Natural Refrigerants Market By Type (Hydrocarbon Refrigerant, Carbon Dioxide Refrigerant, Ammonia Refrigerant, and Others), and By End-Users (Industrial, Commercial, Domestic, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Natural Refrigerants Market accounted for US$ 1.5 billion in 2024 and is estimated to be US$ 5.3 billion by 2034 and is anticipated to register a CAGR of 15.1%.

Natural Refrigerants are the substance that occurs directly in nature. Natural Refrigerants are substance that serve as refrigerants in refrigeration systems which includes, air conditioning, HVAC, and refrigerators. Natural Refrigerants are alternative to synthetic refrigerants such as hydro-chlorofluorocarbon, chlorofluorocarbon, and hydro-fluorocarbon based refrigerants. Natural Refrigerants exist naturally in environment with zero ozone depletion potential & zero global warming potential. Natural Refrigerants are considered as definitive solution to environmental damage that are caused by synthetic refrigerants. Natural Refrigeration takes place due to cold spots and are eco-friendly. Natural Refrigerants includes, carbon dioxide, ammonia, hydrocarbons, air and water. Natural Refrigerants are extremely flammable and thus used in small equipment like freezers, refrigerators, and portable air conditioners. Natural Refrigerants are cost effective and inexpensive to produce. Ammonia (R7170) is climate friendly refrigerant and particularly efficient. Ammonia (R7170) has excellent thermodynamic properties and thus reflected in low operating cost for refrigeration technology. Ammonia (R7170) is consistently been used in food processing plants, dairy, beverage industries and also in breweries & cold stores. Ammonia (R7170) is also known as honest refrigerant because of its highly pungent odor. Ammonia (R7170) are lighter than air, and sustainable. Carbon dioxide (R744) is very cheap. Many industrial processes produce carbon dioxide as a by-product. Carbon dioxide (R744) is very cheap and suitable for compact air-conditioning systems, deep freeze air houses such as supermarket refrigeration. Carbon dioxide (R744) is also used in cascade systems for sub-zero temperature where ammonia systems forms first stage & CO2 systems forms second. Carbon dioxide (R744) are sustainable, very cost effective refrigerant, has high volumetric performance and are non-flammable. Hydrocarbons consist of carbon and hydrogen. Common representative of hydrocarbon group are refrigerants propane (R290) and isobutane (R600a). These refrigerants are inexpensive and are easy to obtain and easy to handle. They are used in factory filled systems.

Hundreds of millions of household refrigerators work with isobutane as a refrigerant. Hydrocarbons work in commercial refrigeration such as in refrigerated counters, ice machines, heat pumps and in air dehumidifiers. Hydrocarbon refrigerant are used in other applications like cooling, heating, air-conditioning systems where carbon-dioxide reach its limit because of its high outside temperatures. Hydrocarbon refrigerant are flammable and thus require higher safety. GWP (global warming potential) value indicates the contribution to global warming. GWP refers to value of carbon dioxide (GWP=1) as a benchmark. Natural Refrigerants has GWP value of 0 to 5.5. ODP (ozone depletion potential) value used for measuring effectiveness of chemical compound in degradation to ozone layer. Natural Refrigerants has ODP value of 0. However, rising environmental awareness and demand for natural refrigerants has given positive impact on target market growth.

Rising demand for natural refrigerants and increasing environmental awareness

Rising demand for natural refrigerants and increasing environmental awareness among individual is one of the leading factors for the Natural Refrigerants Market growth. Natural Refrigerants are not synthetic chemicals and thus occurs in nature’s biochemical process. Natural Refrigerants do not deplete the ozone layer and make zero contribution in global warming. Natural Refrigerants are sustainable, inexpensive and cost effective. For the better future and due to environmental awareness among individual Natural Refrigerants are in demand as they are eco-friendly in nature. Artificial refrigerants causes ozone layer depletion and escalates global warming. Natural Refrigerants are more sustainable and has zero ozone depletion potential. Natural Refrigerants perform better than artificial refrigerants in hot conditions. Natural Refrigerants helps in enabling the refrigeration units and air conditioner for operating more efficiently and thus, are more cost effective. Natural Refrigerants provides lots of benefits like – they help in reducing cost of heating and cooling by up to 38%. Hydrocarbon refrigerants are inexpensive, than synthetic refrigerants. Hydrocarbon refrigerants are more energy efficient and result in cutting cost by 17% to 38% on energy consumption and thus provides more saving opportunities in business. Hydrocarbon refrigerants help in reducing cost of repairing and maintenance on air-con & refrigeration units. Natural refrigerants help in extending life of refrigeration units and air-con because they are eco-friendly and works more efficiently. Natural refrigerants last for longer time compared to synthetic refrigerants. Natural refrigerants are better for environment because they have zero ozone depletion potential & negligible global warming potential. Artificial refrigerants are threat to environment due to their high ozone depletion potential and global warming potential. However, rising demand for natural refrigerants and increasing environmental awareness among individual has boosts the demand for Natural Refrigerants.

Restrains:

Natural refrigerant has some challenges and limitations like hydrocarbon refrigerants are extremely flammable and thus, additional safety requires like gas detectors, safety instructions for personnel. Carbon dioxide refrigerants operates at high pressure. Ammonia refrigerants are toxic. Ammonia alkalinity is extremely corrosive and components used in applications thus, requires careful consideration of material compatibility. However, some challenges and its toxicity has somewhat restrain the Natural Refrigerants Market growth.

The Natural Refrigerants market is segmented based on type, end-users and region.

On the basis of Type, the Natural Refrigerants market is segmented into Hydrocarbon Refrigerant, Carbon Dioxide Refrigerant, Ammonia Refrigerant, and others. On the basis of End-Users, the target market is segmented into Industrial, Commercial, Domestic, and others.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the Natural Refrigerants Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rapid growth in urbanization, rapid economic growth in automobile industries and consumer goods, increasing demand for refrigerants for domestic and industrial purpose, rising adoption of air conditioning system, increasing environmental awareness among individual, is anticipated to increase demand for Natural Refrigerants in the region.

Natural Refrigerants Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Natural Refrigerants Market report based on type, end-users, and region:

Natural Refrigerants Market, By Type:

• Hydrocarbon Refrigerant
• Carbon Dioxide Refrigerant
• Ammonia Refrigerant
• Others

Natural Refrigerants Market, By End-Users:

• Industrial
• Commercial
• Domestic
• Others

Natural Refrigerants Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating the Natural Refrigerants Market includes, Linde Group, Embraco LLC., Panasonic Corporation, Airgas Inc., Daikin Industries Ltd., TEKO GmbH, SWEP International AB, Mayekawa Nordic A/S, Secon GmbH, Secop GmbH, and others.

• In January 2022, Embraco has showcased the main product launch at AHR. Embraco launched multiple solutions for refrigeration at AHR show in Las Vegas from 31^st January to 2^nd February. Each product launch has brought innovation to fulfill the commercial refrigeration needs for food service and food retail segments. Newly developed Embraco’s new condensing units portfolio is the ‘Evaporative Drain Pan’ (EDP) lineup which is designed for reach-ins and under counters in food service segments. EDP is equipped with highly energy efficient, Embraco compressors a new line up has wide array of options in natural refrigerant (R290) – which are designed with all global warming potential regulations and include options by using variable speed compressors.
• In October 2022, Panasonic Corporation has released new product for homes by using natural refrigerant. The company has announced that its Heating & Ventilation A/C Company is expediting its growth strategy for A2W (air to water) heat pumps business in Europe.  The Company has planned to release three new eco-friendly models for homes with different heating capacities by using natural refrigerants in Europe in May 2023. In May 2023 Panasonic will become the first Japanese manufacturer for releasing three new home models of A2W by using R290 natural refrigerant with extremely low greenhouse effect.

• Embraco LLC.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Linde Group
• Panasonic Corporation*
• Airgas Inc.
• Daikin Industries Ltd.
• TEKO GmbH
• SWEP International AB
• Mayekawa Nordic A/S
• Secon GmbH
• Secop GmbH

 “*” marked represents similar segmentation in other categories in the respective section

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for medical carts Strategies
     • Key Questions this Study will Answer
     • Market Snippet, By Type
     • Market Snippet, By End-Users
     • Market Snippet, By Region
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restrains
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Market Segmentation, By Type
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Segment Trends
   • Hydrocarbon Refrigerant
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Carbon Dioxide Refrigerant
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Ammonia Refrigerant
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
6. Market Segmentation, By End-Users, 2024 – 2034, (US$ Bn)
   • Overview                                      
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Segment Trends
   • Industrial
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Commercial
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Domestic
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
   • Others
     • Overview
     • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
7. Global Market, By Region, 2024 – 2034, (US$ Bn)
   • Overview
     • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
     • Y-o-Y Growth Analysis (%), 2024 – 2034
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By End-Users, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By End-Users, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
       • UK
       • France
       • Germany
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By End-Users, 2024 – 2034
     • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
       • India
       • Japan
       • South Korea
       • China
       • Rest of Asia Pacific
         • Latin America
           • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
           • Market Size and Forecast (US$ Bn), By End-Users, 2024 – 2034
           • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
             • Brazil
             • Mexico
             • Rest of Latin America
             • Middle East & Africa
               • Market Size and Forecast (US$ Bn), By Type, 2024 – 2034
               • Market Size and Forecast (US$ Bn), By End-Users, 2024 – 2034
               • Market Size and Forecast (US$ Bn), By Country, 2024 – 2034
                 • GCC
                 • Israel
                 • South Africa
                 • Rest of Middle East
8. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
9. Company Profiles

• Linde Group
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Embraco LLC.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Panasonic Corporation
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Airgas Inc.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Daikin Industries Ltd.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• TEKO GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• SWEP International AB
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Mayekawa Nordic A/S
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Secon GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Secop GmbH
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

1. The Last Word
   • Future Impact
   • About Us
   • Contact