Report Ocean publicizes a new report on the global HCFO 1233zd market report contains numerous information about factors, such as market restrains, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the global HCFO 1233zd market growth.
The global HCFO 1233zd market held a market value of USD 28.56 Million in 2020 and is forecasted to reach USD 43.52 Million by the year 2027. The market is expected to register a CAGR of 5.5% during the forecast period. The market volume for HCFO-1233zd was 6,173.4 tons in 2020.
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HCFO 1233zd or hydrochlorofluoroolefins is unsaturated short-chain olefins. It is used as an alternative to the saturated hydrofluorocarbons as refrigerants, owing to their ultra-low global warming potential. The market is majorly driven by the government approval for HCFO-1233zd(E). Furthermore, the rising applications of HCFO-1233zd and the rising focus of market players on the product are also factors leading to a positive influence on the market.
Government approval for HCFO-1233zd(E)
HCFO-1233zd(E) is a class 1 refrigerant. It is non-flammable. According to the 4th Assessment Report of the Intergovernmental Panel for Climate Change (IPCC), HCFO-1233zd(E) has an ultra-low Global Warming Potential (GWP) of 4.5. This leads to the fact, theoretically, even if this compound can lead to local stratospheric ozone depletion, its magnitude is very low, due to the short atmospheric lifetime. It does not accumulate in the atmosphere. Therefore, the low or negligible impact of HCFO-1233zd(E) has led to its approval by the government of different countries and hence, has increased its demand in various industries. This is expected to fuel the market growth during the forecast period.
Recognitions for HCFO-1233zd
Due to their ultra-low GWPs, low or non-flammability, and energy efficiency, HCFO-1233zd are becoming the refrigerants of choice for large chillers. For this, HCFO-1233zd(E) centrifugal chillers from 3 different manufacturers have also received environment awards. For instance, in Dubai, it received the Middle East North Africa (MENA) Green Building Product of the Year award in the Energy Management category. In Japan, it received the Environment Ministers Award for Global Warming Prevention Activity. In the United States, it was named one of the Top 10 Products for 2020 at the Greenbuild conference in Atlanta. Such recognitions are increasing the popularity of HCFO-1233zd, hence boosting the market growth.
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The global HCFO 1233zd market is segmented into product form, application, and end use industry.
By Product Form
The trans-1-chloro-3,3,3-trifluoropropene (HCFO-1233zd-E) segment accounts for the largest share of the market. This is due to the rising focus of market players on this product owing to its negligible negative impact on the environment.
Insulation Foam Blowing Agents
The insulation foam blowing agents segment accounted for the largest share of more than 50% owing to the high adoption of HCFO-1233zd in industries as insulation foam blowing agents. On the other hand, the cleaning agent segment is anticipated to grow at the fastest growth rate over the forecast period.
By End Use Industry
Food or Beverage
Electrical & Electronics
Heating, Ventilation, and Air Conditioning (HVAC)
The food or beverage segment accounted for the largest market share owing to the increasing use of HCFO-1233zd in the food and beverage industry as refrigerants and other cooling agents. Whereas, the electric and electronics segment is anticipated to grow at the fastest growth rate over the forecast period.
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On a regional basis, the global HCFO 1233zd market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The North American region accounted for the largest market share of more than 30% in the global market owing to the presence of major market players in the region. Also, the government in the United States, as well as Canada, is focusing on investing in products that are sustainable from an environmental perspective.
The European region is expected to hold the second-largest market share owing to the favourable government initiatives. The Asia Pacific region is expected to grow at the fastest growth rate owing to the rising focus of market players in this region. For instance, in February 2021, Arkema announced further investments to expand its fluoropolymer production capacities in Changshu, China in 2022. It is expected to expand these capacities by 35%. Such strategic initiatives boost market growth.
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Key players operating in the global HCFO 1233zd market include Arkema S.A., Beijing Yuji Science & Technology Co., Ltd., Central Glass Co., Ltd, Chemours Company, Danfoss, GAB Neumann, Honeywell International, Navin Fluorine, and Solvay, among others.
The cumulative market share of the three major players is near about 68%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in May 2021, Arkema acquired Agiplast, a manufacturer of high-performance polymers, especially fluoropolymers and polyamides. With this, the company enhanced its presence in the Italian market.
Table Of Content:
Chapter 1. Research Framework
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. Market Size Estimation
126.96.36.199. Assumption for the Study
188.8.131.52. Data Triangulation
……..and view more in complete table of Contents
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The global HCFO 1233zd market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global HCFO 1233zd market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global HCFO 1233zd market report answers questions such as:
What is the market size and forecast of the Global HCFO 1233zd Market?
What are the inhibiting factors and impact of COVID-19 on the Global HCFO 1233zd Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global HCFO 1233zd Market?
What is the competitive strategic window for opportunities in the Global HCFO 1233zd Market?
What are the technology trends and regulatory frameworks in the Global HCFO 1233zd Market?
What is the market share of the leading players in the Global HCFO 1233zd Market?
What modes and strategic moves are considered favorable for entering the Global HCFO 1233zd Market
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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