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Fluorochemicals Market is expected to reach USD 29.55 Billion by 2027, according to a new report by Reports and Data

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Fluorochemicals Market is expected to reach USD 29.55 Billion by 2027, according to a new report by Reports and Data

February 16
17:54 2021
Fluorochemicals Market is expected to reach USD 29.55 Billion by 2027, according to a new report by Reports and Data
Growing requirement for refrigerants and the rising adoption of cold storage systems are the significant factors predicted to spur the market growth. Market Size – USD 19.85 billion in 2019, Market Growth – CAGR of 5.1%, Market Trends – A significant surge in aluminum production

The global fluorochemicals market is expected to be valued at USD 29.55 Billion in 2027 from USD 19.85 billion in 2019, registering a CAGR of 5.1% through the forecast period. Fluorochemicals are chemical compounds significantly comprising fluorine and hydrocarbons. The most commonly used fluorochemicals include fluorocarbons, specialty fluorochemicals, fluoropolymers, hydrochlorofluorocarbons (HCFCs), and various others. The predominant applications of fluorochemicals include refrigeration, aluminum production, and blowing agents, among numerous other applications.

Revenue from the global fluorochemicals market is expected to increase profoundly over the forecast period, owing to various favorable factors. The escalating need for refrigerants and cold storage systems across a wide range of industries, including pharmaceutical, food & beverage, aerospace, electrical & electronics, and various others, is one of the factors indispensable to the global market growth. The significantly rising atmospheric temperatures due to GHG (greenhouse gas) emissions and global warming have further prompted the need for refrigeration in these industries to preserve product quality.

Key industry participants include:

3M, Daikin Industries, DuPont, Solvay SA, Honeywell, Pelchem, Dongyue, Archema SA, Halocarbon Products Corp., and Mexichem.

The growing commercial applications of refrigeration/cooling systems, such as supermarkets and departmental stores, to preserve perishable foods have boosted the demand for fluorochemicals. The other vital parameters contributing to the market growth are the growing installation of HVAC systems, expanding cold chain logistics sector, increasing applications of organic fluorochemicals in the pharmaceuticals, food & beverage, and automotive sectors, and the widespread use of fluorochemicals as anesthetic agents in dental procedures. Fluorochemicals are characterized by their superior electric properties, high resistance to acids and solvents, and non-adhesiveness. Moreover, they are extensively utilized in medical implants due to their excellent biocompatibility. However, the rising environmental concerns regarding the use of fluorochemicals, mainly fluorocarbons, act as a critical market restraint.

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Key findings of the report:

  • Based on the product type, the fluorocarbons sub-segment is expected to lead the global fluorochemicals market in the upcoming years, accounting for a significant market share. The rising applications of fluorocarbons in refrigerators, cold storage systems, HVAC systems, and air conditioners fuel the growth of this segment.  
  • In terms of application, the refrigerants sub-segment, which accounted for the largest 45% market share by 2019, is projected to continue as the leading market segment over the forecast period. The growing requirement for clean air systems and the increasing usage of HVAC systems in automobiles and aircraft have substantially boosted this segment’s growth.
  • The Asia Pacific region is touted as the key regional segment in the global fluorochemicals market, with a staggering 40% market share by 2019. The flourishing automotive and aerospace sectors, particularly in the emerging economies of India, China, Malaysia, and Indonesia, the rising applications of refrigerants in automotive HVAC systems, increasing usage in aluminum production, and vast aluminum reserves in India, China, and Australia, are the pivotal factors behind the Asia Pacific market growth.

For the purpose of this study, the global fluorochemicals market has been segmented on the basis of product type, application, end-user, and region:

By Product Type (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Fluorocarbons
  • Fluoropolymers
  • Inorganic fluorochemicals
  • Organic fluorochemicals
  • Fluoroelastomers
  • Others

By Application (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Refrigerants
  • Blowing Agents
  • Agrochemicals
  • Propellants
  • Lubricants
  • Surfactants
  • Aluminum Production
  • Specialty Chemicals
  • Components
  • Others

By End-user (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Pharmaceuticals
  • Food & Beverages
  • Chemical
  • Petrochemicals
  • Aerospace
  • Electrical & Electronics
  • Automotive
  • Paints & Coatings
  • Textiles
  • Architectural
  • Others

By Region (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Egypt
    • Rest of MEA


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 Table of Content:

Chapter 1. Market Synopsis
    1.1. Market Definition
    1.2. Research Scope & Premise
    1.3. Methodology
    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Fluorochemicals Segmentation & Impact Analysis

    4.1. Fluorochemicals Material Segmentation Analysis
    4.2. Industrial Outlook
         4.2.1. Market indicators analysis
         4.2.2. Market drivers analysis
                 4.2.2.1. Rapid Growth in the Geriatric Population
                 4.2.2.2. Rising Innovation in Fluorochemicals Products
                 4.2.2.3. Increased Incidence of Diabetes & Associated Chronic Wounds
         4.2.3. Market restraints analysis
                 4.2.3.1. High cost of products for Fluorochemicals
    4.3. Technological Insights
    4.4. Regulatory Framework
    4.5. ETOP Analysis
    4.6. Porter’s Five Forces Analysis
    4.7. Competitive Metric Space Analysis
    4.8. Price trend Analysis

Chapter 5. Fluorochemicals Market By Product Type Insights & Trends

    5.1. Product Type Dynamics & Market Share, 2020 & 2027
    5.2. Moist Wound Dressings

Continue…

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