Refrigerant Grade Propane Market
Market Size, Share Global Outlook and Forecast 2025-2031
MARKET VALUE & GROWTH PROJECTIONS
Projected Value in 2032 : USD 174.45 million Market Value in 2023 : USD 113 million 01 02 03 CAGR 6.40%
KEY MARKET DRIVERS
Environmental Regulations
Low
GWP and ODP
Cost-Effectiveness
By Type By Application
MARKET SEGMENTATION By
Region
• 4N
• 5N
• 5N Above
• Refrigerators
• Freezers
• Air Conditioning
• Others
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
REGIONAL MARKET ANALYSIS
North America
The North American market, valued at USD 29.44 million in 2023, is expected to grow at a CAGR of 5.49%. The U.S. is leading this growth due to strict environmental regulations and the widespread adoption of sustainable refrigerants inbothresidentialandcommercialsectors.
Europe
Europe is a significant market for Refrigerant Grade Propane due to aggressive emission reduction goals and the increasing preference for green refrigeration solutions. The European Union's focus on phasing out high-GWP refrigerants is expected to drive substantial demandfornaturalrefrigerants.
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