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Natural Refrigerants Market Report Explored in Latest Research

09-22-2017 08:55 AM CET | Energy & Environment

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Natural Refrigerants Market Report Explored in Latest Research

Natural refrigerants are synthesized through a biochemical processusing natural resources. Growing concern regarding global warming and other environmental issueshas increased the need for natural refrigerants. Natural refrigerants such as ammonia, carbon dioxide, and hydrocarbons are processed from natural resources and are more eco-friendly as compared to conventional refrigerants.On the basis of application, the natural refrigerants market can be segmented into industrial refrigeration, commercial refrigeration, domestic refrigeration, stationary air conditioning refrigerants, and mobile air conditioning refrigerants.The global natural refrigerants market can be bifurcated on the basis of type of product such as ammonia, carbon dioxide, and hydrocarbons.

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On a global scale, natural refrigerants are largely consumed for refrigeration and airconditioning purpose.Currently, natural refrigerants available in the market include ammonia, carbon dioxide, and hydrocarbons. Among hydrocarbons, the commonly used refrigerants include iso-butane, propane, and propylene. Natural refrigerants are chieflyemployed in industrial, commercial, and domestic refrigeration systems. Apart from these, natural refrigerants are consumed in mobile air conditioning and stationary air conditioning. In industrial applications, ammonia holds major share among other natural refrigerants due to its higher coefficient of performance (CoP), zero ozone depletion potential (ODP), lower cost,and leakage rate. Major factor restricting growth of the natural refrigerants market is the initial high cost of installation of refrigeration systems.Other challenges faced by HVAC contractors are toxicity and flammability limits that occurdue to use of highly concentrated ammonia in smaller refrigeration systems.

Carbon dioxide is expected to hold the largest share of the global natural refrigerants market in commercial applications due to ease of handling. Recently, companies have started using ammonia along with carbon dioxide as a refrigerant in industrial applications due to its high performance. Natural refrigerants have low operating cost and are more effective than conventional refrigerants. HVAC manufacturers can focus more on employing these natural refrigerants for improving output performance of the system.

Natural refrigerants are widely used in industrial refrigeration systems for condensing, cooling, and storage of reactive chemicals. In commercial application, natural refrigerants are used insupermarkets and high-end retail outlets for refrigeration of food and beverages, household refrigerators, and other portable cold storage systems. Furthermore, natural refrigerants are employed in domestic split air conditioners and air conditioners in vehicles.

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Growth in the commercial sector and flourishing automotive industry is driving growth of the natural refrigerants market in Europe and North America. Improved standards of living and high disposable income in Asia Pacific are primarily fueling growth of the natural refrigerants market. The hospitality industry is flourishing in the Middle East. This, in turn, is anticipated to boost demand for air conditioners and refrigerating systems.

Some of the Key players in the global natural refrigerants market includeAirgas, Inc.,The Linde Group, A-Gas International, Hess Corporation, Sinochem, General Utilities, Puyang Zhongwei Fine Chemical Co.Ltd., HyChill, Engas Australasia, Tazzetti SpA, Deepfreeze Refrigerants Inc., and Shandong Yuan Chemical Co., Ltd. Global companies are investing more in R&D activities to develop new substitutes for conventional refrigerants.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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