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fluorochemicals Market in U.S. to showcase appreciable growth rate through 2024
Fluorochemicals Market
by rising urbanization of cities coupled with demand for refrigeration & air conditioning in residential, industrial, and commercial sectors. Rising standards of living across the globe has fueled the adoption of refrigeration systems, such as portable ACs, chillers, domestic cooling systems, etc. Also, increasing installations in industries to preserve industrial equipment requiring cold surroundings will also fuel industry growth.
Fluorochemicals have unique chemical properties, which makes them well suited for an expansive range of applications. They are used in production of several types of plastics, in synthesis of pharmaceutical products, agrochemical compounds, lubricants, textiles, etc.
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Inorganic fluorochemicals, such as AIF is widely used for energy efficient and cost-effective production of aluminum. Aluminum is a lightweight metal, which is being highly demanded across the automotive industry for achieving light weighting in manufacturing of vehicle components. In addition, usage of aluminum has increased in the automotive sector due to enactment of strict regulatory norms for vehicular emission, which will further support industry expansion.
Expansive application scope of fluorochemicals in healthcare industry as a potential active ingredient for medicinal formulations may also support product demand. Performance characters of fluoropolymers such as lubricity, low binding, chemical inertness, and biocompatibility makes them fit for manufacturing of medical devices.
Expansion of healthcare industry along with continuous quest for potential alternatives for drug formulation is likely to boost industry growth.
Fluorochemicals market share from components applications is likely to accumulate over USD 25 billion through 2024. Fluorine polymers when blended with other polymers, impart high surface energy in components made from blends. This high surface energy further provides components with additional lubricity and water repellency characteristics. Fluorine polymers also find application in electronic industry for manufacturing of semiconductors, monitors, and screen display.
U.S. HFO industry is likely to generate a profit of more than USD 10 billion by the end of the analysis period. The ban on non-essential use of fluorocarbons is speeding up technological innovations to develop alternative solutions, which will positively impact product penetration. Development of new equipment for the production of HFO , along with increasing usage of HFO in aerosol propellants, in blowing agent for the production of foam, and in solvents for precision cleaning is likely to supplement fluorochemicals industry share.
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From refrigerants application, China fluorochemicals industry is forecast to showcase growth rate of more than 6% over the projected timeframe. Increasing investments in public and residential infrastructural projects have led to increase in installations of air conditioners and internal cooling systems. Expanding real estate sector in China will also have a positive impact on regional industry growth. In addition, China is the largest producer of fluorspar, which is a key raw material for the commercial production of fluorocarbons.
Arkema, Mexichem, Pelchem, Dupont, Asahi Glass, 3M company, Honeywell Inc, Solvay S.A., Halocarbon Product Corp. and Dongyue Group are the key players contributing towards expansion of fluorochemicals market. The industry players are undertaking collaborations, partnership, and mergers, and various other strategies to capture a wider customer base and promote feasible conditions for the market growth.
Major Point From Table Of Content:
Chapter 4 Fluorochemicals Market, By Product
4.1 Key product trends
4.2 Fluorocarbon
4.2.1 Fluorocarbon market estimates, (Kilo Tons) (USD Million), 2013-2024
4.2.2 Fluorocarbon market estimates, by region, (Kilo Tons) (USD Million) 2013 - 2024
4.2.3 HCFC
4.2.3.1 HCFC market estimates, (Kilo Tons) (USD Million), 2013-2024
4.2.3.2 HCFC market estimates, by region, (Kilo Tons) (USD Million), 2013-2024
4.2.4 HFC
4.2.4.1 HFC market estimates, (Kilo Tons) (USD Million), 2013-2024
4.2.4.2 HFC market estimates, by region, (Kilo Tons) (USD Million), 2013-2024
4.2.5 HFO
4.2.5.1 HFO market estimates, (Kilo Tons) (USD Million), 2013-2024
4.2.5.2 HFO market estimates, by region, (Kilo Tons) (USD Million), 2013-2024
4.3 Inorganics & specialties
4.3.1 Inorganics & specialties market estimates, (Kilo Tons) (USD Million), 2013-2024
4.3.2 Inorganics & specialties market by region, 2013 - 2024
4.4 Fluoropolymers
4.4.1 Fluoropolymers market estimates, (Kilo Tons) (USD Million), 2013-2024
4.4.2 Fluoropolymers market by region, 2013 - 2024
Chapter 5 Fluorochemicals Market, By Application
5.1 Key application trends
5.2 Refrigerants
5.2.1 Refrigerants market estimates, (Kilo Tons) (USD Million), 2013-2024
5.2.2 Refrigerants market estimates, by region, (Kilo Tons) (USD Million), 2013 - 2024
5.3 Aluminium production
5.3.1 Aluminium production market estimates, (Kilo Tons) (USD Million), 2013-2024
5.3.2 Aluminium production market estimates, by region, (Kilo Tons) (USD Million), 2013 - 2024
5.4 Blowing agent
5.4.1 Blowing agent market estimates, (Kilo Tons) (USD Million), 2013-2024
5.4.2 Blowing agent market estimates, by region, (Kilo Tons) (USD Million), 2013 - 2024
5.5 Components & others
5.5.1 Components & others market estimates, (Kilo Tons) (USD Million), 2013-2024
5.5.2 Components & others market estimates, by region, (Kilo Tons) (USD Million), 2013 - 2024
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