝐚𝐲: https://www.maximizemarketresearch.com/request-sample/118102/

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐑𝐞𝐟𝐫𝐢𝐠𝐞𝐫𝐚𝐧𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭:

by Type

Ammonia (R-717)
Carbon Dioxide (R-744)
Hydrocarbons
Other

by End-Use

Commercial
Industrial
Domestic

𝐖𝐡𝐨 𝐢𝐬 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐞𝐫𝐬 𝐨𝐟 𝐘𝐞𝐫𝐛𝐚 𝐌𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞?

1. Linde Group
2. Airgas Inc.
3. A-Gas International
4. Sinochem
5. Puyang Zongwei Fine Chemical Co. Ltd.
6. Shangdong Yueon Chemical Co. Ltd.
7. Alfa Laval
8. Dorin S.p.A.
9. Energy Recovery, Inc.
10. engas Australasia
11. Evonik Industries AG
12. GEA Group Aktiengesellschaft
13. HyChill Australia
14. Intergas Heating Ltd
15. Johnson Controls, Inc.

𝐊𝐧𝐨𝐰 𝐌𝐨𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.maximizemarketresearch.com/market-report/global-natural-refrigerants-market/118102/

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