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The global fluorochemicals market reached a value of about USD 24.44 billion in 2023. The industry is further expected to grow at a CAGR of about 4% in the forecast period of 2024-2032 to reach a value of around USD 34.80 billion by 2032.
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The Asia Pacific region is expected to dominate the global market due to the massive electronics manufacturing base and rising establishments of central air models in buildings and cars. The increase in consumer base in the region and the increase in disposable income are adding opportunities for the commercial refrigeration market in the Asia Pacific region, which adds to the demand for fluorochemicals. Countries contributing majorly to the Asia Pacific market include China, Japan, and India. The rise in installations of HVAC systems in infrastructure and automotive industries may drive the regional industry growth further. Fluor technology products are widely used in the construction and building sector to provide anti-corrosion, high durability, and UV resistance to materials such as architectural membranes and coatings, caulks, and wire and cable. The abundance of aluminium reserves in China, India, and Australia, and the regulatory inclination to promote FDI in the domestic metal sector, are expected to increase its application in the region. The emergence of advanced technology in industries is also a reason for the market's growth in this region.
Among the product types, fluorocarbons are expected to observe significant growth in the coming years as it is widely used in propellants, blowing agents, refrigerants, and solvents. Rising concerns regarding ozone depletion may negatively impact the product demand. However, major manufacturers are formulating less harmful fluorochemical substitutes, which will surge the product demand.
On the other hand, fluoropolymers are expected to witness significant gains over the forecast period. The growing consumption of fluoropolymers in sectors like electronics, construction, and automotive, on account of properties including high tensile strength and electrical insulation, is expected to impact the segment growth over the forecast period positively.
Fluorochemicals are chemical substances that contain a significant amount of fluorine. Fluorochemicals are used in various industrial applications, such as air conditioning and refrigeration, aluminium production, electrical and electronics, personal care, and other applications such as fluorocarbons, fluoropolymers, and inorganic fluorochemicals because they have good thermal stability, high resistance, and chemical reactivity.
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By product, the market is divided into:
The major applications of the market include:
The end-uses of the market are:
The regional markets for the fluorochemicals market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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The rise in demand for refrigerators and cooling systems in the industrial and domestic sector due to changes in lifestyle and growth in refrigeration need for convenience food products storage will drive the market demand for fluorochemicals. The growing use of HVAC systems in the manufacturing and automotive industries is predicted to increase refrigerant usage and, as a result, fluorochemical demand. Fluorochemicals' high resistance to organic solvents, bases, and acids is a critical feature that will drive product demand in automotive, electronics, and construction applications over the forecast period. However, the credible threat of ammonia as a substitute product due to its low cost and regulatory developments may limit the expansion of the fluorochemicals market in the coming years.
Application potential in the pharmaceutical industry, owing to its non-flammable properties, is likely to act as a key driving factor toward industry growth. It is prominently used as anaesthesia in dental care. An increase in research and development expenditure, mainly in the pharma industry, to develop novel product ranges will propel industry growth further. Growth in departmental stores, hypermarkets, and supermarkets has led to a rise in the need for proper storage facilities for perishable food products, which will likely contribute to the market growth.
The report gives a detailed analysis of the following key players in the global fluorochemicals industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global fluorochemicals market attained a value of nearly USD 24.44 billion.
The market is projected to grow at a CAGR of 4% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 34.80 billion by 2032.
The major drivers of the market include the rising establishments of central air models in buildings and cars, increase in disposable income, the emergence of advanced technology, lifestyle changes, increase in research and development expenditure, and growth in departmental stores, hypermarkets, and supermarkets.
The rise in demand for refrigerators and cooling systems in the industrial and domestic sectors and the growing use of HVAC systems in the manufacturing and automotive industries are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The market is categorised into fluorocarbons, fluoropolymers, inorganic chemicals, speciality organics, and gases based on product.
The product finds end-uses in refrigerant, blowing agent, aluminium production, and, surfactants, among others.
The product finds end-uses in electricals and electronics, petrochemicals, and aerospace.
The major players in the industry are Orbia Advance Corporation S.A.B. de CV, 3M Company, AGC Group, DuPont de Nemours, Inc., and Halocarbon, LLC, among others.
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