A new research report says the refrigerant market has great growth potential with the Asia Pacific leading consumption over the next five years.
The refrigerant market is expected to grow at a compound annual growth rate of 5.2 per cent over the next five years and reach 1.6 million metric tonnes by 2018.
Driving this demand is the growth in consumer durables and the automobile industry with major suppliers responding to the phase out of HCFCs by providing a wide range of alternatives to maintain global supply.
The primary application of refrigerants is in the manufacturing of refrigeration and air conditioning equipment followed by solvents, foam blowing agents, pharmaceuticals, food stuff, plastics and electronics.
The growing demand for cooling equipment and high growth in the Asia-Pacific region is expected to be the driving force behind long term growth.
Restrictions under the Montreal Protocol which is pushing demand for natural or green refrigerants is starting to emerge in the refrigerant market.
The report, which is entitled "Refrigerant Market – Hydro Chlorofluorocarbons (HCFC), Hydro fluorocarbon (HFC), Hydrocarbon (HC), Inorganic (Ammonia, Carbon dioxide) - Trends & Forecasts to 2018" studies and forecasts the refrigerant market until 2018.
The market is further segmented by geographic regions with consumption and revenue forecast for each area.
Each market is also segmented by applications such as refrigeration (domestic, commercial, transportation, and industrial), and AC (stationary or air to air AC, chillers and hydronic heat humps and Mobile AC).
Each market can also be segmented by product type such as fluorocarbons (HCFC and HFC), inorganic refrigerants (ammonia, carbon dioxide), hydrocarbon (propane and iso-butane), and other refrigerants.
Leading players are also profiled including Airgas, Arkema, Daikin Industries, Du Pont, Honeywell, Linde AG, Solvay, the China-based Dongyue Group, Navin Fluorine International Ltd, Gujarat Fluorochemicals Ltd, SRF Ltd and many more.
More information is available at www.reportsnreports.com
