Natural Refrigerants Market: By Type (Ammonia, Carbon Dioxide, Hydrocarbon, Others), Application (Industrial, Commercial, Domestic, Stationary & Mobile, Others), and Geography  

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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.

Natural Refrigerants Market Segmentation

By Type
  • Ammonia
  • Carbon Dioxide
  • Hydrocarbon
  • Others
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

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
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) 
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) 
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) 
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) 
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) 
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) 
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) 
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) 
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.

Adjacent Markets