Natural Refrigerant Market 2025: Unlocking Potential Growth Drivers

Allied Market Research has published a comprehensive report titled "Natural Refrigerant Market by Gas (Carbon Dioxide, Ammonia, Hydrocarbons, and Others) and Application (Refrigerators, Air Conditioning Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global natural refrigerant market was valued at $1.5 billion in 2022 and is projected to grow to $2.7 billion by 2032, registering a CAGR of 6.2% from 2023 to 2032.

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Market Dynamics:-

Key Growth Drivers:

- Rising global consumption of frozen food and dairy products.
- Increasing adoption of non-toxic, energy-efficient, and environmentally friendly refrigerants.
- Compatibility of natural refrigerants with a wide range of existing equipment.

Restraints:

- Continued reliance and widespread acceptance of synthetic refrigerants.

Opportunities:

- Ongoing technological advancements in green cooling solutions.

Geopolitical Impact: Russia-Ukraine War:-

The Russia-Ukraine conflict has introduced supply chain disruptions, particularly for natural refrigerants like ammonia, due to both nations' significant production capacities. These disruptions have reshaped regional supply and demand patterns, pushing companies to diversify sourcing strategies and reconfigure logistics networks to mitigate risk and maintain supply stability.

Segment Highlights:-

By Gas:

Carbon Dioxide (CO2):

Dominated the market in 2022, accounting for over 60% of global revenue. Its non-toxic profile and suitability for commercial refrigeration, especially in supermarkets, make it highly desirable.

Ammonia (NH3):

Forecast to grow at the highest CAGR of 6.8% through 2032, driven by its exceptional thermodynamic properties and energy efficiency, especially in industrial applications.

By Application:-

Refrigerators:

Accounted for over half of the global revenue in 2022 and are expected to maintain dominance. The segment is also projected to register the highest CAGR of 6.4%, thanks to natural refrigerants' capability to efficiently absorb and remove heat within the refrigeration cycle.

Regional Insights:-

Europe:

Held the largest market share in 2022, contributing to nearly 40% of global revenue. Regional policies such as the F-Gas Regulation and heightened environmental awareness are major growth drivers.

Asia-Pacific:

Poised to register the fastest CAGR of 7.2% during the forecast period, fueled by industrial expansion, food preservation needs, and infrastructure development.

Key Market Players

- Danfoss AS
- Linde PLC
- A-Gas International Ltd
- Evonik Industries AG
- AGC Inc.
- Air Liquide
- Hychill Australia Pty Ltd
- Johnson Controls International PLC
- Puyang Zhongwei Fine Chemical Co., Ltd
- Daikin Industries Ltd.

These companies are enhancing their market presence through product innovations, strategic collaborations, joint ventures, and regional expansions.

Obtain Report Details: https://www.alliedmarketresearch.com/natural-refrigerant-market-A61478

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