The global HFO-1234yf market was valued at 455.29 Million USD in 2021 and will grow with a CAGR of 5.97% from 2021 to 2027, based on HNY Research newly published report.

The prime objective of this report is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

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 2017.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 2017. 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 2017 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 world`s 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.

By Market Verdors:

Honeywell

Chemours

By Types:

Automotive Air Conditioning

Domestic Refrigeration

By Applications:

Personal

Commerical

Key Indicators Analysed

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market’s competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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