The US fluorocarbon using and producing industries contribute more than $158 billion annually in goods and services to the US economy and provide employment to more than 700,000 individuals with an industry-wide payroll of more than $32 billion.
Fluorocarbon producing industries in the US have spent nearly $500 million on research and development of HFC alternatives to date and project an additional $500 million in R&D spending through 2025.
It is estimated that these industries will make capital investment through 2025 of about $1.5 billion in order to manufacture HFC alternatives.
In 1989, the year the Montreal Protocol went into effect, 30 percent of US households had central air-conditioning, a key industry sector. By 2014, this figure increased to 70 percent. Globally, the value of the HVAC market grew from $20 billion in 1989 to $70 billion in 2016.