Global Elemental Flourine Consumption to Witness 6% CAGR during 2019-2029
The report covers the latest trends, key success factors, market influencing factors, key information, forecasting factors, macroeconomics factors, and historical market scenario. The nuclear fuel segment in the global elemental fluorine market is expected to grow at a noteworthy rate, owing to the increasing applications in glass and ceramic manufacturing, electronics and semiconductor industry, metallurgy and polymer manufacturing and processing, etc.
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Moreover, increasing use of fluorinated organic compound in lubricants, electrolytes, and as a solvent in pesticides, is augmenting the growth of the elemental fluorine market. The nuclear fuel segment is expected to dominate as compared to the other segment in elemental fluorine market throughout the forecast period. In terms of geographical outlook, APAC is projected to be a significant region for the elemental fluorine market, and is estimated to grow at a CAGR of ~9% during the forecast period.
Diverse Applications of Sulfur Hexafluoride (SF6) Pushing Market Growth
Sulfur hexafluoride (SF6) is a powerful greenhouse gas. SF6 absorbs infrared radiation and has a long life span. SF6 finds applications in the manufacturing of electrical equipment. The growing demand for electricity in developed and developing economies such as China and India, is estimated to fuel the global elemental fluorine market over the forecast period.
Moreover, the demand for elemental fluorine is expected to reach a high level, because fluorine gas has better performs as compared to other fluorine-bearing gases such as ClF3, NF3, F2/N2 mixtures, and SF6. As a result, superior properties of elemental fluorine are anticipated to propel the global elemental fluorine market growth by end of 2029.
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APAC to be the Top Revenue Pocket:
Geographical analysis of the elemental fluorine market reveals that the APAC region is picking up the pace in the elemental fluorine market, owing to the presence of number of manufacturing plants of end-use industries such as plastic, pharmaceutical, chemical, cosmetics, etc. across Southeast ASEAN economies, especially in China. Further, rising population, growing industrial infrastructure, healthy economic growth, and rising urbanization in developing countries, act as a major growth factors for the growth of the APAC elemental fluorine market.
Furthermore, the APAC region is also expected to remain the most attractive region in terms of market attractiveness by market share index, on account of the large volume of elemental fluorine consumption expected by the region, over the forecast period, mainly driven by China. A high growth rate due to considerable chemical activity in the region is expected to contribute to the rising demand.
Tier-1 players are focusing on strategic expansion to increase their global and regional footprint in the elemental fluorine market. For instance, Air Products and Chemicals acquired Indura S.A., one of the largest independent industrial gas manufacturers, headquartered in Santiago, Chile, to expand its production footprint and fulfill the fluorine demand generated from end users.
• Solvay S.A.
• Kanto Denka Kogyo Co., Ltd.
• Air Products and Chemicals, Inc.
• Linde AG
• Navin Fluorine International Limited
• ADVANCE RESEARCH CHEMICALS. INC.
• Pelchem SOC Ltd.
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