1. What is the projected Compound Annual Growth Rate (CAGR) of the U.S. Natural Refrigerants Market?
The projected CAGR is approximately 6.5%.
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U.S. Natural Refrigerants MarketU.S. Natural Refrigerants Market by Type (Hydrocarbons, Ammonia, Carbon Dioxide), by End-Use Industry (Industrial, Commercial, Domestic), by Forecast 2025-2033
The U.S. Natural Refrigerants Marketsize was valued at USD 259.8 USD Million in 2023 and is projected to reach USD 403.73 USD Million by 2032, exhibiting a CAGR of 6.5 % during the forecast period.Concerning refrigeration, the term natural refrigerants (NH3, CO2, HC) stands for substances that can be found in the nature and naturally occurring for us. What are natural refrigerants? Ammonia, carbon dioxide, hydrocarbons, water, and air. Natural refrigerants are secondary kinds of refrigerants used as a substitute for chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) in refrigeration and air conditioning applications. These refrigerants, unlike the chemical refrigerants which a number of them are widely used in the refrigeration systems; offer several values over the traditional ones. “Natural Refrigerants” are one of the leading categories in environmentally friendly refrigerant, some of these refrigerants are hydrocarbons, ammonia, carbon dioxide and water. These refrigerants combine to make the cooling system environment-friendly and sustainable. Waste of energy is considerably lower and less frequent maintenance costs in connection with natural refrigerants are one of the greatest economic advantages. Likewise, natural refrigerants cost a bit lower than their chemical analogues. The cause of the high demand for all natural refrigerants in US markets can be explained by some factors. First and foremost, in my opinion, the existing environmental challenges and the increased levels of awareness about them have a great impact. With an increase in industrial pollution in the USA as well as a higher level of the government imposed environmental regulations there is an appearance of those opportunities for the application of natural chemicals. These factors include, but are not limited to, the continuous effort towards raising the market demand for refrigerants used in industrial processes.
By Type:
By End-Use Industry:
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 6.5% from 2019-2033 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 6.5%.
Key companies in the market include Air Liquide USA (U.S.), Linde plc (Ireland), Airgas, Inc. (U.S.), AGC Inc. (Japan), Honeywell International Inc. (U.S.), Copeland LP (U.S.), Energy Recovery Inc. (U.S.), Evonik Industries AG (Germany).
The market segments include Type, End-Use Industry.
The market size is estimated to be USD 259.8 USD Million as of 2022.
Expanding Packaging Industry to Propel the Market Growth.
Rising Emphasis on Environmentally Sustainable Iron Production to Create New Growth Opportunities.
Toxicity and Challenges of Using Natural Refrigerants to Restrict Market Growth.
September 2020 - Linde plc launched a new line of hydrogen-based refrigeration systems for industrial and commercial applications. These systems used hydrogen, a natural refrigerant, and were designed to provide energy-efficient and environment-friendly cooling solutions.
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The market size is provided in terms of value, measured in USD Million and volume, measured in Kiloton.
Yes, the market keyword associated with the report is "U.S. Natural Refrigerants Market," which aids in identifying and referencing the specific market segment covered.
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