The global Fluorochemicals Market is expected to reach USD 31.21 billion by 2024. Growing setting up of HVAC arrangements in industrialized and automobile divisions is projected to increase use of refrigerants and accordingly expected to trigger the demand for fluorochemicals in the near future. The fluorochemicals industry is estimated to touch 5398.2 kilo tons by the completion of the prediction period, growing at a CAGR of 4.3% from 2014 to 2024.
Growth in demand for cooling systems and refrigeration in housing and industrialized division owing to modifications in standard of living and progress in the necessity of refrigeration for the storing of foodstuff products will expand the scope of the fluorochemicals market. Greater confrontation to carbon-based acids, bases and dilutors, presented by fluorochemicals are projected to be critical for increasing demand in the applications such as building construction, electronics and automobile, above the prediction period. Yet, there is a reliable risk from ammonia by way of a substitute creation, due to its low-slung price.
The fluorochemical industry on the source of Type of Application could span Blowing Agent, Refrigerant, Aluminum Production, Components, and Others. The subdivision of Refrigerant applications ruled the international market for fluorochemicals. It was responsible for more than 40% stake of the general capacity during the year 2013. Growing significance of unpolluted air arrangements in manufacturing business together with growing setting up of HVAC arrangements in automobiles is projected to drive the progress of the business in the nearby future.
The fluorochemicals market on the source of Type of Product shows the Manufacture, Profits, Price, Market stake, and Development percentage of respective category. The market is divided into Fluoropolymer, Fluorocarbon [HFO, HCFC, and HFC], and Specialties & Inorganics. The subdivision of Fluorocarbons ruled the market. It grabbed more than 50% stake of the international demand during the year 2013. It is projected to drop the stake to inorganic and polymer equivalents due to the strict rules in U.S.A and Canada to eliminate HCFC and CFC combinations from the usage.
The market for the subdivision of Fluoropolymers is projected to observe substantial improvements above the prediction period. It will be increasing by a CAGR of 10.2%, by means of capacity. Growing ingestion of fluoropolymers in the manufacturing of automobile, electronics and building construction because of giving greater stretchable strength and electrical protection is likely to take an optimistic influence above the prediction period.
The fluorochemicals industry on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage in these areas, for the duration of the prediction North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. By the source of geography, the Asia Pacific is the most important area in the fluorochemical market. The group of emerging markets motivating demand for fluorochemicals for the usage in diverse applications and businesses, has boosted the market in the Asia Pacific.
North America and Europe are the established markets for fluorochemicals. Guidelines through dissimilar businesses and uses for example manufacture of refrigerants, foodstuff & liquid refreshment, aluminum, plastic foams, etc. have given rise to the progress of the market within these two areas. In contrast, Latin America and the Middle East & Africa represent a comparatively reduced stake in the fluorochemicals industry because of the unpredictability of the governments, in the areas, which is impeding progress of the economy.
The statement revises Trades in terms of intake of fluorochemicals in the market; particularly in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It concentrates on the topmost companies operating in these regions. Some of the important companies operating in the field are Air Products and Chemicals Inc., Pelchem, Honeywell, Asahi Glass, Daikin, Mitsui Chemicals Inc., Dongyue, Arkema, Solvay SA, and DuPont Inc.
Fluorochemical Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)
• HFC and others
• Inorganics and Specialties
Fluorochemical Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)
• Aluminum Production
• Blowing Agents
• Components and others
Fluorochemical Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2014 - 2024)
• North America
• Asia Pacific
Research Support Specialist, USA