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Global Natural Refrigerants Market Size Study & Forecast, by Type (Hydrocarbons, Ammonia, Carbon Dioxide), by End-Use Industry (Industrial, Commercial, Domestic), and Regional Analysis, 2023-2030

September 2023 | 200 pages | ID: GA37A70F91EBEN
Bizwit Research & Consulting LLP

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Global Natural Refrigerants Market is valued at approximately USD 1.50 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2023-2030. Natural refrigerants are substances that are used as cooling agents in refrigeration and air conditioning systems. Biochemical techniques are used to produce natural refrigerants. Some basic natural refrigerants are ammonia, carbon dioxide (CO2), and hydrocarbons. Potential demand for the product has been generated by growing concerns about the environment. These refrigerants are more ecologically friendly than traditional refrigerants because they are made from natural resources. Artificial refrigerants deplete the ozone layer severely and accelerate global warming. It is efficiently used as an ideal substitute for hydrofluorocarbons (HFC), hydrochlorofluorocarbons (HCFC), and chlorofluorocarbons (CFC) because the product is more effective. The growing awareness regarding environment-friendly refrigerants, low environmental impact, effects of global warming, and surging demand for refrigeration and air-conditioning applications are the factors that are attributing to the market growth across the globe.

In addition, the rising number of government initiatives and protocols to control greenhouse gas emissions, along with eliminating the utilization of synthetic refrigerants is acting as a catalyzing factor for market growth across the globe. For instance, in August 2021, The Union Cabinet of India has given its consent for the indorsement of the Kigali Amendment to the Montreal Protocol on Substances that Deplete the Ozone Layer for the phase down of Hydroflurocarbons (HFCs) by India, implemented by the Parties to the Montreal Protocol on October 2016 at 28th Meeting of the Parties to the Montreal Protocol held at Kigali, Rwanda. The elimination of HFCs is anticipated to stop the release of greenhouse gases, which helps in preventing climate change and is advantageous to the public. Thus, these aforementioned factors are propelling the growth of the Natural Refrigerants Market during the estimated period. Moreover, the surging technological advancements in green cooling, as well as the increasing number of government initiatives present various lucrative opportunities over the forecast years. However, the higher initial capital cost requirement and the lack of education and awareness of HVAC contractors and technicians are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Natural Refrigerants Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the rising environmental concerns and emission regulations, as well as strong demand for air conditioners and refrigerating systems. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The growing emphasis on controlling greenhouse gas emissions, and the imposition of stringent government regulations to phase out harmful hydrofluorocarbon and hydro-chlorofluorocarbon refrigerants are significantly propelling the market demand across the region.

Major market players included in this report are:

Air Liquide (France)

Linde plc (Ireland)

A-Gas International Ltd. (U.K.)

HyChill Australia Pty Ltd (Australia)

engas Australasia (Australia)

Tazzetti S.p.A. (Italy)

Shandong Yuean Chemical Industry Co., Ltd. (China)

AGC Inc. (Japan)

Puyang Zhongwei Fine Chemical Co., Ltd. (China)

Danfoss (Denmark)

Recent Developments in the Market:
  • In March 2023, Danfoss announced that the company acquired BOCK GmbH, a producer of low-GWP and carbon dioxide compressors. For natural refrigerants such as hydrocarbons, CO2 (R744), and other low-GWP refrigerants, BOCK GmbH has one of the broadest product ranges of compressors. The agreement aims to accelerate the shift to natural and low-GWP refrigerants worldwide and increase energy efficiency.
  • In February 2023, Linde signed a long-term deal and made an investment of about USD 1.8 billion in order to deliver clean hydrogen and nitrogen to OCI's new, massive blue ammonia factory in Beaumont, Texas. The Beaumont plant is focusing on expanding and solidifying the industry's premier blue ammonia and clean fuels platform.
Global Natural Refrigerants Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Type, End-Use Industry, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Hydrocarbons

Ammonia

Carbon Dioxide

By End-Use Industry:

Industrial

Commercial

Domestic

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Natural Refrigerants Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Natural Refrigerants Market, by Type, 2020-2030 (USD Billion)
  1.2.3. Natural Refrigerants Market, by End-Use Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL NATURAL REFRIGERANTS MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL NATURAL REFRIGERANTS MARKET DYNAMICS

3.1. Natural Refrigerants Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Growing awareness regarding environment-friendly refrigerants
    3.1.1.2. Rising number of government initiatives and protocols to control greenhouse gas emissions
  3.1.2. Market Challenges
    3.1.2.1. Higher initial capital cost requirement
    3.1.2.2. Lack of education and awareness among HVAC contractors and technicians
  3.1.3. Market Opportunities
    3.1.3.1. Surging technological advancements in green cooling
    3.1.3.2. Increasing number of government initiatives

CHAPTER 4. GLOBAL NATURAL REFRIGERANTS MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL NATURAL REFRIGERANTS MARKET, BY TYPE

5.1. Market Snapshot
5.2. Global Natural Refrigerants Market by Type, Performance - Potential Analysis
5.3. Global Natural Refrigerants Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Natural Refrigerants Market, Sub Segment Analysis
  5.4.1. Hydrocarbons
  5.4.2. Ammonia
  5.4.3. Carbon Dioxide

CHAPTER 6. GLOBAL NATURAL REFRIGERANTS MARKET, BY END-USE INDUSTRY

6.1. Market Snapshot
6.2. Global Natural Refrigerants Market by End-Use Industry, Performance - Potential Analysis
6.3. Global Natural Refrigerants Market Estimates & Forecasts by End-Use Industry 2020-2030 (USD Billion)
6.4. Natural Refrigerants Market, Sub Segment Analysis
  6.4.1. Industrial
  6.4.2. Commercial
  6.4.3. Domestic

CHAPTER 7. GLOBAL NATURAL REFRIGERANTS MARKET, REGIONAL ANALYSIS

7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Natural Refrigerants Market, Regional Market Snapshot
7.4. North America Natural Refrigerants Market
  7.4.1. U.S. Natural Refrigerants Market
    7.4.1.1. Type breakdown estimates & forecasts, 2020-2030
    7.4.1.2. End-Use Industry breakdown estimates & forecasts, 2020-2030
  7.4.2. Canada Natural Refrigerants Market
7.5. Europe Natural Refrigerants Market Snapshot
  7.5.1. U.K. Natural Refrigerants Market
  7.5.2. Germany Natural Refrigerants Market
  7.5.3. France Natural Refrigerants Market
  7.5.4. Spain Natural Refrigerants Market
  7.5.5. Italy Natural Refrigerants Market
  7.5.6. Rest of Europe Natural Refrigerants Market
7.6. Asia-Pacific Natural Refrigerants Market Snapshot
  7.6.1. China Natural Refrigerants Market
  7.6.2. India Natural Refrigerants Market
  7.6.3. Japan Natural Refrigerants Market
  7.6.4. Australia Natural Refrigerants Market
  7.6.5. South Korea Natural Refrigerants Market
  7.6.6. Rest of Asia Pacific Natural Refrigerants Market
7.7. Latin America Natural Refrigerants Market Snapshot
  7.7.1. Brazil Natural Refrigerants Market
  7.7.2. Mexico Natural Refrigerants Market
7.8. Middle East & Africa Natural Refrigerants Market
  7.8.1. Saudi Arabia Natural Refrigerants Market
  7.8.2. South Africa Natural Refrigerants Market
  7.8.3. Rest of Middle East & Africa Natural Refrigerants Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Company
  8.1.2. Company
  8.1.3. Company
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Air Liquide (France)
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Recent Developments
  8.3.2. Linde plc (Ireland)
  8.3.3. A-Gas International Ltd. (U.K.)
  8.3.4. HyChill Australia Pty Ltd (Australia)
  8.3.5. engas Australasia (Australia)
  8.3.6. Tazzetti S.p.A. (Italy)
  8.3.7. Shandong Yuean Chemical Industry Co., Ltd. (China)
  8.3.8. AGC Inc. (Japan)
  8.3.9. Puyang Zhongwei Fine Chemical Co., Ltd. (China)
  8.3.10. Danfoss (Denmark)

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption
LIST OF TABLES

TABLE 1. Global Natural Refrigerants Market, report scope
TABLE 2. Global Natural Refrigerants Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Natural Refrigerants Market estimates & forecasts by Type 2020-2030 (USD Billion)
TABLE 4. Global Natural Refrigerants Market estimates & forecasts by End-Use Industry 2020-2030 (USD Billion)
TABLE 5. Global Natural Refrigerants Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 6. Global Natural Refrigerants Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Natural Refrigerants Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Natural Refrigerants Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Natural Refrigerants Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Natural Refrigerants Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Natural Refrigerants Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Natural Refrigerants Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Natural Refrigerants Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Natural Refrigerants Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. U.S. Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 17. U.S. Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. Canada Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 19. Canada Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. UK Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 22. UK Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. Germany Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 25. Germany Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. France Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 28. France Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. Italy Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 31. Italy Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Spain Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 34. Spain Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. RoE Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 37. RoE Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. China Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 40. China Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. India Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 43. India Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. Japan Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 46. Japan Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. South Korea Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 49. South Korea Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. Australia Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 52. Australia Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. RoAPAC Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 55. RoAPAC Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. Brazil Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 58. Brazil Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Mexico Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 61. Mexico Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. RoLA Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 64. RoLA Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. Saudi Arabia Natural Refrigerants Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 67. South Africa Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. RoMEA Natural Refrigerants Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. List of secondary sources, used in the study of global Natural Refrigerants Market
TABLE 70. List of primary sources, used in the study of global Natural Refrigerants Market
TABLE 71. Years considered for the study
TABLE 72. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
LIST OF FIGURES

FIG 1. Global Natural Refrigerants Market, research methodology
FIG 2. Global Natural Refrigerants Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Natural Refrigerants Market, key trends 2022
FIG 5. Global Natural Refrigerants Market, growth prospects 2023-2030
FIG 6. Global Natural Refrigerants Market, porters 5 force model
FIG 7. Global Natural Refrigerants Market, pest analysis
FIG 8. Global Natural Refrigerants Market, value chain analysis
FIG 9. Global Natural Refrigerants Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Natural Refrigerants Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Natural Refrigerants Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Natural Refrigerants Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Natural Refrigerants Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Natural Refrigerants Market, regional snapshot 2020 & 2030
FIG 15. North America Natural Refrigerants Market 2020 & 2030 (USD Billion)
FIG 16. Europe Natural Refrigerants Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Natural Refrigerants Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Natural Refrigerants Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Natural Refrigerants Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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