A recent report published by a research nester titled “Hydrofluorocarbon Market: Global Demand Analysis & Opportunity Outlook 2027″ delivers a detailed overview of the global hydrofluorocarbon market in terms of market segmentation by type, by application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Hydrofluorocarbon includes the atoms of hydrogen, fluorine, and carbon. The global hydrofluorocarbon market has been segmented based on, type and application. On the basis of type, the global hydrofluorocarbon market has been sub-segmented into R-134a, R-410a, R-407c, R-143a, and R-404a. Based on application type, the global hydrofluorocarbon market has been sub-segmented into refrigeration and air conditioning applications.
The global hydrofluorocarbon market is anticipated to expand at a CAGR of around 5.5% during 2017-2027. The robust growth can be attributed to increasing in the demand from consumer goods and the automotive industry.
By region, the Asia-Pacific region is anticipated to dominate the global hydrofluorocarbon market on the account of rising in the disposable income of the upper-middle-class population in countries such as China and India. Rapid industrialization is the other major reason for the expansion of the market in the Asia-Pacific region.
Rapid industrialization is anticipated to augment the demand for hydrofluorocarbon globally
The robust growth in household appliances and the automobile industry is augmenting the demand for hydrofluorocarbon in the refrigerant industry. The primary application of hydrofluorocarbon is in the manufacturing of refrigeration and air conditioning equipment. Hydro fluorocarbon is used as solvents and foam blowing agents for various applications. The growing demand for cooling equipment and high growth in the Asia-Pacific region is expected to remain the driving force for the hydrofluorocarbon market over the forecast period.
The development of environment-friendly refrigerants is expected to hinder the growth of the global hydrofluorocarbon market
The major suppliers are inclined towards the development of new and environment-friendly technology by offering a wide range of refrigerants and maintaining their supply globally. Eco-friendly refrigerants such as propane and isobutane don’t have harmful environmental impacts which in turn drives the market growth of hydrofluorocarbon.
This report also provides the existing competitive scenario of some of the key players of the global hydrofluorocarbon market which includes company profiling of key companies such as Airgas Inc, Arkema S.A., Asahi Glass Co. Ltd, Daikin Industries Ltd, Harp International Ltd, Dongyue Group Ltd, Gujarat Fluorochemicals Ltd, Linde A.G., Mexichem S.A.B DE C.V., Navin Fluorine International Ltd, PuyangZhongwei Fine Chemical Co. Ltd and others. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global hydrofluorocarbon market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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