Los Angeles, December 12, 2019 – QY Research has recently published a report titled, “Global Hydrochlorofluorocarbons (HCFCs) Market Report, History and Forecast 2014-2026, Breakdown Data by Manufacturers, Key Regions, Types and Application”. According to the report, the global market was worth US$1231.59 mn during 2018 and is expected to reach US$925.68 mn by 2026, registering a CAGR of -3.51% during the forecast period of 2018 to 2026.
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Hydrochlorofluorocarbons Market to Flourish as they can be Easily Dissolved
Hydrochlorofluorocarbons are extensively used in insulative foams and refrigerants such as air conditioning systems, freezers, and refrigerators as they can evaporate easily under normal conditions. They are known to be unreactive and stable. They can be easily dissolved in organic solvents that contain carbon other than water. HCFCs do not immediately affect the environment and have lesser atmospheric chlorine loading. It has shorter atmospheric lifetimes.
It is commonly used in numerous household appliances. Propellants used in pharmaceutical aerosols incorporate HCFC frequently. HCFC provides desired flammability properties, has technical, and safety properties for wide range of applications. They are immensely used in tall buildings, transportation hubs, supermarkets, and theatres.
Refrigerants Segment to Augment as Demand for Domestic and Commercial Refrigeration is Increasing
The refrigerants segment is expected to rise in demand during the forecast period as they only deplete 10% of the ozone layer as compared to CFCs. It is preferred as it is safe, cost effective, low-in-toxicity, and energy-efficient. They have also accommodated CFCs to fall down by 75%.
North America to Dominate the Global Market as Companies Invest in Business Plans
North America is expected to lead the global market as this region has the highest number of investors and manufacturers. This region is also witnessing increased investment in research and development activities as government bodies are trying to come up with improved and eco-friendly products to save the ozone layer.
Companies are Launching New Products to Serve Changing Needs of Consumers
Companies are actively investing in innovative product launches. The market is expected to witness introduction of technologically advanced products that fulfil consumer demands. The market is expected to augment as key players are strategically focussing on mergers and acquisitions.
The key players operating in the global market are Gujarat Fluorochem, Navin Fluorine, Arkema, Dongyue Group, Zhejiang Juhua, Meilan Chem, Sanmei, 3F, Yingpeng Chem, Linhai Limin, Bluestar, Shandong Huaan, Zhejiang Yonghe, China Fluoro, and Zhejiang Lantian.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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