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HFO- 1234YF Market Size, Share, Trends, Research, Industry Analysis And Forecast 2023-2032
HFO- 1234YF Market Report
The Business Research Company's HFO- 1234YF Global Market Report 2023 identifies the rise in use of air conditioning as the major driver for the HFO- 1234YF market's growth in the forecast period. 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.
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%.
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Major competitors in the HFO- 1234YF market are Honeywell International Inc., The Chemours Company, E. I. du Pont de Nemours and Company, Asahi Glass Co Ltd., SRF Ltd.,
A key trend in the HFO- 1234YF market includes technological advancement. Major companies operating in the HFO 1234YF market are adopting new technologies and solutions to sustain their position in the market. For instance, in October 2020, Emerson Electric Co., a US-based automation company, launched new Copeland scroll compressors for various A2L-classified low GWP (global warming potential) refrigerants, including R1234YF. The new YB and YBD compressor families were developed to be the most dependable compressors for refrigerants with a greater HFO (hydrofluoroolefin) content. It was internally and externally optimized for F-Gas-compatible low-GWP A2L refrigerants, such as R455A, R454A, R454C, and R1234YF. It provides fully hermetic and dependable scroll technology to eliminate any possibility of A2L refrigerant leakage.
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The HFO- 1234YF market is segmented -
•By Type: Automotive Air Conditioning, Domestic Refrigeration, Industrial Refrigeration, Stationary Air Conditioning
•By Component: Cylinders, Valves, Refrigerant Hose
•By Sales Channel: OEM (Original Equipment Manufacturers), Aftermarket
•By Application: Personal, Commercial, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the HFO- 1234YF market.
The Business Research Company's "Global HFO- 1234YF Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The HFO- 1234YF Market Include:
1. Executive Summary
2. HFO- 1234YF Market Characteristics
3. HFO- 1234YF Market Trends And Strategies
4. HFO- 1234YF Market - Macro Economic Scenario
5. Global HFO- 1234YF Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global HFO- 1234YF Market Competitive Benchmarking
33. Global HFO- 1234YF Market Competitive Dashboard
34. Key Mergers And Acquisitions In The HFO- 1234YF Market
35. HFO- 1234YF Market Future Outlook and Potential Analysis
36. Appendix
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