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Fluorochemicals Market Research Report – Forecast to 2030

Fluorochemicals Market Global Information: By Product (Fluorocarbons, Fluoropolymers, Inorganics & Specialties), Application (Refrigeration, Aluminum, Automobile, Films, Tubings, Blowing Agents and Others) - Forecast till 2030

ID: MRFR/CnM/1025-CR | September 2018 | Region: Bric | 293 pages

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Fluorochemicals Market Overview

MRFR (Market Research Future) expects the Global Fluorochemicals Market to touch USD 36,755.7 MN by 2030, jumping from the valuation of USD 25,902.7 MN it had reached in 2017.

Fluorochemicals are hydro chemicals that contain substances like fluorine. Medical and dental industries have higher usage of fluorochemicals. Manufacturing of these products is higher. Plasma etching uses the semiconductor light bulbs these lights require this crucial chemical. The growing world population contributes to the rising demand for fluorochemicals.

There are fewer licensed grades of these chemicals available in many places. The need for this chemical is high in electrical and electronic industries. The manufacture of fluoroplastic is required for the moulding, transfer and moulding process. The properties of the fluorochemicals are beneficial for many applications. Corrosion resistance, heat resistance and UV resistance are key features of this product.

The pharmaceutical industry has had high usage of fluorochemicals in recent years. The need for this chemical in various drugs production is rising. In recent years, new drugs developments are massive. New viruses and diseases surge the need for these drugs. Due to this, clinical research has a higher need for fluorochemicals. All these factors are expected to increase the fluorochemicals market value by 27.3 billion. 

Covid analysis 

The outbreak of covid 19 is causing many challenges to industries worldwide. Demand for fluorochemicals is declining in this period. The speeding of various end-users have been reduced. The need for this chemical is decreasing in many regions. Also, the supply of the product is limited in this pandemic. Various fluorochemicals manufactures are affected in this period.

The declining demand trend is affecting the overall growth of fluorochemicals industry. The regional players in Asia pacific have more challenges. The delayed demand and product deliveries lead to revenue losses. The approval for a new grade of fluorochemicals is restricted in this period. It is affecting the overall expansion of this market in the forecast period. Limited manpower and production are some of the other factors that reduce demand. In upcoming years, the demand for fluorochemicals is expected to rise immensely. The demand from pharmaceutical and other markets will rise. Also, with less supply chain disruption product delivery will be smooth. Emerging nations play a crucial role to regain the growth of this market in the next few years. 

Market dynamics 

  • Crucial market drivers 

The growing demand for refrigerants is raising the need for fluorochemicals. The need for ventilation is growing in both commercial and residential sectors. Fluorochemicals are used in various refrigerants. The need for this chemical is rising in developing and developed nations. The use of this chemical in refrigerants is growing every higher. The HVAC systems will have wider utilization of this chemical. All these factors will contribute to the market profits.

Furthermore, the expansion of the automotive industry is another crucial driver for the market. The need for these materials is higher in the automotive sector. Fluor materials provide high capacity and high power in automobiles. They are also used to enhance the safety of vehicles. Especially, fluoropolymers are created from the chemical for electric vehicles. They are reliable and beneficial chemicals in the automotive industry.

Heat resistance in fluorochemicals expands its usage in many automotive companies. The demand for this user end will lead to the high growth of this market. Further, the need for fluorochemicals in the electrical market is surging. Increasing production of electronic products is raising the need for this product. Cable insulation and tube extrusion are applications requiring this product. All these crucial divers of the market will contribute fluorochemicals market growth

  • The market growth opportunities 

Fluorochemicals are known as bio-accumulative poisons. The applications of this chemical associated with nuclear energy and global warming are higher. These applications will increase the growth opportunities of this market. Fluoride is the only chemical that is less harmful to the environment. It has low global warming potential. The alternatives of the material are highly harmful to the environment. Due to this, the use of fluorochemicals will rise in upcoming years. Moreover, fluororgnanics and chemicals in pharmaceutical are raising developments in this market. New products and processes are expected due to this wide range of applications. Many medical productions are taking advantage of these chemicals to create new and effective drugs.

The increasing number of new products launched in the market will attract many end-users. The rising potential of fluorochemicals in water repellents will lead to growth. The silicon and hydrophobic chemicals have higher surfaces. Fluorochemicals have a much lower surface. These chemical fabrics are much softer, smooth and flexible. The use of this material is rising in textiles, raincoats and sportswear. Durability and breathability are a few features that increase usage. All these factors will create promising growth opportunities in the market. 

  • The market restraints 

The stringent rules regarding the usage of fluorochemicals are restraining factors of this market. The manufacture of these chemicals requires various regulations. Fluoropolymers require many compliance standards by the government. The production process is delayed due to various compliance methods.

 There are fluorochemicals acids used in various non-stick vessels. These materials contain some of the harmful substances of fluorochemicals. All these factors can decrease the production rate. Also, the less production rate can affect the supply chain. The delayed deliveries in many regions can cause hindrance to the growth rate. Also, lower adoption rates are expected in the market in upcoming years. 

  • The market challenges 

Lesser penetration of the fluorochemicals in developing nations is another restraining factor. Fluorochemicals have a high requirement in developing nations. The products and applications are a wide range. Growing population and production increases the need for this market. However, the penetration of the chemical is less.

Also, the lack of awareness in various markets is a limitation of the market. The need for high penetration and awareness of the product is essential. In upcoming years, key players are rising they are innovative to create more awareness. Still, these factors can have a declining effect on the market demand. 

  • Cumulative growth analysis 

Fluorochemicals market trends is stable in the forecast period. There are plenty of factors that raise the overall demand of this market. The fluoropolymers segment of the market is witnessing high demand in recent years. These polymers are used in the automotive industry. The need for this product is higher in the refrigerants and pharmaceutical sectors. Further, the crucial drivers of the market constantly boost the demand.

The higher need for HVAC systems and ventilation raise a driver for the market. Also, the requirement for fluorochemicals is rising in the electrical and electronic market. Stringent governmental rules are a restraining factor of the market. Also, a lack of awareness hampers the overall demand. The overall growth of the market is substantial in the forecast period. 

  • Value chain analysis 

Asia Pacific region leads the fluorochemicals market. The rising use of HVAC installations in the automotive sector is a crucial driver of the market. Also, it is a region with the highest fluorochemicals market Share.High disposable income is another factor responsible for massive market growth.

 The technological developments are bringing more scope for the fluorochemicals market. The customer base for the fluorochemicals market is vast. All these factors will contribute to the high revenue rates of the market in the forecast period. Research and development will continue to boost growth in this region. 

Segment overview 

By product 

  • Organic Fluorochemicals

  • Inorganic Fluorochemicals

By application 

  • Paint strippers 

  • Refrigeration 

  • Aluminium production 

  • Tubing 

  • Films 

By type 

  • Fluoropolymer additives 

  • Elemental fluorine 

  • Fluroeslatmers 

  • Specialities and inorganic 

By end-user 

  • Chemical processing 

  • Electronic processing 

  • Pharmaceuticals 

  • Construction 

  • Industrial equipment 

  • Consumer goods 

By geography 

  • Asia pacific 

  • Europe 

  • North America 

  • South America 

Competitive landscape 

The competition in the fluorochemicals market is increasing in the forecast period. There are few key players in the competitive landscape with plenty of initiatives. Market expansions, acquisitions, mergers and collaborations are crucial strategies in the competitive landscape. All these developments will create a favourable impact on the market. 

Regional analysis 

The fluorochemicals market is fragmented into Asia Pacific, Europe and North America. Asia pacific is a dominating region with the highest number of shares. There are high investments and key players in this region. Overall performance of the market is exceptional with high growth opportunities.

China is the largest vehicle market in the globe. It is a region contributing to the high demand for fluorochemicals. Due to these reasons, these key players will contribute to the high revenue rate of the market. Europe is another region with a high need for HAVC. Due to this, the need for these chemicals is surging. North America is an early adopter of fluorochemicals. The widespread use will contribute to the high profitability of the market. 

The key players of the fluorochemicals market are 

  1. Air Products and Chemicals Inc

  2. 3M Company

  3. Arkema Group

  4. Solvay SA

  5. Mexichem S.A.B. de C.V.

  6. Mitsui Chemicals Inc



Recent Developments

  • December 2021- A-Gas, a well-known name in the supply & lifecycle of refrigerants and related services, has acquired Salience Solutions Pty Ltd.’s whole business along with the intellectual property. This acquisition should add to A-Gas’ in-house destruction capacity in view of the addition of the PyroPlas plasma arc destruction technology, which has fluorocarbon as well as non-fluorocarbon use-cases.

  • June 2021- Arkema launches its latest sustainable Kynar PVDF (Polyvinylidene fluoride) line. The new grades are made of completely renewable carbon sourced from crude tall oil bio-feedstock.
    Kynar CTO PVDF grades has used the mass balance method that is under the ISCC+ certification technique and will be deve.oped in the company’s Pierre-Bénite unit in France. The unit will be focused majorly on grades targeted primarily for the lithium-ion battery sector. The company is taking a massive step ahead, making fluoropolymer grades using only bio-sourced carbon.

  • October 2020 – Piramal Pharma Limited entered into an agreement with Navin Fluorine International Limited, with the aim to bolster its share in Convergence Chemicals Private Limited to 100%. The agreement will entail Piramal Pharma purchasing Navin Fluorine's stake of 49% in CCPL.

  • November 2020 – AGC Inc. (Tokyo) confirmed that its product, Fluon (R) ETFE fluoropolymer film’s installation on the SoFi Stadium’s roof in the United States. Fluon (R) ETFE film offers a host of appealing properties such as impressive weather and heat resistance along with high optical transparency.

  • Piramal Enterprises Limited concluded the takeover of Convergence Chemicals Private Limited for a total registered capital of Rs65.10 crore. During trading, the stock price was up. Each company's shares were trading at Rs1903.50 on the BSE, up Rs44.70 or 2.40 percent from its earlier estimate of Rs1,858.80. It already has surpassed the previous day's maximum of Rs1910 per piece.

Report overview 

  1. Market overview highlights 

  2. Analysis based upon COVID 19

  3. Explanation upon the Market Dynamics

  4. Value chain analysis

  5. Market segmentation overview

  6. The regional analysis

  7. Competitive landscape analysis

  8. Recent Developments

Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 25,902.7 Million
  CAGR   2022–2030: Substantial CAGR
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Fluorsid SpA,Gujarat Fluorochemicals Ltd,Halocarbon Products Corporation,DowDuPont,SRF Limited,KUREHA CORPORATION,Solvay, Arkema SA, 3M,Daikin Industries Ltd, The Chemours Company, Alufluor AB
  Key Market Opportunities   Hydrofluorides’ Rising Demand in Developing Regions to Offer Opportunities
  Key Market Drivers   Refrigeration and Automobile Industries to Generate High Demand

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Frequently Asked Questions (FAQ) :

The valuation of the global fluorochemicals market is projected to escalate to USD 36,755.7 MN by 2023, from USD 25,902.7 MN in 2017, growing at 6.10% CAGR during 2020-2030.

Asia Pacific holds the largest share in the global Fluorochemicals market followed by North America and Europe, respectively.

Gujarat Fluorochemicals Ltd, SRF Limited, Alufluor AB, The Chemours Company, Halocarbon Products Corporation, Daikin Industries Ltd, Kureha Corporation, Fluorsid SpA, DowDuPont, Arkema SA, Solvay, and 3M, are some of the major players operating in the global Fluorochemicals market.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global fluorochemicals market adopt to gain a larger competitive advantage.

Global Fluorochemicals Market: Competitive Landscape

Some of the key players operating in the global fluorochemicals market are Gujarat Fluorochemicals Ltd (India), SRF Limited (India), Daikin Industries Ltd (Japan), Alufluor AB (Sweden), Fluorsid SpA (Italy), Halocarbon Products Corporation (US), Kureha Corporation (Japan), Arkema SA (France), DowDuPont (US), 3M (US), Solvay (Belgium), and The Chemours Company (US).

The Chemours Company (US), Solvay (Belgium), SRF Limited (India), Daikin Industries Ltd (Japan), and Arkema SA (France) collectively holds the largest market share of the global fluorochemicals market. There is intense competition among these players to capture the larger market share. The market players are adopting various strategies such as product development, business expansions, and acquisitions to outperform their competitors and serve the increasing demand for refrigerants and fluoropolymers in major end-use industries. Among them, capacity expansions, acquisitions, and product launches were the most widely used growth strategies in 2017.

The Chemours Company is a holding company that provides performance chemicals. The company’s fluoroproducts segment supplies refrigerants and industrial fluoropolymer resins. In May 2018, the company signed a distribution agreement with Arkema to offer its XP40 (R-449A) refrigerant in the European Union to meet the growing demand for low global warming potential refrigerants under the F-Gas regulation.

Solvay is engaged in the manufacturing and distribution of chemical and plastic products. The company manufactures aromatic polymers, high barrier polymers, and fluoropolymers, among others, under its advanced material business segment. In March 2018, the company agreed to sell its Porto Marghera hydrofluoric acid plant in Italy to Alkeemia, a part of the Fluorsid Group. This would help Solvay focus on its core products. In November 2017, the company inaugurated its Solef polyvinylidene fluoride plant in China to meet the growing demand in automotive and transportation and other industrial applications.

SRF Limited is engaged in the manufacturing of industrial and specialty intermediates. It offers a vast variety of products such as fabrics, refrigerants and propellants, fluorochemicals, industrial chemicals, specialty chemicals, and engineering plastics. In November 2017, SRF acquired the hydrofluorocarbon (HFC)-125 assets and technical know-how of the UK-based Mexichem S.A.B. de C.V., one of the largest fluorochemicals producers in the world.  This growth activity will help the company expand its refrigerants product portfolio and strengthen its presence in the global refrigerants market. In April 2016, the company set up a plant for manufacturing of its new-generation hydrofluoroolefin, HFO 1234yf, using its in-house R&D capabilities. This step will enable the company to reinforce its expertise and widen its portfolio of refrigerants.

Daikin Industries Ltd is a leading manufacturer of air conditioning equipment. It offers air conditioning systems for rooms, office buildings, facilities, and plants. The company also provides freezers, air purifiers, fluorocarbons, fluoroelastomers, fluoropaints, oil hydraulic pumps, cooling equipment and systems, and warheads for missiles, among others. In September 2017, the company introduced a new fluoropolymer under the brand name Neoflon VT-6630 which is a copolymer of tetrafluoroethylene and vinylidene fluoride. The product is suitable for use in electronic devices, seals, gaskets, and tubes owing to its high dielectric and good mechanical properties at high temperatures. In August 2017, the company acquired the Italian Heroflon SpA, a manufacturer of high-performance fluoropolymers. This growth activity will enable Daikin to increase the sale of its fluoropolymers and fluoroelastomers.

Arkema SA manufactures and supplies chemical products. It offers fluoropolymers under its high-performance materials segment for various applications such as automotive and electronics. In April 2018, the company opened a new Kynar fluoropolymer facility in Calvert City, Kentucky (US), to meet the growing product demand in emerging applications such as water filtration. In April 2017, the company opened a new Kynar fluoropolymer facility in Changsu, China, to meet demand in energy and water management applications.