Natural Refrigerants Market size is valued at USD 1,563.2 million in 2021 and is expected to reach a value of USD 3,412.8 million by 2028, growing at a CAGR of 11.8% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and that can be segmented by type and application. By type, the natural refrigerants market has been segmented into ammonia, carbon dioxide, hydrocarbon and others. The carbon dioxide segment is likely to be the largest and fastest-growing segment in terms of type. Based on application, the market is segmented into industrial, commercial, domestic, stationary & mobile, and others. Among these, the industrial segment is expected to have the fastest-growing market during the forecast period 2022-2028.
In April 2021, TEGA GmbH acquired the Austrian refrigerants section of Linde. With this transaction, TEGA wants to forge closer ties with Austria’s natural refrigerant users.