Referring to projected rates, the report says the northern hemisphere and mid-latitude ozone is "scheduled to heal completely by the 2030s followed by the southern hemisphere in the 2050s and polar regions by 2060". The worldwide agreement compelled the global community to begin the phasing out of ozone-depleting substances like chlorofluorocarbons (CFCs), hydrochlorofluorocarbons (HCFCs), and halons.
A fragile shield of gas around the planet, the ozone layer protects animal and plant life from the powerful ultraviolet (UV) rays of the sun. "Most potential is in increasing the energy efficiency of these appliances as 80% of the emissions are due to the use of electricity and 20% due to the release of the refrigerants", said Chandra Bhushan, deputy director general of the Centre for Science and Environment (CSE).
The researchers put the restrengthening of the ozone layer down to the 1987 Montreal Protocol which was an global treaty that banned chemicals such as chlorofluorocarbons (CFCs) which were found to be weakening the atmospheric layer.
"It's really good news", said report co-chairman Paul Newman, chief Earth scientist at Nasa's Goddard Space Flight Centre.More news: 'Breaking Bad' movie in the works by Vince Gilligan
The chlorofluorocarbons (CFCs) effectively began eating away at the ozone.
An worldwide agreement called the Montreal Protocol made sure that businesses came up with replacements for these damaging products. The 2018 edition shows that ozone levels in sections of the stratosphere have been recovering at rates of 1-3 percent since 2000.
The report also said it was the first time the hole in the ozone layer had shrunk in both size and depth and size since 2000.
This year, the ozone hole over the South Pole peaked at almost 9.6 million square miles (24.8 million square kilometers).
"We are only at a point where recovery may have started", he said, pointing to some areas of the ozone that haven't repaired.More news: Women chirpiest in the morning less likely to develop breast cancer
Another problem is that new technology has found an increase in emissions of a banned CFC out of East Asia, the report noted.
And the replacements now being used to cool cars and refrigerators need to be replaced themselves with chemicals that don't worsen global warming, Newman said.
On its own, the ozone hole has slightly shielded Antarctica from the much larger effects of global warming - it has heated up but not as much as it likely would without ozone depletion, said Ross Salawitch, a University of Maryland atmospheric scientist who co-authored the report.
Durwood Zaelke, president of the Institute for Governance and Sustainable Development, said: "Over the last three decades, the Montreal protocol has fulfilled its original objective to heal the ozone layer".More news: Meet the AMD Radeon Instinct MI60 and MI50 accelerators