The global fluorochemicals
market size is expected to reach USD 31.21 billion by 2024,
according to a new report by Grand View Research. Growing popularity of
fluoropolymers in automotive and electronics sectors on account of exhibiting
superior properties such as good electrical insulation and tensile strength is
expected to have a positive impact on the industry.
Growing demand for aluminum in a host of end-use
industries including aviation, automotive, electronics and healthcare is
expected to drive demand. Furthermore, expansion of these industries is
expected to accelerate growth. Presence of a stringent regulatory framework
which includes critical protocols including the Montreal Protocol and Kyoto
Protocol has led to the restricted production and use of numerous chemicals
including HCFC and CFC.
Fluorocarbons dominated the global market accounting
for over 52% of volume share in 2013. Increasing application of refrigerants in
HVAC systems is expected to drive fluorocarbons industry expansion in the near
future. Lax regulatory framework in high potential markets of Asia Pacific,
including China and India is expected to propel product demand over the forecast
period.
Browse
full research report on Fluorochemicals
Market: www.grandviewresearch.com/industry-analysis/fluorochemical-market
Fluoropolymers market is expected to witness
significant gains over the forecast period, with an estimated CAGR of over
10.2% from 2014 to 2024. Its increasing demand in automotive, construction and
electronic applications is expected to augment growth. Increasing construction
spending, particularly in emerging economies of Asia Pacific and Middle East is
likely to drive industry growth.
Europe fluorochemicals market accounted for over 12%
of global volume share in 2013. Increasing demand for fluoropolymers, inorganic
and specialty fluorochemicals in a host of niche applications is expected to
drive demand.
Positive automotive sector outlook in China, India and
Indonesia is expected to remain favorable factor for growth. Regulatory
allowance for investment in metal sector coupled with abundance of aluminum
reserves in China and India is expected to increase the application of aluminum
trifluoride and have a positive impact on demand in the near future.
DuPont, Solvay SA, Daikin, Honeywell, Arkema SA, Dongyue
and Asahi Glass dominated the global fluorochemicals market share in 2013. This
industry is moderately consolidated and possesses oligopolistic nature.
In April 2012, Daikin announced plans to launch a new
fluorochemical product meant for use in touch panels and displays. In July
2015, Solvay announced that it will supply Halar ECTFE fluoropolymer to Amcor
for manufacturing photovoltaic sheets. In June 2012, Arkema SA announced the
expansion of its manufacturing facility located in Pierre-Benite. The expansion
was aimed at increasing the production of fluoropolymers.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/specialty-and-fine-chemicals
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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