Tetrafluoroethane (R134A) Refrigerant Market- Global Industry Analysis and Forecast (2024-2030)

Tetrafluoroethane (R134A) Refrigerant Market was valued at US$ 170.53 Mn. in 2023 and is expected to reach US$ 228.97 Mn. by 2030 at a CAGR of 4.3% over the forecast period.

The report covers an in-depth analysis of COVID 19 pandemic impact on Global Tetrafluoroethane (R134A) Refrigerant Market by region and on the key players’ revenue affected till July 2021 and expected short term and long-term impact on the market.
Tetrafluoroethane (R134A) Refrigerant Market overview
Tetrafluoroethane (R134A) is used as a replacement for R-12 CFC refrigerant. It comes from the family of HFC refrigerants and it exits in gas form. The boiling temperature is tetrafluoroethane (R134A) 26.1A°C or -14.9 A. R134 a refrigerant is non-corrosive, non-toxic, and non-flammable as a result it is safe for normal handling this lead to increasing the demand for tertrafluoethane (R134A) market. To use this refrigerant design changes need to be done in the evaporator and condenser.To know about the Research Methodology :- Request Free Sample Report
Dynamics
In the area of reciprocating compressor, centrifugal, rotary screw, and scroll are used as a substitute for R-12 CFC refrigerant. Increasing demand for R134A (tetrafluoroethane) in the propellant manufacturing industry is used as an air refrigerant system. Besides, it is used in domestic and commercial refrigeration, as a propellant in aerosol cans, for foam‐blowing of building insulation, and in pharmaceutical uses such as asthma inhalers. These factors are driving the growth of the tertrafluoethane market.

Research & development activities coupled with technological advancement in Tetrafluoroethane (R134A) Refrigerant is upsurge the market growth. Chlorine is present in HCFC refrigerants, which contributed to ozone layer degradation, and was thus phased out and banned. This has built many lucrative opportunities for the tetrafluroethane refrigerant market. Besides, development in Hydro Fluoro Carbon (HFC) for removal of chlorine refrigerant as they are better than HCFCs though it causes global warming they do not harm the ozone layer and energy-efficient.

However, the high cost of Tetrafluoroethane (R134A) Refrigerant may hamper the market growth at the global level.
Segment Analysis
Global Tetrafluoroethane (R134A) Refrigerant Market is segmented by applications into air conditioners (Propellant, domestic, and commercial), industrial, pharmaceutical, refrigerators, and chillers. The propellant segment held the dominant market share of xx% in 2023. The demand for passenger vehicles and commercial vehicles has led to an increasing demand for the market. Increasing investment in the development of refrigerant technology is expected to propel the market growth. The MMR reports cover the detailed information related to all application segments in the terms of value.
Regional Insights
Geographically, the Tetrafluoroethane (R134A) Refrigerant market is segmented into North America, Europe, Asia Pacific, the Middle East, and Africa, and South America. In terms of value, Asia Pacific is accounted for a prominent market share of xx% with a CAGR of xx% in 2023 and is expected to continue its prominence during the forecast period. Research & development activities and supportive government regulations for toxic carbon emission are driving the market growth in this region. Also, the growing propellant industry has made a positive impact on the tetrafluoroethane market over the upcoming years.

The report covers an in-depth analysis of key development, marketing strategies, supply-side and demand-side indicators, and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.

The objective of the report is to present a comprehensive analysis of the Global Tetrafluoroethane (R134A) Refrigerant Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Tetrafluoroethane (R134A) Refrigerant Market dynamics, structure by analyzing the market segments and project Global Tetrafluoroethane (R134A) Refrigerant Market Clear representation of competitive analysis of key players by price, financial position, Type portfolio, growth strategies, and regional presence in the Global Tetrafluoroethane (R134A) Refrigerant Market make the report investor’s guide.
Tetrafluoroethane (R134A) Refrigerant Market Scope: Inquire before buying



Global Tetrafluoroethane (R134A) Refrigerant Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 170.53 Mn.


Forecast Period 2024 to 2030 CAGR:
4.3%
Market Size in 2030:
US $ 228.97  Mn.


 Segments Covered:
by Type
Air conditioner (Propellant, domestic, and commercial)
Industrial
Automotive
Others


by Application
Foam-blowing agent
Refrigerant blend
Propellant
Others


by End User
Automotive Air-Conditioning
Commercial Refrigeration Equipment
Domestic Refrigeration Equipment



by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Tetrafluoroethane (R134A) Refrigerant Market Key Players
1. Daikin
2. Chemours
3. Arkema
4. Dongyue Group
5. Sinochem Group
6. Mexichem Fluor
7. Honeywell
8. Linde Gas
9. Bailian

Frequently Asked Questions:

1. Which region has the largest share in Global Tetrafluoroethane (R134A) Refrigerant Market?
Ans: Asia Pacific region held the highest share in 2023.

2. What is the growth rate of Global Tetrafluoroethane (R134A) Refrigerant Market?
Ans: The global market is growing at a CAGR of 4.3% during forecasting period 2024-2030.

3. What is scope of the Global Tetrafluoroethane (R134A) Refrigerant Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Tetrafluoroethane (R134A) Refrigerant Market?
Ans: The important key players in the global market are – Daikin, Chemours, Arkema, Dongyue Group, Sinochem Group, and Others.

5. What is the study period of this Market?
Ans: The Global Tetrafluoroethane (R134A) Refrigerant Market is studied from 2023 to 2030.