Growth in Awareness Regarding Harmful Effects of CFC, HFC and HCFC Anticipated To Drive Global HFO Refrigerant Market: Ken Research

HFO or Hydrofluoro olefin is an unsaturated organic compounds composed of hydrogen, fluorine and carbon. It is categorized as having low global warming potential (GWP) and zero ozone depletion potential (ODP) and so provide a more environmentally friendly alternative to CFCs, HFCs and HCFCs. Many refrigerants in the HFO class are integrally stable chemically and inert, non-toxic, and non-flammable or mildly flammable. Several HFOs have the proper freezing & boiling points to be useful for refrigeration at common temperatures. They also show potential as blowing agents, i.e. in production of insulation foams, construction materials, food industry, and others.

According to study, ā€œGlobal HFO Refrigerant Market Size study, by Type (R-1234YF, R-1234ZE, R-1234ZD), By Application (Refrigeration, Air Conditioning, Others) and Regional Forecasts 2018-2025ā€ the key companies operating in the global HFO refrigerant market are A-Gas, Harp International Ltd., GTS SPA, Quimobasicos Sa De Cv, The Linde Group, Climalife Groupe Dehon, Zhejiang Yonghe Refrigerant Co. Ltd., Dupont, Honeywell, Airgas Inc., Daikin, Brothers Gas, Ecofreeze International, Chemours, Mexichem, MK Chemical, Intergas, Engas Australasia, Deepfreeze Refrigerants, Hychill Australia, Puyang Zhongwei Fine Chemical, Shandong Yueon Chemical Industry, Tazzetti, Sinochem Group, SOL Spa, The Natural Refrigerants Company. The key players have expanded their geographical presence through new product launches & developments, expansions, partnerships & contracts, and acquisitions & mergers

Based on type, HFO refrigerant market market is segmented into R-1234ZE, R-1234YF and R-1234ZD. Based on low GWP refrigerants type, market is segmented into fluorocarbons, inorganics and hydrocarbons. Fluorocarbons include HFCS and HFOC. Inorganics include carbon di-oxide, ammonia and others (air and water). Hydrocarbons include isobutane, propane and others (Butane, Ethylene, Propylene, and Ethane). In addition, based on application, market is segmented into air conditioning, refrigeration and others. The above two applications are further sub-segmented as commercial, transportation, domestic, and the industrial applications.

The HFO refrigerant market is driven by rise in demand for the consumer products, followed by growth in awareness regarding harmful effects of CFC, HFC and HCFC, increase in demand for refrigeration and air-conditioning application, rise in cold chain market such as cold storage, growth in urbanization, change in lifestyles and increase in disposable income of the individuals. However, rise in stringent regulation against fluorocarbon refrigerants, regular changes in the choice of alternative refrigerant and high cost of refrigerant may impact the market. Moreover, phase out policy of HFC will eventually rise the consumption of HFO market in future and new advancement in refrigeration as in creating of blends are key opportunities for market.

Based on geography, the Asian-Pacific is the leading region in HFO Refrigerant market owing to rise in consumption of HFO Refrigerant for various applications for instance refrigerators and air-conditioners across the developing countries such as China and India. The North-American and European regions are estimated to witness higher growth rated due to rise in awareness among consumers, related to an environmental impact of utilizing the CFC & HCFC refrigerants over the forecast period. In upcoming years, it is expected that the market will be reached at rapid pace on account of lower operating cost with higher performance and growth in technological advancements in refrigeration during the forecast period.

To know more, click on the link below:-

Global HFO Refrigerant Market Research Report

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