The global HFC refrigerant market is anticipated to exhibit a CAGR of 3.7% during the forecast period (2021-2027). The growing urbanization in the developing economies across the globe is creating higher demand for consumer products across the globe. According to the report of the United Nations, in May 2018, 55.0% of the world’s population lived in urban areas which are expected to reach 68.0% by 2050 that will account for more than 6 billion people. The increase in urbanization will lead to an increase in the need for better infrastructure requirements which will eventually lead to a rise in demand for better air conditioning services.
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HFCs offers several benefits as a refrigerant; as it contributes less to depleting of the ozone layer as it does not contain chlorine and does not deplete the stratosphere layer of the ozone layer. It is also used for replacements for older CFCs and HCFCs that are more hazardous to the environment. In addition to this, the rise in cold chain market and growing food retail chains globally due to the economic expansion of middle-class income groups in countries such as China and India. However, the growing market for natural refrigerants and HFO refrigerants owing to their offered advantages is likely to make a negative impact on the growth of the HFC refrigerant market.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Types
o By Application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape-Linde AG, Arkema Group, Daikin Industries, Ltd., Honeywell International Inc., The Chemours Company, LLC
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global HFC Refrigerant Market Report Segment
By Types
- HFC-134a
- HFC-125
- HFC-143a
- HFC-32
- HFC-152a
- Others
By Applications
- Air Conditioners
- Automotive Air Conditioners
- Refrigerators
- Others
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