San Francisco, 19
November 2018: The global fluorochemicalsmarket 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.
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Research Report of Fluorochemicals Market@
www.grandviewresearch.com/industry-analysis/fluorochemical-market
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.
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.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/specialty-and-fine-chemicals
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.
Access Press Release of
Fluorochemicals Market@ www.grandviewresearch.com/press-release/global-fluorochemicals-market
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.
