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

Chlorofluorocarbon Market:

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.

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.

Although the overall production and emissions of CFCs significantly dropped with their phasing out by the Montreal Protocol, CFC-11 continues to witness an upward trend, which is driven its use as a foaming agent for building insulation. Asia-Pacific drives the global chlorofluorocarbon market, against a backdrop of rapid industrialization and a strong automotive industry. CFCs are used as coolants in automobiles, which drives the chlorofluorocarbon market in Asia-Pacific’s automotive industry.
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 register strong demand as blowing agents in foam insulation and building envelopes to increase thermal resistivity and maintain the temperature inside the space. For example, spray polyurethane foam (SPF) manufactured from trichlorofluoromethane (CFC-11) has a better thermal resistivity than HCFC-141b. Rapid industrialization around the globe, especially in Asia-pacific, is significantly influencing the rising demand for CFCs.

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.

China is the world's largest consumer of Ozone-Depleting Substances (ODSs), followed by South Korea. The use of freon — the most widely used coolant in large air-conditioning systems — significantly contributes to CFC consumption in the region. Air conditioning systems are used in consumer durables such as refrigerators, air conditioners, and coolers. Being non-toxic, odorless, and colorless, CFCs are also consumed in the air conditioning systems of automobiles, making the automotive industry the second-largest consumer of CFCs.

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The Major Prominent 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.

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

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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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)

Key Chlorofluorocarbon Market Trends:
- The report identifies, determines, and forecasts the Global Chlorofluorocarbon Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Chlorofluorocarbon Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Chlorofluorocarbon Market.

Key Questions Answered in The Report:
What will the Chlorofluorocarbon market growth rate?
What are the key factors driving the global Chlorofluorocarbon market?
Who are the key manufacturers in the Chlorofluorocarbon market space?
What are the market opportunities, market risk, and market overview of the Chlorofluorocarbon market?
What are sales, revenue, and price analysis of top manufacturers of the Chlorofluorocarbon market?
Who are the distributors, traders, and dealers of the Chlorofluorocarbon market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Chlorofluorocarbon Industry?
What are sales, revenue, and price analysis by regions of Chlorofluorocarbon industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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