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The global HCFO-1233zd market generated a revenue of US$ 28.6 million in 2020 and is analyzed to grow at a compound annual growth rate (CAGR) of 6.4 % from 2022 to 2027. Based on volume, the market is expected to record a growth of 9,097.0 tons by the end of the year 2027. The market growth over the forecast period reflects the recovery of the industry from Covid-19 and the subsequent growth trend.
The unsaturated chlorofluorocarbon HCFO-1233zd is a gaseous, colorless chlorofluorocarbon. It is a more environmentally friendly refrigerant in air conditioners because it has a lesser potential for global warming (GWP). E- and Z-isomers of the molecule exist. It is prepared from 1,1,1,3,3-pentachloropropane by undergoing the processes of fluorination and dehydrohalogenation. The report on the global HCFO-1233zd market offers a thorough analysis of market opportunities, market trends, and the industry's competitive landscape. Global HCFO-1233zd market is analyzed for the period of 2017 to 2027, wherein 2017-2020 are historic years, 2021 is considered as the base year and 2022-2027 is the forecast period. The research report offers analysis explained across 15 chapters totaling 186 pages, with 64 extensive data tables and 80 figures.
HCFO-1233zd is a non-ozone-depleting Hydrofluoroolefin that can be utilized as a non-flammable high-performing blowing agent for spraying PU foam. It can also be exploited as a carrier fluid or a solvent. The side chain, R1233zd(E) exhibits some distinctive properties, including excellent cooling and foaming action, a wide range of solubility, negligible VOC emission, and low environmental effect. With a 26-day atmospheric lifetime, HCFO-1233zd(E) is a great environmentally-friendly choice for a wide range of applications, including refrigeration, foam expansion agents, and solvents. Insulation foam blowing agent in heat transfer applications such as chillers and others is the most common use of HCFO-1233zd. HCFO-1233zd is also in high demand as a cleaning agent because it is an environmentally safe cleaning product with no ozone depletion potential (ODP). Food and beverage, mechanical, construction, electric and electronics, heating, ventilation, and air conditioning (HVAC), and other industries use HCFO-1233zd. The food and beverage industry uses HCFO chillers as heat pump to supply hot water, making them ideal for low-temperature heating applications like those found in food and beverage factories. HCFO-1233zd is in high demand in the electric and electronics industries, because of its aptitude for cleaning machine components and electrical and electronic equipment parts.
There is a number of rules regulating the properties and applications of chemical substances like HCFO-1233zd. For instance, REACH regulation 2006/1907/EC was enacted to increase human health and environmental protection from chemical dangers while also increasing the competitiveness of the EU chemicals sector. It also encourages the use of alternative approaches for assessing the hazard of compounds to reduce the number of animal experiments. REACH is an acronym for Registration, Evaluation, Authorization, and Restriction of Chemicals. It went into effect on June 1, 2007. Other regulations and regulatory bodies include Environmental Protection Agency (EPA), European Chemicals Agency (ECHA), and Classification, Labelling and Packaging (CLP) Regulation among others.
The market opportunities for HCFO-1233zd in the global market are thoroughly examined in this research report. To track potential growth, the industry is segmented into various regions including North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America accounted for around 38% of the global HCFO-1233zd market in terms of revenue in 2020, according to the research analysis. In North America, there has been an increase in demand for HCFO-1233zd cleaning items for the electronics sector, such as digital washing equipment and cloud computing services. Because of the huge demand for cloud computing technology in the country for data storage, management, and processing, the United States will grow at the fastest compound annual growth rate in North America over the forecast period. Cloud computing allows users to access a wide range of technologies while removing obstacles to entry such as a lack of technical expertise or a financial constraint.
The research report includes global HCFO-1233zd market analysis based on the following variables – product form, application, and end-use industry. It will assist individuals or firms involved in the HCFO-1233zd industry in determining the most appropriate market for their products. It provides a detailed written and graphical examination of the most important details for each segment.
The study includes an easy-to-understand value chain analysis, global and regional opportunities, and market dynamics. It also illustrates how to use Porter's five forces analysis to assess the impact of a variety of factors on the global market, including supplier bargaining power, competitor competitive intensity, the threat of new entrants, the threat of substitutes, and buyer bargaining power. To examine the key factors like political, economic, social, technological, legal, and environmental affecting the market, the report includes a section dedicated to a PESTLE analysis. Following the high-level analysis section, the report includes the Covid-19 impact study and a comprehensive chapter of company profiles.
Due to the COVID-19 pandemic, numerous significant companies in the HCFO-1233zd market were forced to halt manufacturing due to lockdown imposed in nations such as the United Kingdom, Germany, Italy, and others. The sales of HCFO-1233zd firms were immediately affected by this break. The supply of modular chillers has also been delayed due to a lack of staff and raw materials. The report includes covid-19 impact study at four levels including pre-covid (2017-2019), Short Term (2020-21), Mid Term (2022-24), and Long Term (2025-27).
With the government approval of HCFO-1233zd(E), the market has witnessed remarkable growth. Three separate manufacturers' HCFO-1233zd(E) centrifugal chillers have won environmental awards throughout the world for their leading performance with this non-flammable refrigerant with a GWP of 1. Its boiling point of 18.3°C makes it perfect for high-efficiency low-pressure centrifugal chillers. At the Greenbuild conference in Atlanta, an HCFO-1233zd(E) centrifugal chiller with magnetic bearings was selected as one of the Top 10 Products for 2020. The chiller is designed to work with HCFO-1233zd and features low-maintenance magnetic levitation bearings to increase energy efficiency. However, there are a few constraints, such as the greater cost of HCFO-1233zd compared to conventional materials, which have raised concerns about environmental sustainability, and fluctuating HCFO-1233zd prices are projected to limit the worldwide HCFO-1233zd market's growth. One of the primary limiting issues is the high cost of HCFO-1233zd in comparison to typical materials, which represents one of the major roadblocks in the market expansion.
The competition landscape section of the report offers an in-depth analysis of key players active in the global HCFO-1233zd market via primary as well as secondary research that covers descriptive profiles of 8 prominent players and the list can be customized as per the reader’s research requirements. Details covered for these players include – Business Description, Product Portfolio, Company Financials and Claims, Key Details, Strategy Outlook, and Recent Developments. The players profiled in the research report include are – Arkema S.A., Beijing Yuji Science & Technology Co., Ltd., Central Glass Co., Ltd., Chemours Company, Danfoss, GAB Neumann, Honeywell International, and Navin Fluorine.
By Product Form
By End-user industry
This report provides analysis of global market for HCFO-1233zd for the period 2017 to 2027, wherein 2021-2027 are forecast values, reflecting impact of different factors on the growth trend.
HCFO-1233zd global market was valued at USD 28.6 Mn in 2020 in terms of revenue and 6.1 Kilo Tons in terms of volume the same year.
The HCFO-1233zd market is growing at a revenue CAGR of 6.4% over the forecast period. Equivalent volume CAGR is estimated at 5.9%.
The environmental awards received by HCFO-1233zd(E) chillers are Environment Minister's Award for Global Warming Prevention Activity, Middle East North Africa (MENA) Green Building Product of the Year in the Energy Management and Top 10 Products for 2020 at the Greenbuild conference.
REACH regulation 2006/1907/EC and Classification, Labelling and Packaging (CLP) Regulation ((EC) No 1272/2008) are imposed to ensure protection of health and the environment.
As a cleaning agent, HCFO-1233zd is suitable for cleaning machine parts, electrical and electronic equipment parts, optical equipment parts, and others.
The higher cost of HCFO-1233zd as compared to conventional material increased issues regarding environmental sustainability, and fluctuating prices of HCFO-1233zd are expected to inhibit the growth of the global HCFO-1233zd market.
Asia Pacific is growing at the highest CAGR of about 7.6% over 2021- 2027.
Global HCFO-1233zd market is observed to have competitive nature and is projected to shift towards consolidated nature in the forecast period.
The report covers the following segments; product form, applications, end use industry and region.
The two products forms in the HCFO-1233zd market report are Trans-1-Chloro-3,3,3-trifluoropropene (HCFO-1233zd-E) and Cis-1-Chloro-3,3,3-trifluoropropene (HCFO-1233zd-Z).
The cleaning agent segment is expected to project the fastest CAGR of 7.8% in the global HCFO-1233zd market in 2020 due to high demand as it is an environmentally friendly cleaning agent with ozone depletion potential (ODP) close to 0 and very low global warming potential (GWP).
Honeywell, Arkema, Chemours Company and others are the major companies operating in HCFO-1233zd market.
The key strategies adopted by market players include: Mergers and acquisitions, partnerships, regional expansion, and new product development.
During the COVID-19 pandemic, various players in the HCFO-1233zd market halt their production due to lockdown implemented in various countries. This break impacted the sales of HCFO-1233zd companies. Also, lack of labor and raw materials has restricted the supply of products.