India fluoropolymer & fluorosurfactant market is expected to reach
USD 258.5 million by 2022, according to a new report by Grand View Research,
Inc. Fluoropolymer is extensively used in numerous applications for industries
including automobiles, electrical & electronics and chemical processing
owing to its high heat resistance and excellent tensile strength. Growing
automotive sector in India on account of new product launches by vehicle
manufacturers including Toyota and Volkswagen is expected to open new market
avenues over the forecast period.
Rising awareness among citizens to curb fire emergencies coupled with
introduction and implementation of regulations by state governments is expected
to drive growth of firefighting solutions, which will promote fluorosurfactant
growth. Moreover, increasing product demand in water-based paints to increase
its wetting properties, is expected to propel industry expansion.
Chemicals & pharmaceuticals dominated the fluoropolymer market and is
expected to witness significant gains at a CAGR of 14.3% from 2015 to 2022, in
terms of volume, owing to growth of the chemical processing sector in the
country. In addition, the government has announced plans to invest USD 80
million for technology upgradation of the chemical sector as part of the
12thFive Year Plan. Growing requirement of the product in chemical processing
and pharmaceutical sectors owing to its superior chemical and thermal
resistance will propel demand in the near future.
In depth research report
on India Fluoropolymer Market
Further key findings from
the report suggest:
•
India fluoropolymer & fluorosurfactant demand was 8,300.0 tons in
2014 and is expected to reach 20,005.9 tons by 2022, growing at a CAGR of 11.7%
from 2015 to 2022. Rapid industrialization is expected to be a key factor
driving growth over the forecast period.
•
Demand for fluorosurfactant in industrial cleaning accounted for 20.6% of
the overall revenue in 2014. The product reduces surface tension, offers high
wetting of contaminate and effectively provides sustainable foams which will
drive industry size over the next seven years. Technological advancements in
industrial cleaning sector in the country will augment product demand in the
near future.
•
Key industry participants include Gujarat Fluorochemicals Ltd., Chemours,
Arkema and Hindustan Fluorocarbons Limited, Chemours, and 3M.Dyneon
Fluoropolymers from 3M can withstand extreme temperatures, endures aging and
wear & tear, and extends the life of processing equipment. Companies
including Chemguard have developed fluorotelomer-based products which do not
contain PFOS and PFOA, which will open growth opportunities in the near future.
•
Fluorosurfactants are mainly imported into the country on account of
absence of local manufacturing units. High capital investments coupled with
complex technology for manufacturing the product has resulted in the absence of
manufacturing units in the country.
Grand View Research has segmented the India fluoropolymer &
fluorosurfactant market on the basis of application
India Fluoropolymer
Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
•
Automotive
•
Electrical & electronics
•
Construction
•
Chemicals & pharmaceuticals
•
Others
India Fluorosurfactant
Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2022)
•
Paints & coatings
•
Oil & gas
•
Industrial cleaners
•
Electronics
•
Others
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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.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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