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Refrigerant Market – Hydro Chlorofluorocarbons (HCFC), Hydro fluorocarbon (HFC), Hydrocarbon (HC), Inorganic (Ammonia, Carbon dioxide) - Trends & Forecasts to 2018
The growth in consumer durable and automobile industry is driving the demand in refrigerant industry. Additionally, the major suppliers are responding towards the phase out of HCFCs by providing a wide range of alternative refrigerants and maintaining their supply globally. The primary application of refrigerants is in the manufacturing of refrigeration and air conditioning equipments. Some of its others, but significant, uses are in solvents, foam blowing agents, pharmaceuticals, food stuff, plastics, electronics etc.
The refrigerant market has great growth potential. The 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.
The growing demand for cooling equipment and high growth in
Asia-Pacific region is expected to remain the driving force for refrigerants demand in long run. However the frequent change in Montreal Protocol with respect to choice in refrigerant is restraining the market growth. The use of traditional refrigerant such as CFC and HFCF is causing greenhouse effects, so its use is being restricted. Hence, the demand for natural or green refrigerants is emerging in the refrigerant market.
This report studies and forecasts the refrigerant market till 2018. The market is further segmented and forecasted for major geographic regions such as: Americas,
Asia-Pacific, and Rest of the World that include key growth regions like
India. Major countries with the volumes and revenues are covered for each of the region. Market estimations have been provided in terms of consumption volume (metric ton) and market revenue (USD). The global as well as regional markets have been segmented by applications such as refrigeration (domestic, commercial, transportation, and industrial), and AC (stationary or air to air AC, chillers & hydronic heat humps and Mobile AC).
Market has also been segmented on the basis of product types where major product types such as fluorocarbons (HCFC and HFC), inorganic refrigerants (ammonia, carbon dioxide), hydrocarbon (propane and iso-butane), and other refrigerants have been discussed in detail and a comprehensive view and forecast is provided for each category with the market volumes and revenues.