Chlorofluorocarbon Market Expand Their Businesses With New Investments

A chlorofluorocarbon is an organic compound that consists mainly of 3 elements which are carbon, chlorine and fluorine which are produced as a derivative of ethane. These are most often known by the DuPont brand name Freon. Dichlorofluoromethane is the most common representative of this organic compound. Chlorofluorocarbons are non-toxic, non-flammable and do not react with other compounds. However, the production of such compounds has been slowly phased out under the Montreal protocol, which is made to stop production of substances that contribute in the depletion of the ozone layer.

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The main application of this organic compound lies in a variety of industrial, commercial and household applications. Along with non-toxic, non flammable and non-reactive these substances also have stable thermodynamic properties and this makes them ideal for various applications which include coolants for commercial and home refrigeration set up, aerosol propellants, electronic cleaning solvents and blowing gents. Out of these, their wide application lies as refrigerants, propellants and as solvents. However, in the recent past it was discovered that this compound causes harm to the environment especially chlorine which contributes largely too the depletion of the ozone layer. Hence, these compounds are being replaced with products such as hydrofluorocarbons.

The main drivers for the chlorofluorocarbons market is its use in the refrigerant industry. The automobile industry is one of the main factors that drives the refrigerant industry. The primary application of chlorofluorocarbons is in the refrigerant industry in the manufacturing of refrigeration and air conditioning products. Other applications, which drive its market, include its use in solvents, foam blowing agents, plastics, and electronics among others. The market for chlorofluorocarbons is expected to rise especially in developing countries. Nevertheless, due to the harmful effects it causes to the environment related to the depletion of the upper layer of the ozone, the compound is being replaced by hydrofluorocarbons, which is being accepted to a huge extent globally as it is safe as compared to chlorofluorocarbons. But the use of hydrofluorocarbons also cause bad effects to the environments but on a smaller scale hence demand for green refrigerants in the market is increasing and is expected to replace chlorofluorocarbons and hydrofluorocarbons in the near future.

The key segments considered for this market include North America, Europe, Asia Pacific and Rest of the World (RoW). The market for chlorofluorocarbons is mature in North America and Europe and is not expected to rise by much in the next few years. This is due to the stringent and restricted policies passed by the respective governments due to the harmful effects they cause to the environment especially the upper layer of the ozone and due to the green house effects that it causes. In these countries, the demand for green refrigerants is expected to rise in the next few years. The market for chlorofluorocarbons is still high in India, Latin American and Middle Eastern countries and is expected to rise due to its ever-growing economy and fast expanding manufacturing bases and lack of laws and regulations against its use. India and China manufacture chlorofluorocarbons to a huge extent and the market demand for the compound is still large here and not expected to decline anytime soon over the next few years.

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The main companies profiled for the manufacture of chlorofluorocarbons include Arkema SA, which is based in France, Daikin Industries which is based in Japan, E.I. DuPont de Nemours & Company and Honeywell International which is based in the U.S, Mexichem Flur SA which is based in Mexico, Solvay SA which is based in Belgium, Dongyc Group which is based in China, Navin Fluorine International Ltd. and Gujarat Fluorochemicals Ltd and SRF Ltd. which are based in India among others.

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