Sample_Global Natural Refrigerant Market, Forecast and Opportunities, 2028_Report.pptx

Global Natural Refrigerants
Market
FORECAST AND OPPORTUNITIES
2018 – 2028F
M A R K E T I N T E L L I G E N C E . C O N S U L T I N G www.techsciresearch.com

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© TechSci Research
Table of Contents
Air Coolers
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S. No. Contents Page No.
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Natural Refrigerants Market
5. Impact of Russia-Ukraine War on Global Natural Refrigerants Market
6. Voice of Customer
6.1. Brand Awareness
6.2. Factors Affecting Purchase Decision
7. Global Natural Refrigerants Market Outlook, 2018-2028F
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2 Market Share & Forecast
7.2.1 By Type (Carbon Dioxide, Ammonia, Hydrocarbons, Others)
7.2.2. By Application (Industrial, Commercial, Domestic)
7.2.3. By Region (Europe, North America, Asia-Pacific, South America, Middle East & Africa)
7.2.4. By Company (2022)
7.3. Market Map (Type, Application, Region)
8. Europe Natural Refrigerants Market Outlook

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8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
8.2.3. By Country
8.3. Europe: Pricing Analysis
8.4. Europe: Country Analysis
8.4.1. Germany Natural Refrigerants Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value & Volume
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Type
8.4.1.2.2. By Application
8.4.2. Italy Natural Refrigerants Market Outlook
8.4.2.2.1. By Type

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8.4.3. France Natural Refrigerants Market Outlook
8.4.3.2.1. By Type
8.4.4. United Kingdom Natural Refrigerants Market Outlook
8.4.4.2.1. By Type
8.4.5. Spain Natural Refrigerants Market Outlook
8.4.5.2.1. By Type

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Table of Contents
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8.4.6. Russia Natural Refrigerants Market Outlook
8.4.6.2.1. By Type
9. North America Natural Refrigerants Market Outlook
9.2.1. By Type
9.2.3. By Country
9.3. North America: Pricing Analysis
9.4. North America: Country Analysis
9.4.1. United States Natural Refrigerants Market Outlook

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Table of Contents
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9.4.1.2.1. By Type
9.4.2. Canada Natural Refrigerants Market Outlook
9.4.2.2.1. By Type
9.4.3. Mexico Natural Refrigerants Market Outlook
9.4.3.2.1. By Type
10. Asia Pacific Natural Refrigerants Market Outlook

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Table of Contents
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10.2.1. By Type
10.2.3. By Country
10.3. Asia Pacific: Pricing Analysis
10.4. Asia Pacific: Country Analysis
10.4.1. China Natural Refrigerants Market Outlook
10.4.1.2.1. By Type
10.4.2. Japan Natural Refrigerants Market Outlook
10.4.2.2.1. By Type

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Table of Contents
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10.4.3. Australia Natural Refrigerants Market Outlook
10.4.3.2.1. By Type
10.4.4. South Korea Natural Refrigerants Market Outlook
10.4.4.2.1. By Type
10.4.5. India Natural Refrigerants Market Outlook
10.4.5.2.1. By Type
10.4.6. Vietnam Natural Refrigerants Market Outlook
10.4.6.2.1. By Type

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Table of Contents
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11. South America Natural Refrigerants Market Outlook
11.2.1. By Type
11.2.3. By Country
11.3. South America : Pricing Analysis
11.4. South America : Country Analysis
11.4.1. Brazil Natural Refrigerants Market Outlook
11.4.2.1.1. By Type
11.4.2. Argentina Natural Refrigerants Market Outlook

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11.4.2.2.1. By Type
11.4.3. Colombia Natural Refrigerants Market Outlook
11.4.3.2.1. By Type
12. Middle East & Africa Natural Refrigerants Market Outlook
12.2.1. By Type
12.2.3. By Country
12.3. Middle East & Africa : Pricing Analysis
12.4. Middle East & Africa : Country Analysis

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Table of Contents
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12.4.1. South Africa Natural Refrigerants Market Outlook
12.4.1.2.1. By Type
12.4.2. Saudi Arabia Natural Refrigerants Market Outlook
12.4.2.2.1. By Type
12.4.3. UAE Natural Refrigerants Market Outlook
12.4.3.2.1. By Type

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Table of Contents
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13. Market Dynamics
13.1 Drivers
13.2 Challenges
14. Market Trends and Developments
15. Global Natural Refrigerants Market: SWOT Analysis
16. Porter’s Five Forces Analysis
17. Competitive Landscape
17.1. Emerson Electric Co
17.2. Linde Plc
17.3. Air Gas, Inc.
17.4. Evonik Industries AG
17.5. Secop Group Holding GmbH
17.6. Natural Refrigerants Company
17.7. HyChill Australia Pty Ltd
17.8. Tazzetti SPA
17.9. A-Gas International Ltd.
17.10. Puyang Zhongwel Fine Chemical Co. Ltd.

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Table of Contents
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18. Strategic Recommendations
19. About Us and Disclaimer

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© TechSci Research
Scope of Report
Product of Interest (POI): Natural Refrigerants
Review Period
2018 – 2021
Base Year
2022
Estimated Year
2023
Forecast Period
2024 – 2028
Year Range
Natural refrigerants are substances that are found in nature, such as water, air, and hydrocarbons. These
substances are non-toxic, non-flammable, and have a low global warming potential. Natural refrigerants are
promising alternative to synthetic refrigerants, as they are much more eco-friendly and present less risks to
the environment. Natural refrigerants have zero ozone depletion potential (ODP) and very low or zero global
warming potential (GWP). They are also much more efficient than synthetic Refrigerants and can be used in a
variety of applications. Some of the commonly used refrigerants include carbon dioxide, propane, isobutane,
propylene, ammonia.
Market Segmentation
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By Region
• North America
• Asia Pacific
• Europe
• Middle East & Africa
• South America
By Type
• Industrial
• Commercial
• Domestic
• Others
By Application
• Carbon Dioxide
• Ammonia
• Hydrocarbon
• Others

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Product Overview
• Natural refrigeration is a process of natural glaciation that occurs in the ecosystem without human’s arbitration. Natural
refrigerants such as air (Carbon dioxide), hydrocarbons (propane, butane, and cyclopentane), ammonia, and water are non-
synthetic, naturally occurring materials that can be employed as cooling agents in air conditioners and freezers
• Natural refrigerants are becoming increasingly popular as an alternative to synthetic refrigerants, which have been found to
contribute to global warming and deplete the ozone layer. Natural refrigerants, as the name suggests, are refrigerants that occur
naturally in the environment and are therefore more sustainable and eco-friendlier than synthetic refrigerants.
• Natural refrigerants can be divided into three categories: carbon dioxide (CO2), ammonia, and hydrocarbons. CO2 is very pertinent
as a natural Refrigerants due to its relatively low viscosity, negligible pressure effects and relatively high heat transfer coefficients.
Very low pumping power is required when CO2 is used as a secondary fluid. CO2 also enhances the possibility of operation in cold
climates with very low condensing pressure in the winter.
• Ammonia is regarded as a paramount natural Refrigerants. It is widely employed in dairy and beverage production facilities, food
processing facilities, breweries, and cold storage facilities due to its magnificent properties. Furthermore, due to its superior
thermodynamic qualities, refrigeration technology offers very cheap operating costs. It is both a remarkably efficient and
environment friendly Refrigerants. It is readily available at a reasonable cost, due to its mass usage in fertilizers and can be quickly
identified simply by scent or by several electrochemical and electrical sensors. Hydrocarbons are non-toxic natural refrigerants.
Due to their very minimal contribution to global warming and ozone depletion they are widely used as a constituent of oil and
natural gas. Hydrocarbon refrigerants offer a variety of boiling points that can be used for everything from air conditioning to
cryogenics.
• They occur naturally in the environment; they can be replenished over time. Synthetic refrigerants, on the other hand, are created
through a chemical process and are not renewable. Another benefit of natural Refrigerants is that they are not harmful to the
ozone layer. Synthetic refrigerants, such as chlorofluorocarbons (CFCs), have been found to be major contributors to the depletion
of the ozone layer, which protects the earth from harmful UV rays. Natural refrigerants do not contain the chemicals that cause
ozone depletion, and are sustainable.
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Product Overview
• Additionally, natural refrigerants have a much lower global warming potential than synthetic refrigerants. This means that they
have a much lower impact on the environment and contribute less to global warming. In addition, natural refrigerants are more
energy-efficient than synthetic Refrigerants, which means that they require less energy to cool the same amount of space.
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Refrigerant
s
ASHRAE
Number
Molecular
Formula
Safety
Group
GWP ODP Critical
Temperature
(°C)
Critical
Pressure
(bar)
Normal
Boiling
Temperature
(°C)
Carbon
Dioxide
R-744 CO2 A1 1 0 31.2 73.8 -79
Propane R-290 C3H8 A3 3.3 0 96.7 42.6 -42
Isobutane R-600a C4H10 A3 4 0 135 36.5 -11.7
Propylene R-1270 C3H6 A3 1.8 0 92.4 46.3 -48
Ammonia R-717 NH3 B2L 0 0 132.4 112.8 -33
Characteristics of Commonly Used Refrigerants
Source: CAREL INDUSTRIES S.p.A., TechSci Research
• Natural refrigerants have a wide range of applications such as domestic, commercial, and industrial. The rise in global
temperature has caused an increased need for energy efficient cooling systems. Natural refrigerants are emerging as an
attractive alternative to traditional refrigerants, such as chlorofluorocarbons (CFCs). Natural refrigerants, such as carbon dioxide
(CO2), ammonia, and hydrocarbon-based refrigerants, offer great potential for increasing energy efficiency in air conditioning
and refrigeration systems. Natural refrigerants are increasingly being used in air conditioning systems due to their superior
energy efficiency and low global warming potential. In addition, they offer improved comfort and safety compared to traditional
Refrigerants. Natural refrigerants are able to cool air more efficiently than traditional refrigerants, reducing the amount of
energy needed to cool a given space. This results in reduced energy bills and a lower environmental impact.

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Research Methodology
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
Data
Collection
Developing list
of respondents
Formulating
Questionnaire
Market
Profiling
Data
Validation
Data
Analysis
In-depth secondary
research was conducted to
determine the overall
market size, segmental
market size, and top
companies in the Global
Natural Refrigerants
Market.
In order to conduct
industry experts’
interviews, TechSci
formulated a detailed
discussion guide.
List of leading
companies and
industry specialists
was developed.
TechSci conducted
interviews with
industry experts and
top companies for data
collection and
verification.
Data obtained as a
result of primary
and secondary
research was
validated through
rigorous
triangulation.
The data was scrutinized
using MS-Excel, statistical
tools and internal
proprietary database to
obtain qualitative and
quantitative insights about
the Global Natural
Refrigerants Market.
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
Primary Research Desk Research Company Analysis
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Conclusion
 Market Participants
 Key Strengths
 LinkedIn
 TechSci Internal
Database
 Factiva
 Hoovers
 EMIS
Paid Sources
 Company Websites
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body
 Associations, etc.
Secondary
Research
Primary Research
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Baseline Methodology
Our dedicated team of industry experts has monitored and analyzed various aspects of the Global Natural Refrigerants Market. The
team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as,
government regulations and policies aimed at reducing greenhouse gas emissions, need for energy-efficient solutions, and others.
The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve
sustainability in the Global Natural Refrigerants Market.
Methodology Followed for Calculation of Market Size:
• Market Size by Value & Volume : Market size, in terms of value and volume, for the year 2022 was calculated based on
information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders,
such as Natural Refrigerants manufacturer/supplier companies, research scientists, end users, industry experts, and other industry
participants.
• The team interviewed more than 10 Natural Refrigerants companies, 100 end users, 10 industry experts, and other value chain
stakeholders in the global natural refrigerants market to obtain the overall market size between 2018 and 2022, which was
validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the
market size data during 2018-2022. Respondents were asked about the current and future market growth rates, market shares by
type, by application, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and
category-wise revenue shares generated across various segments were considered to arrive at the final revenue shares.
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Revenue shares generated across various segments were further triangulated based on the response received from other
stakeholders.
Methodology Followed For Calculation of Market Shares:
• Market shares by type, by application, by region, and by company were calculated based on the responses received through
primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated
from various segments of the Global Natural Refrigerants Market. The final shares were calculated by taking the geometric mean
of the responses gathered from key opinion leaders after eliminating the outliers.
Methodology Followed for Forecasting:
• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey
results in SPSS/Tableau software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful
picture of the market. To forecast the Global Natural Refrigerants Market, TechSci Research used various forecast techniques
such as:
 Moving Average
 Time Series Analysis
 Regression Analysis
 Econometric and Judgmental Analysis
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• Note: Sum of some market shares may not be 100% due to round off till two decimal places.

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TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci
Research also used the impact analysis during short, medium, and long-term period to estimate the demand and to reach accurate
market numbers. The currency used in the report is the United States Dollar (with the market size indicated in USD million).
Partial List of Companies Interviewed Key Secondary Sources
 Emerson Electric Co
 Linde Plc
 Air Gas Inc.
 Evonik Industries AG
 Secop Group Holding GmbH
 Natural Refrigerants Company
 HyChill Australia Pty Ltd
 Tazzetti SPA
 A-Gas International Ltd
 Puyang Zhongwei Fine Chemical Co. Ltd.
 Worldometer
 World Bank
 TechSci Research Proprietary Database &
Knowledge Repository
 Company Annual Reports
 Industry Magazines
 Industry Reports
 Credible Paid Databases
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© TechSci Research
Industry Brief
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Global Natural Refrigerants Market is expected to grow in the forecast period 2024-2028 due to growing awareness towards global warming and ozone
layer depletion.
According to TechSci Research report, “Natural Refrigerants Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”, Global Natural Refrigerants Market Size is USD 1,366.04 million in 2022 and is anticipated to increase at a
CAGR of 3.05% in the forecast period. A significant factor fueling the growth of Global Natural Refrigerants Market is the growing
awareness towards global warming and ozone depletion. Synthetic refrigerants has strong potential to cause global warming and
ozone depletion due to emission of hazardous gases, so to overcome this issue natural refrigerants are used instead of synthetic
refrigerants as they have very low or no global warming potential (GWP) and zero ozone depletion potential (ODP). Hence, these
factors increase the demand of natural refrigerants leading to the growth of market in the forecast period.
Furthermore, the market is being further stimulated by adoption of strict environmental regulations and high potential of natural
refrigerants.
However, limited availability and high cost can slow down the market growth. Also, flammability & toxicity issues can further
slowdown the market growth.
Based on type, the market is categorized into carbon dioxide, ammonia, hydrocarbons, and others. Carbon Dioxide is expected to
hold the largest market share in the forecast period with 42.62% in 2023. This is due to high heat exchange, low pumping power, and
Global Warming Potential (GWP) of 1, and zero Ozone Depletion Potential (ODP).
Based on application, the market is segmented into industrial, commercial, and domestic. Industrial is expected to hold the largest
market share in the forecast period with 55.78% in 2023. This is due to increasing demand of freezing and chilling process in various
industries to maintain their product quality during the storage.
Major companies operating in the Global Natural Refrigerants market are Emerson Electric Co, Linde Plc, Air Gas Inc., Evonik
Industries AG, Secop Group Holding GmbH, Natural Refrigerants Company, HyChill Australia Pty Ltd, Tazzetti SPA, A-Gas
International Ltd, Puyang Zhongwei Fine Chemical Co. Ltd.
“Europe region is expected to grow at the highest rate during the forecast period due to strict government rules regarding the use of
synthetic refrigerants such as hydrofluorocarbon (HFC) and hydrochlorofluorocarbons (HCFC) refrigerants. Additionally, rise in the
commercial industry and a thriving automotive industry creates lucrative opportunities for market growth. Furthermore, in North
America, complete ban on production and import of HCFs by U.S. Environmental Protection Agency increasing the demand of natural
refrigerants create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.

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© TechSci Research
Sample Data - Snapshot
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2018 2019 2020 2021 2022 2023E 2024F 2025F 2026F 2027F 2028F
Value (USD Million)
Global Natural Refrigerants Market Size, By Value (USD Million), 2018-2028F
CAGR 2018-2022
By Value: XX%
CAGR 2023E-2028F
By Value: XX%
2018 2019 2020 2021 2022 2023E 2024F 2025F 2026F 2027F 2028F
Germany 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
Italy 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
France 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%
United Kingdom 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Spain 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Russia 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Rest of Europe 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Europe Natural Refrigerants Market Share, By Country, By Value, 2018-2028F
Spain Natural Refrigerants Market Share, By Application, By Value, 2018-2028F
2018 2019 2020 2021 2022 2023E 2024F 2025F 2026F 2027F 2028F
Industrial 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00%
Commercial 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00% 33.00%
Domestic 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00% 34.00%

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© TechSci Research
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FORECAST AND OPPORTUNITIES
2018 – 2028F
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About Us &
Disclaimer
TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research
reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation
models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of
Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,
accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it
considers reliable and firsthand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible
for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the
subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this
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