Natural
refrigerants are synthesized through a biochemical processusing
natural resources. Growing concern regarding global warming and other
environmental issueshas increased the need for natural refrigerants.
Natural refrigerants such as ammonia, carbon dioxide, and
hydrocarbons are processed from natural resources and are more
eco-friendly as compared to conventional refrigerants.On the basis of
application, the natural refrigerants market can be segmented into
industrial refrigeration, commercial refrigeration, domestic
refrigeration, stationary air conditioning refrigerants, and mobile
air conditioning refrigerants.The global natural refrigerants market
can be bifurcated on the basis of type of product such as ammonia,
carbon dioxide, and hydrocarbons.
In-depth
research report on Natural Refrigerants Market with
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On
a global scale, natural refrigerants are largely consumed for
refrigeration and airconditioning purpose.Currently, natural
refrigerants available in the market include ammonia, carbon dioxide,
and hydrocarbons. Among hydrocarbons, the commonly used refrigerants
include iso-butane, propane, and propylene. Natural refrigerants are
chieflyemployed in industrial, commercial, and domestic refrigeration
systems. Apart from these, natural refrigerants are consumed in
mobile air conditioning and stationary air conditioning. In
industrial applications, ammonia holds major share among other
natural refrigerants due to its higher coefficient of performance
(CoP), zero ozone depletion potential (ODP), lower cost,and leakage
rate. Major factor restricting growth of the natural refrigerants
market is the initial high cost of installation of refrigeration
systems.Other challenges faced by HVAC contractors are toxicity and
flammability limits that occurdue to use of highly concentrated
ammonia in smaller refrigeration systems.
Carbon
dioxide is expected to hold the largest share of the global natural
refrigerants market in commercial applications due to ease of
handling. Recently, companies have started using ammonia along with
carbon dioxide as a refrigerant in industrial applications due to its
high performance. Natural refrigerants have low operating cost and
are more effective than conventional refrigerants. HVAC manufacturers
can focus more on employing these natural refrigerants for improving
output performance of the system.
Natural
refrigerants are widely used in industrial refrigeration systems for
condensing, cooling, and storage of reactive chemicals. In commercial
application, natural refrigerants are used insupermarkets and
high-end retail outlets for refrigeration of food and beverages,
household refrigerators, and other portable cold storage systems.
Furthermore, natural refrigerants are employed in domestic split air
conditioners and air conditioners in vehicles.
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Growth
in the commercial sector and flourishing automotive industry is
driving growth of the natural refrigerants market in Europe and North
America. Improved standards of living and high disposable income in
Asia Pacific are primarily fueling growth of the natural refrigerants
market. The hospitality industry is flourishing in the Middle East.
This, in turn, is anticipated to boost demand for air conditioners
and refrigerating systems.
Some
of the Key players in the global natural refrigerants market
includeAirgas, Inc.,The Linde Group, A-Gas International, Hess
Corporation, Sinochem, General Utilities, Puyang Zhongwei Fine
Chemical Co.Ltd., HyChill, Engas Australasia, TazzettiS.p.A.,
Deepfreeze Refrigerants Inc., and ShangdongYueon Chemical Co., Ltd.
Global companies are investing more in R&D activities to develop
new substitutes for conventional refrigerants.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This
report is a complete study of current trends in the market, industry
growth drivers, and restraints. It provides market projections for
the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players
and new entrants along with detailed value chain analysis.
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