Natural Refrigerants Market Worth $1.4 Billion by 2020
Europe is the largest market for natural refrigerants
PUNE, India — The global natural refrigerants market is forecast to reach $1.4 billion by 2020, growing at a compound annual growth rate (CAGR) of 11.5 percent between 2015 and 2020, according to a report published by MarketsandMarkets.
Europe is the largest market for natural refrigerants followed by Asia-Pacific. Europe is also projected to witness the highest growth from 2015 and 2020. This growth is due to the enforcement of stringent environmental regulations that call for a ban on HCFC and HFC refrigerants and promote the application of natural refrigerants as alternatives.