A report focused on the refrigeration market, including hydrochlorofluorocarbons (HCFC), hydrofluorocarbon (HFC), hydrocarbon (HC) and other refrigerants such as ammonia and carbon dioxide was released by Research and Markets.
According to the report, the refrigerant market is expected to grow at a compound annual growth rate of 5.2 percent over the next five years and reach 1.6 million metric tons by 2018. Asia-Pacific, with its thriving economies and rapidly expanding manufacturing bases, is expected to experience the highest consumption during the next five years.
The growing demand for cooling equipment and high growth in the Asia-Pacific region is expected to remain the driving force for refrigerant demand in the long term. However, changes in the Montreal Protocol with respect to choice in refrigerants are restraining market growth. This is due, according to the report, to greenhouse effects of traditional refrigerants such as CFC and HCFC. Because use of traditional refrigerants is being restricted, the demand for natural or green refrigerants is emerging.
The report studies and forecasts the refrigerant market until 2018. The market is further segmented and forecasted for major geographic regions such as the Americas, Europe, Asia-Pacific and the rest of the world. For additional information, visit www.researchandmarkets.com.