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.
Avail
a Sample Market Brochure on “HFC Refrigerants Market”
CONTACT:
Sanjay Matthews
Sales Manager
#: +1-614-588-8538 (Ext:
101)
