Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "Natural Refrigerants - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Natural Refrigerants was estimated at US$1.6 Billion in 2023 and is projected to reach US$2.4 Billion by 2030, growing at a CAGR of 5.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the natural refrigerants market is driven by several factors, including increasing regulatory pressure to reduce greenhouse gas emissions, technological advancements in refrigeration systems, and the growing demand for energy-efficient cooling solutions. The implementation of stringent regulations to phase out synthetic refrigerants with high GWP is pushing industries to adopt natural refrigerants as a sustainable alternative.
Additionally, the rising demand for environmentally friendly cooling solutions in sectors like food and beverage, retail, and industrial manufacturing is accelerating the use of natural refrigerants in both new and retrofitted systems. Consumer awareness and preference for green products are further driving demand in sectors such as domestic refrigeration and HVAC.
Technological advancements, particularly in CO2-based transcritical systems and low-charge ammonia systems, are enhancing the efficiency and safety of natural refrigerants, making them more accessible for wider applications. Finally, the expansion of cold chain logistics, particularly in emerging markets, is creating significant opportunities for natural refrigerant adoption, as industries seek to modernize their refrigeration infrastructure in compliance with global environmental standards.
What Emerging Trends Are Shaping the Natural Refrigerants Market?
Several key trends are driving innovation and adoption in the natural refrigerants market. The push for energy-efficient solutions is a major trend, as companies are developing new technologies that enhance the efficiency of systems using natural refrigerants. For example, advances in heat exchanger design and compressor technology are improving the performance of ammonia and CO2-based systems.
Another significant trend is the increasing use of natural refrigerants in transcritical CO2 systems, which are being widely adopted in cold storage and supermarket refrigeration due to their superior energy performance in warmer climates. Regulatory frameworks, particularly in Europe and North America, are also shaping the market, as governments impose stricter limits on the use of high-GWP refrigerants, driving industries to transition to natural alternatives. Additionally, the development of training programs and safety guidelines for handling natural refrigerants is improving market readiness, as these refrigerants, particularly ammonia, require specialized knowledge and equipment for safe use.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as A-Gas International, Air Liquide SA, Arkema Group, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Refrigerators Application segment, which is expected to reach US$1.3 Billion by 2030 with a CAGR of a 5.2%. The Air Conditioning Systems Application segment is also set to grow at 5.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was valued at $430.0 Million in 2023, and China, forecasted to grow at an impressive 8.3% CAGR to reach $536.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 197 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2030 | $2.4 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Natural Refrigerants - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Global Demand for Eco-Friendly and Low-GWP Refrigerants Propels Market for Natural Refrigerants
- Stringent Environmental Regulations on Hydrofluorocarbons (HFCs) Drive Adoption of Natural Refrigerants Across Industries
- Increasing Use of CO2 (R744) Refrigerants in Commercial and Industrial Cooling Systems Expands Market Opportunities
- Advancements in Ammonia (R717) Refrigeration Technologies Enhance Efficiency and Safety in Large-Scale Industrial Applications
- Growing Focus on Sustainable and Energy-Efficient Cooling Solutions Drives Innovation in Hydrocarbon-Based Refrigerants
- Rising Adoption of Natural Refrigerants in Food and Beverage Industry for Cold Storage and Refrigerated Transportation
- Emerging Trend of Natural Refrigerants in Air Conditioning Systems Boosts Market Growth in Residential and Commercial Sectors
- Government Incentives and Rebates for Environmentally Friendly Refrigeration Solutions Accelerate Market Adoption
- Technological Innovations in Heat Pump Systems Utilizing Natural Refrigerants Propel Growth in HVAC Applications
- Increasing Demand for Green Building Solutions Drives the Use of Natural Refrigerants in Energy-Efficient Building Designs
- Rising Concerns Over Global Warming Potential (GWP) and Ozone Depletion Fuels the Shift Toward Natural Refrigerants
FOCUS ON SELECT PLAYERS(Total 47 Featured):
- A-Gas International
- Air Liquide SA
- Arkema Group
- Asahi Glass Co., Ltd.
- Changsu 3f Fluorochemical Industry Co. Ltd.
- Daikin Industries Ltd.
- Dongyue Group Ltd.
- Gas Servei S.A.
- Gujarat Fluorochemicals Ltd.
- Harp International Ltd.
- Honeywell International, Inc.
- Linde AG
- Mexichem Fluor S.A. de C.V.
- Navin Fluorine International Limited
- Oz-Chill Refrigerants
- Quimobasicos
- Refrigerant Solutions Inc.
- Shandong Yuhuang Chemical (Group) Co., Ltd.
- Sinochem Group Co., Ltd.
- SRF Ltd.
- Tazzetti S.p.A.
- The Chemours Company
- Zhejiang Fotech International Co Ltd.
- Zhejiang Juhua Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/z1jgup
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