Chlorofluorocarbon Industry to Reach Arkema SA, The Chemours Company, Firefreeze International million by 2019 — Exclusive Industry Report Covering Pre and Post COVID-19 Pandemic Market Overviews, Analysis and Forecasts By 2026 | StraitsResearch

Chlorofluorocarbons (CFCs) are hydrocarbons that contain elements such as carbon, chlorine, and fluorine. These hydrocarbons are tasteless, odorless, and colorless gases or liquids that evaporate easily at room temperature. CFCs are non-reactive, stable, non-toxic, non-flammable, and have boiling points around zero degrees centigrade. The legislation controlling releases of CFCs — the Montreal Protocol — had compelled the complete phase-out of CFCs by 1996. Only developing countries were allowed to exceed this at a level of up to 15% of their products before the signing of the Protocol. In recent years, HFCs have gained application as substitutes for CFCs.

Relaxed regulations pertaining to CFCs have enabled Asia-Pacific to emerge as a prominent exporter of CFCs. Although this facilitates the availability of the product at a lower price, it also adversely affects its financial viability for manufacturers or producers in the regional market.

CFCs — due to their desirable physical properties — are the preferred choice for refrigerant gases in refrigerators, air conditioners, and freezers. Moreover, properties such as low boiling points drive their use in blowing agents for foam plastics and packaging materials. However, CFCs have high global warming potential (GWP) and are potent greenhouse gases, which has led to a ban on their usage and their gradual phase-out from Europe and the U.S.

CFCs also find use as working fluids in cooling and refrigerating equipment, which drives their applications in various end-use industries such as automotive, consumer goods, aerospace, and defense. The expanding automotive industry is augmenting the growth of the chlorofluorocarbon market, as CFCs are used as coolants in car engines. This driver is particularly prominent in emerging economies, led by countries such as India, Indonesia, Argentina, and Brazil.

Stringent Regulations Driving the Phase-Out of CFCs Hamper Market Growth, Partciluarly in Developed Economies

Stringent norms regulate the use of CFCs in light of their harmful effects on the environment, which has led to their phase-out in the Americas and Europe. Some of the international environmental agreements directing the phase-out these hydrocarbons are:

Vienna Convention for the Protection of the Ozone Layer (1985)
Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
The London Amendment (1990)
The Copenhagen Amendment (1992)
The Montreal Amendment (1997)
The Beijing Amendment (1999)
The Montreal Adjustment (2007)

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The Major Players Covered in this Report: Arkema SA, The Chemours Company, Firefreeze International, DAIKIN INDUSTRIES, Ltd., Chemplast Sanmar, Gujarat Fluorochemicals, SRF Ltd, Orbia, and Honeywell International Inc. are some of the prominent participants in the chlorofluorocarbon market. Key players are likely to form partnerships with end-use companies and pursue a forward integration strategy for securing uninterrupted supply for end-users and expanding their market reach By way of supplier agreements., & More...

By Type, CFC-11, CFC-12, Others
By Application, Aerosols, Refrigeration, Foams, Metered-dose Inhalers, Others
By End-Use Industry, Pharmaceutical Sector, Packaging Industry, Solar Energy Sector, HVAC-R Industry, Others

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Chlorofluorocarbon in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Chlorofluorocarbon market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Chlorofluorocarbon and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Chlorofluorocarbon. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Chlorofluorocarbon Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Chlorofluorocarbon Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Chlorofluorocarbon Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

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