The CFC Market is projected to grow at a rate of 12.13% CAGR in 2021-2031 with an expected market size of 182.38 Million.
The non-inflammable, non-toxic chlorofluorocarbons comprise of chlorine, fluorine, and carbon atoms. Originally, chlorofluorocarbons were developed as refrigerants. Currently, they are being used in the production of aerosol sprays, packaging material, solvents, and spraying agents due to their non-inflammable and non-toxic properties. They are also known as the Freons, trademark of E.I. du Pont de Nemours & Company in Wilmington, United States.
However, chemists research have shown that CFCs contribute to the ozone layer loss by concentrating in the stratosphere, which decreases the stratospheres ozone level and increasing the incidence of skin cancer and genetic harm to beings. More than 140 nations have decided to ban CFC manufacturing due to rising fears about the hazards presented by these chemicals.
COVID19 Analysis
With the global health organization declaring a general well-being crisis since the COVID-19 virus flare-up in December 2019, illness has spread across nearly everyone. The worldwide impact of COVID 2019, impacted the chlorofluorocarbon market (CFC), is already becoming evident. The outbreak of COVID-19 has repercussions for some points of view, similar to retractions; travel boycotts, and isolated products; cafes shut down; limited indoor/open-air opportunity; more than 40 mainly sensitive communications nations announced; a high reduction in the production network; instability in securities; decrease in business security, growing frenzy within the population and vulnerabilities.
Key Trends & Drivers
Usage of chlorofluorocarbon in domestic appliances is the main factor for the industrys growth. Because of its pretty reliable, inflammable, and nontoxic characteristics, the demand will rise. In most marketplaces, the refrigerant sector is responsible for CFCs used during the making of air conditioning products and refrigerators. Developing markets are likely to lead to demand for CFCs due to comparatively weak restrictions and laws that do not apply to CFCs. But then, the durable nature of CFCs in the industry increased the demand, which is the cause of todays environmental concerns. The stratospheric ozone layer shields the Earth against dangerous UV radiation & even a slight reduction in the concentration of stratospheric ozone may induce severe illnesses in humans and other species, like skin cancer and genetic problems. The interaction involving UV and CFC molecules leads to the dissociation and generation of atoms of chlorine and chlorodifluoromethane radicals.
The interaction involving UV and CFC molecules leads to the dissociation and generation of atoms of chlorine and chlorodifluoromethane radicals. It commences a cycle that converts a single chlorine atom to oxygen by numerous ozone molecules. However, hydrochlorofluorocarbon or HCFCs represent relatively little danger than CFCs. They dissolve at a lower atmosphere, but because of their stratospheric ozone depletion concern, being slated for phase-out by 2030.
Key players
Daikin Industries, Navin Fluorine International Ltd, Arkema SA, DuPont de Nemours & Company, Mexichem Flur SA, Solvay SA, SRF Ltd., and Dongyc Group, The Chemours Company, Honeywell International Incorporations, Gujarat Fluorochemicals Limited are among other key manufacturing companies in the global market for chlorofluorocarbons are among those operating.
Regional Analysis
Asia Pacific, Europe, North America, and the rest of the world are all segmented on the world chlorofluorocarbon market. Market development is estimated to lead to strict rules and directives enacted by environmental authorities in North America and Europe. Moreover, the existence of mature markets also contributes to the low growth rate in these regions. The need for CFCs is likely to be replaced by the rising use of green coolants in developed economies, such as the U.S. Regions, such Asia Pacific, Latin America, and the Middle East, due to the use of CFCs in nations like India or China.
Report Highlights
• Historical data available (as per request)
• Estimation/projection/forecast for revenue and unit sales (2021-2031)
• Data breakdown for every market segment (2021-2031)
• Gross breakdown for every market segment (2021-2031)
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry and Revenue Segmentation
Product Type Analysis (Revenue, USD Million, 2020-2031)
• CFC-11
• CFC-12
• CFC-113
• CFC-114
• CFC-1155
• Others
Application Analysis (Revenue, USD Million, 2020-2031)
• Solvent
• Aerosol
• Propellants
• Blowing Agents
• Refrigerants
• Others
Key Companies Analysis (Revenue, USD Million, 2020-2031)
• The Chemours Company
• Honeywell International Incorporation
• Gujarat Fluorochemicals Limited
• Daikin
• BASF Chemicals
• 3M
• DowDuPont
• Arkema
• Solvay SA
• Others
Regional Analysis (Revenue, USD Million, 2020 – 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United kingdom
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• UAE
• Qatar
• Saudi Arabia
• Japan
• Africa
• Rest of the world
Available Versions:
• United States CFC Industry Research Report
• Europe CFC Industry Research Report
• Asia CFC Industry Research Report
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