SOUTH KOREA REFRIGERANT MARKET

INTRODUCTION

Refrigerant usage is governed in South Korea to guarantee sustainability and environmental protection. To comply with international norms and regulations, alterations have been made to the particular refrigerants utilized in the nation.

The following are some crucial details about refrigerants in South Korea: Compliance with the Montreal Protocol: As a signatory to the Montreal Protocol, South Korea is committed to eliminating ozone-depleting compounds and lowering greenhouse gas emissions from refrigerants. The protocol specifies precise goals and schedules for the discontinuation of controlled substances.

Hydrochlorofluorocarbons (HCFCs) are being phased out in South Korea in compliance with the Montreal Protocol. Because of their potential to harm the ozone layer, HCFCs are gradually being phased out of use. To restrict the manufacture, import, and use of HCFCs, the government has put restrictions in place.

Transition to HFCs with Lower GWP: In South Korea, hydrofluorocarbons (HFCs) are frequently employed as HCFC replacements. There is, however, a rising emphasis on switching to HFCs with lower GWPs or alternative refrigerants that have even fewer environmental effects due to their high global warming potential (GWP).

Adoption of Natural Refrigerants: South Korea has demonstrated a dedication to promoting natural refrigerants with very low or zero GWPs, such as carbon dioxide (R-744), ammonia (R-717), and hydrocarbons (R-290, R-600a). These natural refrigerants are utilized more frequently in a variety of applications because they are thought to be more environmentally benign.

SOUTH KOREA REFRIGERANT MARKET SIZE AND FORECAST

The South Korea refrigerant market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

The Chemours Company (Chemours), a global chemistry company with market-leading fluoroproducts, launched that Korea's refrigerant, E-mart, has chosen to use Opteon XP40 (R-449A), its low global warming potential (GWP) hydrofluoroolefin (HFO) refrigerant, in their refrigeration systems. A crucial step for E-mart to achieve its commitment to sustainability is the introduction of low GWP refrigerants. The use of Opteon XP40 refrigerant will increase energy efficiency at E-mart stores around Asia Pacific, as well as provide additional benefits to end users like higher product quality. E-mart is rapidly growing and plans to have more than 200 outlets using OpteonTM XP40 refrigerant by the end of the year.

COMPANY PROFILE

• Chemours Company
• HOSAN CORPORATION CO. LTD.
•  SAMIL COLD STORAGE CO. LTD.
•  NEO SEMITECH CO. LTD.
• Honeywell Inc.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many refrigerant are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a South Korea refrigerant and key vendor selection criteria
3. Where is the South Korea refrigerant manufactured? What is the average margin per unit?
4. Market share of Global South Korea refrigerant market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global South Korea refrigerant in-house
6. key predictions for next 5 years in Global South Korea refrigerant market
7. Average B-2-B South Korea refrigerant market price in all segments
8. Latest trends in South Korea refrigerant market, by every market segment
9. The market size (both volume and value) of the South Korea refrigerant market in 2023-2030 and every year in between?
10. Production breakup of South Korea refrigerant market, by suppliers and their OEM relationship