The global Natural Refrigerant Market is expected to register a considerable growth by 2032: AMR


Posted November 20, 2023 by rushikeshsonar

A natural refrigerant is a substance derived from natural sources such as ammonia, water, or carbon dioxide that possesses favorable thermodynamic properties for heat transfer and is used in refrigeration and air conditioning systems.

 
A natural refrigerant is a substance derived from natural sources such as ammonia, water, or carbon dioxide that possesses favorable thermodynamic properties for heat transfer and is used in refrigeration and air conditioning systems. It is characterized by having low or zero ozone depletion potential (ODP) and low global warming potential (GWP), making it an environmentally friendly alternative to synthetic refrigerants. Natural refrigerants have minimal impact on climate change and thus serve as a sustainable and energy-efficient cooling solution.

The global natural refrigerant market was valued at $1.5 billion in 2022 and is projected to reach $2.7 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.

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Increased Awareness Regarding Environment-Friendly Refrigerants
Biological and chemical cycles in nature produce natural refrigerants without human intervention. Natural hydrocarbons, ammonia, carbon dioxide, water, and oxygen are substances with zero or close to zero global warming potential (GWP) and the potential to reduce energy, gas, and water consumption. Switching to natural refrigerants that are better for the sustainable development of the environment is one of the most effective methods to reduce greenhouse gas emissions.
With large gaps in the cooling system, these fluids are destroying the ozone layer, enhancing the greenhouse effect in the atmosphere, and contributing directly to global warming. Propane (R290), propylene (R1270), butane (R600), and isobutene (R600a) are the hydrocarbons that are currently the most popular refrigerants. Hydrocarbons can be used as long-term alternatives for residential air conditioning and heat transmission applications to increase productivity growth, as they provide good performance and reasonable energy savings without harming the environment.

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Natural refrigerants are inexpensive to produce, readily available over the long term, and permit the efficient operation of refrigeration and air conditioning systems. Although ammonia is a highly valuable refrigerant and could also be used for heat pumping (with some limitations due to its high discharge temperature), its use is complex, and it is only cost-effective for large-capacity units in the industrial refrigeration and district heating industries. Thus, all these factors collectively foster the expansion of the market for natural refrigerants.

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Key Benefits For Stakeholders
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the natural refrigerant market analysis from 2022 to 2032 to identify the prevailing natural refrigerant market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the natural refrigerant market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global natural refrigerant market trends, key players, market segments, application areas, and market growth strategies.


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Key Market Players:
Danfoss AS, Linde Plc, DAIKIN INDUSTRIES LTD., A-Gas International Ltd, Puyang Zhongwei Fine Chemical Co., Ltd, Johnson Controls International plc, AGC Inc., Evonik Industries AG, Air Liquide, HyChill Australia Pty Ltd

FREQUENTLY ASKED QUESTIONS?
Q1. What is the estimated industry size of Natural Refrigerant?
Answer: The natural refrigerant market attained $1.5 billion in 2022 and is projected to reach $2.7 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.
Q2. Which are the regions to be covered in the Natural Refrigerant Market?
Answer: Region-wise the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Q3. Which are the top companies to hold the market share in Natural Refrigerant?
Answer: Danfoss, Linde Plc, A-Gas International Ltd., Daikin Industries Ltd., Evonik Industries AG, AGC Inc., are the top companies to hold the market share in Natural Refrigerant.



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Issued By Rushikesh Sonar
Phone 15034461141
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David Correa
Country India
Categories Agriculture
Last Updated November 20, 2023