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Natural refrigerants market to see phenomenal growth

The global natural refrigerants market is expected to reach an estimated valuation of USD 3.06 billion by 2027, while registering this growth at a rate of 11.6 percent for the forecast period of 2020 to 2027. Technological advancement in natural refrigerants for better performance is expected to create new opportunity for the market, according to a report by Market Research Intellect. These natural refrigerants are more eco-friendly as compared to traditional refrigerants, which is expected to enhance the market growth. Some of the other factors like growth in commercial sector and automotive industry, less environmental impact, growing demand for air conditioning and refrigeration application, and high disposable income are expected to drive the natural refrigerants market. The world is not just battling a health pandemic, but additionally a financial one too, as COVID-19 throws its long shadow over economies around the world. The total lockdown circumstance in a few nations has legitimately, or by implication, affected numerous ventures, causing a move in exercises like inventory network tasks, seller activities, item commercialization, and so on. Europe is expected to dominate the natural refrigerants market. This is owing to increasing emissions regulations and increasing environmental concern among population, which is expected to enhance the market growth in the region.

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