According to the recent research report titled ‘Global R407c Refrigerant Market Size study, by Type (10kg, 11.3 kg, 850kg, others) by Application (Industrial Refrigeration, Residential and Light Air Conditioning, Industrial and Commercial Air Conditioning) and Regional Forecasts 2020-2027’, available with Market Study Report, global R407C refrigerant market is projected to record significant growth during 2020-2027.
 

Favorable government initiatives to lower pollution, especially the ozone depleting refrigerants is primarily driving the growth of global R407C refrigerant market. Additionally, surging demand for air conditioners across commercial as well as residential buildings will also contribute to the market outlook over the forecast period.
 

Notably, R-407C is a mixture of hydrofluorocarbons utilized as a refrigerant, as an alternative for R-22 which is supposed to be ceased by the end 2020. Focus towards replacing ozone depleting refrigerants will boost the demand for R407c refrigerants.
 

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According to Japan Industry Conditioning Air & Refrigeration Association, worldwide AC demand reached 110 million units in 2017 from 102 million units in 2016. Commercial AC demand rose to 7.35 million units in North America and 2.48 million units in China. Moreover, usage of refrigerant in healthcare industry and industrial cooling will propel the industry expansion.
 

Based on type, global R407C refrigerant market is divided into 850 kg, 11.3 kg, 10 kg, and others. Speaking of application spectrum, the industry is bifurcated into industrial & commercial air conditioning, residential & light air conditioning, and industrial refrigeration.
 

Citing the regional landscape, global R407C refrigerant market is segmented into Latin America, North America, Asia-Pacific, Europe, and Rest of the world. The report states that North America currently holds significant share of global market and will grow further, on account of high demand for air conditioners for residential and commercial purposes across the region.
 

Meanwhile, Asia Pacific R407C refrigerant industry is expected to record a decent growth over the study period owing to rapid industrialization, changing lifestyles, and rising disposable income in the region.
 

Major players in global R407C refrigerant market are Foshan Liangyou Environmental Protection Chemicals, Sinochem Qingdao Co. Ltd., Zhejiang V&T Group Limited, Actrol Pty Ltd., Linde Plc, Weitron Inc., Daikin Industries Ltd., Orbia, Honeywell International Inc., and The Chemours Company.