A recently released report is predicting that the global refrigerant market will grow from £6.9bn in 2012 to £10.3bn by 2018.
The report “Refrigerant Market - Hydro Chlorofluorocarbons (HCFC), Hydro fluorocarbon (HFC), Hydrocarbon (HC), Inorganic (Ammonia, Carbon dioxide) - Trends & Forecasts to 2018”“, defines and segments the global refrigerant market with analysis and forecasting of the global volume and revenue.
It states that the rapid economic growth in most of the emerging countries such as China and India in the recent years resulted in rapid growth of commercial, industrial and automotive sector, which in turn created significant demand for refrigerants.
Asia-Pacific accounted for largest portion of refrigerant demand in 2012, totaling just around half of the world market. The increase in regions demand is mainly due to rising demand for cooling products primarily driven by increasing middle class population in developing countries such as China and India.