Global HFO-1234YF Market Size By Type (Automotive Air Conditioning, Domestic Refrigeration), By Application (Personal, Commercial), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Global HFO-1234YF Market Size By Type (Automotive Air Conditioning, Domestic Refrigeration), By Application (Personal, Commercial), By Geographic Scope And Forecast

HFO-1234YF Market Size And Forecast

HFO-1234YF Market size was valued at USD 5,951.73 Million in 2022 and is projected to reach USD 10,413.54 Million by 2030, growing at a CAGR of 8.32% from 2023 to 2030.

Due to the significant need for air conditioning systems in automobiles, the automotive industry has been a primary focus for HFO-1234yf. Automakers have been spending money on R&D to improve the effectiveness and performance of air conditioning systems employing HFO-1234yf, which is propelling market expansion. The Global HFO-1234YF Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Market Definition

Refrigeration is the process of transferring heat from items for cooling and freezing to maintain the environment’s temperature for comfort and preservation. The components that are used in refrigeration and air conditioning systems are called refrigerants.

Fluorinated propene (propylene) isomers with low GWP are among the fourth-generation refrigerants. HFOs, a novel family of fluorocarbon refrigerants, are currently the most likely successor. They will likely replace HFCs in many applications because of their extremely low global warming potential (GWP). The fourth-generation refrigerant HFO-1234yf (2, 3, 3, 3-tetrafluoropropene) has no Ozone Depletion Measurements.

Through comprehensive independent testing, including tests carried out by the Society of Automotive Engineers and crash tests carried out by automakers, HFO-1234yf has been proven to be safe for use in automobiles. The refrigerant of choice for automobile air conditioning today is HFO-1234yf.

Beyond vehicle air conditioning, HFO-1234yf has been developed for a number of uses. These consist of chillers, refrigerators, walk-in coolers, and supermarket cases. In general, only minor modifications to the compressor design are required to maximize the performance of HFO1234yf in these applications, therefore it once again offers significant advantages with simple implementation.

The HFO-1234yf has undergone comprehensive toxicity testing and has been confirmed to be safe for use in its intended applications, which places it in the lower segment of moderately flammable refrigerants.

What's inside a
industry report?

Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.

Market Overview

Due to the significant need for air conditioning systems in automobiles, the automotive industry has been a primary focus for HFO-1234yf. Automakers have been spending money on R&D to improve the effectiveness and performance of air conditioning systems employing HFO-1234yf, which is propelling market expansion. The effectiveness, performance, and affordability of HFO-1234yf have all been the subject of ongoing study and development. In order to maximize the advantages of HFO-1234yf in air conditioning systems, this also entails investigating fresh system layouts, lubricants, and parts. HFO-1234yf is actively produced and distributed by a number of businesses. These businesses include well-known chemical makers, producers of refrigerants, and suppliers to the car industry. The competitive environment is anticipated to change as market demand increases.

In comparison to some other refrigerants, HFO-1234yf may be more expensive. Its increased price may be influenced by elements like production costs, demand, and availability. Particularly in price-sensitive areas or industries, this cost concern could limit its wider adoption. Older air conditioning systems made for different refrigerants may not be compatible with HFO-1234yf. Modifications or component replacements may be necessary when retrofitting current systems to accept HFO-1234yf. This could make switching to HFO-1234yf more difficult and expensive, especially in applications or industries with considerable current infrastructure. HFO-1234yf usage is anticipated to increase further, especially in the automobile industry. HFO-1234yf is anticipated to replace other refrigerants as the go-to option for car air conditioning systems globally as more nations impose harsher limits on refrigerants with high global warming potential (GWP). Although HFO-1234yf is predominantly utilized in vehicle air conditioning, it can also be used in commercial refrigeration and HVAC (heating, ventilation, and air conditioning) systems. HFO-1234yf may be improved for various applications as research and development efforts go on, offering solutions that are both energy-efficient and environmentally friendly.

Global HFO-1234YF MarketSegmentation Analysis

The Global HFO-1234YF Market is segmented on the basis of Type, Application, And Geography.

HFO-1234YF Market, By Type

  • Automotive Air Conditioning
  • Domestic Refrigeration

To Get a Summarized Market Report By Type-

Based on the type segment, the market is divided into automotive air conditioning and domestic refrigeration. Due to the widespread use of HFO 1234yf in mobile air conditioning systems found in automobiles, the automotive air conditioning category is dominating the market. Refrigerants with a low global warming impact are becoming more important in the automotive sector as a result of environmental concerns. Compared to R134a’s 1430, the refrigerant R1234yf has a low global warming potential of 4. Future automobile refrigerants might benefit from this refrigerant’s good thermodynamic features, which are similar to each other. R134a could potentially be replaced by R1234yf in auto applications. The mobile air-conditioning (MAC) directive’s laws mandated that the vehicle air conditioning sector develop a new refrigerant with a low Global Warming Potential (GWP) of less than 150 in order to meet the emission standards. The GWP of other refrigerants, like R134a, is 1300. R1234yf has been chosen as the new standard refrigerant for new systems after years of rigorous research by the automotive sector to discover a replacement for R134a.

HFO-1234YF Market, By Application

  • Personal
  • Commercial

Based on the application segment, the market is split into personal and commercial. Due to the widespread usage of HFO-1234yf in agricultural tractors, forage harvesters, sprayers, skidders, trucks, and diggers, the commercial segment now holds dominating position in the market. The market is expanding as a result of globalization, which creates new prospects for the automotive sector.

HFO-1234YF Market, By Geography

  • Asia-Pacific
  • North America
  • Europe
  • Latin America
  • Middle East and Africa

To Get a Summarized Market Report By Geography- 

Based on geography

the global HFO-1234YF market is into different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is bifurcated into United States, Canada and Mexico. Europe is primarily divided into Germany, U.K., France, Italy, Spain, and Rest of Europe. Asia Pacific comprises of China, Japan, India, and Rest of Asia Pacific. Middle East and Africa includes UAE, Saudi Arabia, South Africa and Rest of Middle East and Africa. Latin America comprises of countries such as Brazil, Argentina, and Rest of Latin America.

The increasing demand and attention given to the fourth-generation refrigerant HFO-1234yf in the European region due to international environmental regulations and policies aimed at reducing the greenhouse effect of hydrofluorocarbons. HFO-1234yf, characterized as a new generation of refrigerants with zero ozone potential, mild flammability, and low global warming potential, has gained prominence in Europe due to strict environmental regulations and business initiatives. It has replaced HFC-134a in automotive refrigerants and is used in various refrigeration units. The consumption of HFO-1234yf in Europe is influenced by the F-Gas Regulation and the MAC directive, which regulate the use and emissions of F-gases, including those in mobile air conditioning systems. HFO-1234yf is widely used in new passenger cars and has gained popularity in residential refrigeration due to its energy efficiency, reduced environmental impact, and regulatory compliance. The paragraph highlights the anticipation of increased demand as customers become more aware of the environmental advantages and energy savings associated with HFO-1234yf-based appliances.

Key Players

The major players in the market are Honeywell International, Inc., J&H CHEM Co., Ltd., Chemours, Hunan Jiahang Pharmaceutical Technology Co., Ltd, Daikin Industries, Ltd., Apollo Scientific Ltd., Zhejiang Huanxin Fluoro Material Co.,Ltd., Chemwill Asia Co., Ltd., Quanzhou Yuji New Material Technology Co., Ltd., and Others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

  • With effect from January 2020, Daikin Industries, Ltd. began selling Creard R-448A (R-448A) in Japan. R-448A will be marketed as an alternative refrigerant to R-404A, which is often used in commercial and industrial refrigeration and has a GWP that is more than 64% lower.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2019-2030

BASE YEAR

2022

FORECAST PERIOD

2023-2030

HISTORICAL PERIOD

2019-2021

UNIT

Value (USD Million)

KEY COMPANIES PROFILED

Honeywell International, Inc., J&H CHEM Co., Ltd., Chemours, Hunan Jiahang Pharmaceutical Technology Co., Ltd, Daikin Industries, Ltd., Apollo Scientific Ltd., & Others

SEGMENTS COVERED

Type, Application, And Geography.

CUSTOMIZATION SCOPE

Free report customization (equivalent up to 4 analyst’s working days)  with purchase. Addition or alteration to country, regional & segment scope

To Get Customized Report Scope- 

Top Trending Reports

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any  please connect with our sales team, who will ensure that your requirements are met.

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email