The global HFO refrigerant market is anticipated to grow at a considerable CAGR during the forecast period (2021-2027). HFO refrigerant or Hydrofluoroolefins refrigerant is a new type of refrigerant that causes less global warming and is a replacement for HFC (hydrofluorocarbons). HFC is mostly found in domestic fridges and has a global warming potential of 1,000 times that of carbon dioxide.
HFC’s and CFCs (chlorofluorocarbons) are the fastest-growing greenhouse gases and increasing every year that is very harmful to the environment. Rising environmental concern is driving the growth of the HFO refrigerant market across the globe. It is a widely used refrigerant across the globe.
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However, some factors are restraining the growth of the market that includes the high cost involved in HFO. However, new advancements in refrigeration as in creating of blends, and the phase-out policy of HFC will eventually increase the consumption of HFO in the future and hence will drive the HFO industry growth during the forecast period.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
Segment Covered-
· By Refrigerant Type
· By Application
Regions Covered-
· North America
· Europe
· Asia-Pacific
· Rest of the World
Competitive Landscape- Harp International Ltd., The LINDE Group, DuPont Inc., and Others.
Key questions addressed by the report
· What is the market growth rate?
· Which segment and region dominate the market in the base year?
· Which segment and region will project the fastest growth in the market?
· How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
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A full Report of HFO Refrigerant Market is Available at: https://www.omrglobal.com/industry-reports/hfo-refrigerant-market
Global HFO Refrigerant Market Report Segment
By Refrigerant Type
· R-1234YF
· R-1234ZE
· R-1234ZD
By Application
· Refrigeration
· Air-Conditioning
By End-User
· Domestic
· Commercial
· Transportation
· Industrial
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
