The global hydrochlorofluorocarbon (HCFC) refrigerant market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are rising demand for these refrigerants from various end-use industries and surging demand for consumer goods such as air conditioners refrigerators.
A hydrochlorofluorocarbon (HCFC) refrigerant is a blend that contains both an HFC and an HCFC. Hydrochlorofluorocarbons (HCFCs) are a class of molecules that are energy-efficient, low in-toxicity, and cost-efficient. These are safely used in a wide variety of applications. The two most important applications are in refrigeration and air-conditioning. Hydrochlorofluorocarbon (HCFC) can be used as a single substance or in mixtures. Hydrochlorofluorocarbon (HCFC) refrigerants are a class of chemicals with at least one hydrogen particle that has a structure similar to that of chlorofluorocarbons (CFCs). These are gases or liquids that evaporate quickly under normal conditions, and are stable exist in an inert state. But hydrochlorofluorocarbon (HCFC) depletes the ozone layer and contributes to climate change. Thus, demand for alternatives of hydrochlorofluorocarbon (HCFC) refrigerant is increasing at a fast pace as several government bodies are banning its usage in many countries globally. As per the Montreal protocol, the complete phase-out of HCFC refrigerant is expected by 2030.
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Top Players in the Global Hydrochlorofluorocarbon (HCFC) Refrigerant Market:
- Zhejiang Juhua
- Daikin
- Navin Fluorine International (NFIL)
- Gujarat Fluorochemicals (GFL)
- Arkema
- Sanmeishem
- Bluestar Green Technology
- Shandong Yue\'an Chemical
- Chemours
- Zhejiang Weihua Chemical
- Arkema SA
- GFL
- Dongyue Group
- Sanmei
- Meilan Chemical
- SRF Limited
- Limin Chemical
Revenue growth of the global hydrochlorofluorocarbon (HCFC) refrigerant market is significantly driven by high demand for consumer goods such as air conditioners and refrigerators. Also, increasing population, rising living standards, and surging per capita income would lead to an increasing demand for hydrochlorofluorocarbon (HCFC) refrigerant from end-use industries over the forecast period.
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Market segmentation based on Refrigerant Type Outlook:
- R-22
- R-123
- R-124
- R-142b
- Others
Application Outlook:
- Refrigeration
- Air-conditioning
End-use Outlook:
- Commercial
- Domestic
- Transportation
- Industrial
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Hydrochlorofluorocarbon (HCFC) Refrigerant market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Hydrochlorofluorocarbon (HCFC) Refrigerant market?
- Which regional market is expected to lead in terms of revenue share in the global Hydrochlorofluorocarbon (HCFC) Refrigerant market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter's Five Forces analysis of the market?
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