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Fluorotelomers Market Growth, Growth Demand, Key Drivers, Forecast To 2033
Fluorotelomers Market Growth
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According to The Business Research Company's, The fluorotelomers market size has grown rapidly in recent years. It will grow from $0.77 billion in 2023 to $0.86 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to increased demand for stain-resistant textiles and apparel, adoption of fluorinated firefighting foams for industrial and municipal fire suppression, rise in awareness of food safety regulations driving demand for fluorinated food packaging materials, expansion of the electronics industry, boosting the use of fluorotelomers in electronic components and devices, and stringent environmental regulations.
The fluorotelomers market size is expected to see rapid growth in the next few years. It will grow to $12.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to continued growth in the textile and apparel industry, especially in emerging markets, increasing focus on eco-friendly firefighting solutions, further advancements in food packaging technology, shift towards sustainable practices and materials in various industries, growth in construction activities worldwide. Major trends in the forecast period include technological innovations in electronics, expansion of biodegradable alternatives, adoption of green chemistry practices, integration of nanotechnology, and emergence of smart coatings.
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Market Drivers and Trends:
The emergence of the textile industry is expected to propel the growth of the fluorotelomers market going forward. The textile industry encompasses producing, processing, and distributing fibers, yarn, fabrics, and finished textile products. The emergence of the textile industry is due to advancements in technology, particularly the invention of mechanized spinning and weaving processes. Fluorotelomers enhance the performance of textiles by providing water and stain resistance and improving durability and longevity. For instance, in May 2023, according to the National Council of Textile Organizations, a US-based association of textile manufacturers, textile and apparel shipments increased from $64.04 billion in 2021 to $65.8 billion in 2022, representing 2.7% growth in the textile industry in the USA. Therefore, the emergence of the textile industry is driving the fluorotelomer market.
Major companies operating in the fluorotelomers market are developing technologically innovative analytical methods for testing fluorotelomer alcohol testing in water to enable efficient detection of fluorotelomer alcohols in water. An innovative analytical method denotes a novel approach or technique used to analyze and interpret data, providing insights or solutions to complex problems. For instance, in April 2024, ALS Right Solution, an Australia-based scientific testing and inspection laboratory, introduced a new analytical method for testing fluorotelomer alcohols (FTOHs) in water developed and validated by the ALS R&D team. This method is pending UKAS accreditation and is designed to be sensitive, robust, and selective for detecting FTOHs. The method uses gas chromatography-tandem mass spectrometry (GC-MS/MS) and can quantify FTOHs at low levels in water samples.
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Major Key Players of the Market:
Compagnie de Saint-Gobain, Mitsubishi Chemical Corporation, 3M Company, Daikin Industries, Shin-Etsu Chemical Co. Ltd., PPG Industries, AGC Chemicals Americas Inc., Arkema S.A, Akzo Nobel N.V., Tosoh Corporation, The Chemours Company, Solvay, Sigma-Aldrich Corporation, Dongyue Group, SRF Limited, Kureha Corporation, Dynax Corporation, Gujarat Fluorochemicals Limited, Halocarbon Products Corporation, Santa Cruz Biotechnology Inc.
Fluorotelomers Market 2024 Key Insights:
• The fluorotelomers market size is expected to see rapid growth in the next few years. It will grow to $12.4 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%.
• Textile Industry Growth Boosts Fluorotelomers Market Expansion
• Technological Innovations in Fluorotelomer Alcohol Testing
• North America was the largest region in the fluorotelomers market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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