The Business Research Company’s HFO- 1234YF Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The HFO- 1234YF Global Market Report 2023 evaluates HFO- 1234YF market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global HFO 1234YF market is expected to grow from $0.84 billion in 2022 to $0.94 billion in 2023 at a compound annual growth rate (CAGR) of 11.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The HFO 1234YF market is expected to reach $1.43 billion in 2027 at a CAGR of 11.1%.
The rise in use of air conditioning is expected to propel the growth of the HFO 1234YF market going forward. Air conditioning refers to the cooling and conditioning of the air inside a cabin or room to create a comfortable and pleasant environment for the occupants. It is a system designed to regulate temperature, humidity, airflow, and air quality within the vehicle. HFO-1234YF is primarily used as a refrigerant in air conditioning systems. It is being used as a replacement for R-134a as a refrigerant in air conditioners. For instance, in January 2022, according to a report published by LG Electronics, the LG Home Appliance and Air Solution segment had a record-breaking year in 2021, with revenues of KRW 27.11 trillion (USD 22.92 billion), a 21.7% rise over the previous year. Therefore, the rise in the use of automotive air conditioning is driving the growth of the HFO 1234YF market
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The HFO- 1234YF market segments in the report are:
1) By Type: Automotive Air Conditioning, Domestic Refrigeration, Industrial Refrigeration, Stationary Air Conditioning
2) By Component: Cylinders, Valves, Refrigerant Hose
3) By Sales Channel: OEM (Original Equipment Manufacturers), Aftermarket
4) By Application: Personal, Commercial, Other Applications
The table of contents in TBRC’s HFO- 1234YF market report includes:
1. Executive Summary
2. HFO- 1234YF Market Characteristics
3. HFO- 1234YF Market Trends And Strategies
4. HFO- 1234YF Market – Macro Economic Scenario
5. HFO- 1234YF Market Segmentation
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26. South America HFO- 1234YF Market
27. Brazil HFO- 1234YF Market
28. Middle East HFO- 1234YF Market
29. Africa HFO- 1234YF Market
30. HFO- 1234YF Market Competitive Landscape And Company Profiles
Top Major Players:
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