Low GWP Refrigerants Market Share, Size, Revenue, Growth Factors, Analysis, Trends and Segment Outlook till 2029

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Low GWP Refrigerants Market by Type (Inorganics, Hydrocarbons, Fluorocarbons), Application (Commercial Refrigeration, Industrial Refrigeration, Domestic Refrigeration), And Region, Global Trends And Forecast From 2022 To 2029

The Low GWP Refrigerants Market is expected to grow at 10.9 % CAGR from 2022 to 2029. It is expected to reach above USD 50.04 billion by 2029 from USD 20.67 billion in 2020.

Low GWP (Global Warming Potential) refrigerants are those that, when compared to conventional high GWP refrigerants, have a much smaller negative environmental impact. To compare the effects of various greenhouse gases, the global warming potential (GWP) is a measurement of how much heat a greenhouse gas retains in the atmosphere. Traditional refrigerants with high GWP values and strong warming potential include hydrofluorocarbons (HFCs) and chlorofluorocarbons (CFCs).

The low GWP refrigerants market is segmented based on type, application and region.
By type the market is bifurcated into Inorganics, Hydrocarbons, Fluorocarbons.
In terms of type hydrocarbon type segment expected to hold the largest share and to grow at the highest CAGR due to the increasing demand from the industrial refrigeration sector. thermodynamic qualities are found in hydrocarbon refrigerants, which are also used in extremely energy-efficient refrigeration and air-conditioning systems. Hydrocarbon refrigerants have a rather high critical temperature and are miscible with traditional refrigerating oils.

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