Albany, NY -- (SBWire) -- 02/16/2016 --Fluorochemicals are chemical compounds containing fluorine, the thirteenth most abundant element found in the earth's crust. Fluorine is a highly reactive pale yellow gas derived mainly from fluorspar, fluorapatite and cryolite. On the basis of type, fluorochemicals are broadly classified as fluorocarbons, fluoropolymers and inorganics and specialty fluorochemicals. Fluorochemicals are used in a number of home and industrial appliances such as refrigerators, air-conditioners, fire extinguishers, blowing agents and various electronic products. Fluorochemicals are also extensively employed in different sectors including pharmaceuticals, automobiles, industrial coatings and semi-conductor manufacturing.
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The global fluorspar reserves are concentrated in a few geographical regions. South Africa owns the world's largest fluorspar reserves followed by Mexico, China and Mongolia. In 2011, China led the global fluorochemicals market in terms of both production as well as consumption. The global fluorochemical market generated revenue of USD 15,303.0 million in 2011 and is expected to grow at a CAGR of 5% from 2012 to 2018. Refrigerants, aluminum production, blowing agents and components and others are the major application segments of fluorochemicals. Refrigerants are the largest application segment of fluorochemicals, and components and others are expected to be the fastest growing segment for the next five years
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On the basis of types, fluorocarbons dominated the fluorochemical industry in terms of both volume and revenue in 2011. Although fluorocarbons have the highest market share, they are expected to be the slowest growing segment in the industry. Inorganics and specialty fluorochemicals are expected to be the fastest growing segment till 2018. The growth in the industry is mainly triggered by the growing demand for refrigerants, automotives, electronics and pharmaceuticals.
DuPont, Daikin, Solvay, Asahi Glass, Dongyue, Arkema, Honeywell, Pelchem, Mexichem and Mitsui Chemicals are amongst the major manufacturers of fluorochemicals.
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Fluorochemicals Market - South Africa Owns the World's Largest Fluorspar Reserves
The report analyzes key market trends including drivers and restraints of the market and their impact on fluorochemicals market in the near future. The study also focuses on upcoming opportunities of fluorochemicals which may open up new avenues for the players in the market.