The Natural Refrigerants Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


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According to The Business Research Company’s Natural Refrigerants Global Market Report 2024, The natural refrigerants market size has grown strongly in recent years. It will grow from $1.41 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to environmental regulations, growing environmental awareness, energy efficiency concerns, cost competitiveness, rising demand for hvac systems.

The natural refrigerants market size is expected to see strong growth in the next few years. It will grow to $2.08 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to global warming potential (gwp) regulations, paris agreement commitments, consumer preference for sustainable products, expansion of cold chain logistics, awareness and education campaigns. Major trends in the forecast period include advancements in refrigeration technologies, adoption of co2 as a refrigerant, innovative system designs, iot integration in refrigeration, circular economy initiatives.

The increasing use of natural refrigerants is expected to propel the growth of the natural refrigerants market going forward. Natural refrigerants are substances derived from natural sources that are used in cooling systems as refrigerants and are less harmful to the environment than synthetic refrigerants. Many production plants are opting to use natural refrigerants in their cooling systems due to their more sustainable and future-proof properties, which aid in less energy utilization and reduced maintenance expenses than chemical refrigerants. For instance, in February 2022, statistics shared by Emerson, a US-based company operating in natural refrigerants, CO2 refrigeration has been widely employed in Europe, and currently, that tendency is continuing, with adoption in the United States and other nations rapidly expanding with 46,500 CO2 transcritical booster systems are currently in use across the world, including 900 in the United States (1,400 in North America if Canada is included), 40k in the EU, and 5k in Japan. Moreover, it expects CO2 adoption to increase by up to 50% by 2025 in the US. Therefore, the increasing use of natural refrigerants is driving the growth of the natural refrigerants market.

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The natural refrigerants market covered in this report is segmented –

1) By Type: Ammonia (R-717), Carbon Dioxide (R-744), Hydrocarbons, Other Types
2) By Application: Refrigerators, Air Conditioning Systems, Other Applications
3) By End-Use Industry: Industrial, Commercial, Domestic

Product innovation has emerged as a key trend gaining popularity in the natural refrigerant market. Major companies operating in the natural refrigerant market are concentrating on creating innovative products to strengthen their position in the market. For instance, in June 2022, ATMOsphere, a US-based natural refrigerant products and services provider, introduced the natural refrigerants label to offer best-in-class manufacturers of natural refrigerant systems and components. The label is intended to assist qualified producers in marketing goods to new consumers and areas in the fast-growing and highly competitive natural refrigerant sector, including ammonia/NH3 (R717) products. Furthermore, the badge is intended to assist end consumers in identifying best-in-class providers, and any unauthorized usage must be notified.

The natural refrigerants market report table of contents includes:
1. Executive Summary
2. Natural Refrigerants Market Characteristics
3. Natural Refrigerants Market Trends And Strategies
4. Natural Refrigerants Market - Macro Economic Scenario
5. Global Natural Refrigerants Market Size and Growth
..............
32. Global Natural Refrigerants Market Competitive Benchmarking
33. Global Natural Refrigerants Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Natural Refrigerants Market
35. Natural Refrigerants Market Future Outlook and Potential Analysis
36. Appendix


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