Natural Refrigerant Market Growth

Held the highest market share in 2022 and is expected to continue dominance, driven by the ability of refrigerants to absorb heat and decrease temperature.

WILMINGTON, DELAWARE, UNITED STATES, April 4, 2024 /EINPresswire.com/ -- Allied Market Research recently released a report titled "Natural Refrigerant Market by Gas (Carbon Dioxide, Ammonia, Hydrocarbons, and Others) by Application (Refrigerators, Air Conditioning Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global natural refrigerant market, valued at $1.5 billion in 2022, is anticipated to reach $2.7 billion by 2032, with a CAGR of 6.2% from 2023 to 2032.

Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/61953

Key Growth Drivers:

- Increasing demand for frozen food and dairy products.
- Properties of natural refrigerants such as non-toxicity, high efficiency, and environmental friendliness.
- Compatibility with a wide range of equipment.
- Technological advancements in green cooling.

Report Coverage Highlights:

- Forecast Period: 2023–2032
- Base Year: 2022
- Market Size in 2022: $1.5 billion
- Market Size in 2032: $2.7 billion
- CAGR: 6.2%
- Number of Pages in Report: 516
- Segments Covered: Gas, Application, and Region

Drivers:

- Increased Awareness Regarding Environment-Friendly Refrigerants.
- Rise in Demand For Frozen Food and Dairy Products.

Opportunity:

- Technological Developments in Green Cooling.

Restraint:

- Presence and Wide Acceptance of Synthetic Refrigerants.

Impact of Russia-Ukraine War:

- The conflict could disrupt the supply chain of natural refrigerants, particularly ammonia (NH3), as both countries are major producers and suppliers.
- Disruptions may lead to supply shortages or increased prices, causing shifts in demand and supply patterns.
- Businesses in this sector need to monitor the situation closely, diversify supply chains, and adapt strategies to mitigate risks.

Segment Insights:

- Carbon Dioxide Segment: Held the highest market share in 2022 and is expected to dominate due to its safety profile and suitability for various applications.
- Ammonia Segment: Projected to have the highest CAGR, attributed to its excellent thermodynamic properties and high energy efficiency.

Application Insights:

- Refrigerators Segment: Held the highest market share in 2022 and is expected to continue dominance, driven by the ability of refrigerants to absorb heat and decrease temperature.
- Air Conditioning Systems Segment: Expected to witness significant growth during the forecast period.

Regional Insights:

- Europe: Held the highest market share in 2022 and is expected to maintain dominance, driven by regulations promoting environmentally friendly solutions and increasing consumer awareness.
- Asia-Pacific: Projected to have the highest CAGR, driven by increasing demand and technological advancements.

Leading Market Players:

- DANFOSS AS
- LINDE PLC
- A-GAS INTERNATIONAL LTD
- EVONIK INDUSTRIES AG
- AGC INC.
- AIR LIQUIDE
- HYCHILL AUSTRALIA PTY LTD
- JOHNSON CONTROLS INTERNATIONAL PLC
- PUYANG ZHONGWEI FINE CHEMICAL CO., LTD
- DAIKIN INDUSTRIES LTD.

Strategic Analysis:

Market players have adopted strategies such as new product launches, collaborations, and expansions to increase market share.

Want to Access the Statistical Data and Graphs, Key Players' Strategies:
https://www.alliedmarketresearch.com/natural-refrigerant-market/purchase-options

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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