Albany, NY -- (SBWIRE) -- 05/21/2014 -- According to a new market report published by Transparency Market Research titled "Fluorochemicals (Fluorocarbons, Fluoropolymers and Inorganics & Specialties) Market by Application (Refrigeration, Aluminum Production, Blowing Agents, Components & Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018". The report observes that the global fluorochemicals industry was valued at USD 15.3 billion in 2011 and is expected to generate revenue of USD 21.5 billion by 2018, growing at a CAGR of 5% from 2012 to 2018.
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Increasing demand for aluminum, refrigerants, automobiles, and emerging economies of the Asia Pacific region are expected to drive the demand for fluorochemicals over the next five years.
On the basis of applications, the key segments analyzed in the study included refrigeration, aluminum production, blowing agents, components & others. Refrigerants market constituted 43% of total fluorochemical volume consumption in 2011. However, it is expected to experience slight decline in its market share due to regulatory constraints. The components and others segment is expected to exhibit fastest growth among all segments of fluorochemicals. Refrigerants and components and others market together accounted for the largest share of the fluorochemicals industry in 2011 and are expected to occupy 81% of the overall demand by 2018. The demand for aluminum production and blowing agents is expected to be driven by the growth from automobiles, construction, and polymer industries.
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Fluorocarbons led the overall fluorochemicals market and accounted for a market share of 54% in 2011 owing to their extensive use in pharmaceuticals, industrial coatings, refrigerants, blowing agents, etc. HFC and others are amongst the fastest growing segments of fluorocarbons. HFC is extensively used in refrigerants, blowing agents, etc. The others include fluorocarbons such as perfluorooctanesulfonic acid (PFOS), perfluorooctanoic acid (PFOA), methoxyflurane, enflurane, polyvinylidene fluoride, etc.
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Asia Pacific dominated the global fluorochemical market with a share of 46% in 2011 and is expected to keep continue this domination through 2018 on the back of increasing global export and domestic consumption. China has the third largest fluorspar reserves in the world and was also the largest regional market for fluorochemicals.
DuPont, Daikin, Asahi Glass, Solvay, Arkema, Dongyue, Honeywell, Pelchem, Air Products and Chemicals and Mexichem are amongst the major producers of fluorochemicals.
Fluorochemicals market by product type:
- HFC and others
- Inorganics and Specialties
Fluorochemicals market by application:
- Aluminum Production
- Blowing Agents
- Components and others
Fluorochemicals market by geography:
- North America
- Asia Pacific
- Rest of the World
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