New York, NY -- (SBWIRE) -- 02/22/2021 -- The global Fluorochemicals Market is expected to reach USD 28.12 Billion by 2026, according to a new report by Reports and Data. The significant factor fueling the growth of fluorochemicals market is the increase in requirement for refrigeration across numerous end-user industries. Rising temperatures along with demand for cold storage systems across the globe and climate control systems have stimulated the demand for HVAC and refrigeration systems, which in turn would have a positive impact on the fluorochemicals market growth.

Key participants include 3M, DuPont, Honeywell, Solvay SA, Pelchem, Mexichem, Archema SA, Dongyue, Halocarbon Products Corp., and Daikin Industries among others.

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Increase in number of applications for organic fluorochemicals in healthcare, pharmaceuticals, and automobile industries support market growth. Application of these chemicals in the pharmaceutical industry due to its incombustible nature is likely to push the market demand in the upcoming years. It is highly used as an anesthetic agent in dental care. Increased R&D expenditure especially in the pharmaceutical sector to develop novel product range is anticipated to drive market growth. Increase in automobile production owing to rising consumer economic standards will support demand for aluminum production, which is one of the major applications of fluorochemicals.

Additionally, growing demand for blowing agents which use fluorochemicals in manufacturing foamed plastics is expected to a open window of opportunities in the market during the forecast period.

For the purpose of this report, Reports and Data have segmented global fluorochemicals market on the basis of product type, application, end-user, and region:

Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Organic
Inorganic

Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Refrigerant
Blowing Agent
Aluminum Production
Agrochemicals
Lubricants
Propellants
Components
Surfactants
Specialty Chemicals
Others

End-user Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

Chemical
Petrochemicals
Food & Beverages
Pharmaceuticals
Automotive
Aerospace
Electrical & Electronics
Textile
Paints & Coatings
Architectural
Others

Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)

- North America
- Europe
- Asia Pacific
- Latin America
- MEA

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A major restraining factor in the market growth is the rising environmental concerns pertaining to the use of these chemicals, which has leading governments worldwide, to frame regulations to phase out their utilization gradually. Another hindrance comprises non-uniform availability of the fluorspar mineral, raw material in the production of fluorochemicals. Nevertheless, novel products and less harmful fluorocarbons are currently in the R&D phase.

Further key findings from the report suggest

Organic products contributed to the largest market share in 2018 with a growth rate of 5.0% in the forecast period. Fluorocarbons held a market size of around 50% in 2018. It is likely to lose share to inorganic and polymer counterparts in light owing to strict regulatory norms in the U.S. and Canada to phase out CFC and HCFC compounds.
Refrigerant applications held the largest market share of around 45% in 2018. The increasing prominence of clean air systems in manufacturing industry coupled with rising installation of HVAC systems in automobiles is anticipated to support market growth in the forecast period.
The market in the APAC region contributed around 40% of the market share in 2018. Growth of the automotive industry in China, India, Indonesia, and Malaysia is projected to increase the application of refrigerants in HVAC systems for automobiles and as a result, contribute to market growth…Continued..

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Table of Content:

Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016-2026
Chapter 3. Indicative Metrics
Chapter 4. Fluorochemicals Segmentation & Impact Analysis
4.1. Fluorochemicals Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand for refrigerants
4.2.2.2. Increase in aluminum production
4.2.2.3. Increasing demand for HVAC in automobiles
4.2.3. Market restraints analysis
4.2.3.1. Stringent Regulatory norms
4.2.3.2. High cost of production
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continued…

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