The HFO- 1234yf market size has grown rapidly in recent years. It will grow from $1.04 billion in 2024 to $1.16 billion in 2025 at a compound annual growth rate (CAGR) of 11.3%. 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.
The HFO- 1234yf market size is expected to see rapid growth in the next few years. It will grow to $1.77 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to stricter environmental regulations, rising consumer demand for sustainable products, governmental incentives and subsidies, focus on corporate sustainability initiatives, and international collaborations for environmental goals. Major trends in the forecast period include a focus on waste management and recycling, a shift towards energy-efficient systems, customized application solutions, adoption in emerging markets, and research for next-generation refrigerants.
The increasing adoption of air conditioning is anticipated to drive the growth of the HFO 1234YF market in the future. Air conditioning involves cooling and conditioning the air within a cabin or room to create a comfortable environment for its occupants. This system is designed to manage temperature, humidity, airflow, and air quality inside vehicles. HFO-1234YF is primarily utilized as a refrigerant in air conditioning systems, serving as a replacement for R-134a. For example, in September 2024, Modern Building Services, a UK-based company focused on modern building services topics, reported that the Italian air-cooling sector is projected to grow significantly in the coming years, with an annual growth rate of 6.96% from 2024 to 2029. Furthermore, a 6.9% increase in the volume of air-cooling technology purchases in Italy is expected in 2025. Thus, the rising use of air conditioning is propelling the growth of the HFO 1234YF market.
The growing focus on energy efficiency is expected to be a significant catalyst for the continued expansion of the HFO-1234YF market. Energy efficiency revolves around achieving optimal results or task completion with minimal energy consumption. The adoption of HFO-1234yf offers a myriad of advantages, including enhanced energy efficiency, diminished environmental impact, low global warming potential, and ozone depletion potential. Moreover, it exhibits favorable heat transfer properties, aligning with overarching sustainability objectives. Notably, in December 2022, the European Union established ambitious targets to boost energy efficiency, targeting a minimum 32.5% improvement by 2030, as reported by Eurostat, the EU-based statistical office. This growing demand for energy-efficient solutions stands as a pivotal driver fueling the expansion of the HFO-1234YF market.
Prominent in the HFO 1234YF market is the trend of product innovation, where major industry players actively engage in developing novel solutions to fortify their market positions. In April 2022, Mitsubishi Heavy Industries Thermal Systems Ltd., a leading Japanese company specializing in thermal and air conditioning systems, introduced the constant-speed JHT-Y and the inverter-equipped JHT-YI. Both versions utilize a CFC-free HFO-1234yf refrigerant with minimal environmental impact, serving as an environmentally friendly alternative to traditional refrigerants. This line of large-capacity centrifugal chillers, employing HFO-1234yf, is poised to reduce greenhouse gas emissions and mitigate the impact of climate change.
Major companies are strategically focusing on advanced solutions with lower global-warming-potential (GWP) to gain a competitive edge. In January 2022, Koura, a prominent Mexico-based petrochemical company, introduced the Klea 456A refrigerant. This non-flammable refrigerant boasts a GWP of 626, representing a 46% reduction compared to R-134a. Positioned as a drop-in replacement for R-134a in the automotive aftermarket industry, Klea 456A offers an environmentally friendly alternative with comparable energy efficiency. This innovation underscores the industry's commitment to sustainability by providing a solution that aligns with lower GWP standards while maintaining operational efficiency.
In May 2022, Honeywell International, a well-established US-based manufacturer specializing in HFO-1234YF, established a strategic alliance with NIO Inc., a leading Chinese automotive company. The collaboration aims to outfit NIO's flagship ET7 sedan with HFO-1234YF refrigerant, showcasing NIO's pioneering adoption of this environmentally friendly hydrofluoroolefin (HFO) refrigerant within the Chinese automotive industry. This partnership allows Honeywell International Inc. to provide the state-of-the-art ET7 model with the high-performance, low-GWP HFO-1234yf refrigerant, underscoring a shared commitment to sustainable automotive technologies.
Major companies operating in the HFO- 1234YF market include Honeywell International Inc., The Chemours Company, E. I. du Pont de Nemours and Company, Asahi Glass Co Ltd., SRF Ltd., The Lubrizol Corp, The Messer Group GmbH, Emerson, AGC Chemicals, Zhejiang Juhua Co Ltd, Shanghai 3F New Material Co Ltd., Linde PLC, Navin Fluorine International Limited, Daikin Industries Ltd., Rhodia Chemicals Ltd., 3M, Quanzhou Yuji New Material Technology Co Ltd., Mexichem Fluor Inc., Arkema, Wurth USA, National Refrigerants Ltd., Hunan Jiahang Chemical Industry Co. Ltd., J&H CHEM Co. Ltd, Solvay SA.
North America was the largest region in the HFO-1234YF market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hfo- 1234yf market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hfo- 1234yf market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The refrigerant HFO-1234YF represents a hydrofluoroolefin variety intended as a low-global warming potential (GWP) solution, offering an environmentally friendly alternative to previous refrigerants such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), which have higher GWPs and contribute significantly to climate change. Recognized for its energy efficiency, it is utilized in R134a-compatible systems with minimal adjustments.
HFO 1234YF is categorized into automotive air conditioning, domestic refrigeration, industrial refrigeration, and stationary air conditioning. Automotive air conditioning pertains to the cooling and conditioning of a vehicle's cabin air to ensure a comfortable environment for its occupants. It consists of essential components such as cylinders, valves, and refrigerant hoses, distributed through various sales channels such as OEM (original equipment manufacturer) and the aftermarket. These applications cater to diverse needs, including personal and commercial purposes.
The HFO 1234YF market research report is one of a series of new reports that provides HFO 1234YF market statistics, including HFO 1234YF industry global market size, regional shares, competitors with a HFO 1234YF market share, detailed HFO 1234YF market segments, market trends and opportunities, and any further data you may need to thrive in the HFO 1234YF industry. This HFO 1234YF market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The HFO 1234YF market consists of sales of hydrogen, fluorine, and carbon atoms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The HFO- 1234yf market size is expected to see rapid growth in the next few years. It will grow to $1.77 billion in 2029 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to stricter environmental regulations, rising consumer demand for sustainable products, governmental incentives and subsidies, focus on corporate sustainability initiatives, and international collaborations for environmental goals. Major trends in the forecast period include a focus on waste management and recycling, a shift towards energy-efficient systems, customized application solutions, adoption in emerging markets, and research for next-generation refrigerants.
The increasing adoption of air conditioning is anticipated to drive the growth of the HFO 1234YF market in the future. Air conditioning involves cooling and conditioning the air within a cabin or room to create a comfortable environment for its occupants. This system is designed to manage temperature, humidity, airflow, and air quality inside vehicles. HFO-1234YF is primarily utilized as a refrigerant in air conditioning systems, serving as a replacement for R-134a. For example, in September 2024, Modern Building Services, a UK-based company focused on modern building services topics, reported that the Italian air-cooling sector is projected to grow significantly in the coming years, with an annual growth rate of 6.96% from 2024 to 2029. Furthermore, a 6.9% increase in the volume of air-cooling technology purchases in Italy is expected in 2025. Thus, the rising use of air conditioning is propelling the growth of the HFO 1234YF market.
The growing focus on energy efficiency is expected to be a significant catalyst for the continued expansion of the HFO-1234YF market. Energy efficiency revolves around achieving optimal results or task completion with minimal energy consumption. The adoption of HFO-1234yf offers a myriad of advantages, including enhanced energy efficiency, diminished environmental impact, low global warming potential, and ozone depletion potential. Moreover, it exhibits favorable heat transfer properties, aligning with overarching sustainability objectives. Notably, in December 2022, the European Union established ambitious targets to boost energy efficiency, targeting a minimum 32.5% improvement by 2030, as reported by Eurostat, the EU-based statistical office. This growing demand for energy-efficient solutions stands as a pivotal driver fueling the expansion of the HFO-1234YF market.
Prominent in the HFO 1234YF market is the trend of product innovation, where major industry players actively engage in developing novel solutions to fortify their market positions. In April 2022, Mitsubishi Heavy Industries Thermal Systems Ltd., a leading Japanese company specializing in thermal and air conditioning systems, introduced the constant-speed JHT-Y and the inverter-equipped JHT-YI. Both versions utilize a CFC-free HFO-1234yf refrigerant with minimal environmental impact, serving as an environmentally friendly alternative to traditional refrigerants. This line of large-capacity centrifugal chillers, employing HFO-1234yf, is poised to reduce greenhouse gas emissions and mitigate the impact of climate change.
Major companies are strategically focusing on advanced solutions with lower global-warming-potential (GWP) to gain a competitive edge. In January 2022, Koura, a prominent Mexico-based petrochemical company, introduced the Klea 456A refrigerant. This non-flammable refrigerant boasts a GWP of 626, representing a 46% reduction compared to R-134a. Positioned as a drop-in replacement for R-134a in the automotive aftermarket industry, Klea 456A offers an environmentally friendly alternative with comparable energy efficiency. This innovation underscores the industry's commitment to sustainability by providing a solution that aligns with lower GWP standards while maintaining operational efficiency.
In May 2022, Honeywell International, a well-established US-based manufacturer specializing in HFO-1234YF, established a strategic alliance with NIO Inc., a leading Chinese automotive company. The collaboration aims to outfit NIO's flagship ET7 sedan with HFO-1234YF refrigerant, showcasing NIO's pioneering adoption of this environmentally friendly hydrofluoroolefin (HFO) refrigerant within the Chinese automotive industry. This partnership allows Honeywell International Inc. to provide the state-of-the-art ET7 model with the high-performance, low-GWP HFO-1234yf refrigerant, underscoring a shared commitment to sustainable automotive technologies.
Major companies operating in the HFO- 1234YF market include Honeywell International Inc., The Chemours Company, E. I. du Pont de Nemours and Company, Asahi Glass Co Ltd., SRF Ltd., The Lubrizol Corp, The Messer Group GmbH, Emerson, AGC Chemicals, Zhejiang Juhua Co Ltd, Shanghai 3F New Material Co Ltd., Linde PLC, Navin Fluorine International Limited, Daikin Industries Ltd., Rhodia Chemicals Ltd., 3M, Quanzhou Yuji New Material Technology Co Ltd., Mexichem Fluor Inc., Arkema, Wurth USA, National Refrigerants Ltd., Hunan Jiahang Chemical Industry Co. Ltd., J&H CHEM Co. Ltd, Solvay SA.
North America was the largest region in the HFO-1234YF market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hfo- 1234yf market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hfo- 1234yf market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The refrigerant HFO-1234YF represents a hydrofluoroolefin variety intended as a low-global warming potential (GWP) solution, offering an environmentally friendly alternative to previous refrigerants such as hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), which have higher GWPs and contribute significantly to climate change. Recognized for its energy efficiency, it is utilized in R134a-compatible systems with minimal adjustments.
HFO 1234YF is categorized into automotive air conditioning, domestic refrigeration, industrial refrigeration, and stationary air conditioning. Automotive air conditioning pertains to the cooling and conditioning of a vehicle's cabin air to ensure a comfortable environment for its occupants. It consists of essential components such as cylinders, valves, and refrigerant hoses, distributed through various sales channels such as OEM (original equipment manufacturer) and the aftermarket. These applications cater to diverse needs, including personal and commercial purposes.
The HFO 1234YF market research report is one of a series of new reports that provides HFO 1234YF market statistics, including HFO 1234YF industry global market size, regional shares, competitors with a HFO 1234YF market share, detailed HFO 1234YF market segments, market trends and opportunities, and any further data you may need to thrive in the HFO 1234YF industry. This HFO 1234YF market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The HFO 1234YF market consists of sales of hydrogen, fluorine, and carbon atoms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. HFO- 1234YF Market Characteristics3. HFO- 1234YF Market Trends and Strategies4. HFO- 1234YF Market - Macro Economic Scenario including the impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global HFO- 1234YF Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the HFO- 1234YF Market34. Recent Developments in the HFO- 1234YF Market
5. Global HFO- 1234YF Growth Analysis and Strategic Analysis Framework
6. HFO- 1234YF Market Segmentation
7. HFO- 1234YF Market Regional and Country Analysis
8. Asia-Pacific HFO- 1234YF Market
9. China HFO- 1234YF Market
10. India HFO- 1234YF Market
11. Japan HFO- 1234YF Market
12. Australia HFO- 1234YF Market
13. Indonesia HFO- 1234YF Market
14. South Korea HFO- 1234YF Market
15. Western Europe HFO- 1234YF Market
16. UK HFO- 1234YF Market
17. Germany HFO- 1234YF Market
18. France HFO- 1234YF Market
19. Italy HFO- 1234YF Market
20. Spain HFO- 1234YF Market
21. Eastern Europe HFO- 1234YF Market
22. Russia HFO- 1234YF Market
23. North America HFO- 1234YF Market
24. USA HFO- 1234YF Market
25. Canada HFO- 1234YF Market
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
31. HFO- 1234YF Market Other Major and Innovative Companies
35. HFO- 1234YF Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
HFO- 1234YF Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on hfo- 1234yf market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for hfo- 1234yf? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hfo- 1234yf market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Automotive Air Conditioning; Domestic Refrigeration; Industrial Refrigeration; Stationary Air Conditioning2) By Component: Cylinders; Valves; Refrigerant Hose
3) By Sales Channel: OEM (Original Equipment Manufacturers); Aftermarket
4) By Application: Personal; Commercial; Other Applications
Subsegments:
1) By Automotive Air Conditioning: Passenger Vehicle Air Conditioning; Commercial Vehicle Air Conditioning; Electric Vehicle Air Conditioning2) By Domestic Refrigeration: Household Refrigerators; Freezers; Residential Cooling Systems
3) By Industrial Refrigeration: Cold Storage Facilities; Food Processing Refrigeration; Industrial Freezers and Chillers
4) By Stationary Air Conditioning: Commercial Building Air Conditioning; Residential Central Air Conditioning; HVAC Systems For Industrial Use
Key Companies Mentioned: Honeywell International Inc.; the Chemours Company; E. I. du Pont de Nemours and Company; Asahi Glass Co Ltd.; SRF Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Honeywell International Inc.
- The Chemours Company
- E. I. du Pont de Nemours and Company
- Asahi Glass Co Ltd.
- SRF Ltd.
- The Lubrizol Corp
- The Messer Group GmbH
- Emerson
- AGC Chemicals
- Zhejiang Juhua Co Ltd
- Shanghai 3F New Material Co Ltd.
- Linde PLC
- Navin Fluorine International Limited
- Daikin Industries Ltd.
- Rhodia Chemicals Ltd.
- 3M
- Quanzhou Yuji New Material Technology Co Ltd.
- Mexichem Fluor Inc.
- Arkema
- Wurth USA
- National Refrigerants Ltd.
- Hunan Jiahang Chemical Industry Co. Ltd.
- J&H CHEM Co. Ltd
- Solvay SA.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 1.16 Billion |
| Forecasted Market Value ( USD | $ 1.77 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 24 |
