Press release
Fluorochemicals Market 2024 Analysis on the Basis of Growth, New Trends and Current Industry Demand
Key factors driving the growth of the fluorochemicals market are growing adoption of clean air systems in residential, commercial, and industrial installations, and increasing installation of HVAC systems in automobiles. These are expected to augment the market growth in the near future.
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The expansion of infrastructure has increased commercial and residential construction resulting in the increased demand for HVAC systems in warehouses, stores, malls, households, and others. Moreover, there has been a significant increase in the demand for frozen products and fresh food, which require temperature-controlled storage units to maintain the optimum quality and for the preservation of the products.
The global automotive industry is also growing at a swift pace driven by demand for vehicles across the APAC, LATAM and European region. Furthermore, the use of fluoropolymers in fuel cells to meet the demand of high performance, lightweight vehicles is also providing novel application areas in automobiles.
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Adoption of stringent environmental regulations and greenhouse gas (GHG) emission reduction targets by several countries is likely to restrict market growth in the coming years. In recent years, the adoption of Montreal Protocol and Kyoto Protocol in Europe and North America has focused on reducing consumption of chemicals with high GWP.
Low penetration of fluoropolymers in several countries across the globe generates growth opportunities for players in the fluorochemicals market. Moreover, with the advent of growth in production of aluminum, semiconductors, batteries, and other electronic components is also anticipated to create high demand for high-value fluorochemicals.
Some of the major players operating in the global fluorochemicals market are Honeywell international Inc., 3M Company, Solvay SA, Mitsui Chemicals Inc., DuPont, DAIKIN INDUSTRIES Ltd., ASAHI GLASS CO. LTD., Mexichem S.A.B. de C.V., Arkema Group, and Air Products and Chemicals Inc.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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