HFC Refrigerants Market: high demand in Industries for refrigerants across the globe through 2020
Refrigerants are generally in the fluid form and are used in a heat pump or refrigeration process. They primarily are of three types: Chlorofluorocarbons (CFC), Hydro-chloro-fluorocarbons (HCFC), and Hydro-fluorocarbons (HFC). All these types are believed to be hazardous to environment. HFCs are third generation of CFCs which do not deplete ozone layer, but are potentially greenhouse gases. There is high use of HFC refrigerants in Industries in the HFC Refrigerants Market through 2020.
Scope and Regional forecast of the HFC Refrigerants Market:
In the HFC Refrigerants Market, increasing demand for cooling products in emerging economies is a key driver for market growth. The growing adoption of HFCs in this region will also drive the innovations in the industry. However, rising environmental concerns and increasing price of raw materials is expected to restrain growth in both developed and developing economies as per the IndustryARC market intelligence report.
In North America, commercial sector accounts for major share in the HFC Refrigerants Market in 2015 due to the extensive use of refrigeration in vending machines, supermarkets and others. The Mobile AC application also witnessed high demand and accounted for 30% in the market for 2015. Some of the common refrigerants used are R134A, R410A, R22 gas, refrigerant R22, refrigerant 134A, R407C, HFC 134A etc.
The Domestic application share is projected to increase in emerging economies in Asia Pacific as the demand for cooling products is expected to rise through 2020. In the HFC Refrigerants Market, the natural refrigerants would likely replace the HFCs in both these applications owing to the escalating demand for eco-friendly products.
Segmentation and key players in the HFC Refrigerants Market:
The HFC Refrigerants Market is segmented into various categories in the IndustryARC marketing research analysis report by sector and by geography.
By sector: domestic, commercial, transport, industrial, stationary AC and mobile AC
By geography: North America, South America, Europe, Asia Pacific and ROW
According to the IndustryARC market analysis studies, the key players in the HFC Refrigerants Market are as follows:
- Daikin Industries Ltd.
- I. du Pont de Nemours
- Honeywell International Inc.
- Solvay S.A.
- Puyang Zhongwei Fine Chemical Co. Ltd.
The HFC Refrigerants Market is a stable market with many applications of HFC refrigerant gases in many sectors across the globe. This market is expected to witness good growth owing to the rise of use of cooling systems and refrigerant materials in industries in various countries through 2020.
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