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Global HCFO-1233zd Market Comprehensive Overview of Industry Size and Value by 2032

Global HCFO-1233zd Market Comprehensive Overview of Industry Size and Value by 2032

The recent “HCFO-1233zd Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “HCFO-1233zd Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global HCFO-1233zd Market Analysis and Growth Forecast:

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.

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.

Competitive Landscape

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.

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Growth Influencers:

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 Minister?s 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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Segments Overview:

The global HCFO 1233zd market is segmented into product form, application, and end use industry.

By Product Form
Trans-1-Chloro-3,3,3-trifluoropropene (HCFO-1233zd-E)
Cis-1-Chloro-3,3,3-trifluoropropene (HCFO-1233zd-Z)

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.

By Application
Insulation Foam Blowing Agents
Refrigerants
Centrifugal Chillers
Cleaning Agent
Degreasing
Others

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
Mechanical
Construction
Electrical & Electronics
Heating, Ventilation, and Air Conditioning (HVAC)
Others

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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Regional Overview

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.

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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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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