HFO- 1234YF Market Report 2026

The hfo- 1234yf market size has grown rapidly in recent years. It will grow from $1.14 billion in 2025 to $1.26 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to phase out of ozone depleting refrigerants, automotive air conditioning expansion, regulatory pressure on HFC usage, growth in vehicle production, demand for efficient cooling systems.

The hfo- 1234yf market size is expected to see rapid growth in the next few years. It will grow to $1.92 billion in 2030 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to stricter climate regulations, electric vehicle air conditioning growth, expansion of cold chain infrastructure, refrigerant recycling initiatives, demand for low emission HVAC systems. Major trends in the forecast period include adoption of low GWP refrigerants, transition from HFC based cooling systems, expansion of automotive air conditioning demand, growth in energy efficient cooling technologies, standardization of refrigerant safety regulations.

The rise in air conditioning usage is expected to drive the growth of the HFO 1234YF market going forward. Air conditioning involves cooling and regulating the air inside a cabin or room to provide a comfortable environment for occupants. It is a system designed to control temperature, humidity, airflow, and air quality within the vehicle. HFO-1234YF is mainly used as a refrigerant in air conditioning systems, serving as a replacement for R-134a. For instance, in June 2025, according to the Japan Refrigeration and Air Conditioning Industry Association (JRAIA), a Japan-based industry association, global air conditioner demand reached 123.93 million units (~123.9 million) in 2023 and is projected to rise to 131.63 million units (~131.6 million) in 2024, marking a 6% increase over the previous year. Therefore, the growing use of air conditioning is boosting the HFO 1234YF market.

The increasing focus on energy efficiency is expected to drive the growth of the HFO 1234YF market going forward. Energy efficiency refers to using less energy to accomplish a task or achieve a desired outcome. HFO-1234yf adoption offers multiple benefits, including improved energy efficiency, reduced environmental impact, low global warming potential, minimal ozone depletion potential, effective heat transfer properties, support for long-term sustainability, and responsible resource use. For instance, in March 2024, according to the Department for Energy Security and Net Zero, a UK-based government department, ECO remained the largest energy efficiency scheme. In 2023, measures implemented under ECO accounted for 83% of all installations. That year, ECO executed 265,000 measures, representing a 61% increase compared to 2022, as the rollout of ECO4 expanded after its launch in April 2022 following the conclusion of ECO3. Therefore, the rising demand for energy efficiency is contributing to the growth of the HFO 1234YF market.

In May 2025, Arkema S.A., a France-based specialty chemicals and refrigerant solutions provider, partnered with Honeywell International Inc. to increase access to lower global warming potential (GWP) refrigerants. Through this collaboration, Arkema and Honeywell aim to strengthen supply chains and meet the growing demand for HFO blends in the HVACR industry. Honeywell International Inc., a US-based multinational, supplies specialty chemicals, materials, and HFO refrigerants for energy-efficient heating, ventilation, air conditioning, and refrigeration applications.

Major companies operating in the hfo- 1234yf market report 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 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hfo- 1234yf market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hfo- 1234yf market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

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