Green Refrigerants Market: Size, Growth, Regional Analysis, And Market Analysis

Green Refrigerants:

Green refrigerants have a lower potential for global warming and ozone depletion than synthetic refrigerants, which pose a significant threat to the ozone layer. The combined efforts of governments worldwide are helping to reduce the use of widely used synthetic refrigerants like chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs), which have resulted in ozone depletion and climatic changes owing to global warming.


Market Analysis:

By 2027, the Green Refrigerants Market is expected to reach USD 2.88 billion. Many organic and inorganic natural ingredients are generally favored due to lower deployment costs, extensive availability, high thermal conductivity, high gas-phase density, a considerable rate of heat transfer, and reduced adverse impacts. The Green Refrigerants Market is expected to be fueled by rising demand for natural refrigerants due to the harmful effects of hydrochlorofluorocarbon (HCFC) and hydrofluorocarbon (HFC) based refrigerants on the environment. 


Furthermore, many dangerous fluorocarbon-based refrigerants must be phased out due to restrictions and compliances imposed by governing authorities worldwide. Therefore, prioritizing natural refrigerants will result in a global direct emissions reduction of about 70% by 2030. With present technology, over 75 percent of the overall refrigeration and air-conditioning (RAC) sector can be switched to natural refrigerants, and the use of toxic refrigerants can be eliminated shortly. However, because natural refrigerants are still prohibited in many transportation refrigeration applications, the use of RAC in transportation has been a severe Issue.


Regional Analysis:

Europe has been an essential hub for natural refrigerant research and development in the heating, ventilation, air conditioning, and Green Refrigerants Market. The F-gas legislation, which the European Union introduced in 2015 to reduce emissions of fluorinated greenhouse gases caused by refrigerant leaks and the degradation of refrigeration and cooling appliances, was the main driving force behind this.


Key Players:

AGC Inc., Arkema SA, ASPEN Refrigerants Inc., Daikin Industries Ltd, Global Refrigerants, Harp International Ltd., Honeywell International Inc., The Linde Group, SRF Limited, Tazzetti S.p.A., and The Chemours Company are the major key players of Green Refrigerants Market


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