Hydrofluoroolefins Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (HFO-1234yf, HFO-1234ze, HFO-1336mzz, HFO-1233zd, and Others); Application [Refrigerant (Commercial, Industrial, Residentials, Mobile Air-Conditioning Systems (MACs)), Blowing Agents, Propellants, Solvents, and Others]; End-User (HVAC, Automobile, Polymers & Plastics, Aerosol, Industrial, and Others); and Region and Country

Pages:

221

Table:

39

Figure:

123

Report ID:

UMCH21682

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Report Description
Table of content
Research Methodology

Report Description

Hydrofluoroolefins Market
Hydrofluoroolefins Market

The global hydrofluoroolefins market is expected to showcase robust growth during the forecast period (2021-2027). Global treaty signed by the countries to phase out the production and consumption of ozone depleting substances (ODS) like hydrochlorofluorocarbons (HCFCs) and chlorofluorocarbons (CFCs), has forced the countries to adopt substances which are considered as a better replacement and does less harm to the environment such as hydrofluorocarbons (HFCs). This has significantly reduced the consumption of ODS.

For instance, according to Our World in Data, the consumption of ODS has fallen to 0.33 in 2018 from 127.65 in 1989, wherein global consumption of ODS, measured relative to the year 1986 (where consumption in 1986 is equal to 100). Furthermore, in order to maintain the global temperature below 2 degrees Celsius, on October 15, 2016, Parties to the Montreal Protocol adopted the Kigali Amendment to phase down production and consumption of HFCs worldwide. This new amendment is creating opportunity for the substances which have zero ozone depletion potential (ODP) and low global warming potential (GWP) like hydrofluoroolefins. Hydrofluoroolefins are the fourth generation of fluorine-based gases and are categorized as having zero ODP and low GWP and so offer a more environmentally friendly alternative to CFCs, HCFCs and HFCs.

Insights Presented in the Report

“Amongst type, HFO-1234yf held prominent share in the market in 2020.”

Based on type, the market is categorized into HFO-1234yf, HFO-1234ze, HFO-1336mzz, HFO-1233zd, and others.  Among these, HFO-1234yf accounted for the prominent share in the market and is expected to grow at a considerable growth rate during the forecast period. HFO-1234yf is widely used by the automobile manufacturer in order to comply with the EU low GMP requirements. Moreover, it provides similar cooling capacity and energy efficiency to R134a, a commonly used gas in MACs. Also, it has a GWP of 4 which is 99.7% lower than R134a

“Amongst application, refrigerant accounted for significant share in the market in 2020.”

Based on type, the market is categorized into HFO-1234yf, HFO-1234ze, HFO-1336mzz, HFO-1233zd, and others.  Among these, HFO-1234yf accounted for the prominent share in the market and is expected to grow at a considerable growth rate during the forecast period. HFO-1234yf is widely used by the automobile manufacturer in order to comply with the EU low GMP requirements. Moreover, it provides similar cooling capacity and energy efficiency to R134a, a commonly used gas in MACs. Also, it has a GWP of 4 which is 99.7% lower than R134a

“Europe captured significant position in the Hydrofluoroolefins market”

For a better understanding of the market adoption of hydrofluoroolefins, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Europe accounted for the significant share in the global hydrofluoroolefins market. Stringent regulation to phase down the production and consumption of HFCs and European Union countries ratified to Kigali Amendment aiding the region to maintain a strong hold in the hydrofluoroolefins market

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country level analysis of the industry

Customization Options:

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1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency used in Report
2.1.Research Process of the Hydrofluoroolefins Market
2.2.Research Methodology of the Hydrofluoroolefins Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Hydrofluoroolefins Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5GLOBAL HYDROFLUOROOLEFINS MARKET COVID-19 IMPACT
6GLOBAL HYDROFLUOROOLEFINS MARKET REVENUE (USD MN), 2019-2027F
7.1.HFO-1234yf
7.2.HFO-1234ze
7.3.HFO-1336mzz
7.4.HFO-1233zd
7.5.Others
8.1.Refrigerant
 8.1.1.Commercial
 8.1.2.Industrial
 8.1.3.Residential
 8.1.4.Mobile Air-Conditioning Systems (MACs)
8.2.Blowing Agents
8.3.Propellants
8.4.Solvents 
8.5.Others 
9.1.HVAC
9.2.Automobile
9.3.Polymers & Plastics
9.4.Aerosol
9.5.Industrial
9.6.Others
10.1.North America Hydrofluoroolefins Market 
 10.1.1.United States
 10.1.2.Canada
 10.1.3.Rest of North America
10.2.Europe Hydrofluoroolefins Market 
 10.2.1.Germany
 10.2.2.France
 10.2.3.United Kingdom
 10.2.4.Spain
 10.2.5.Rest of Europe
10.3.Asia Pacific Hydrofluoroolefins Market
 10.3.1.China
 10.3.2.Japan
 10.3.3.India
 10.3.4.Australia
 10.3.5.Rest of Asia Pacific
10.4.Rest of World Hydrofluoroolefins Market 
11.1.Market Drivers
11.2.Market Challenges
11.3.Impact Analysis
12HYDROFLUOROOLEFINS MARKET OPPORTUNITIES
13HYDROFLUOROOLEFINS MARKET TRENDS
14LEGAL & REGULATORY FRAMEWORK
15.1.Demand Side Analysis
15.2.Supply Side Analysis
 15.2.1.Top Product Launches
 15.2.2.Top Business Partnerships
 15.2.3.Top Business Expansions, Investments and Divestitures
 15.2.4.Top Merger and Acquisitions
16VALUE CHAIN ANALYSIS
17.1.Competitive Landscape
 17.1.1.Porters Fiver Forces Analysis
  17.1.1.1.Bargaining Power of Buyer
  17.1.1.2.Bargaining Power of Supplier
  17.1.1.3.Intensity of Rivalry
  17.1.1.4.Threats of New Entrant
  17.1.1.5.Threat of Substitute
17.1.2.Company Shares, by Revenue
18.1.Honeywell International Inc.
18.2.Linde plc
18.3.The Chemours Company
18.4.Beijing Yuji Science & Technology Co. Ltd.
18.5.Daikin Industries Ltd.
18.6.Arkema S.A.
18.7.Zhejiang Huanxin Fluoro Material Co. Ltd.
19DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Hydrofluoroolefins three major steps undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Hydrofluoroolefins industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Hydrofluoroolefins through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Hydrofluoroolefins market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. Major segment included in the report by type, application, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of the Hydrofluoroolefins globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Hydrofluoroolefins. Further, we conducted factor analysis using dependent and independent variables such as initiatives to reduce greenhouse gas emissions and phasing out of hydrofluorocarbons (HFCs). A thorough analysis was conducted for demand and supply-side scenario considering increasing investment, top partnerships, merger and acquisition, business expansion, and product launches in the Hydrofluoroolefins industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Hydrofluoroolefins market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Hydrofluoroolefins across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Hydrofluoroolefins market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

Hydrofluoroolefins Market
Hydrofluoroolefins Market

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Hydrofluoroolefins market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of type, application, and end-user.

The main objective of the Hydrofluoroolefins market study

The current & future market trends of global Hydrofluoroolefins were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Hydrofluoroolefins in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segment in the study include area of type, application, and end-user
  • Defined analysis of the regulatory framework for the Hydrofluoroolefins industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Hydrofluoroolefins for the major countries
  • Major regions/countries analyzed in the report includes North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
  • Company profiles of the Hydrofluoroolefins market players and the growth strategies adopted by them to sustain in the growing market

Deep dive country level analysis of the industry