HYDRO CHLOROFLUOROCARBON MARKET ANALYSIS

Market Challenges And Opportunities

HCFC Market Outlook

• The foam, refrigeration and air-conditioning market has a scope for market growth in Asia Pacific and African markets due to high demand from end use industries. Blowing agents are required in construction, packaging and manufacture of appliances. Yet the environmental concerns of ozone layer depletion and global warming has led to restriction of HCFC as refrigerant and blowing agent. Hence, Asian and African markets face a challenge of meeting market needs and reducing climate change at the same time. A shift from fluorocarbons to alternatives is expected during the forecast period.
• European Union has adopted measures, which go way beyond the requirements of the Montreal Protocol, and has actively promoted R&D for alternatives. HCFC use in many industrial sectors has been completely phased out. Similarly, in North America, the refrigeration market has seen a shift in CO₂ based refrigeration systems resulting in a withering market for HCFCs.
• Latin American countries have also reduced HCFC and other ozone depleting substances by 60% according to UN Industrial Development Organization, despite burgeoning growth in refrigeration markets of Brazil and Chile. The region aims at a phase-out by 2030 meeting the Montreal Protocol requirements.