A refrigerant is a fluid that is used in air conditioners and refrigerators. The function of a refrigerant is to absorb heat from the contents of the refrigerator or the room (in case of ACs) and throw it out into the atmosphere. A typical refrigerant undergoes a phase change from liquid to gas upon absorption of heat, and back to liquid when a compressor compresses it. There are various types of refrigerants available such as chlorofluorocarbon (CFC), hydro fluro carbons (HFC), and hydrochlorofluorocarbon (HCFC). The application of an ideal refrigerant is made on the basis of its thermodynamic properties, non-corrosive nature, and properties such as non-toxicity and non-flammability.
The usage
of various refrigerants and their environmental effects causing depletion of
the ozone layer have been a constant matter of discussion for the last few
decades. Before 1990s, the most common refrigerant used was R-12 (CFC), by
Dupont, named Freon. However, in the 1990s and 2000s, CFCs were replaced by
HCFCs; the most common being R-22. HCFC refrigerants contain chlorine, which
causes the depletion of the ozone layer and hence, are being phased out. The
use of R-22 in new units has been outlawed since 2010. The phasing out of HCFC,
has been planned, with the U.S. slated to terminate the supply by the year
2020. In emerging economies such as India, 50%to 60% of the ACs operating in
the country utilize HCFCs and as per the Government’s plan, it is estimated to
be phased out by the year 2030.
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Manufacturers
created another set of refrigerant called Hydro Fluoro Carbon (HFC) in order to
remove the chlorine content from the refrigerant. HFCs have the potential to
cause global warming; however, they are still better than HCFCs, as they do not
deplete the ozone layer. The most common HFC in use is R-410A, being better in
terms of ozone depletion potential and energy efficiency; however, it still
causes global warming.
The
primary restraint associated with the R-410A refrigerant is still possesses the
potential to cause global warming potential. In 2015, the Environmental
Protection Agency (EPA) added a new rule to their Significant New Alternatives
Policy (SNAP); this new rule was targeted toward the phasing out
Hydroflurocarbon refrigerants, including R-410A. Currently, no specific
timeline has been issued for the phase out of R-410A refrigerant; however, the
scheduled phased out by the EPA is expected to be staggered with respect to
different applications. The approach used here is to allow businesses,
contractors, and consumers to have time to adapt to the changes. Moreover, the
emergence of environment-friendly set of Hydrocarbon (HC) refrigerants such as
R-290 and R-600A due to their halogen-free nature, no ozone depletion
potential, and lower global warming potential are likely to catastrophe the
demand for R-410A refrigerant in the near future.
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The driver
of the R-410A refrigerant market is that the government had recently planned
for the phase out of an important refrigerant R-22. Therefore, it is unlikely
for the government to announce the phase out of R-410A in the near future; at
least till 2025. This presents significant opportunity for the R-410A
refrigerant to capture significant share of the market. R-410A has been
approved for usage in new residential air conditioners in 2015 in the U.S.
Moreover, newer AC models are being designed to be utilized with R-410A for
reliable and more efficient operation. Air conditioning compressors can run
cooler, reducing the risk of compressor burnout due to overheating, as R-410A
can absorb and release more heat than R-22. Another advantage offered by the
R-410A is that it also functions at a higher pressure than R-22, therefore new
compressors are built to withstand greater stresses, reducing the chance of
cracking. Furthermore, R-410A refrigerant possesses the potential to cause
global warming potential and governments are planning to phase out of the same;
however, no official announcement has been made; there has not been a defined
or clear low Global Warming Potential alternative to R-410A. This certainly
doesn’t mean that companies and governments aren’t proactively looking for a
suitable alternative; however, at this point in time, no suitable alternative
exist, meaning R-410A is going to remain in the market in the near future.
Recently,
the prices of R-410A witnessed an increase due to the worldwide shortage of
R-125 during the summer of 2017, as R-410A is a blended refrigerant comprising
of R-32 and R-125. The majority of R-125 is sourced from China and the chemical
Flurospar, a main ingredient in the R-125 refrigerant, witnessed a 40% increase
in price at the beginning of 2017. This price increase caused a direct effect
on the price of R-125, raising it by 130%, which in turn affected the price of
R-410A. The increase in price of Flurospar was due to the strengthening of
environmental laws in China, which directly affected the mining industry.
In terms
of application, the R-410refrigerant market can be segregated into,
refrigerators (domestic, commercial, and transport), large-scale refrigerators,
air conditioners, and heat pumps. The air conditioners application segment is
projected to expand at a rapid pace. Asia-Pacific is estimated to hold a major
share of the refrigerants market during the forecast period due to the growing
automotive industry in the region.
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Based on
geography, the global R-410A refrigerant market can be segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia-Pacific dominated the global R-410A refrigerant market in 2016. Rising
population and infrastructural development in the region have led to an
increase in the usage of refrigerants for various applications such as
refrigerators and air conditioners. Furthermore, the growing populations and
industry alliances are expected to boost the R-410A refrigerants market in the
region. The presence of large consumer appliances manufacturers such as Daikin
(Japan), Samsung (South Korea), LG (South Korea), and Videocon Industries
Limited (India) propels the refrigerants market in the region.
Key
players operating in global R-410 refrigerant market include Daikin, Chemours,
Arkema, Dongyue Group, and Sinochem Group.
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