HFO-1234yf Market to Grow at a Massive 10.7% CAGR by 2031 | Honeywell, Chemours

QYResearch A newly published report titled "Global HFO-1234yf Market 2025 is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global HFO-1234yf market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of the global HFO-1234yf market. With qualitative and quantitative analysis, we help you with thorough and comprehensive research on the global HFO-1234yf market. We have also focused on SWOT, PESTLE, and Porter's Five Forces analyses of the global HFO-1234yf market.

The global HFO-1234yf market is projected to grow from US$ 1.57 billion in 2024 to US$ 3.29 million by 2031, at a CAGR of 10.7% (2025-2031), driven by critical product segments and diverse end‐use applications, while evolving U.S. tariff policies introduce trade‐cost volatility and supply‐chain uncertainty.

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In recent years, with the intensification of global climate warming and the advancement of environmental regulations, the fourth-generation refrigerant HFO-1234yf has gradually emerged. As a substitute for R134a, HFO-1234yf can not only be used in automobile air conditioners, but also widely used in refrigerator refrigeration, heat transfer media, foaming agents and other fields, demonstrating its broad application prospects.

HFO-1234yf, a refrigerant known for its low GWP (global warming potential) properties, is suitable for large stationary and commercial refrigeration equipment, such as automotive air conditioners and refrigerators. It belongs to the hydrofluoroolefin (HFO) class of refrigerants, providing a new choice for environmentally friendly refrigeration.

R134a is the most widely used automotive air-conditioning refrigerant. However, as environmental protection regulations become increasingly strict, starting from 2017, new models in Europe and the United States have gradually used HFO-1234yf refrigerant to replace R134a. Compared with HFC-134a, HFO-1234yf, as a single working fluid refrigerant, has excellent environmental parameters, with a GWP of only 4, an ODP of 0, and the climate performance during its life cycle is also lower than that of HFC-134a.

Global key manufacturers of HFO-1234yf include Honeywell, Chemours and others. The top two producers together account for more than 99% of the market share, with the largest producer being Honeywell with 57%. The global origins are mainly located in North America and China, and North America is the largest production region, with a share of 66%. In terms of product categories, automotive air conditioning has the largest market share, with a share of about 98%, while domestic refrigeration accounts for only 2%. In terms of applications, personal use is the top application area with a market share of 94%.

Featured Companies: -

Honeywell
Chemours

Companies are selected based on parameters such as: -

> Revenue generation
> Manufacturing facilities
> R&D investments
> Market share and innovation pipeline
> Geographical presence

Market Drivers:-

HFO-1234yf market drivers include a few key factors include growing consumer demand for the product, successful marketing tactics in new states, and large investments in product development. Easy access to competitors is one of the main issues facing the HFO-1234yf business. Another hurdle to the HFO-1234yf market is the low cost of substitutes. Businesses think they can get past this barrier, though, by controlling prices and introducing chemicals, specialty chemicals, polymers, metals, ceramics, composites, and advanced materials sector, which will increase consumer demand for their products. Furthermore, in order to minimise dangers, modify their plans, and continue operating, market participants must face substantial challenges. Consequently, companies will be able to effectively allocate their resources without compromising timely market supply or product quality.

HFO-1234yf Market Trends:

HFO-1234yf The pre- and post-period regulatory situation plays an important role in shaping market dynamics. As governments introduce and refine regulations governing the production, distribution, and sale of HFO-1234yf products, businesses must navigate complex compliance requirements to ensure lawful operations. Regulatory clarity and consistency are key factors that positively impact markets, providing certainty for businesses and giving people confidence in product safety and quality standards. Additionally, regulatory developments such as the approval of HFO-1234yf chemical and material products and the establishment HFO-1234yf of cultivation programs are opening up new opportunities for market expansion while setting standards for best practices in the industry.

Detailed of HFO-1234yf Market Segmentation: -

Segmentation By Type :-

Automotive Air Conditioning
Domestic Refrigeration

Segmentation By Application : -

Personal Use
Commercial
Others

Regional Insights -

United States

-Canada
-Mexico
-Brazil

APAC

-Japan
-South Korea
-China
-ASEAN
-India

EMEA

-Europe
-Middle East
-Africa

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Key Features Of The Study:-

ᗒ This report provides in-depth analysis of the global HFO-1234yf market, and provides market size (us$ million) and cagr for the forecast period (205-2031), considering 2023 as the base year.

ᗒ This report profiles key players in the global HFO-1234yf market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, HFO-1234yf sales data, market share and ranking.

ᗒ This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.

ᗒ This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.

ᗒ The global HFO-1234yf market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

Important questions answered in the report includes of:

ᗒ How will the market for the HFO-1234yf Market industry grow in 2025?

ᗒ Which well-known major companies will drive the market's growth?

ᗒ Which size of business held the biggest market share for data centre?

ᗒ What is the market's Compound Annual Growth Rate (CAGR) for the 2025-2031 forecast period?

ᗒ What is the primary factor driving the market's expansion?

ᗒ In the market, which region held the highest market share?

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