Market Segmentation:
The elemental fluorine market has been segmented based on form, application, and region. By application, the global market has been divided into metallurgy; glass & ceramics manufacturing; electronics & semiconductors; polymer manufacturing & processing; nuclear fuel; and others. The metallurgy segment accounted for the largest market share and is expected to register the highest CAGR during the forecast period. The growth is attributed to its increasing demand from the metal industry. The segment is expected to hold more than one-third of the market value share and is expected to continue the same trend during the forecast period. However, the nuclear fuel segment is also expected to add to the growth of the global market and is expected to register a moderate CAGR during the review period.
Based on form, the global market has been divided into α-Fluorine and β- fluorine. The α-Fluorine segment accounted for the largest market share of the global elemental fluorine market in terms of volume and value owing to its excellent properties. The β- fluorine segment is expected to witness moderate growth in the global elemental fluorine market owing to its increasing application in metallurgy and nuclear fuel.
The global elemental fluorine market has been classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to hold the largest share of the global elemental fluorine market on account of the growth of the end-user industries in the region, especially metallurgy, sulfur hexafluoride manufacturing, and nuclear fuel. China is expected to hold more than two-thirds of the market value share in the Asia Pacific market.
North America and Europe are expected to be the prominent markets for elemental fluorine due to the increasing demand in the chemical industry. The regional markets are expected to witness high demand during the forecast period. The Latin American and Middle East & African markets are likely to register moderate growth during the review period as a result of the growing end-user industries in the regions.
Competitive Analysis
Some of the key players operating in the global elemental fluorine market are Pelchem SOC Ltd (South Africa), Kanto Denka Kogyo Co., Ltd (Japan), The Linde Group (Ireland), Solvay S.A (Belgium), Navin Fluorine International Ltd (India), Air Products & Chemicals, Inc (US), and Advance Research Chemical Inc (US), among others
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