Fluorinated Solvents Market Increasing Demand From End User Industries

According to Precision Business Insights (PBI), the latest report the global Fluorinated Solvents market is expected to be worth USD 1,043.8 million in 2022 and projected to grow at a 8.2% CAGR over 2022 to 2028. The increased focus of government authorities and bodies around the world on phasing out and banning environmentally harmful solvents and chemical compounds, such as hydro-chlorofluorocarbons or HCFCs and hydrofluorocarbons or HFCs, is likely to bode well for the global fluorinated solvents market in the coming years.

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The HFO Segment is Dominating the Fluorinated Solvents Market:
The Hydrofluoroolefin (HFO) segment is expected to account for a larger revenue share and the market is expected to grow at double-digit growth rate over the forecast years owing to an increase in demand for various applications as it is considered a climate friendly alternative to HFCs. HFC-HFO blends demand is also boosting the market. Hydrofluoroolefins (HFOs) were developed to replace hydrofluorocarbons (HFCs) in compliance with the Kigali Agreement's phase-down/out procedures.

Europe Holds Significant Share in Fluorinated Solvents Market:
Europe is expected to hold significant market share in the global Fluorinated Solvents market and is projected to grow at a prominent growth rate over the forecast years owing to substantially developed nations concluded in Western Europe with relatively higher concentration of industrial base in countries like Germany, Italy, France, United Kingdom and others. Strong industrial base in Western Europe has benefited the region in the market, and the region is anticipated to account for a key share of the European fluorinated solvents market.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Fluorinated Solvents market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In March 2022 Orbia Fluorinated Solution's brand Koura announced that its Silatronix OS3® electrolyte material is now being used in commercial lithium-ion batteries.

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The Fluorinated Solvents market is segmented based on Product Type, Application, Distribution Channel and Geography:
Based on the Product Type:
• Methoxy-nonafluorobutane
• Ethoxy-nonafluorobutane
• Hydrofluoroolefin (HFO)
• HFC

Based on the Application:
• Electronics & plastic components' cleaning
• Solvent carrier for silicone oils, hard disk lubricants, fluorinated greases, and anti-rust agents
• Defluxing of printed circuit boards (PCBs)
• Drying element in aqueous system or as part of hydrocarbon cleaning process
• Refrigeration coolant and carrier solvent
• Precision cleaning of molded resin
• Dewatering of optical components
• Precision cleaning of delicate substrates
• Others

Based on Distribution Channel:
• Direct Sales
• Distributors
• Others

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Key players profiles in the Fluorinated Solvents market report are 3M, The Chemours Company, AGC Chemicals, Honeywell International, Inc., The Dow Chemical Company, Solvay SA, Arkema SA, H K Wentworth Ltd, Vantage Specialty Chemicals Ltd., MG Chemicals.

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