Hydro Fluorocarbon Market Overview
Hydro fluorocarbon is mainly employed as a refrigerant in various end user segments such as auto mobiles and air conditioners among others. Hydro fluorocarbons also find application as solvents and blowing agents in several industries such as pharmaceutical, electronics, etc. Refrigerant is the foremost application segment for hydro fluorocarbons and the trend is expected to continue for the next six years.
Increasing demand for refrigerants has been a major driver for the industry. Demand for refrigerants is profoundly dependent on the overall economic growth rate, industrial investments and increasing disposable income. Therefore, developing economies of Asia Pacific region are expected to drive the market growth in the near future. Hydro fluorocarbons are substituting HCFC (Hydro Chloro Fluorocarbon) and CFC (Chloro Fluorocarbon) as their use has been phased out owing to their environmental hazards.
Although hydro fluorocarbons are less hazardous than CFC and HCFC, hydro fluorocarbons are hazardous to the environment and their use is monitored by several international organizations. Environmental hazards associated with hydro fluorocarbons have been a major restraint for the industry. Developing an eco-friendly refrigerant is expected to offer huge growth opportunity for the industry.
Asia Pacific dominates the global hydro fluorocarbon market and the trend is expected to continue in the near future. The demand in Asia Pacific is mainly driven by the developing economies of India and China. North America and Europe are anticipated to grow at a sluggish rate owing to market maturity and stringent environmental regulations. In the RoW region, demand for hydro fluorocarbon is expected to be driven by the increasing demand from Middle East and South America.
Major players in the hydro fluorocarbon market include Honeywell International Inc., Daikin Industries Ltd, Asahi Glass Co. Ltd, Puyang Zhongwei Fine Chemical Co. Ltd, Solvay S.A., Gujarat Fluorochemicals Ltd and Zhejiang Juhua Co. Ltd among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.