Global Fluorochemicals Market Key Players by 2024: Dupont, 3M, Daikin, Pelchem, Mexichem, Solvay, Asahi Glass, Halocarbon products and Arkema

Inorganic fluorochemicals market size is estimated to reach up to USD 4 billion in sales by 2024. Increasing usage of sodium fluoride in dental care as a toothpaste additive owing to its functional benefits of preventing cavities and making teeth stronger and more resistant to decay will promote product demand.

Fluorocarbons market size from HFO (Hydrofluorocarbon) may witness steady gains at over 9%. Increasing preference over other fluorocarbons owing to favorable regulatory policies by EU Commission for adoption in mobile air conditioning systems to reduce emissions will have positive influence on fluorochemicals demand.

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Growth in development of efficient storage which requires commercial cooling systems for packaged and frozen food will drive fluorochemicals market size in refrigerants application. Rising installations of HVAC and air-conditioning systems in automotive and household applications should promote product demand. Increase in vehicle production with technical advancements may act as another driving factor towards industry growth.

Increasing applications of blowing agent in foamed plastics manufacturing which are further used in variety of applications including weight reduction, convenience, comfort, cushioning and energy dissipation in automotive and electronics industry will have positive influence on fluorochemicals market growth. Key players are engaged in formulating low global warming potential (GWP) blowing agent for polyurethane foams which may stimulate product demand.

Growth in aluminum production to cater its demand in various end use industries including transportation, electronics, construction and foil & packaging may contribute towards industry growth. Fluorocarbon are used for aluminum production through electrolysis which is a cost effective and energy efficient. Favorable FDI policies are likely to boost aluminum production which may favor fluorochemicals demand.

In addition to the R&D activities, companies have been framing long-term plans to increase their manufacturing capacities and introduce a widespread range of products. Validating the aforementioned fact, the Indian refrigerant manufacturer, Gujarat Fluorochemicals had recently expanded its refrigeration gas facility to increase its existing production capacity and extend its reach across the Indian sub-continent. Such strategic business initiatives are expected to generate lucrative opportunities across the emerging economies, charting out a positive growth path for Asia Pacific fluorochemicals market. Reportedly, driven by the contribution of its major revenue pockets including China, India, and South Korea, APAC fluorochemicals industry size is expected to cross 2.5 million tons of production by the end of 2024.

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Fluorochemicals market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:
By Product
• Fluorocarbon
• HFC
• HCFC
• HFO
• Fluoropolymer
• Inorganic Fluorochemicals

By Application
• Refrigerant
• Blowing Agent
• Aluminum production
• Components & others

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The European region is extensively under scrutiny when it comes to fluorochemicals industry. Merely a few days before, the EPA listed fluorochemicals under hazardous substances taking into account the impact of its toxicity on environmental status. In consequence, major companies are looking forward to bringing forth a spate of alternative refrigerants that may not harm the environment. Despite the strict regulatory scenario however, Europe will register an annual growth rate of more than 3% over 2018-2024, owing to the surging use of fluorochemicals in medical implants and automotive applications.

The frequent launch of highly advanced products with low GWP is likely to propel the industry growth over the years ahead. Most of the contenders of fluorochemicals market have been working to adopt advanced technologies to increase production capacity. Additionally, they have also been working to implement numerous other strategies such as new product development, JVs, and acquisitions to achieve a competitive position in fluorochemicals industry. With the rise in manufacturing facilities, the affordability of refrigerants would gradually increase, considerably influencing fluorochemicals market size, which is expected to generate a revenue of USD 70 billion by the end of 2024.

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