Fluorochemicals Market by Product (Fluoropolymers, Specialty, Fluorocarbons, and Inorganics) and by End-user (Aluminum Production, Home & Industrial Appliances, Refrigeration, Pharmaceuticals, Electrical & Electronics and Other End Users) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global fluorochemicals market expected to reach USD 24.97 billion in 2024; it is anticipated to grow at a CAGR of 5.1% between 2018 and 2024. Fluorochemical offers versatile properties such as high durability, anti-corrosion, and UV resistance in various applications.

26-Jul-2018 | Number of pages: 110 | Report Code: ZMR-2659 | Report Format : | Status : Published

Analysis

Fluorochemicals are the group of compounds which are manufactured by mined fluorite. Fluorite is also used in the manufacturing of sodium fluoride, nickel difluoride, cobalt difluoride, and potassium fluoride. These fluorochemicals are further used to manufacture several other products such as fluoropolymers, specialty, fluorocarbons, and inorganics. They are used as a cooling solution in the electronics and energy industries. In addition, it has high resistance towards organic solvents, bases, and acids. Therefore, fluorochemicals are widely used in several end-use industries such as aluminum production, home & industrial appliances, refrigeration, pharmaceuticals, electrical & electronics, and others. 

The global fluorochemicals market is estimated to grow at the fastest pace with increasing demand for refrigerants across the globe. The rising demand for fluorochemicals from the automotive industry for several applications is anticipated to drive the demand for fluorochemicals globally. However, due to the environmental regulations across the globe, the fluorochemicals market is anticipated to have both positive as well as negative effect. 

Global Fluorochemicals Market

Fluorochemicals market is segmented on the basis of type and end user. In terms of type, the global market is classified into fluoropolymers, specialty, fluorocarbons, inorganics, and others. The increasing demand for fluorocarbons for various applications such as in propellants, blowing agents, refrigerants, and the solvent is expected to grow substantially in the coming years. Fluorocarbon amongst the other types contributed the largest share in 2017 and is likely to maintain its position in near the future. The fluorochemicals market based on end users includes aluminum production, home & industrial appliances, refrigeration, pharmaceuticals, electrical & electronics, and others. Refrigeration is the dominating end user and is estimated to continue its dominance in the forecast period. The refrigeration end user accounted for around 28% of fluorochemicals demand in terms of revenue in 2016. The rising demand for refrigeration in several chemical and other industries is expected to drive the global fluorochemicals market. 
  
The geographic analysis of fluorochemicals market includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific was the largest contributor to the global fluorochemicals market and is expected to continue its dominance over the next few years. The market witnessed a high demand for fluorochemicals with the rising demand for installations of HVAC systems in infrastructure and automotive. Moreover, the Fluor Technology products provide versatile properties such as high durability, anti-corrosion, and UV resistance to materials such as caulks, architectural membranes & coatings, and wire & cable. Thus, these products are widely used in the construction sector, thereby, increasing the demand for fluorochemicals. The technological advancements in the process of fluorochemicals are likely to boost its adoption globally during the forecast period. Furthermore, the growing demand for key consumers of aluminum production and home & industrial appliances is expected to increase the demand for fluorochemicals globally.   

The fluorochemicals market consists of a large number of players and is highly fragmented. These players are primarily focusing on novel products and material offerings. Companies involved in this market are 3M Company, DuPont, Honeywell, Solvay SA, Pelchem, Mexichem, Arkema SA, Dongyue, Daikin Industries, and Asahi Glass Company, among others.


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