Green Refrigerants MarketChallenges and Opportunities

Green Refrigerants Market, By Product Type (Hydrocarbons, Ammonia, Carbon dioxide, Water, Low-GWP Refrigerants, and Hydrofluoroolefins (HFOs)), By Application (Domestic Refrigeration, Commercial Refrigeration, Industrial Refrigeration, Stationary Air Conditioning, Mobile Air Conditioning, and Transportation Refrigeration), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)

Published In : Apr 2023

Code : CMI3266

Pages :160

Formats :

Excel and PDF

Industry : Consumer Goods

Market Challenges And Opportunities

Global Green Refrigerants Market: Drivers

Phasing Out of HCFC (Hydrochlorofluorocarbons) and HFC (Hydrofluorocarbons) Refrigerants

Major initiatives aimed at developing new variants of natural refrigerants with better performance qualities and increased functionality is expected to drive the market growth. All these developments are a reaction to phasing out of HCFC (Hydrochlorofluorocarbons) and HFC (Hydrofluorocarbons) refrigerants, and this is expected to boost demand for green refrigerants.

Increasing Awareness Regarding Environmental Issues

Increasing consumer purchasing capacity and awareness regarding environmental issues caused by chemicals are expected to drive the market growth. Increasing demand for green refrigerants such as saturated and saturated hydrocarbons is expected to drive the market growth, owing to its advantages such as minimum ozone depletion potential and low global warming potential and other benefits combined with high investments for research and development by key market players.

Global Green Refrigerants Market: Restraints

High Cost of Installation and Waste of Energy

Refrigerants is a most important part of a day-to-day activity Increasing demand and initiatives by various non-profit organizations is expected to drive the market growth but factors like the high cost of installation and waste of energy combined with technical glitches is expected to hamper the market growth.