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:
Natural refrigerants are substances that exist naturally in the environment. With very low or zero global warming potential (GWP) and zero ozone depletion potential (ODP) they are considered the absolute solution of the environmental damage caused by synthetic refrigerants. The most widespread natural refrigerants used in HVAC/R applications are carbon dioxide (CO2, R-744), hydrocarbons such as propane (R-290), isobutene (R-600a), and propylene (R-1270), and ammonia (NH3, R-717). Other natural refrigerants are water (H2O, R-718) and air (R-729), used only for special applications, or sulfur dioxide (SO2) and methyl chloride (CH3Cl), which are no longer used.To know about the Research Methodology :- Request Free Sample Report
Report Scope
Global Natural Refrigerants Market, segmented by Type (Ammonia Refrigerant, Hydrocarbon Refrigerant, CO2 Refrigerant, Others Refrigerant), Application (Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration, Domestic Refrigeration, Stationary Air Conditioning, Mobile Air Conditioning, Others) Industry Trends, and restrains Natural refrigerants are created by using a biochemical process, which utilizes natural resources. Natural refrigerants are concerned about environmental issues, global warming, and the issue, which increased the demand for natural refrigerants. Comparingconventional refrigerants to natural refrigerants is more eco-friendly because it contains ammonia, hydrocarbons, and carbon dioxide, which are derived from natural resources.Research Methodology
The global natural refrigerant market report collects data from primary and secondary research. Secondary data has been collected from the internal database, paid sources, annual reports of businesses, news releases from the government, and price databases & many more sources. Secondary research has been conducted into various segments, to derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate, the country-level analysis is provided by analyzing various regional players, and consumer behaviour. The bottom-up approach was used for the estimation and validation of the global market. These methods were applied extensively for the estimation of the sub-segments and market size, including key players LG Electronics, Haier Group, Sony Corporation, Sichuan Changhong Electronics Co. Ltd., Samsung Electronics Co. Ltd., Koninklijke Philips N.V., Sharp Corporation, VIZIO Inc., Hisense Co., Ltd., Panasonic CorporationNatural Refrigerants Market Dynamics:
The increasing use of Natural refrigerants is driving the market growth Natural refrigerants are energy efficient, save money and they are sustainableHydrocarbon refrigerant mixtures are generally inexpensive, especially when compared to their synthetic components. They are more energy-efficientit can result in cutting costs by between 17%-38% on energy consumption, givingbusinesses more savings opportunities. As compared to synthetic refrigerantseco-friendly refrigerants work more effectively with a longer life time without replacement and save service cost. Sealing in Safety for Flammable Refrigerantsis restraining the market One of the biggest challenges of natural hydrocarbon refrigerants is flammability. To prevent a spark from accidentally causing an explosion of hydrocarbon refrigerants, Sensata has built extra safety into their pressure switches with a sealed design that ‘seals the spark’ inside by isolating the specific pressure media (R290) from the electrical switch assembly. Each switch is manufactured with a hermetic seal around the gas path as well as a sealant around the electrical connections. The electrical switch connections signal back to the system whether the switch is open or closed. This safety design completely eliminates the potential for explosion by stopping the gas from entering the electrical switch compartment where the arcs can be generated during contact make or break operations.Natural Refrigerants Market Segment Analysis:
By type, Carbon dioxide: Carbon dioxide (CO2, R-744) is a colourless fluid, heavier than air under normal conditions and odourless at low concentrations. Being a non-flammable and non-toxic substance. Zero Effect of carbon dioxide on the ozone layer. However, it can be considered that R-744 does not contribute to climate change, as is obtained as a by-product from industrial processes and would otherwise be emitted into the atmosphere. Another advantage R-744 is available at a low price with an excellent coefficient of thermal transfer and extremely low viscosity. As regards the applications in, which R-744 is being used as an alternative to synthetic refrigerants, one of the most popular is supermarket refrigeration. Other applications include heat pump water heaters, commercial refrigerated vending machines, secondary expansion systems, industrial and transport refrigeration systems or vehicle air-conditioning systems. Hydrocarbons: Hydrocarbons are odourless organic compounds made of nothing more than carbon and hydrogen atoms. They are flammable and non-toxic substances. Propane (R-290), isobutene (R-600a) and propylene (R-1270) are the most common hydrocarbons currently used in HVAC/R applications. Hydrocarbons operate at standard working pressures and have excellent thermodynamic properties, leading to high energy efficiency. For instance, the latent heat of vaporisation of hydrocarbons is almost two times higher than that of the most common HFC refrigerants (R-134a, R-404A and R-507): this means a higher cooling/heating effect for the same refrigerant mass flow. Hydrocarbons are technically viable for small and medium-sized refrigeration and air-conditioning applications, as well as chillers. Applications include domestic fridges, beverage coolers, vending machines, industrial refrigeration, transport refrigeration, small air conditioning systems, chillers, heat pumps and water heaters.Based on Installation type, With the growing public interest and demand for domestic refrigerators, the natural refrigerant market is expected to grow in the forecast period. The domestic refrigeration sector has a strong focus on its environmental impact. Regulation combined with consumer demand has led to substantially increased energy efficiency, combined with a move to lower GWP refrigerant gases.
Natural Refrigerants Market Regional Insights:
The natural refrigerants market was worth USD xx Million in 2023. This is on account of the various regulations that limit the usage of HFC and promote natural refrigerants. They are used in various applications for refrigeration: industrial, commercial and domestic; and air-conditioning: stationary and mobile among other applications such as in chillers and heat pumps. Increasing demand from refrigeration and air-conditioning (RAC) sector are also driving the growth for the market. Europe is the largest market majorly driven due to environmental concerns and emission regulations. Asia-Pacific ranks second in terms of market size, which is followed by North America. The manufacturers in the natural refrigerants market are looking to expand their distribution network to take advantage of the enforcement of regulations that have been estimated to increase the demand for natural refrigerants. Companies have used merger & acquisition strategy to expand their presence as well as to increase their production. The objective of the report is to present a comprehensive analysis of the Natural Refrigerants Marketto the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers,and analyzed entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal andfactors that are supposed to affect the business project negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.Natural Refrigerants Market Scope: Inquire before buying
Natural Refrigerants Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 1.13 Bn. Forecast Period 2024 to 2030 CAGR: 4.5% Market Size in 2030: US $ 1.55 Bn. Segments Covered: by Type Ammonia (R-717) Carbon Dioxide (R-744) Hydrocarbons Other by End-Use Commercial Industrial Domestic Natural Refrigerants Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Natural Refrigerants Market, Key Players are
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. 16. Natural Refrigerants Co. 17. Nidec Global Appliance 18. PuyangZhongwei Fine Chemical Co.,Ltd 19. Secop GmbH 20. Shandong Yuean New Material Co., Ltd. 21. TazzettiS.p.A. ("Tazzetti") 22. TEKO Gesellschaft fur 23. KaltetechTemprite Company 24. True Manufacturing Co., Inc. Frequently Asked Questions: 1. What is the forecast period considered for the Natural Refrigerants Market report? Ans. The forecast period for the Natural Refrigerants Market is 2024-2030 2. Which key factors are hindering the growth of the Natural Refrigerants Market? Ans. Sealing in Safety for Flammable Refrigerants is restraining the natural refrigerants market. 3. What is the compound annual growth rate (CAGR) of the Natural Refrigerants Market for the forecast period? Ans. 4.5 % is annual growth rate of natural refrigerants market. 4. What are the key factors driving the growth of the Natural Refrigerants Market? Ans. The increasing use of Natural refrigerants is driving the market growth are key factor of natural refrigerants market 5. Which are the worldwide major key players covered for the Natural Refrigerants Market report? Ans. Linde Group , Airgas Inc. , A-Gas International , Sinochem , Puyang Zongwei Fine Chemical Co. Ltd., Shangdong Yueon Chemical Co. Ltd.
1. Natural Refrigerants Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Natural Refrigerants Market: Dynamics 2.1. Natural Refrigerants Market Trends by Region 2.1.1. North America Natural Refrigerants Market Trends 2.1.2. Europe Natural Refrigerants Market Trends 2.1.3. Asia Pacific Natural Refrigerants Market Trends 2.1.4. Middle East and Africa Natural Refrigerants Market Trends 2.1.5. South America Natural Refrigerants Market Trends 2.2. Natural Refrigerants Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Natural Refrigerants Market Drivers 2.2.1.2. North America Natural Refrigerants Market Restraints 2.2.1.3. North America Natural Refrigerants Market Opportunities 2.2.1.4. North America Natural Refrigerants Market Challenges 2.2.2. Europe 2.2.2.1. Europe Natural Refrigerants Market Drivers 2.2.2.2. Europe Natural Refrigerants Market Restraints 2.2.2.3. Europe Natural Refrigerants Market Opportunities 2.2.2.4. Europe Natural Refrigerants Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Natural Refrigerants Market Drivers 2.2.3.2. Asia Pacific Natural Refrigerants Market Restraints 2.2.3.3. Asia Pacific Natural Refrigerants Market Opportunities 2.2.3.4. Asia Pacific Natural Refrigerants Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Natural Refrigerants Market Drivers 2.2.4.2. Middle East and Africa Natural Refrigerants Market Restraints 2.2.4.3. Middle East and Africa Natural Refrigerants Market Opportunities 2.2.4.4. Middle East and Africa Natural Refrigerants Market Challenges 2.2.5. South America 2.2.5.1. South America Natural Refrigerants Market Drivers 2.2.5.2. South America Natural Refrigerants Market Restraints 2.2.5.3. South America Natural Refrigerants Market Opportunities 2.2.5.4. South America Natural Refrigerants Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Natural Refrigerants Industry 2.8. Analysis of Government Schemes and Initiatives For Natural Refrigerants Industry 2.9. Natural Refrigerants Market Trade Analysis 2.10. The Global Pandemic Impact on Natural Refrigerants Market 3. Natural Refrigerants Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 3.1.1. Ammonia (R-717) 3.1.2. Carbon Dioxide (R-744) 3.1.3. Hydrocarbons 3.1.4. Other 3.2. Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 3.2.1. Commercial 3.2.2. Industrial 3.2.3. Domestic 3.3. Natural Refrigerants Market Size and Forecast, by Region (2023-2030) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Natural Refrigerants Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 4.1.1. Ammonia (R-717) 4.1.2. Carbon Dioxide (R-744) 4.1.3. Hydrocarbons 4.1.4. Other 4.2. North America Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 4.2.1. Commercial 4.2.2. Industrial 4.2.3. Domestic 4.3. North America Natural Refrigerants Market Size and Forecast, by Country (2023-2030) 4.3.1. United States 4.3.1.1. United States Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 4.3.1.1.1. Ammonia (R-717) 4.3.1.1.2. Carbon Dioxide (R-744) 4.3.1.1.3. Hydrocarbons 4.3.1.1.4. Other 4.3.1.2. United States Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 4.3.1.2.1. Commercial 4.3.1.2.2. Industrial 4.3.1.2.3. Domestic 4.7.2. Canada 4.3.2.1. Canada Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 4.3.2.1.1. Ammonia (R-717) 4.3.2.1.2. Carbon Dioxide (R-744) 4.3.2.1.3. Hydrocarbons 4.3.2.1.4. Other 4.3.2.2. Canada Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 4.3.2.2.1. Commercial 4.3.2.2.2. Industrial 4.3.2.2.3. Domestic 4.7.3. Mexico 4.3.3.1. Mexico Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 4.3.3.1.1. Ammonia (R-717) 4.3.3.1.2. Carbon Dioxide (R-744) 4.3.3.1.3. Hydrocarbons 4.3.3.1.4. Other 4.3.3.2. Mexico Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 4.3.3.2.1. Commercial 4.3.3.2.2. Industrial 4.3.3.2.3. Domestic 5. Europe Natural Refrigerants Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.2. Europe Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3. Europe Natural Refrigerants Market Size and Forecast, by Country (2023-2030) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.1.2. United Kingdom Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.2. France 5.3.2.1. France Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.2.2. France Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.3. Germany 5.3.3.1. Germany Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.3.2. Germany Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.4. Italy 5.3.4.1. Italy Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.4.2. Italy Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.5. Spain 5.3.5.1. Spain Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.5.2. Spain Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.6. Sweden 5.3.6.1. Sweden Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.6.2. Sweden Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.7. Austria 5.3.7.1. Austria Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.7.2. Austria Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 5.3.8.2. Rest of Europe Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6. Asia Pacific Natural Refrigerants Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.2. Asia Pacific Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.7. Asia Pacific Natural Refrigerants Market Size and Forecast, by Country (2023-2030) 6.3.1. China 6.3.1.1. China Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.1.2. China Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.2. S Korea 6.3.2.1. S Korea Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.2.2. S Korea Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.3. Japan 6.3.3.1. Japan Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.3.2. Japan Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.4. India 6.3.4.1. India Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.4.2. India Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.5. Australia 6.3.5.1. Australia Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.5.2. Australia Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.6. Indonesia 6.3.6.1. Indonesia Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.6.2. Indonesia Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.7. Malaysia 6.3.7.1. Malaysia Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.7.2. Malaysia Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.8. Vietnam 6.3.8.1. Vietnam Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.8.2. Vietnam Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.9. Taiwan 6.3.9.1. Taiwan Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.9.2. Taiwan Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 6.3.10.2. Rest of Asia Pacific Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 7. Middle East and Africa Natural Refrigerants Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 7.2. Middle East and Africa Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 7.7. Middle East and Africa Natural Refrigerants Market Size and Forecast, by Country (2023-2030) 7.7.1. South Africa 7.3.1.1. South Africa Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 7.3.1.2. South Africa Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 7.7.2. GCC 7.3.2.1. GCC Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 7.3.2.2. GCC Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 7.7.3. Nigeria 7.3.3.1. Nigeria Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 7.3.3.2. Nigeria Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 7.3.4.2. Rest of ME&A Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 8. South America Natural Refrigerants Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 8.2. South America Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 8.7. South America Natural Refrigerants Market Size and Forecast, by Country (2023-2030) 8.3.1. Brazil 8.3.1.1. Brazil Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 8.3.1.2. Brazil Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 8.3.2. Argentina 8.3.2.1. Argentina Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 8.3.2.2. Argentina Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Natural Refrigerants Market Size and Forecast, by Type (2023-2030) 8.3.3.2. Rest Of South America Natural Refrigerants Market Size and Forecast, by End-Use (2023-2030) 9. Global Natural Refrigerants Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Natural Refrigerants Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Linde Group 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Airgas Inc. 10.3. A-Gas International 10.4. Sinochem 10.5. Puyang Zongwei Fine Chemical Co. Ltd. 10.6. Shangdong Yueon Chemical Co. Ltd. 10.7. Alfa Laval 10.8. Dorin S.p.A. 10.9. Energy Recovery, Inc. 10.10. engas Australasia 10.11. Evonik Industries AG 10.12. GEA Group Aktiengesellschaft 10.13. HyChill Australia 10.14. Intergas Heating Ltd 10.15. Johnson Controls, Inc. 10.16. Natural Refrigerants Co. 10.17. Nidec Global Appliance 10.18. PuyangZhongwei Fine Chemical Co.,Ltd 10.19. Secop GmbH 10.20. Shandong Yuean New Material Co., Ltd. 10.21. TazzettiS.p.A. ("Tazzetti") 10.22. TEKO Gesellschaft fur 10.23. KaltetechTemprite Company 10.24. True Manufacturing Co., Inc. 11. Key Findings 12. Industry Recommendations 13. Natural Refrigerants Market: Research Methodology 14. Terms and Glossary