Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Natural Refrigerants Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the Natural Refrigerants Industry in 2024 and 2025?
The market size of natural refrigerants has experienced significant expansion recently. The market increased from $1.52 billion in 2024 to $1.63 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%.
What Is the Projected Market Size of the Natural Refrigerants Market in 2029?
The Natural Refrigerants market is projected to grow to $2.24 billion by 2029, expanding at a compound annual growth rate (CAGR) of 8.3%.
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What Are the Key Drivers of Natural Refrigerants Market Growth?
The key Drivers in the natural refrigerants market are:
• Rising preference for environment-friendly refrigerants
• Adoption of natural refrigerants due to their sustainable and future-proof qualities
• The reduction in energy usage and maintenance costs with the use of natural refrigerants
• Increase in the global implementation of natural refrigerants in cooling systems
What Are the Primary Segmentation Categories in the Natural Refrigerants Market?
The natural refrigerantsmarket covered in this report is segmented –
1) By Type: Ammonia (R-717), Carbon Dioxide (R-744), Hydrocarbons, Other Types
2) By Application: Refrigerators, Air Conditioning Systems, Other Applications
3) By End-Use Industry: Industrial, Commercial, Domestic
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What Are the Major Trends Shaping the Natural Refrigerants Market in 2025 and Beyond?
The key trends in the natural refrigerants market are:
• The trend of product innovation is gaining traction in the natural refrigerant market.
• Companies are focusing on creating innovative products to ensure their market presence.
• Natural refrigerant manufacturers are adopting strategies like product labeling to expand towards new customers and markets.
• This labeling is also helping end customers identify premium service providers.
Who Are the Emerging Players in the Natural Refrigerants Market?
The key players in the natural refrigerants market are:
• Sinochem Corporation
• Linde Plc
• Air Liquide
• Emerson Electric Co.
• Evonik Industries AG
• Airgas Inc.
• Alfa Laval AB
• TEKO
• Carel Industries S.P.A
• True Manufacturing Co. Inc.
• Secop Group Holding GmbH
• A-Gas international
• Güntner GmbH & Co KG
• Casale SA
• Tazzetti SpA
• Westermeyer Industries
• Puyang Zhongwei Fine Chemical Co. Ltd.
• HyChill Australia Pty Ltd.
• Natural Refrigerants Company
• Shandong Shing Chemical Co Ltd.
• M&M Carnot
• Engas Industries Pty. Ltd.
• A.S. Trust and Holdings
• Nel Hydrogen
• GTS S.p.A.
• Harp International Ltd.
Which Regions Are Leading the Growth in the Global Natural Refrigerants Market?
Europe was the largest region in the natural refrigerants market in 2024
