HYDRO CHLOROFLUOROCARBON MARKET ANALYSIS

Regional Analysis

Under the Montreal Protocol complete phase out of HCFCs is slated for 2020 in developed countries and 2030 in emerging economies. Developed countries have already adopted or are in the process of adopting natural or less harmful artificial alternatives on a large scale, resulting in the phasing out of HCFC market in North America and Europe.

HCFC Market Outlook

• 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.