The Global HFO-1234yf Market was valued at US$ 1008 million in 2022 and is anticipated to reach US$ 2983 million by 2029, witnessing a CAGR of 15.83% during the forecast period (2023–2029). This growth is being driven by stringent environmental regulations phasing out high-GWP hydrofluorocarbons (HFCs), rising demand for eco-friendly refrigerants in automotive air conditioning systems, and expanding applications in commercial and domestic refrigeration sectors.

As the refrigeration and air conditioning industry shifts toward sustainable, low-global-warming-potential (GWP) solutions to combat climate change, the focus is on key manufacturers who are pioneering next-generation refrigerants. In this blog, we profile the Top 10 Companies in the Global HFO-1234yf Market—a blend of chemical industry giants, specialty producers, and innovators advancing low-GWP technologies for a greener future.

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🔟 1. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Solstice yf (HFO-1234yf) for automotive AC and refrigeration

Honeywell stands as a pioneer in the development of HFO-1234yf, having introduced it as a low-GWP alternative to R-134a. The company’s Solstice line is widely adopted in vehicle air conditioning systems worldwide, meeting regulatory standards like the EU’s F-Gas Regulation and the U.S. EPA’s Significant New Alternatives Policy (SNAP) program. Honeywell’s expertise spans production, formulation, and integration support for OEMs in the automotive sector.

Because of its near-zero ozone depletion potential and GWP of less than 1, HFO-1234yf helps reduce greenhouse gas emissions significantly. Honeywell invests heavily in R&D to enhance refrigerant efficiency and compatibility with existing systems, ensuring seamless transitions for manufacturers.

Environmental Initiatives:

• Global expansion of Solstice production facilities to meet rising demand

• Partnerships with automakers for HFO-1234yf adoption in electric vehicles

• Commitment to carbon-neutral manufacturing processes by 2035

Download FREE Sample Report: Global HFO-1234yf Market – View in Detailed Research Report

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9️⃣ 2. The Chemours Company

Headquarters: Wilmington, Delaware, USA
Key Offering: Opteon YF (HFO-1234yf) for mobile AC and chillers

Chemours, a spin-off from DuPont, is a major force in the HFO-1234yf arena, producing Opteon YF that offers excellent thermodynamic performance with minimal environmental impact. This refrigerant is integral to new vehicle models compliant with global mandates, such as those in Europe and Japan, where HFC phase-downs are accelerating.

The company’s focus on safety and efficiency has made Opteon YF a preferred choice for both original equipment manufacturers and aftermarket applications. Furthermore, Chemours supports the entire value chain, from raw material sourcing to end-user education on proper handling to prevent leaks.

Environmental Initiatives:

• Investment in recycling technologies for HFO-1234yf recovery

• Collaborations with industry bodies to promote low-GWP standards

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8️⃣ 3. Arkema S.A.

Headquarters: Colombes, France
Key Offering: Forane 1234yf for automotive and commercial refrigeration

Arkema excels in specialty chemicals, with its Forane 1234yf product line tailored for high-performance cooling in passenger cars and light-duty trucks. The French multinational has scaled production to support the European market’s aggressive shift away from high-GWP refrigerants, aligning with the Montreal Protocol’s Kigali Amendment.

However, challenges like mildly flammable properties of HFO-1234yf have been addressed through Arkema’s innovative additives and system designs. This ensures safe integration without compromising cooling capacity, making it suitable for diverse applications beyond automotive use.

Environmental Initiatives:

• Targets for 20% reduction in production emissions by 2025

• Supply agreements with Asian automakers for HFO-1234yf expansion

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7️⃣ 4. Daikin Industries Ltd.

Headquarters: Osaka, Japan
Key Offering: DYD (HFO-1234yf) blends for air conditioning systems

Daikin, a global leader in HVAC technologies, produces HFO-1234yf variants optimized for Japanese and Asian markets, where domestic regulations favor low-GWP fluids. The company’s integrated approach combines refrigerant manufacturing with compressor design, enhancing overall system efficiency.

In response to growing electric vehicle adoption, Daikin has developed HFO-1234yf solutions that maintain performance in extreme temperatures. This holistic strategy positions them strongly in the Asia-Pacific region, where consumption is surging due to urbanization and rising vehicle ownership.

Environmental Initiatives:

• Goal to phase out all high-GWP products by 2030

• R&D centers focused on next-gen low-GWP refrigerants

Download FREE Sample Report: Global HFO-1234yf Market – View in Detailed Research Report

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6️⃣ 5. Orbia Advance Corporation (formerly Mexichem)

Headquarters: Mexico City, Mexico
Key Offering: Koura HFO-1234yf for emerging markets

Orbia’s Koura brand supplies HFO-1234yf to Latin American and North American automotive sectors, capitalizing on regional trade agreements for cost-effective distribution. As a vertically integrated producer, the company controls fluorochemical feedstocks, ensuring supply chain reliability amid global fluctuations.

Because of its strategic location, Orbia serves as a key bridge for HFO-1234yf exports to the U.S., where automotive production is rebounding. Their emphasis on sustainable sourcing helps mitigate environmental risks associated with fluorocarbon production.

Environmental Initiatives:

• Expansion of low-GWP refrigerant capacity in South America

• Certifications for eco-friendly manufacturing practices

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5️⃣ 6. SRF Limited

Headquarters: Gurugram, India
Key Offering: FPS HFO-1234yf for domestic and commercial use

SRF Limited is a rising star in India’s chemical landscape, producing HFO-1234yf for the burgeoning automotive and refrigeration markets in South Asia. With India’s vehicle emissions standards evolving, SRF’s products support compliance while addressing local cost sensitivities.

The company leverages advanced fluorination processes to deliver high-purity HFO-1234yf, suitable for both new installations and retrofits. Furthermore, SRF’s focus on R&D fosters innovations in blended refrigerants, expanding applications to commercial refrigeration units.

Environmental Initiatives:

• Current output exceeding regional demand projections

• Target: Double production capacity by 2027

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4️⃣ 7. Gujarat Fluorochemicals Limited (GFL)

Headquarters: Noida, India
Key Offering: Inoflon HFO-1234yf for industrial applications

GFL, part of the InoxGFL Group, specializes in fluoropolymers and refrigerants, with HFO-1234yf playing a pivotal role in their portfolio for Asian markets. The company’s integrated facilities enable competitive pricing, vital for adoption in developing economies.

Despite geopolitical tensions affecting supply chains, GFL maintains steady production, supporting applications in domestic refrigeration where energy efficiency is paramount. Their work on safety enhancements addresses flammability concerns, building trust among end-users.

Environmental Initiatives:

• Local R&D for HFO blends reducing GWP further

• Partnerships with Indian OEMs for sustainable cooling

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3️⃣ 8. AGC Chemicals

Headquarters: Tokyo, Japan
Key Offering: AsahiKlin HFO-1234yf variants for precision cooling

AGC Chemicals brings Japanese precision to the HFO-1234yf market, serving high-tech automotive and electronics sectors. Their products excel in ultra-low GWP performance, aligning with stringent Japanese environmental laws.

AGC’s global network facilitates distribution to Europe and North America, where demand for advanced refrigerants is high. By investing in purification technologies, they ensure HFO-1234yf meets the purity standards required for sensitive applications like EV battery cooling.

Environmental Initiatives:

• Indigenous development of non-flammable HFO formulations

• Alliances to scale production in Asia-Pacific

Download FREE Sample Report: Global HFO-1234yf Market – View in Detailed Research Report

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2️⃣ 9. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Solkane HFO-1234yf for European markets

Solvay contributes to the HFO-1234yf ecosystem with Solkane products designed for compliance with EU directives. As a European powerhouse, the company supports the transition in automotive AC, where HFO-1234yf is mandatory for new models since 2017.

Their emphasis on circular economy principles includes programs for refrigerant reclamation, reducing overall environmental footprint. Solvay’s collaborations with suppliers ensure a robust supply chain resilient to raw material volatility.

Environmental Initiatives:

• Aims for 50% recycled content in refrigerant production by 2030

• Expansion of SAF-like low-impact facilities in Europe

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1️⃣ 10. 3M Company

Headquarters: St. Paul, Minnesota, USA
Key Offering: Novec HFO-1234yf engineered fluids for specialty uses

3M innovates with HFO-1234yf in niche applications, including precision cleaning and refrigeration in data centers. Their Novec line extends the refrigerant’s utility beyond traditional automotive roles, into high-efficiency commercial systems.

With a legacy in fluorochemistry, 3M addresses scalability challenges through modular production methods. This approach supports global consumption growth, particularly in North America and Europe, where regulatory pressures are intensifying.

Environmental Initiatives:

• End-to-end solutions for low-GWP adoption in commercial sectors

• Strategic ties with tech firms for sustainable cooling innovations

Read Full Report: Global HFO-1234yf Market – View in Detailed Research Report

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🌍 Outlook: The Future of HFO-1234yf Is Greener and More Efficient

The HFO-1234yf market is experiencing transformative growth. While automotive air conditioning remains the dominant application, expansion into domestic and commercial refrigeration signals broader adoption. Industry players are channeling investments into production scaling, safety enhancements, and integrated systems to meet escalating demand.

📈 Key Trends Shaping the Market:

• Regulatory expansions in Asia-Pacific mandating low-GWP refrigerants by 2025

• Growth in electric vehicle integration requiring efficient, safe HFO-1234yf systems

• Advancements in recycling and reclamation to minimize environmental releases

• Collaborations between chemical firms and automakers for customized solutions

Read Full Report: Global HFO-1234yf Market – View in Detailed Research Report

The companies listed above are not only powering global cooling—they’re leading the low-GWP revolution in refrigeration and air conditioning.