Acumen research and consulting estimates that the global fluorochemicals market is anticipated to reach market size of around US$ 30,000 Mn by 2027 and is anticipated to grow at a CAGR of around 4% in terms of revenue during the forecast period 2020 – 2027.
Fluorochemical is compose of fluorine as a organic element. These are primarily hydrocarbons, where at least one atom of hydrogen has been replaced by fluorine. Fluorochemical is used in a variety of sectors, including pharmaceutical, medical, agrochemical, HVACS and automotive sectors.
Factors such as the drop in prices from the automotive and commercial cold industry are expected to show considerable growth in the fluorochemicals market. In developing countries such as China, Brazil, Africa and India, the commercial refrigeration market witnessed remarkable growth due to rise in disposable income. However, the growth of the market for fluorochemicals can be prevented by the increase of stringent environmental regulations for fluorocarbons. For instance,a major factor hampering market growth was environmental concerns with hydrofluorocarbons. Instead, the increase in production of aluminum is projected to deliver lucrative growth opportunities in Asia-Pacific during the forecast period. The increase of aluminum demand, primarily prompted by its increasing use in the automotive and construction sectors, is projected to increase in hydrofluorides.
The electrical & electronics segment will grow rapidly in terms of CAGR. The compounds extracted from mined fluorite are fluorochemical. It is commonly employed in the manufacture of fluoropolymers, fluorocarbons and flour surfactants for different applications, including refrigerant, aluminum and blowing agents. The use of smartphones may continue to drive consumer electronics production, which is driven by a low replacement period of two year. Mobile phone market also influence new technologies and next steps for other developments of consumer electronics. The increasing of IoT, connected appliances, and professional electronics owing it to the mobility acquired by smartphones. The massive development, the availability of advanced technologies such as fingerprint scanners and high-resolution displays provide the consumer electronics industry in general with plenty of growth opportunities.
The market research study on “Fluorochemicals Market (By Type: Fluorocarbons (HFC, HCFC, HFO), Fluoropolymers (PTFE, PVDE, PCTFE, FEP), Fluoroelastomers (Inorganic & Specialties, Elemental Fluorine, Fluoropolymer Additives); By Application: Refrigeration, Blowing Agent, Tubing, Films, Aluminum Production, Paint Strippers; By End-Use Industry: Electrical & Electronics, Automotive & Transportation, Construction, Consumer Goods, Industrial Equipment, Pharmaceuticals, Chemical Processing) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global fluorochemicals market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global fluorochemicals market are drug class, type, application, end-use and major geographic regions. The fluorochemicals market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The growth rate is expected to increase significantly over the forecast period in the Asia Pacific market, especially the markets of India, South Korea, Japan and China. Furthermore, rising HVAC systems deployment is expected to drive regional demand growth in automotive and infrastructure markets. Furthermore, fluorochemicals have been increasingly used in construction and manufacturing industries to produce components such as cavities, architectural seals, and wire and wipe with anticorrosion, UV resistance and high resilience properties. In fact, markets in Europe led by the fluorochemical industries of Germany, Italy, France and the UK are anticipated to experience high sales share gains. This is due to the rising healthcare prices, combined with rising R&D activities in the medical sector for fluoropolymers during the projected period.
Major players included in this report Daikin Industries, Ltd., DuPont, Arkema S.A., Dongyue Group Co., Ltd., Honeywell International, Inc., Halocarbon Products Corporation., Kureha Corporation, Solvay SA, Pelchem SOC Ltd., The 3M Company and others. In order to remain competitive in the market, core companies follow various approaches, for instance product launch, takeover, collaboration, cooperation, product growth, agreement and company expansion. For instance, Solvay boosted the manufacture of SOLEF-polyvinylidene fluoride high performance polymer (PVDF) at its China-based plant. The organization enhances its leadership in lithium-ion batteries by increasing output efficiency. The 3 M Group also introduced the first 3D printed polytetrafluoroethylene (PTFFE) of the industry at the Formnext 2019 gathering. The organization will sell upgraded online goods for the latest drug.
The global fluorochemicals market is segmented as below:
Fluorochemicals Market By Type
Fluorochemicals Market By Application
Fluorochemicals Market By End-Use Industry
Fluorochemicals Market By Geography
Middle East & Africa
Fluorochemical is compose of fluorine as a organic element. These are primarily hydrocarbons, where at least one atom of hydrogen has been replaced by fluorine.
Fluorochemical is used in a variety of sectors, including pharmaceutical, medical, agrochemical, HVACS and automotive sectors.
According to ARC, the fluorochemicals market value is anticipated to be hit around US$ 30,000 Mn in 2027.
The fluorochemicals market is anticipated to grow around 4% CAGR amid the forecast period.2020-2027
The increase in the demand for refrigerators in the residential and industrial sector and changing consumer lifestyle is the major drivers for the growth of the fluorochemicals market.
Adoption of stringent environmental regulations and greenhouse gas (GHG) emission reduction targets by several countries are a major factor expected to restraint the growth of the market.
Major players included in of fluorochemicals market report such as Daikin Industries, Ltd., DuPont, Arkema S.A., Dongyue Group Co., Ltd., Honeywell International, Inc., Halocarbon Products Corporation., Kureha Corporation, Solvay SA, Pelchem SOC Ltd., The 3M Company and others.