Market Overview
Chlorofluorocarbons
(CFCs) are nonflammable and harmless compounds made up of chlorine, fluorine,
and carbon atoms. Because of their non-flammable and non-toxic nature, which
allows for easy conversion from gas to liquid and vice versa, chlorofluorocarbons
(CFCs) were originally developed as refrigerants. They now also find use in the
manufacture of aerosol sprays, packaging material, solvents, and foam blowing
agents. CFCs are also known as 'Freons,' a trademark of Wilmington,
Delaware-based E.I. du Pont de Nemours & Company. Chemists' research has
shown that CFCs contribute to the ozone layer's depletion by accumulating in
the stratosphere, which lowers stratospheric ozone concentration and raises the
incidence of skin cancer and genetic damage in organisms. Due to rising
concerns about the risks of CFCs, over 140 countries have decided to phase out
their manufacture.
Market Dynamics
Because they
are highly stable, non-flammable, and non-toxic, the chlorofluorocarbon
market is primarily driven by their use in home appliances. CFCs are
employed in the manufacture of air conditioning devices and refrigerators, and
the refrigerants industry accounts for the majority of the market share.
Because of the comparatively lax laws and legislations prohibiting the use of
CFCs, emerging nations are projected to lead the market for CFCs. However, the
highly stable property of CFCs, which expanded their demand in industry, is the
primary cause of today's environmental issues. The stratospheric ozone layer
shields Earth from harmful ultraviolet (UV) radiation, and even a little
reduction in stratospheric ozone concentration can cause dangerous diseases in
humans and other creatures, such as skin cancer and genetic problems. When UV
rays interact with CFC molecules, the latter dissociates, releasing chlorine
atoms and chlorodifluoromethyl radicals. This starts a chain reaction in which
a single chlorine atom converts countless ozone molecules to oxygen.
Hydrochlorofluorocarbons, or HCFCs, represent a lower risk than CFCs because
they decay more quickly at lower altitudes, but they, too, are set to be phased
out by 2030 due to their risk of ozone depletion in the stratosphere.
Market Outlook
Asia
Pacific, Europe, North America, and the Rest of the World make up the worldwide
chlorofluorocarbon market. Environmental agencies in North America and Europe
are likely to impose strict laws and standards, resulting in market growth. In
addition, the presence of mature markets in these areas contributes to the slow
development rate. In wealthy economies like the United States, the demand for
CFCs is expected to be replaced by increased usage of green refrigerants. Due
to the use of CFCs in nations like India and China, Asia Pacific, Latin
America, and the Middle East are likely to account for the biggest market
share.
Comments
Post a Comment