The fluorochemicals market share is expected to increase by USD 6.75 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5%.
This fluorochemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fluorochemicals market segmentation by product (fluorocarbons, inorganics, fluoropolymers, and specialties), end-user (refrigeration, home and industrial appliances, aluminum, electrical and electronics, and pharmaceuticals), and geography (APAC, North America, Europe, South America, and MEA). The fluorochemicals market report also offers information on several market vendors, including 3M Co., AGC Inc., Arkema SA, Daikin Industries Ltd., Dongyue Group Ltd., Gujarat Fluorochemicals Ltd., Halocarbon LLC, Kama Holdings Ltd., Solvay SA, and The Chemours Co. among others.
What will the Fluorochemicals Market Size be During the Forecast Period?
Download the Free Report Sample to Unlock the Fluorochemicals Market Size for the Forecast Period and Other Important Statistics
Fluorochemicals Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing demand for refrigerants is notably driving the fluorochemicals market growth, although factors such as stringent regulatory guidelines may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fluorochemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fluorochemicals Market Driver
One of the key factors driving growth in the fluorochemicals market is the growing demand for refrigerants. Factors like rising global temperatures (32.5°F-33.8°F in the lowest emissions scenario and 36.7°F-40.64°F in the maximum emissions scenario) and the improving living standards of the population living in APAC and Central and South America are expected to increase the demand for residential refrigerators. The rapid economic growth in APAC and South America and the subsequent increase in the disposable income of consumers are leading to the growth in demand for a number of household appliances, including refrigerators, especially in the emerging markets of Brazil, Russia, India, China, and South Africa (BRICS) and Southeast Asian countries. The growth in the cold storage industry, mainly in developing countries, has spurred the demand for fluorocarbons used as refrigerants. It has also led to the search for new, innovative refrigerant products that cost less than the widely used traditional refrigerants and are also eco-friendly.
Key Fluorochemicals Market Trend
The expanding applications in the healthcare industry is another factor supporting the fluorochemicals market share growth. The use of fluorochemicals in the form of organic fluorochemical intermediates for the production of medicines has increased in the last two decades. In the pharmaceutical industry, sevoflurane and fluorobenzene are key ingredients used for the production of various kinds of medicines. Methyl fluoroacetate is the primary compound used to manufacture floxuridine, tegafur, 5-fluorouracil, enoxacin, tosufloxacin, and 5-fluoro-4-hydroxylpyrimidine. Another compound named ethyl fluoroacetate is used to synthesize 5-fluorouracil and 5-fluoroancymiol. Presently, China has a strong manufacturing base for aromatic fluorochemicals, such as benzotrifluorides, fluorobenzenes, fluoroanilines, and fluorotoluenes.
Key Fluorochemicals Market Challenge
The stringent regulatory guidelines will be a major challenge for the fluorochemicals market during the forecast period. The Montreal Protocol of 1989 was designed to protect the Earth’s ozone layer by phasing out the production of substances that are responsible for the depletion of the ozone layer. The 30th meeting of the Montreal Protocol on Substrates that Deplete the Ozone Layer was held in 2018. With the implementation of this regulation, hydrofluorocarbons (HFCs) were replaced with hydrocarbons and inorganic compounds (carbon dioxide and ammonia) in refrigeration and other applications like blower manufacturing and packaging. However, in the Kyoto Protocol of 1992, which implemented regulations for the reduction of greenhouse gases, fluorochemicals like HFCs and perfluorocarbons were listed among the top six greenhouse gases that are responsible for global warming and the greenhouse effect. These regulatory scenarios led to a setback for the global fluorochemicals market (mainly fluorocarbons that had the highest market share).
This fluorochemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global fluorochemicals market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fluorochemicals market during the forecast period.
Who are the Major Fluorochemicals Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- 3M Co.
- AGC Inc.
- Arkema SA
- Daikin Industries Ltd.
- Dongyue Group Ltd.
- Gujarat Fluorochemicals Ltd.
- Halocarbon LLC
- Kama Holdings Ltd.
- Solvay SA
- The Chemours Co.
This statistical study of the fluorochemicals market encompasses successful business strategies deployed by the key vendors. The fluorochemicals market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
-
3M Co. - The company offers a wide range of fluorochemicals such as Fluorosurfactant FC-4434, Fluorosurfactant FC-4432, Fluorosurfactant FC-4430, among others.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fluorochemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Fluorochemicals Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the fluorochemicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the specialty chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Fluorochemicals Market?
For more insights on the market share of various regions Request for a FREE sample now!
51% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for fluorochemicals in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing demand for fluorochemicals from end-user industries will facilitate the fluorochemicals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in the region is expected to hinder the growth of the fluorochemicals market in APAC. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, declared partial or full lockdowns owing to the outbreak of COVID-19. Lockdowns and stringent rules on social distancing and isolation affected manufacturing industries in APAC. The growth of the regional market is expected to stabilize during the latter half of the forecast period, with the ongoing vaccination drives that are aimed to lead to the containment of the COVID-19 pandemic.
What are the Revenue-generating Product Segments in the Fluorochemicals Market?
To gain further insights on the market contribution of various segments Request for a FREE sample
The fluorochemicals market share growth by the fluorocarbons segment will be significant during the forecast period. The global fluorocarbons market is expected to grow at a faster rate than the global fluorochemicals market due to the increase in demand for fluorocarbons worldwide for use in various applications like blowing agents, packaging, solvents, refrigerants, and aerosol propellants.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fluorochemicals market size and actionable market insights on post COVID-19 impact on each segment.
|
Fluorochemicals Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
|
Market growth 2021-2025 |
$ 6.75 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
3.10 |
|
Regional analysis |
APAC, North America, Europe, South America, and MEA |
|
Performing market contribution |
APAC at 51% |
|
Key consumer countries |
China, US, Germany, Japan, and Russian Federation |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
3M Co., AGC Inc., Arkema SA, Daikin Industries Ltd., Dongyue Group Ltd., Gujarat Fluorochemicals Ltd., Halocarbon LLC, Kama Holdings Ltd., Solvay SA, and The Chemours Co. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Fluorochemicals Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive fluorochemicals market growth during the next five years
- Precise estimation of the fluorochemicals market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the fluorochemicals industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fluorochemicals market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch