About Hydrofluoroolefins (HFOs)
Hydrofluoroolefins (HFOs) are unsaturated organic compounds composed of hydrogen, fluorine and carbon which are used as refrigerants in household and car Air Conditioning (AC) systems. HFOs are more environmentally friendly alternatives to HCFCs (hydrochlorofluorocarbons), CFCs (chlorofluorocarbons), and HFCs (hydrofluorocarbons). The factors such as Increased Applications of Hydrofluoroolefins (HFOs) in Automotive Air-conditioning Systems and Increasing Use of Hydrofluoroolefins (HFOs) in Manufacturing Polyurethane Foams are the key drivers for the global Hydrofluoroolefins (HFOs) market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Hydrofluoroolefins (HFOs) market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Arkema (France), Honeywell (United States), DowDuPont (United States), Chemours (United States), Linde plc (Ireland), HCS Group GmbH (Germany), Solvay (Belgium), Foam Supplies (United States), Lambiotte and Cie (Belgium) and Danfoss (Denmark) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hydrofluoroolefins (HFOs) market by Type (HFO-1234ze, HFO-1234yf, HFO-1233zd, HFO-1336mzz and Others), Application (Commercial Refrigeration, Domestic Refrigeration, Foam Blowing Agents, Aerosol Propellants, Mobile Air-Conditioning Systems (MACs) and Precision Solvent Cleaners) and Region.
On the basis of geography, the market of Hydrofluoroolefins (HFOs) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Hydrofluoroolefins (HFOs) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
High Demand for Environmental Friendly Alternatives
Market Growth Drivers:
Increased Applications of Hydrofluoroolefins (HFOs) in Automotive Air-conditioning Systems and Increasing Use of Hydrofluoroolefins (HFOs) in Manufacturing Polyurethane Foams
Challenges:
Availability of Alternatives in the Market
Restraints:
Risks Associated with Hydrofluoroolefins (HFOs) Applications
Opportunities:
Growing Demand from End-users and Increased Investments in Hydrofluoroolefins (HFOs) Manufacturing
Market Leaders and their expansionary development strategies
In May 2022 – Honeywell announced a new hydrofluoroolefin (HFO)-based refrigerant for the European automotive aftermarket that has the potential to reduce the greenhouse gas (GHG) emissions footprint of air conditioning systems in existing vehicles by more than 50%. Solstice® 456A provides an easy-to-use, economical, drop-in service solution for vehicles manufactured before 2017. It has similar performance to R-134A, helping to meet the needs of vehicle owners and auto repair shops amid ongoing climate-related legislation from the EU.
In January 2022, Honeywell Partners With Navin Fluorine To Add Hydrofluoroolefins (HFO) Manufacturing Capacity In India. Builds on Honeywell’s innovation leadership and long-term commitment to continue to deliver sustainable, energy-efficient solutions with proprietary hydrofluoroolefin (HFO) technology
Key Target Audience
Hydrofluoroolefins (HFOs) Manufacturers, Distributors, Emerging Companies, Research Professionals and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.