Published August 2023
Fluorocarbons analyzed in this report include fully halogenated chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), hydrofluorocarbons (HFCs) and hydrofluoroolefins (HFOs). CFCs and HCFCs are recognized as ozonedepleting substances (ODS). HFCs, while not contributing to ozone depletion, are recognized as potent greenhouse gases with a global warming potential (GWP) many times that of carbon dioxide. The new generation HFOs are not recognized as ODS and have an extremely low GWP; consequently, they have seen rapid growth in consumption as replacements for traditional products in applications including air-conditioning systems, refrigerants, foam blowing agents and aerosol propellants.
Global consumption of fluorocarbons will continue to grow at an average annual growth rate of 2.3% per year during 2023–28. HCFC consumption account for about half of the global market and are expected to grow at an average rate of 3.2%. HFC consumption will stagnate at best, with mainland China and other Asian markets counterbalancing the shrinkage of the developed markets of the United States, Europe and Japan. Consumption of HFOs will grow at an average annual rate of about 8% in the forecast period, aiming the growing conversion of fluorocarbon refrigerants and foam-blowing manufacturing toward hydrocarbon technologies.
In 2023, mainland China, North America and Europe were responsible for about three quarters of total fluorocarbons consumption.
The following pie chart shows world consumption of fluorocarbons in 2023:
Overall, polymer precursors will drive the future fluorocarbons market. In marked contrast to other fluorocarbon segments, polymer precursors have shown strong growth since 1990. The use of fluorocarbons for solvent cleaning and flexible polyurethane foam, as well as the very large European aerosol market, was virtually eliminated in the 1990s during a transition to not-in-kind replacement processes and chemicals.
For more detailed information, see the table of contents, shown below.
S&P Global’s Chemical Economics Handbook – Fluorocarbons is the comprehensive and trusted guide for anyone seeking information on this industry. This latest report details global and regional information, including
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S&P Global’s Chemical Economics Handbook – Fluorocarbons has been compiled using primary interviews with key suppliers and organizations, and leading representatives from the industry in combination with S&P Global’s unparalleled access to upstream and downstream market intelligence and expert insights into industry dynamics, trade and economics.
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