“Surging refrigeration and air-conditioning applications across various field will crank up the HCFC refrigerant market”
According to OMR analysis, the global HCFC refrigerant market is expected to grow at a significant CAGR during the forecast period 2018-2023. The market is estimated to grow at a significant rate owing to increasing use of HCFC refrigerants in consumer products like air-conditioners and refrigerators globally. The global HCFC refrigerant market can be bifurcated into by refrigerant types which can be further segmented into R-22, R-124, and R-142B; by blend type which can be segmented into R-401A, R-401B, R-401C, and other blend types; by application which can be further segmented into refrigeration and air-conditioning applications and geography. The report provides detailed and insightful chapters which includes market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
Hydrochlorofluorocarbons (HCFC) are a group of compounds that are energy-efficient, low-in-toxicity, cost effective and can be used safely in various applications, refrigeration and air-conditioning being the two most important application. HCFC can be used either as single entity or in blends. Sectors in which HCFC can be used are Feedstock (used for the production of polytetrafluoroethylene (PTFE)), refrigeration, foams (extruded polystyrene foams, rigid foam applications in domestic refrigeration), solvents, fire extinguishing etc. R-22 is considered to be the major refrigerant that is primarily responsible for the HCFC refrigerants market growth. Growing demand for economically feasible refrigeration of various products is likely to escalate the global HCFC refrigerant market. However, stringent regulations, such as F-gas and Montreal Protocol, will hinder the market growth. Adhering to the Montreal Protocol, many companies have actively promoted their R&D for refrigeration alternatives. Besides this the industry is expected to have a particular opportunity of new advancements such as blends of the refrigerants etc. that will lead the market.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). APAC region serves the most of the demand and will remain lucrative throughout the forecast period owing to rapid urbanization and vast population in its several emerging economies such as China, India and South Korea. China is the largest producer of HCFC refrigerants especially R-22. North America and Europe region are expected to grow modestly. In North America, the US has seen a lateral shift from HCFC refrigerants-based refrigeration to CO2 based refrigeration systems resulting in withering market for HCFCs. According to UN Industrial Development Organization, some of the Latin American countries have also reduced the use of HCFC and other ozone depleting substances by 60%.
HCFC Refrigerant Industry is very competitive with some major key players like Arkema S.A., Bluestar Green Technology, Chemours, Daikin Industries Ltd., Dongyue Group, Honeywell International, Inc., SRF Ltd., Linde AG, Foam Supplies, Inc., Gujarat Fluorochemicals, Harp International Ltd., Navin Fluorine International, Scharr CPC GmbH and many more.
The report covers:
Comprehensive research methodology of Global HCFCs
This report also includes detailed and extensive market overview with key analyst insights.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global HCFCs
Insights about market determinants which are stimulating the Global HCFCs
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
About Orion Market Research
Orion Market Research (OMR) is an Indian research company known for its crisp and concise reports. The company is equipped with an experienced team and young brigade of analysts. The company provides quality syndicated research reports, customized research reports, Company profiling, consulting and other research-based services. OMR provide global and regional market reports of various domains such as healthcare, energy, IT, chemicals, and automobiles. OMR provide a 360-degree view of the market with parametric analysis, key market insights, key findings, statistical forecasts, competitive landscape, extensive segmentation, key trends, strategic recommendations and detailed company profiles.
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