Product ID: SQSG15E2035
Global Hydrofluoroolefin (HFO) Market Size, Share, Growth Analysis, By Type(HFO-1234ze, HFO-1233zd), By Application(AC & Refrigeration, Foam Blowing Agents), By End-Use Industry(Automobile, Construction) - Industry Forecast 2024-2031
Report ID:
SQSG15E2035 |
Region:
Global |
Published Date: February, 2024
Pages:
273
|
Tables:
94 |
Figures:
83
Global Hydrofluoroolefin (HFO) Market Dynamics
Hydrofluoroolefin (HFO) market Driver
Demand from Automotive Industry to Boost Sales of Hydrofluoroolefin
- Hydrofluoroolefins (HFO) has emerged as the next-generation standard in mobile air conditioning. According to the EU MAC Directive, all new vehicle types are prohibited from using a refrigerant with a global warming potential (GWP) greater than 150, which has increased the demand for HFOs. Although the vast majority of automobile manufacturers in developed countries have already switched to HFO-1234yf or are planning to do so, there is still some interest in other alternatives, particularly for heavy trucks and off-road vehicles. In addition, two German automakers (Audi and Daimler) have announced plans to use R-744 (carbon dioxide, GWP=1) as a coolant in a number of their larger vehicle models. In India, TATA Motors Limited (TML)/MAHLE/IGSD has received funding for a demonstration project of a secondary loop MAC (SL-MAC) system using either HFC-152a (GWP=138) or HFO-1234yf (GWP1).
- Various refrigerants are being closely examined all over the world to demonstrate their environmental impact and sustainability credentials. Cooling gases used in their refrigeration systems account for approximately one-fourth of their carbon footprint before accounting for the energy used to power equipment. Players are constantly working to improve technologies and create environmentally friendly products. For example, Honeywell introduced Genetron Performax LT (R-407F), a long-term alternative to R-22 that does not deplete the ozone layer, particularly in low-temperature applications. Because it closely resembles R-22, Genetron Performax LT can be used as a retrofit fluid in applications that currently use R-22. The company also claims that the refrigeration meets energy efficiency, carbon footprint reduction, operating costs, and safety standards. This type of product innovation will drive the market over the forecast period.
Major Shift of Population to urban areas.
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Approximately 4 billion people, or 56% of the world's population, now reside in cities. Additionally, by 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to double its current count.The use of refrigerant is on the peak in urban areas as a result of increasing living standards and major upgrades in lifestyle. This major factor is increasing the need for air conditiioner that inturn rises the demand for HFCs
Hydrofluoroolefin (HFO) market Restraint
Safety Hazards Associated with HFOs to Hinder Market Growth
- Concerns about flammability extend beyond whether or not certain types of refrigerant leakage situations cause equipment and buildings to catch fire. This, however, is one of the major issues severely affecting the market. The HFO refrigerants HFO-1234yf and HFO-1234ze have an A2L safety classification, which means they are low in toxicity but slightly flammable. A2L and B2L are low-flammability refrigerants with maximum burning speeds of 10 cm/s or 3.9 inches per second (in./s). "Lower" flammability is represented by the letter "L." There are A1 (non-flammable) HFOs; however, more research and testing with these refrigerants are required. HFOs are stable in systems, but they degrade in the atmosphere over a few days, giving them global warming potential (GWP) ratings ranging from 150 to less than 1.
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Hydrofluoroolefins are easily decomposable at high temperatures, just like all halogenated hydrocarbons, and their high solubility creates acid, which can irritate the skin, eyes, and throat and even be lethal.
Global Hydrofluoroolefin (HFO) Market Report Snapshots
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