Fluorine chemicals market worth $25.1 billion by 2026 at 5.2% growth rate – IndustryARC

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“Market Research Reports, Business Advisory Services and Analytics”

The growing demand for HVAC systems, such as ventilation, refrigerator, and air conditioning, is expected to contribute to the market growth of the Fluorochemicals market.

IndustryARC, in its latest report, predicts that The fluorinated chemicals market The size is expected to reach $25.1 billion by 2026, after growing at a CAGR of 5.2% during the forecast period 2021-2026. Fluorine chemicals are an organic compound that contains fluorine and is widely used in electronics, refrigerators, and the automotive industry. Fluorine chemicals provide UV resistance and high durability in various applications such as air conditioners and refrigeration with excellent properties such as high tensile strength and electrical insulation. Fluorocarbons are used as fluoropolymers and refrigerants, which have very low solubility characteristics and therefore are not miscible in organic solvents like acetone and ethanol. The Fluorinated Chemicals Market Report by IndustryCRA covers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.

Competitive Landscape:

Top 5 Players in Fluorine Chemicals Industry are –

1. 3M Company,

2. Solvay SA,

3. Mitsui Chemicals Inc.,

4.DuPont,

5. DAIKIN INDUSTRIES Ltd.,

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Segmental analysis:

1. Fluorocarbons dominated with the highest share in the fluorinated chemicals market in 2020. Fluorocarbons for HFCs and HCFCs are expected to grow at a higher rate owing to their widespread application as refrigerants. Fluorocarbons like fluoropolymers are colorless and they are not miscible with most organic solvents but are miscible with some hydrocarbons.

2. The global fluorinated chemicals market size is expected to be dominated by the Asia-Pacific region with 47% share in 2020. Growing demand for HVAC systems in the automotive and construction industry is creating growth opportunities for the commercial and industrial refrigeration market.

3. Refrigeration was the leading application of the fluorinated chemicals market in 2020 and is growing at a CAGR of 7% during this forecast period. The demand for refrigerants is high, especially in developing countries such as India and China.

4. The automotive industry held the largest segment of the fluorinated chemicals market. The growing demand for aluminum, refrigerant and air conditioner is the main driver for the growth of the fluorinated chemicals market. According to OICA, the production of light commercial vehicles increased from 326,647 units in 2017 to 358,981 units in 2018, an increase of 10.2% in Brazil.

Report cover

Report attributes

Details

By product

Inorganic Fluorochemicals, Organic Fluorochemicals.

By request

Refrigeration, Metal Fabrication, Blowing Agents, Paints & Coatings, Fluids & Lubricants, Solvents & Cleaners, Surfactants, Propellants, Wire Insulation

By sector of use

Pharmaceutical, chemical industry, semiconductor industry, oil and gas industry, energy industry, building and construction, transport, electricity and electronics, textile industry, agriculture, wires and cables

By geography

North America, Europe, Asia-Pacific, South America and Rest of the World

Get more detailed information about these segments in the report. Buy it here:

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Market Drivers and Challenges:

1. Growing demand in the food industry for refrigerants: Changing lifestyles and growing demand for ready-to-eat food products are driving the market for fluorinated chemicals. The growing demand for refrigerators is needed for industrial areas as well as for the domestic sector.

2. Growing Application as Blowing Agent: Increasing application as a blowing agent is widespread in the consumer electronics industry. The consumer electronics industry is witnessing the fastest growing in the world, due to its use in various applications such as ovens, air conditioners and freezers, fueling the growth of form blowing agents in the market growth .

3. Lack of availability: It is believed that the increasing demand for household appliances with new technologies increases the value of the product, but also creates unavailability of fluorinated chemicals in the market. The demand for refrigeration and air conditioning also shows the unavailability of fluorinated chemicals like fluoropolymers and fluorocarbons.

Why IndustryARC?

IndustryARC is one of the world’s leading market research and consulting companies. It produces over 500 unique market reports every year. Get a detailed report on the preferred market according to your specific needs and our research experts will customize the report for you.

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USA: (+1) 614-588-8538, (+1) 815-656-4596

Similar reports:

A. High Performance Fluoropolymers Market

https://www.industryarc.com/Research/High-Performance-Fluoropolymers-Market-Research-500240

B. Fluoropolymers Market

https://www.industryarc.com/Research/Fluoropolymers-Market-Research-503095

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