The global fluorochemicals
market size is expected to reach USD 31.21 billion by 2024, according to a new
report by Grand View Research. Growing popularity of fluoropolymers in
automotive and electronics sectors on account of exhibiting superior properties
such as good electrical insulation and tensile strength is expected to have a
positive impact on the industry.
Growing demand for aluminum in
a host of end-use industries including aviation, automotive, electronics and
healthcare is expected to drive demand. Furthermore, expansion of these
industries is expected to accelerate growth. Presence of a stringent regulatory
framework which includes critical protocols including the Montreal Protocol and
Kyoto Protocol has led to the restricted production and use of numerous
chemicals including HCFC and CFC.
In depth research report on Fluorochemicals Market
Fluorocarbons dominated the
global market accounting for over 52% of volume share in 2013. Increasing
application of refrigerants in HVAC systems is expected to drive fluorocarbons
industry expansion in the near future. Lax regulatory framework in high
potential markets of Asia Pacific, including China and India is expected to
propel product demand over the forecast period.
Fluoropolymers market is
expected to witness significant gains over the forecast period, with an
estimated CAGR of over 10.2% from 2014 to 2024. Its increasing demand in
automotive, construction and electronic applications is expected to augment
growth. Increasing construction spending, particularly in emerging economies of
Asia Pacific and Middle East is likely to drive industry growth.
Europe fluorochemicals market
accounted for over 12% of global volume share in 2013. Increasing demand for
fluoropolymers, inorganic and specialty fluorochemicals in a host of niche
applications is expected to drive demand.
Positive automotive sector
outlook in China, India and Indonesia is expected to remain favorable factor
for growth. Regulatory allowance for investment in metal sector coupled with
abundance of aluminum reserves in China and India is expected to increase the
application of aluminum trifluoride and have a positive impact on demand in the
near future.
DuPont, Solvay SA, Daikin,
Honeywell, Arkema SA, Dongyue and Asahi Glass dominated the global
fluorochemicals market share in 2013. This industry is moderately consolidated
and possesses oligopolistic nature.
In April 2012, Daikin announced
plans to launch a new fluorochemical product meant for use in touch panels and
displays. In July 2015, Solvay announced that it will supply Halar ECTFE
fluoropolymer to Amcor for manufacturing photovoltaic sheets. In June 2012,
Arkema SA announced the expansion of its manufacturing facility located in
Pierre-Benite. The expansion was aimed at increasing the production of
fluoropolymers.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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