(MENAFN- EIN Presswire) EINPresswire/ -- HFO- 1234YF Market Growth Forecast: What To Expect By 2025?
In recent times, the et hfo-1234yf mark has experienced strong growth. Its size is projected to increase from $1.04 billion in 2024 to $1.14 billion in 2025, displaying a compound annual growth rate (CAGR) of 9.8%. Factors contributing to this growth in the past include environmental regulations under the EU Mac directive and the Montreal protocol, along with initiatives to phase out ozone-depleting substances. Moreover, sustainability commitments in the automotive sector, increasing consumer awareness, and the threat of supply chain disruptions have also contributed to this upward trend.

Anticipated to experience quick expansion in the coming years, the hfo-1234yf market is predicted to reach a market value of $1.71 billion by 2029, with a 10.7% compound annual growth rate. This projected growth during the forecast period is likely due to factors such as more stringent environmental legislations, increased consumer preference for eco-friendly products, governmental financial support and subsidy programs, emphasis on business sustainability, and global collaborations to meet environmental objectives. Key market trends for the forecast period include an emphasis on recycling and waste management, a move towards power-saving systems, bespoke application solutions, expansion into new markets, and research into future-generation refrigerants.

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What Are Key Factors Driving The Demand In The Global HFO- 1234YF Market?
The growth of the HFO 1234YF market is likely to be fuelled by the increasing usage of air conditioning technology. Air conditioning provides a system that controls temperature, humidity, airflow, and air purity to achieve a comfortable atmosphere within a vehicle cabin or room. As a primary cooling agent in these systems, HFO-1234YF is progressively replacing R-134a in air conditioners. In an example from September 2024, Modern Building Services, a British firm specialising in contemporary building-related matters, predicted a substantial expansion in Italy's air-cooling industry in the near future, with a yearly expansion rate of 6.96% from 2024 through 2029. Furthermore, they projected a 6.9% rise in air-cooling technology purchases in Italy for 2025. Thus, escalating usage of air conditioning is propelling the advancement of the HFO 1234YF market.

Who Are The Leading Players In The HFO- 1234YF Market?
Major players in the HFO- 1234YF 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.

What Are Some Emerging Trends In The HFO- 1234YF Market?
The emergence of product innovations is a significant trend observed in the HFO 1234YF market. Renowned corporations in this market are creating novel products and strategies to maintain their market stance. Take for instance the milestone achieved in April 2022, when Mitsubishi Heavy Industries Thermal Systems Ltd., a corporation in Japan known for its expertise in creating thermal and air conditioning systems, unveiled the constant-speed JHT-Y and its inverter-equipped counterpart, the JHT-YI. Both variants will employ a harmless HFO-1234yf refrigerant that poses a minimal threat to the environment. This new type of refrigerant, replacing the traditional versions, is favourable due to its significantly lower environmental footprint. Featuring this HFO-1234yf refrigerant free from CFCs is a line of large-capacity centrifugal chillers. The application of this HFO-1234yf refrigerant is expected to curtail greenhouse gas emissions and mitigate climate change impacts.

Analysis Of Major Segments Driving The HFO- 1234YF Market Growth
The hfo- 1234yfmarket covered in this report is segmented –

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

Subsegments:
1) By Automotive Air Conditioning: Passenger Vehicle Air Conditioning, Commercial Vehicle Air Conditioning, Electric Vehicle Air Conditioning
2) 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

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Which Region Is Expected To Lead The HFO- 1234YF Market By 2025?
In 2024, North America led the way as the biggest region in the HFO-1234YF market. Asia-Pacific is projected to take the crown as the quickest expanding region in the upcoming period. The market report for HFO-1234YF incorporates regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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