- Ammonia
- Carbon Dioxide
- Hydrocarbon
- Others
Natural Refrigerants Market size is valued at USD 1,563.2 million in 2022 and is expected to reach a value of USD 3,412.8 million by 2029, growing at a CAGR of 11.8% during the forecast period 2023 to 2029. 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 2023-2029.
The Natural Refrigerants Market Key Developments:
- 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.
Natural Refrigerants Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
11.8%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Natural Refrigerants Market Dynamics
The market is positively impacted by various factors including the rise in consumer appliance sales around the world, the need for better maintenance of industrial equipment that needs a cold environment. Also, the expansion of different end-use industries, rapid urbanization, changes in lifestyle, high disposable income, and the existence of various compliances are other factors responsible for the market growth.
Asia-Pacific Got Significant Share
Natural Refrigerants Market Regional Analysis
By region, the Asia Pacific market is expected to witness the highest market share during the forecast period due to the substantial increase in the use of natural refrigerants in many end-use verticals. Europe is the region that produces the most in this market. Regional growth is aided by the development of the business sector and thriving automobile industry. Local companies have increased their production of natural refrigerants in response to the rising demand for air conditioners and refrigeration systems.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The natural refrigerants market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The natural refrigerants market report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The natural refrigerants market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The natural refrigerants market report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The natural refrigerants market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Natural Refrigerants Market Segmentation
By Type
By Application
- Industrial
- Commercial
- Domestic
- Stationary & Mobile
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America and
- Middle East and Africa
Frequently Asked Questions
The natural refrigerants market is projected to expand at a CAGR of 11.8% during the forecast period.
The major players in the global natural refrigerants market are The Linde Group, A-Gas, ternational, Hess Corporation, Shecco, Sinochem, Puyang Zhongwei Fine Chemical Co. Ltd., HyChill, Engas Australasia, Tazzetti SpA, Deepfreeze Refrigerants Inc., Shandong Yuan and Chemical Co. Ltd.
Asia Pacific is the fastest-growing region for natural refrigerants market
| 1. Executive Summary |
| 2. Global Natural Refrigerants Market Introduction |
| 2.1. Global Natural Refrigerants Market - Taxonomy |
| 2.2. Global Natural Refrigerants Market - Definitions |
| 2.2.1. By Type |
| 2.2.2. By Application |
| 2.2.3. By Region |
| 3. Global Natural Refrigerants Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Natural Refrigerants Market Dynamic Factors - Impact Analysis |
| 3.6. Global Natural Refrigerants Market - Competition Landscape |
| 4. Global Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Natural Refrigerants Market, By Type , 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 5.1. Ammonia |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Carbon Dioxide |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Hydrocarbon |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Natural Refrigerants Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 6.1. Industrial |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Commercial |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Domestic |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Stationary & Mobile |
| 6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Natural Refrigerants Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Natural Refrigerants Market - Opportunity Analysis Index, By Type, Application, and Region, 2023-2029 |
| 8. North America Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 8.1. By Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Ammonia |
| 8.1.2. Carbon Dioxide |
| 8.1.3. Hydrocarbon |
| 8.1.4. others |
| 8.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1. Industrial |
| 8.2.2. Commercial |
| 8.2.3. Domestic |
| 8.2.4. Stationary & Mobile |
| 8.2.5. Others |
| 8.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Natural Refrigerants Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029 |
| 8.5. North America Natural Refrigerants Market Dynamics - Trends |
| 9. Europe Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 9.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Ammonia |
| 9.1.2. Carbon Dioxide |
| 9.1.3. Hydrocarbon |
| 9.1.4. others |
| 9.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1. Industrial |
| 9.2.2. Commercial |
| 9.2.3. Domestic |
| 9.2.4. Stationary & Mobile |
| 9.2.5. Others |
| 9.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Rest of Europe |
| 9.4. Europe Natural Refrigerants Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029 |
| 9.5. Europe Natural Refrigerants Market Dynamics - Trends |
| 10. Asia-Pacific Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 10.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Ammonia |
| 10.1.2. Carbon Dioxide |
| 10.1.3. Hydrocarbon |
| 10.1.4. others |
| 10.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Industrial |
| 10.2.2. Commercial |
| 10.2.3. Domestic |
| 10.2.4. Stationary & Mobile |
| 10.2.5. Others |
| 10.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. China |
| 10.3.2. India |
| 10.3.3. Japan |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Natural Refrigerants Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029 |
| 10.5. Asia-Pacific Natural Refrigerants Market Dynamics - Trends |
| 11. Latin America Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 11.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Ammonia |
| 11.1.2. Carbon Dioxide |
| 11.1.3. Hydrocarbon |
| 11.1.4. others |
| 11.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Industrial |
| 11.2.2. Commercial |
| 11.2.3. Domestic |
| 11.2.4. Stationary & Mobile |
| 11.2.5. Others |
| 11.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Natural Refrigerants Market - Opportunity Analysis Index, By Type , Application, and Country, 2023-2029 |
| 11.5. Latin America Natural Refrigerants Market Dynamics - Trends |
| 12. Middle East and Africa Natural Refrigerants Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn)Â |
| 12.1. Type Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Ammonia |
| 12.1.2. Carbon Dioxide |
| 12.1.3. Hydrocarbon |
| 12.1.4. others |
| 12.2. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Industrial |
| 12.2.2. Commercial |
| 12.2.3. Domestic |
| 12.2.4. Stationary & Mobile |
| 12.2.5. Others |
| 12.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Natural Refrigerants Market - Opportunity Analysis Index, By Type, Application, and Country, 2023-2029 |
| 12.5. MEA Natural Refrigerants Market Dynamics - Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Storage Type Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. The Linde Group |
| 13.2.2. A-Gas International |
| 13.2.3. Hess Corporation |
| 13.2.4. Shecco |
| 13.2.5. Sinochem |
| 13.2.6. Puyang Zhongwei Fine Chemical Co. Ltd. |
| 13.2.7. HyChill, Engas Australasia |
| 13.2.8. Tazzetti SpA |
| 13.2.9. Deepfreeze Refrigerants Inc. |
| 13.2.10. Shandong Yuan Chemical Co. Ltd. |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
- The Linde Group
- A-Gas International
- Hess Corporation
- Shecco
- Sinochem
- Puyang Zhongwei Fine Chemical Co. Ltd.
- HyChill, Engas Australasia
- Tazzetti SpA
- Deepfreeze Refrigerants Inc.
- Shandong Yuan Chemical Co. Ltd.