Report Outlook
Market Size | CAGR | Dominating Region |
---|---|---|
USD 3.18 Billion by 2029 | 10.8% | Europe |
By Type | By End User | By Region |
---|---|---|
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|
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SCOPE OF THE REPORT
Natural Refrigerant Market Overview
The natural refrigerant market is expected to grow at 10.8% CAGR from 2022 to 2029. It is expected to reach above USD 3.18 Billion by 2029 from USD 1.40 Billion in 2020.
Chemicals that are produced naturally by biological processes are known as natural refrigerants. Also, compared to the fluorinated refrigerants that are frequently sold on the market, natural refrigerants like ammonia, carbon dioxide, and hydrocarbons have little to no impact on global warming. This is what is causing the market for natural refrigerants to increase. One of the best methods to permanently reduce greenhouse gas emissions is to switch to natural refrigerants; this is also one of the most economical climate mitigation strategies currently accessible. Yet, the danger of employing flammable natural refrigerants may slow the market’s expansion for these substances.
The demand for natural refrigerants is steadily rising due to growing worries over the damaging effects that HCFC and HFC-based refrigerants’ actions have on the environment. Because of recent technological advancements, natural refrigerants like NH3 and CO2 are now purposefully used in low temperature use cases in industrial applications. Several organic and inorganic natural ingredients are selected because they are less expensive to deploy, widely available, have high thermal conductivity and gas phase density, transfer heat at a substantial rate, and have less negative impacts. Also, many dangerous fluorocarbon-based refrigerants must be discontinued due to restrictions and compliances issued by governing authorities around the world.
ATTRIBUTE | DETAILS |
Study period | 2020-2029 |
Base year | 2021 |
Estimated year | 2022 |
Forecasted year | 2022-2029 |
Historical period | 2018-2020 |
Unit | Value (USD BILLION), (KILOTONS) |
Segmentation | By Type, By End user, By Region |
By Type |
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By End user |
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By Region |
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Inorganic refrigerants, natural refrigeration, true t-24-gc, undercounter freezer, residential beverage center, refrigerant properties, Freon refrigerant, ac refrigerant, natural refrigerant air conditioners, organic refrigerant, hydrocarbon refrigerant, R290 refrigerant, and ammonia refrigerant, to name a few, are some of the most significant corresponding factors and topics that have been influencing the market growth in many Leading and developing market players who have been spending a significant amount on research and development in these related areas have seen tremendous success in their companies.
Natural refrigerants can operate refrigeration and air conditioning systems effectively and are easy to create. They are also readily available for a long time. Even though ammonia is a great refrigerant and could be used for heat pumps as well (with some restrictions due to its high discharge temperature), its utilisation is complicated and, in reality, it is only financially viable for large units in the industrial refrigeration and district heating sectors.
Ozone-depleting chemicals (ODS) are classified in the United States as class I or class II controlled substances, according to the EPA (United States Environmental Protection Agency). With a few notable exceptions, class I substances, such chlorofluorocarbons (CFCs) and halons, have been phased out in the United States; as a result, no one is allowed to produce or import class I substances. All of the hydrochlorofluorocarbons (HCFCs) that make up class II substances are temporary replacements for a number of class I compounds. By 2020, the majority of HCFCs would no longer be produced or imported. Hence the market for natural refrigerants is anticipated to grow as a result of these laws.
There is often a risk involved while using flammable gas. Flame-retardant gases, such as propane or natural gas, are frequently used for heating in homes all around the world. A heat pump that uses a flammable refrigerant, on the other hand, aims to keep the refrigerant in a hermetically sealed system. Heat pumps with charge more than 150 grams are not subject to any applicable requirements, unlike refrigerators, which are permitted to use up to 150 grams of flammable refrigerant. According to certain authorities, utilising flammable refrigerants carries a little danger if specified safety measures are adopted. The charge can have a cap depending on the size of the room. The heat pump installation room needs to be well ventilated. There might not be any parts that, under normal circumstances, could ignite in the event of a leak.
Natural refrigerants are becoming more in demand as pressure on businesses and governments to embrace more environmentally friendly practices rises as concerns about climate change continue to spread worldwide. As a result, there is an increase in demand for natural refrigerants, especially in industries like food processing, supermarkets, and cold storage. Regulations are becoming stricter: The Montreal Protocol, which seeks to gradually phase out the manufacturing and consumption of ozone-depleting compounds, has caused the progressive phase-out of numerous synthetic refrigerants. Hydrofluorocarbons (HFCs), which are strong greenhouse gases, will also be phased out of usage thanks to the Kigali Amendment to the Montreal Protocol, which went into effect in 2019. More potential for natural refrigerants is anticipated as a result of this.
The COVID-19 epidemic has had a large effect on the world economy, which includes the market for natural refrigerants. Here are a few ways the epidemic has impacted the marketplace. Demand is slowing down: The pandemic has slowed down economic activity, especially in industries that heavily rely on natural refrigerants, like food production, supermarkets, and cold storage. Due to enterprises postponing expenditures and development plans, the market for natural refrigerants has decreased as a result. Supply chain disruption: The epidemic has caused supply chains to become unstable, especially for companies that depend on importing natural refrigerants or other components. This has resulted in price rises and shortages of some natural refrigerant types. Delays in regulatory actions due to the pandemic, various regulatory actions pertaining to natural refrigerants, notably as the phase-down of hydrofluorocarbons (HFCs) under the Kigali Amendment to the Montreal Protocol, have been delayed. Businesses who want to switch to natural refrigerants now face uncertainty as a result of this.
Natural Refrigerant Market Segment Analysis
The natural refrigerant market is segmented based on type, end user and region. By type, the market is bifurcated into (Ammonia, Carbon dioxide, Hydrocarbons, Others). By end user into (Commercial, Industrial, Domestic), and region.
Carbon dioxide is a form of gas that is colorless, heavier than air under normal circumstances, and odorless at low quantities. Its chemical symbol is CO2, R-744. Due to it not being harmful or combustible. The ozone layer is not affected by carbon dioxide at all. R-744, however, can be regarded as not causing climate change because it is produced as a byproduct of industrial processes and would otherwise be released into the atmosphere. Another benefit of R-744 is that it has a low price, a great coefficient of thermal transfer, and a very low viscosity.
In 2020, the refrigerator industry served as the main market for natural refrigerants, and it is anticipated that this market will expand at a CAGR of 4.9% over the next years. It comes in a variety of forms, including home, industrial, and more. Finding clean, environmentally acceptable refrigerants is urgently needed for a brighter future. The desire for the usage of natural refrigerants like CO2, NH3, and hydrocarbons, which are widely used in refrigerators, has been impacted by the search for refrigerants that do not contribute to the ozone layer depletion and global warming. In 2020, 193.4 million refrigerators will be produced, according to expert predictions. Thus, it is anticipated that the market for natural refrigerants would expand in the next years due to the rising public interest in and demand for residential refrigerators.
Natural Refrigerant Market Player
The Natural refrigerant market key players includes Airgas, Inc, SINOCHEM GROUP CO., LTD, engas Australasia, Harp International Ltd, Tazzetti S.p.A, Puyang Zhongwei Fine Chemical Co., Ltd, A- Gas, GTS SPA, Linde, True Manufacturing Co., Inc, Secop GmbH, DAIKIN INDUSTRIES, Ltd, Huayi Compressor Barcelona, Panasonic Corporation, HUURRE.
Recent News:
- 15 October 2020: Huurre has launched its new line of HI-QuadCore KS1000 AWP panels, which incorporated the new QuadCore insulating core and offers one of the best performances of all closed-cell insulating panel systems on the market.
- 15 December 2022: Huurre is proud of the two partnership agreements made this year 2022, Ocean Cats and Sèlvans, in the framework of the Planet Passionate Communities Fund program. The Planet Passionate Communities Fund program, integrated in the Kingspan group of companies, aims to support and finance projects to protect and conserve the environment, improve the health and education of our local communities and promote the improvement of the environments near our production centres.
Who Should Buy? Or Key stakeholders
- Natural refrigerant wholesalers and manufacturers
- Raw material suppliers and dealers
- Market product and service providers
- Environmental groups and NGOs
- Consumers
- Importers and exporters
- Research and development organizations
- National laboratories
- Government bodies and agencies
- Investors
- Regulatory Authorities
- Others
Natural Refrigerant Market Regional Analysis
The natural refrigerant market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
The largest market share belongs to Europe. The commercial sector’s expansion and a booming automobile sector are helping regional growth in Europe. Due to the high demand in air conditioners and refrigeration systems, regional businesses have increased their production of natural refrigerants. The second-largest market share belongs to Asia Pacific. The rising use of air conditioning equipment is responsible for this. There is a high demand for air conditioners in the homes due to the hot temperature. In addition, businesses are moving to these areas because of the low cost of labour.
The strict government requirements to phase out dangerous hydrofluorocarbon and hydro-chlorofluorocarbon refrigerants are expected to boost the market in North America. The Middle East’s thriving commercial industry has increased demand for natural refrigerants. Due to the prevalence of artificial refrigerants in the region, South America is developing slowly.
Key Market Segments: Natural refrigerant market
Natural Refrigerant Market By Type, 2020-2029, (USD Billion), (Kilotons).
- Ammonia
- Carbon Dioxide
- Hydrocarbons
- Others
Natural Refrigerant Market By End User, 2020-2029, (USD Billion), (Kilotons).
- Commercial
- Industrial
- Domestic
Natural Refrigerant Market By Region, 2020-2029, (USD Billion), (Kilotons).
- North America
- Asia Pacific
- Europe
- South America
- Middle East And Africa
Important Countries In All Regions Are Covered
Exactitude Consultancy Services Key Objectives:
- Increasing sales and market share
- Developing new application
- Improving profitability
- Entering new markets
- Enhancing brand reputation
Key Question Answered
- What is the expected growth rate of the natural refrigerant market over the next 7 years?
- Who are the major players in the natural refrigerant market and what is their market share?
- What are the end-user industries driving demand for market and what is their outlook?
- What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
- How is the economic environment affecting the natural refrigerant market, including factors such as interest rates, inflation, and exchange rates?
- What is the expected impact of government policies and regulations on the natural refrigerant market?
- What is the current and forecasted size and growth rate of the global natural refrigerant market?
- What are the key drivers of growth in the natural refrigerant market?
- What are the distribution channels and supply chain dynamics in the natural refrigerant market?
- What are the technological advancements and innovations in the natural refrigerant market and their impact on type development and growth?
- What are the regulatory considerations and their impact on the market?
- What are the challenges faced by players in the natural refrigerant market and how are they addressing these challenges?
- What are the opportunities for growth and expansion in the natural refrigerant market?
- What are the products offerings and specifications of leading players in the market?
- What is the pricing trend of natural refrigerant in the market and what is the impact of raw material prices on the price trend?
Table of Content
- INTRODUCTION
- MARKET DEFINITION
- MARKET SEGMENTATION
- RESEARCH TIMELINES
- ASSUMPTIONS AND LIMITATIONS
- RESEARCH METHODOLOGY
- DATA MINING
- SECONDARY RESEARCH
- PRIMARY RESEARCH
- SUBJECT-MATTER EXPERTS’ ADVICE
- QUALITY CHECKS
- FINAL REVIEW
- DATA TRIANGULATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- RESEARCH FLOW
- DATA SOURCES
- DATA MINING
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GLOBAL NATURAL REFRIGERANT MARKET OUTLOOK
- MARKET DRIVERS
- MARKET RESTRAINTS
- MARKET OPPORTUNITIES
- IMPACT OF COVID-19 ON NATURAL REFRIGERANT MARKET
- PORTER’S FIVE FORCES MODEL
- THREAT FROM NEW ENTRANTS
- THREAT FROM SUBSTITUTES
- BARGAINING POWER OF SUPPLIERS
- BARGAINING POWER OF CUSTOMERS
- DEGREE OF COMPETITION
- INDUSTRY VALUE CHAIN ANALYSIS
- GLOBAL NATURAL REFRIGERANT MARKET OUTLOOK
- GLOBAL NATURAL REFRIGERANT MARKET BY TYPE, 2020-2029, (USD BILLION), (KILOTONS)
- AMMONIA
- CARBON DIOXIDE
- HYDROCARBONS
- OTHERS
- GLOBAL NATURAL REFRIGERANT MARKET BY END USER, 2020-2029, (USD BILLION), (KILOTONS)
- COMMERCIAL
- INDUSTRIAL
- DOMESTIC
- GLOBAL NATURAL REFRIGERANT MARKET BY REGION, 2020-2029, (USD BILLION), (KILOTONS)
- NORTH AMERICA
- US
- CANADA
- MEXICO
- SOUTH AMERICA
- BRAZIL
- ARGENTINA
- COLOMBIA
- REST OF SOUTH AMERICA
- EUROPE
- GERMANY
- UK
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA PACIFIC
- INDIA
- CHINA
- JAPAN
- SOUTH KOREA
- AUSTRALIA
- SOUTH-EAST ASIA
- REST OF ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- UAE
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF MIDDLE EAST AND AFRICA
- NORTH AMERICA
- COMPANY PROFILES* (BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)
- AIRGAS, INC
- SINOCHEM GROUP CO., LTD
- ENGAS AUSTRALASIA
- HARP INTERNATIONAL LTD
- TAZZETTI S.P.A
- PUYANG ZHONGWEI FINE CHEMICAL CO.,LTD
- A- GAS
- GTS SPA
- LINDE
- TRUE MANUFACTURING CO., INC
- SECOP GMBH
- DAIKIN INDUSTRIES, LTD
- HUAYI COMPRESSOR BARCELONA
- PANASONIC CORPORATION
- HUURRE
*THE COMPANY LIST IS INDICATIVE
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 2 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 3 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 4 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 5 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY REGION (USD BILLIONS) 2020-2029
TABLE 6 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â GLOBAL NATURAL REFRIGERANT MARKET BY REGION (KILOTONS) 2020-2029
TABLE 7Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY COUNTRY (USD BILLIONS) 2020-2029
TABLE 8 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY COUNTRY (KILOTONS) 2020-2029
TABLE 9 Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â NORTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â US NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â US NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â US NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â US NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â CANADA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY COUNTRY (USD BILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY COUNTRY (KILOTONS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY COUNTRY (USD BILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY COUNTRY (KILOTONS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 55Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 56Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 57Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 58Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 59Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 60Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 61Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 62Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 63Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 64Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 65Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 66Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 67Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 68Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 69Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 70Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 71Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 72Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 73Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 74Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 75Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 76Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 77Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 78Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 79Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 80Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 81Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE NATURAL REFRIGERANT MARKET BY COUNTRY (USD BILLIONS) 2020-2029
TABLE 82Â Â Â Â Â Â Â Â Â Â Â Â Â EUROPE NATURAL REFRIGERANT MARKET BY COUNTRY (KILOTONS) 2020-2029
TABLE 83Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 84Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 85Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 86Â Â Â Â Â Â Â Â Â Â Â Â Â ASIA-PACIFIC NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 87Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 88Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 89Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 90Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 91Â Â Â Â Â Â Â Â Â Â Â Â Â UK NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 92Â Â Â Â Â Â Â Â Â Â Â Â Â UK NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 93Â Â Â Â Â Â Â Â Â Â Â Â Â UK NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 94Â Â Â Â Â Â Â Â Â Â Â Â Â UK NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 95Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 96Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 97Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 98Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 99Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 100Â Â Â Â Â Â Â Â Â Â Â ITALY NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 101Â Â Â Â Â Â Â Â Â Â Â ITALY NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 102Â Â Â Â Â Â Â Â Â Â Â ITALY NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 103Â Â Â Â Â Â Â Â Â Â Â SPAIN NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 104Â Â Â Â Â Â Â Â Â Â Â SPAIN NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 105Â Â Â Â Â Â Â Â Â Â Â SPAIN NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 106Â Â Â Â Â Â Â Â Â Â Â SPAIN NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 107Â Â Â Â Â Â Â Â Â Â Â RUSSIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 108Â Â Â Â Â Â Â Â Â Â Â RUSSIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 109Â Â Â Â Â Â Â Â Â Â Â RUSSIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 110Â Â Â Â Â Â Â Â Â Â Â RUSSIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 111Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 112Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 113Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 114Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 115Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY COUNTRY (USD BILLIONS) 2020-2029
TABLE 116Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY COUNTRY (KILOTONS) 2020-2029
TABLE 117Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 118Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 119Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 120Â Â Â Â Â Â Â Â Â Â Â MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 121Â Â Â Â Â Â Â Â Â Â Â UAE NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 122Â Â Â Â Â Â Â Â Â Â Â UAE NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 123Â Â Â Â Â Â Â Â Â Â Â UAE NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 124Â Â Â Â Â Â Â Â Â Â Â UAE NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 125Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 126Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 127Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 128Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 129Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 130Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 131Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 132Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
TABLE 133Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY TYPE (USD BILLIONS) 2020-2029
TABLE 134Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY TYPE (KILOTONS) 2020-2029
TABLE 135Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY END-USER (USD BILLIONS) 2020-2029
TABLE 136Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA NATURAL REFRIGERANT MARKET BY END-USER (KILOTONS) 2020-2029
LIST OF FIGURES
FIGURE 1 MARKET DYNAMICS
FIGURE 2 MARKET SEGMENTATION
FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4 DATA TRIANGULATION
FIGURE 5 BOTTOM-UP APPROACH
FIGURE 6 TOP-DOWN APPROACH
FIGURE 7 RESEARCH FLOW
FIGURE 8 GLOBAL NATURAL REFRIGERANT BY TYPE, USD BILLION, 2020-2029
FIGURE 9 GLOBAL NATURAL REFRIGERANT BY END USER, USD BILLION, 2020-2029
FIGURE 10 GLOBAL NATURAL REFRIGERANT BY REGION, USD BILLION, 2020-2029
FIGURE 11 PORTER’S FIVE FORCES MODEL
FIGURE 12 GLOBAL NATURAL REFRIGERANT BY TYPE, USD BILLION, 2021
FIGURE 13 GLOBAL NATURAL REFRIGERANT BY END USER, USD BILLION, 2021
FIGURE 14 GLOBAL NATURAL REFRIGERANT BY REGION, USD BILLION, 2021
FIGURE 15 MARKET SHARE ANALYSIS
FIGURE 16 AIRGAS, INC: COMPANY SNAPSHOT
FIGURE 17 SINOCHEM GROUP CO., LTD: COMPANY SNAPSHOT
FIGURE 18 ENGAS AUSTRALASIA: COMPANY SNAPSHOT
FIGURE 19 HARP INTERNATIONAL LTD: COMPANY SNAPSHOT
FIGURE 20 TAZZETTI S.P.A.: COMPANY SNAPSHOT
FIGURE 21 PUYANG ZHONGWEI FINE CHEMICAL CO. LTD: COMPANY SNAPSHOT
FIGURE 22 A- GAS: COMPANY SNAPSHOT
FIGURE 23 GTS SPA: COMPANY SNAPSHOT
FIGURE 24 LINDE: COMPANY SNAPSHOT
FIGURE 25 TRUE MANUFACTURING CO., INC: COMPANY SNAPSHOT
FIGURE 26 SECOP GMBH: COMPANY SNAPSHOT
FIGURE 27 DAIKIN INDUSTRIES, LTD: COMPANY SNAPSHOT
FIGURE 28 HUAYI COMPRESSOR BARCELONA: COMPANY SNAPSHOT
FIGURE 29 PANASONIC CORPORATION: COMPANY SNAPSHOT
FIGURE 30 HUURRE: COMPANY SNAPSHOT
FAQ
The natural refrigerant market is expected to grow at 10.8 % CAGR from 2022 to 2029. It is expected to reach above USD 3.18 Billion by 2029 from USD 1.40 Billion in 2020.
Europe held more than 38% of the Natural refrigerant market revenue share in 2021 and will witness expansion in the forecast period.
Natural refrigerants can operate refrigeration and air conditioning systems effectively and are easy to create. They are also readily available for a long time. Even though ammonia is a great refrigerant and could be used for heat pumps as well (with some restrictions due to its high discharge temperature), its utilisation is complicated and, in reality, it is only financially viable for large units in the industrial refrigeration and district heating sectors.
Chemicals that are produced naturally by biological processes are known as natural refrigerants. Also, compared to the fluorinated refrigerants that are frequently sold on the market, natural refrigerants like ammonia, carbon dioxide, and hydrocarbons have little to no impact on global warming. This is what is causing the market for natural refrigerants to increase. One of the best methods to permanently reduce greenhouse gas emissions is to switch to natural refrigerants; this is also one of the most economical climate mitigation strategies currently accessible. Yet, the danger of employing flammable natural refrigerants may slow the market’s expansion for these substances.
The largest market share belongs to Europe. The commercial sector’s expansion and a booming automobile sector are helping regional growth in Europe. Due to the high demand in air conditioners and refrigeration systems, regional businesses have increased their production of natural refrigerants. The second-largest market share belongs to Asia Pacific. The rising use of air conditioning equipment is responsible for this. There is a high demand for air conditioners in the homes due to the hot temperature. In addition, businesses are moving to these areas because of the low cost of labour.
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