Ammonia, hydrocarbons, carbon dioxide and other refrigerants belonging to the group of the so-called natural refrigerants are gaining ground globally, as more key players on this segment have been using them as an alternative to fluorocarbon refrigerants. In fact, the market for natural gases used in refrigeration is expected to grow 11% by 2020.
The global natural refrigerants market was valued at around USD 750.2 million in 2014 and is expected to reach USD 1,418.20 million in 2020, growing at a CAGR of around 11.0% between 2015 and 2020, according to a new report by Zion Research. Considering the global warming effects caused by fluorocarbon refrigerants, as well as the new EU legislation meant to discourage their usage, natural refrigerants are beginning to be adopted in various industries worldwide, especially in commercial refrigeration.
According to Zion researchers “Natural refrigerants are the best alternatives used for fluorocarbon refrigerants as they can be found both naturally as well as manufactured industrially. Growing awareness about global warming and other environmental issues created due to the synthetic refrigerants like fluorocarbon can be encouraged by the use of natural refrigerants such as ammonia, carbon dioxide, hydrocarbons.”
Ammonia Remains Most Popular
Ammonia was the largest product segment in 2014 and accounted for over 60% share of the total volume consumed. A regional breakdown from the Zion report shows that Europe is the dominant market con...