HFO- 1234YF Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ -- The global HFO-1234yf market is projected to grow from $0.94 billion in 2023 to $1.05 billion in 2024, at a compound annual growth rate (CAGR) of 12.0%. It will grow to $1.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to environmental regulations (EU Mac directive), the Montreal protocol and phase-out of ozone-depleting substances, the automotive industry's sustainability commitments, growing consumer awareness, and risk of supply chain disruptions.

Rising Use of Air Conditioning Drives Market Growth
The rise in the use of air conditioning systems, primarily in automotive and residential sectors, is a significant driver for the HFO-1234yf market. These systems require refrigerants with lower global warming potentials (GWPs) to comply with stringent environmental regulations and enhance energy efficiency.

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Key Players and Market Trends

Major players such as Honeywell International Inc., The Chemours Company, and E. I. du Pont de Nemours and Company are focusing on developing advanced solutions with lower GWPs. For instance, Koura's launch of the Klea 456A refrigerant demonstrates the industry's shift towards more environmentally friendly alternatives.

Segments
• Type: Automotive Air Conditioning, Domestic Refrigeration, Industrial Refrigeration, Stationary Air Conditioning
• Component: Cylinders, Valves, Refrigerant Hose
• Sales Channel: OEM (Original Equipment Manufacturers), Aftermarket
• Application: Personal, Commercial, Other Applications
Geographical Insights: Asia-Pacific Leading the Market

North America dominated the HFO-1234yf market in 2023, with Asia-Pacific expected to witness the fastest growth during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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HFO- 1234YF Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The HFO- 1234YF Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on HFO- 1234YF market size, HFO- 1234YF market drivers and trends, HFO- 1234YF market major players, competitors' revenues, market positioning, and market growth across geographies. The HFO- 1234YF market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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