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Report Code: CM10631
Category : Specialty Chemicals
The global fluorochemicals market is growing, due to the increasing production of refrigeration and cooling equipment, and growth in primary aluminum output. Among the various product types, the fluorocarbons segment held the largest market share in the global fluorochemicals market in 2015. However, among the various fluorocarbons, the hydrochlorofluorocarbons (HCFCs) consumption is anticipated to decline during the forecast period, owing to stringent environmental regulations for ozone depletion and global warming causing chemicals. In the developed economies, the HCFCs are being completely phased out and similar regulations are being framed to phase out hydrofluorocarbon (HFCs). The fluorochemicals segment is anticipated to witness the highest growth in the global market during 2016 – 2022. The highest growth of the fluoropolymers segment is attributed to the increasing demand for high-performance materials, in the chemical processing, electronics, motor vehicle, and coatings. Among the various applications, the refrigeration segment held the largest share in the global fluorochemicals market in 2015, due to the high demand of refrigerants across the globe.
The significant shift in the usage of fluorocarbon products and increasing research for the development of low global warming potential (GWP) and zero ozone depletion potential (ODP) are the key trends witnessed in the global fluorochemicals market. Low penetration of fluoropolymers in many countries across the globe is creating ample growth opportunities for the global fluorochemicals market. Moreover, the growth in aluminum production, along with the production of semi-conductors, batteries and other components is also anticipated to create ample growth opportunities for high-value fluorochemicals. However, the stringent regulatory requirements especially in European Union and North America, and cost concerns regarding the manufacturing of zero ODP and low GWP fluorocarbons are expected to hinder the growth of the global fluorochemicals market to some extent.
Fluorochemicals are the chemical derivatives of fluorine, which is found in the earth’s crust. These chemicals have several applications in a number of industries including electronics, pharmaceuticals, automotive, and chemical processing. The fluorochemicals are utilized in these industries as blowing agents, air-conditioners, refrigerators, fire extinguishers and others.
Geographically, Asia-Pacific held the largest share in the global market in 2015, owing to the increasing demand for fluorochemicals in automotive, electronics and domestic appliances. China dominated the Asia-Pacific fluorochemicals market in 2015, due to the large consumer base and growing end-use industries.
Some of the key players operating in the global fluorochemicals market include Honeywell international Inc., 3M Company, DuPont, DAIKIN INDUSTRIES Ltd., ASAHI GLASS CO. LTD., Mexichem S.A.B. de C.V., Arkema Group, and Air Products and Chemicals Inc.
GLOBAL FLUOROCHEMICALS MARKET SEGMENTATION:
By Product Type