HFC Refrigerants Market Analysis and Forecast (2015-2020) - IndustryARC

Refrigerants are generally in fluid form and are used in a heat pump or Refrigeration Process. They are mainly used as a cooling medium in the air-conditioning and Refrigeration Industry.

Three basic types of Refrigerants: Chlorofluorocarbons (CFC), Hydro-chloro-fluorocarbons (HCFC), and Hydro-fluorocarbons (HFC). All these types are believed to be detrimental to environment. HFCs are third generation of CFCs which do not deplete ozone layer, but are potentially greenhouse gases and are largely used in commercial refrigeration applications.

The market has great growth potential. The refrigerant market is expected to grow at a compound annual growth rate of 5.2%, over the next five years and reach 1.6 million metric tons by 2018. Asia-Pacific, with its thriving economies and rapidly expanding manufacturing bases, is expected to experience highest consumption during the next five years.

Commercial sector accounts for major share in the market in 2014 due to the extensive use of refrigeration in vending machines, supermarkets, and similar others. The Mobile AC application also witnessed high demand and accounted for 30% in the market for 2014. However, in future, the natural refrigerants would likely replace the HFCs in both these applications owing to the escalating demand for eco-friendly products.

Rising demand for HFC R-134A in all vehicle systems have resulted in mobile AC being the most dominant market in air conditioning segment for total HFC consumption. Asia-Pacific region is the largest consumer of HFC refrigerant followed by North America, Rest of the World and Europe respectively. The growth in Asia-Pacific region is mainly attributed to increase in its demand for commercial refrigeration equipment as a result of investment in its retail sector. The North America region has emerged as an important market due to the increasing demand on the domestic front and increasing per capita industry consumption of refrigerant.

Notable Market Drives:

·         Phasing out of HCFC and CFC fluorocarbons is driving strong demand for HFC refrigerants.

·         Increasing demand for cooling products in emerging economies is a key driver.

·          The growing adoption of HFCs will also drive the innovations in the industry.

Some of the major companies in the global HFC Refrigerants Market are listed below.

•          Arkema S. A
•          Clariant AG
•          Daikin Industries Ltd.
•          Dongyue Group Ltd.

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Natural Refrigerants Likely to Replace HFC Refrigerants in Coming Future.

A Refrigerant is a substance or mixture, usually a fluid, used in heat pump and refrigeration cycle. In most cycles, it undergoes phase transitions from liquid to gas and then back again. Many working fluids have been used for such purposes. Fluorocarbons, especially chlorofluorocarbons, became commonplace in the 20th century, but they are being phased out because of their ozone depletion effects. Other common refrigerants used in various applications are ammonia, sulphur dioxide and non-halogenated hydrocarbons such as propane.

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Refrigerants are generally in 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 detrimental to environment. HFCs are third generation of CFCs which do not deplete ozone layer, but are potentially greenhouse gases and are largely used in commercial refrigeration applications.

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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.

Market Growth:

Commercial sector accounts for major share in the market in 2014 due to the extensive use of refrigeration in vending machines, supermarkets, and similar others. The Mobile AC application also witnessed high demand and accounted for 30% in the market for 2014. However, in future, the natural refrigerants would likely replace the HFCs in both these applications owing to the escalating demand for eco-friendly products. The Domestic application share is projected to increase in emerging economies as the demand for cooling products and spending power of the inhabitants grow.

Report Offerings:

We have used various secondary sources such as Companys Annual Reports, Organisational Websites and Databases to identify and collect information useful for this extensive commercial study of refrigerants. The primary sources - selected experts from related industries and selected suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of refrigerants.

To talk of segmentations, there is a compact classification in the HFC Refrigerant Market based on:

•          Sector: Domestic, Commercial, Transport and Others.
•          Geography: North America, APAC, Europe and RoW.

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Prominent Key Players:

We have also profiled leading players of this industry with their recent developments and other strategic industry activities. To mention a few included in the report:

•          Mexichem S.A.B DE C.V.
•          Puyang Zhongwei Fine Chemical Co. Ltd
•          Quimobasicos S.A DE C.V
•          Shandong Yuean Chemical Industry Co.
•          Sinochem Group
•          Solvay S.A.
•          SRF Ltd
•          Zhejiang Juhua Co. Ltd

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