In 2016, the Kigali Amendment updated the Montreal Protocol to gain global commitment to the phasedown of HFCs. Developed countries, like the United States, will be required to begin reducing HFC production and import of HFCs in 2019. This reduction is expected to correlate to increased HFC prices, especially those with high GWP.
Are HFCs Headed Towards a Price Hike?
Retailers are experiencing the painful transition from R-22 as prices have doubled, or even tripled, with no end in sight. The question retailers need to consider next is whether the commitments made by the United States under the Kigali Amendment to the Montreal Protocol will drive similar price increases for R-404A and R-407A.