4 PRODUCTS & TECHNOLOGY TRENDS

Since the 28th Meeting of the Parties to the Montreal Protocol (MOP 28) in 2016 adopted an amendment to phase down the production and consumption of hydrofluorocarbons (HFCs) to 15% by 2036 in developed countries, the phase-down plan has been rapidly brought forward, particularly in Europe. The latest F-gas Regulation proposes a new plan to reduce HFCs by 98% by 2050. In addition, concerns about the use of fluorinated refrigerants have been raised. And the shift to natural refrigerants in the heating, ventilation, and air conditioning (HVAC) market is accelerating.