Natural refrigerants are the alternatives for the environmentally harmful HCFC and HFC refrigerants. Natural refrigerants are called ‘natural’ as the chemicals are derived from the natural bio-chemical process itself. These refrigerants have very low impact on the environment in terms of ozone depletion and global warming.
The natural refrigerants market size is projected to be USD 1,419.19 Million by 2020 from USD 821.74 Million in 2015, at a CAGR of 11.5%. The market is projected to grow on account of the enforcement of stringent environmental regulations and due to the need to improve the energy efficiency of refrigeration systems.
Expansion in terms of production capacity and distribution network is the main area of focus for the players in the natural refrigerants market. Major initiatives are also aimed at developing new variants of natural refrigerants with better performance qualities and increased functionality. All these developments are a reaction to phasing out of HCFC and HFC refrigerants that in turn, is accelerating the demand for natural refrigerants.
This report includes estimates for the market size of the natural refrigerants in 2015 and provides projections for the market till 2020. The projections and forecasts involve the analysis of various past and present trends in the market that have a potential impact on the market’s future. It also includes a detailed qualitative and quantitative analysis of the natural refrigerants market on the basis of its types, applications, and regions. Various secondary sources, such as directories, annual reports, white papers, and databases have been used to identify and collect information that is useful for this extensive commercial study. The primary sources for the report included experts from related industries and suppliers who have been interviewed to obtain and verify critical information as well as to assess the future prospects of the market.
Competitive scenarios of the top players in the natural refrigerants market have been discussed in detail. The leading players of this industry with their recent developments and other strategic industry activities are profiled. These top companies The Linde Group (Germany), Airgas Inc. (U.S.), A-Gas international (U.K.), Puyang Zhongwei Fine Chemical Co. Ltd. (China), Sinochem (China), Engas Australasia (Australia), Tazzetti S.p.A (Italy), and Shangdong Yueon Chemical Co. Ltd. (China), among others.
Source: <a href="http://www.marketsandmarkets.com/Market-Reports/natural-refrigerant-market-165104142.html" target="_blank">MarketsandMarkets</a>