Hydrofluorocarbon Refrigerant Market, By Product Type (R-407C, R-410A, R-134A, Others), By Applicati

Published Date: | Report Code : CH1943029

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The Hydrofluorocarbon Refrigerant Market is expected to promise high growth owing to the growth of the automotive, food processing industry in the Asia Pacific.  Increasing demand from applications such as air conditioner, automotive air conditioner, refrigerator, cold storages, space shuttle, and others is expected to drive the growth of the market.

Refrigerants are commonly available in liquid or gaseous form. Mainly, they are used in refrigeration processes. Hydrofluorocarbons constitute hydrogen, carbon, and fluorine as the main elements. Hydrofluorocarbons are usually abbreviated as HFCs. Chlorofluorocarbons (CFC), Hydro-chloro-fluorocarbons (HCFC), and Hydro-fluorocarbons (HFC) are third generation of refrigerants.

Segment Insights

Hydrofluorocarbons are used in various industries. In the automotive industry, hydrofluorocarbons are used in air conditioners in vehicles. Depending on the air conditioning required, different kinds of coolants are used. Commercially, air conditioners are used in office spaces, especially in offices where there are computer systems involved to keep the temperature of electronic components below hazardous levels.

Hydrofluorocarbons are used in the food industry in cold storages. The food industry is largely dependent on refrigerants, as they help in preventing bacterial degeneration of food. They are used in the transportation of frozen meat, fish as well as vegetables over a large distance. In the aerospace industry, refrigerants are used in cryogenic engines used to propel shuttle into space.

Hydrofluorocarbons are degenerative in nature and have adverse effects on the ozone layer. They are the main contributors to greenhouse gases and hence, after the 1980 Global Environmental Conference of the UN, strict regulations have been imposed on the use of hydrofluorocarbons. The Asia Pacific region is witnessing a surge in demand for hydrofluorocarbon refrigerants due to the significant growth of the automotive industry. However, the hydrofluorocarbon refrigerant market in Western Europe is experiencing negative growth environmental issues.       

Key Factors Impacting Market Growth:

  • Growth of the automotive industry in Asia
  • Growth of food processing industry
  • Environmental degradation due to hydrofluorocarbons

Regional Analysis

On the basis of the region, the hydrofluorocarbon refrigerant market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe.  This region has been witnessing a number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regard to environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

 The Asia Pacific and the Middle East are expected to register substantial growth in the hydrofluorocarbon refrigerant market during the forecast period. This demand is with regard to the growth of major applications such as air conditioner, automotive air conditioner, refrigerator, cold storages, space shuttle, and others. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region.  Rest the World that includes South America and Africa has a strong potential for hydrofluorocarbon refrigerant market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the hydrofluorocarbon refrigerant market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered: Chemours, Arkema, Daikin, Mexichem, Honeywell, Linde, Zhejiang Juhua, Dongyue Group, Sanmei, Sinochem Group, and Meilan Chemical 

Market Segmentation:

By Product type:

  • R-407C
  • R-410A
  • R-134A
  • Others

By Application:

  • Air Conditioner
  • Automotive Air Conditioner
  • Refrigerator
  • Cold Storages
  • Space Shuttle
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Product Type
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Product Type
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Product Type
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Product Type
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Product Type
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Product Type
    • By Application

Reasons To Buy This Report:

  • Market size estimation of the global hydrofluorocarbon refrigerant market on regional and global basis
  • Unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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