[b]Refrigerants[/b] 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.
[b]Avail a Sample Market Brochure on “HFC Refrigerants Market”[/b]
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.
The report includes Market Segmentation based on two factors:
• By Sector: Domestic, Commercial, Transport, 6Industrial, Stationary AC and Mobile AC.
• By Geography: North America, APAC, Europe and RoW.
[b]Notable Market Drives:[/b]
• 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.
[b]Key Market Players:[/b]
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.
[b]For Report Description, Table of Contents and Customization Options, Follow below link:[/b]
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights on the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to support the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
#: +1-614-588-8538 (Ext: 101)