South Korea R12 Refrigerant Market was valued at USD 0.15 Billion in 2022 and is projected to reach USD 0.18 Billion by 2030, growing at a CAGR of 3.0% from 2024 to 2030.
The South Korea R12 Refrigerant Market is currently witnessing significant transformation, driven by both industry shifts and growing environmental concerns. R12, also known as dichlorodifluoromethane, was once widely used in refrigeration and air conditioning systems. However, its usage has been steadily phased out due to its harmful effects on the ozone layer. Despite its phase-out, the market for R12 refrigerants in South Korea remains active, primarily due to the ongoing demand from industries requiring retrofitting or servicing of older equipment that still relies on this refrigerant.
The primary industries driving the demand for R12 refrigerants in South Korea include automotive repair, refrigeration maintenance, and air conditioning services. Many of the older vehicles and industrial machinery still use R12, and these systems require periodic servicing. For instance, the automotive sector, which has many older models in use, heavily relies on R12 for air conditioning recharges. Additionally, refrigeration systems in both commercial and industrial sectors continue to operate with R12, especially in cases where the equipment is too expensive to replace.
Despite the regulatory challenges surrounding the continued use of R12, industries in South Korea find themselves needing a balance between environmental sustainability and operational efficiency. The transition to more eco-friendly refrigerants like R134a and R410A is encouraged, but it is often not immediately feasible for all sectors, particularly when budget constraints are considered. As a result, the demand for R12 refrigerants persists, albeit at a reduced level, as industries slowly upgrade or replace their outdated systems.
The South Korea R12 Refrigerant Market is also shaped by the availability of alternatives and the regulatory framework. Government policies surrounding the reduction of ozone-depleting substances have led to a gradual phase-out, but still, the market remains important in certain niches. Manufacturers and suppliers are focused on ensuring that the transition to new refrigerants does not compromise the effectiveness of existing systems, highlighting the need for training and knowledge sharing in the industry.
In summary, while the demand for R12 refrigerants in South Korea is dwindling due to environmental regulations, specific industries continue to require this refrigerant for the maintenance and servicing of older systems. As South Korea moves toward sustainable alternatives, the legacy of R12 persists, making it an integral part of the market for now.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea R12 Refrigerant Market
Residential HVAC
Commercial HVAC
Automotive Air Conditioning
Refrigeration Systems
Industrial Cooling Systems
Building and Construction
Automotive
Food and Beverage
Healthcare
Manufacturing
Pure R12 Refrigerant
Blended Refrigerants
Replacement Refrigerants
Direct Sales
Distributors
Online Sales
Retail Outlets
Environmentally Friendly Alternatives
Compliance with Refrigeration and Air Conditioning Standards
Crop Production and Agriculture Standards
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea R12 Refrigerant Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea R12 Refrigerant Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea R12 Refrigerant Market, By Type
6. South Korea R12 Refrigerant Market, By Application
7. South Korea R12 Refrigerant Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea R12 Refrigerant Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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