The Global Market for Fluorochemicals is Projected to Reach 3.5 Million Metric Tons by 2020

Demand for Refrigeration Equipment Drives Growth in the Global Fluorochemicals Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Fluorochemicals. The global market for Fluorochemicals is projected to reach 3.5 million metric tons by 2020, driven by robust demand for refrigeration equipment and blowing agents, and growing adoption of high-performance fluoropolymers in motor vehicle production.

Fluorochemicals, which are compounds with fluorine as a key component, are stable and highly resistant to chemicals and heat. Due to their inert properties and stability, they are used in industries such as automotive, electrical, performance coatings, chemical processing, semiconductor and aerospace. Strong demand from major application areas, including HVAC, refrigeration, steel, and electronic consumables bodes well for the market in the coming years. In addition, the gradually rebounding automotive sector, and growing use of PTFE in construction, chemical processing and electronics, will help boost demand for fluorochemicals. Supported by advancements in technology, application of fluorochemicals has expanded into pharmaceutical manufacturing, and industrial filtration, among others. The drive towards development of alternative refrigerants to HFCs, in compliance with environmental regulations, is expected to benefit demand especially in developed countries. The market is expected to gain from the increase in production of automobiles and HVAC equipment in both developed and developing economies.

Fluorochemicals are broadly classified into organic fluorochemicals, inorganic fluorochemicals and fluoropolymers. Organic fluorochemicals include aliphatic and aromatic fluorine compounds. While aliphatic compounds comprise fluorocarbons such as CFCs and its replacements (HCFCs, HFCs), aromatic fluorocompounds include ring-substituted and side-chain substituted aromatics, and fluorobenzene. Inorganic fluorochemicals, such as fluorosilicate, aluminum fluoride, cryolite and silicofluoride are commonly utilized in steel making, aluminum production, fumigation, pesticides and herbicides. The growth in this market will be driven by increased use of lightweight materials such as aluminum in automobile production.

As stated by the new market research report on Fluorochemicals, Asia-Pacific dominates the global market. Registering a CAGR of 5.0% over the analysis period, the region also represents the fastest growing market, led by rapid industrialization, increased disposable income, urbanization and strong demand for refrigeration and air conditioning equipment in China, India and other Southeast Asian countries.

Key players in the marketplace include 3M Company, 3M Advanced Materials, Arkema SA, Arkema, Inc., Asahi Glass Company Ltd., Daikin Industries Ltd., Daikin America Inc., DuPont de Nemours & Co., Dongyue Group Ltd., Halocarbon Products Corp., Honeywell International, Inc., Mexichem Fluor S.A. de C.V., Mitsui Chemicals, Inc., Pelchem SOC Ltd., Solvay SA, and Solvay Fluor GmbH, among others.

The research report titled "Fluorochemicals: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. The report provides market estimates and projections for Fluorochemicals consumption in Metric Tons for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.