HFO-1234yf Market Size By Regional Analysis(Europe, Asia Pacific, America, Middle East And Africa), By Demand & COVID-19 Impact Analysis, By Type, By Applications And Forecasts 2023 - 2030
Report Overview
The market research report is created with a compilation of analytical research based on historic records, current statistics, and future predictions. The report contains details on the leading players operating in the HFO-1234yf market including various factors related to and dependent influencing the market growth.
HFO-1234yf has cooling properties that are similar to R134a, which has been used as an automotive refrigerant. HFO-1234yf, has a global-warming potential (GWP) four times lower than previously calculated – below that of carbon dioxide. Europe regulations call for low-GWP refrigerant in all new vehicles in 2020.
HFC-1234yf is a refrigerant with zero ozone layer depletion and very low global warming potential (GWP). Europe regulations call for low-GWP refrigerant in all new vehicles in 2020. In 2016, the global HFO-1234yf consumption market is led by Europe, capturing about 61.89% of global HFO-1234yf sales. The U.S. EPA greenhouse gas regulation set standards based on a presumed across-the-board conversion between 2020 and 2022. North America is the second-largest region-wise market with 27.41% global consumption share in 2016.
Honeywell and DuPont have actually used to produce R-1234yf at industrial scale. R-1234yf is the ideal substitutes for R134a refrigerant. DuPont has completed the separation of its Performance Chemicals segment through the spin-off of The Chemours Company (Chemours). Now Chemours is in charge of HFC-1234yf business.
HFC-1234yf is monopoly by Honeywell and Chemours. They licensed its proprietary process technologies to produce the HFC-1234yf to manufacturers in China, Japan. Such as, China Juhua will make Solstice yf in China for Honeywell, which in turn will market and sell the refrigerant to customers in Europe and USA.
In global market, Honeywell is the global leader, which has started commercial operations at its new manufacturing plant in Geismar, La., to meet the growing global demand for its next-generation mobile air conditioning refrigerant. With this start-up, the plant has become the worlds largest site for producing HFO-1234yf, sold commercially as Solstice® yf.
The production of HFO-1234yf increases from 3950 MT in 2012 to 10571 MT in 2016, at a CAGR of more than 27.90%. Honeywell is the world leader, holding 54.61% production market share and Chemours holding about 45.39% in 2016.
In application, HFO-1234yf downstream is wide and recently HFO-1234yf has acquired increasing significance in various fields of automotive air conditioning and domestic refrigeration. Globally, the HFO-1234yf market is mainly driven by growing demand for automotive air conditioning which accounts for nearly 98.38% of total downstream consumption of HFO-1234yf in global.
In the future, global market is expected to witness significant growth on account of rising applications, so in the next few years, HFO-1234yf production will show a trend of steady growth. In 2023 the production of HFO-1234yf is estimated to be 33966 MT.
Global HFO-1234yf market size will increase to 7100 Million US$ by 2030, from 4490 Million US$ in 2020, at a CAGR of 5.9% during the forecast period. In this study, 2023 has been considered as the base year and 2023 to 2030 as the forecast period to estimate the market size for HFO-1234yf.
The report is prepared using analytical methods such as SWOT (strengths, weaknesses, opportunities, and threats)) analysis, PESTEL Analysis, Porter\'s Five Force Analysis, and value chain analysis. These methods provide a clear view of the market structure and analyze competition at a global level. They also provide detailed information on each segment in the global HFO-1234yf market.
The aim of the report is to interpret the market sizes of various segments and countries for the forecast period. The study includes the qualitative and quantitative analysis of the market. The report analyses the HFO-1234yf market on a regional and global level with a deep analysis of macro-and micro-economic factors impacting the growth of the market. This report also includes market information related to the latest industry trends, market developments, and analysis of products and end users contributing to market growth. An in-depth study of the current market scenario, major driving factors, and restraining factors for the market are also included in the report.
The HFO-1234yf market report includes information related to market segmentation, market size and revenue forecasts, and regional forecasts along with information about the leading market players operating in the market, company revenue shares and, their recent developments. The market is classified regionally on country-level into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Scope of the HFO-1234yf Market:
The major competitors working in the market are:
, Honeywell, Chemours
Market by Order Type
Automotive Air Conditioning
Domestic Refrigeration
HFO-1234yf Data by Application
Personal
Commerical
HFO-1234yf Production Regions Covered in the Report are:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Rest of the World
The information about the HFO-1234yf market is obtained from several sources such as company websites, journals, annual reports, which were then assessed and verified by the industry experts. The information is represented in the form of diagrams, charts, pie charts, and infographics, which helps in a better understanding of the market.
Objectives of HFO-1234yf Market Report:
- To analyze the factors driving the market growth including supply chain analysis, price analysis along with other analytical methods
- To provide an in-depth analysis of the HFO-1234yf market with information on various segment and sub-segments
- To provide a regional analysis and global analysis for the HFO-1234yf market size and their forecasts
- To provide strategic profiles of the key players operating in the HFO-1234yf market, their key competencies, and market competition
- To provide a competitive scenario about the key factors driving, restraining, and challenging the market growth.
- The impact of COVID-19 pandemic on the HFO-1234yf market
Target Audiences for HFO-1234yf Market:
- Investors
- Investment Bankers
- Key Consulting Companies and Advisors
- Venture Capitalists
- Large, Medium-sized, and Small enterprises
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