3M (U.S.), E. I. du Pont de Nemours and Company (U.S.), DAIKIN INDUSTRIES, Ltd. (Japan), Asahi Glass Co., Ltd. (Japan), Arkema S.A. (France), Honeywell International Inc. (U.S.), Dongyue Group Ltd. (China), Pelchem SOC Ltd (South Africa), Gujarat Fluorochemicals Ltd. (India), and Mitsui Chemicals, Inc. (Japan) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Flourochemicals Market.
Flourochemicals Market – Overview
The Global Flourochemicals Market is growing with the rapid pace; mainly due to the burgeoning air conditioning & refrigeration industry. According to a recent study report published by the Market Research Future, The global market of Flourochemicals is increasing and expected to gain significance over the forecast period. The market is forecasted to demonstrate a stunning growth by 2021, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2021).
Globally, the market for Flourochemicals is driven by the region Asia pacific, owing to the rise in the population resulting in to increasing demand for Construction and Air Conditioning & Refrigeration industries among others. Flourochemicals are extensively used in the air conditioning & refrigeration systems such as industrial, commercial, domestic and public transport. Excellent dielectric, thermal and sound insulation properties is another largest application of Flourochemicals. These properties are extensively incorporated in insulation materials to manufacture electric cables and coatings. Hydroflourocarbon compounds are getting more demand relative to first and second generation of Flourochemicals such as chlorofluorocarbon and hydroflourochlorocarbon the potential for destruction of ozone layer is zero.
Rising population defines the growth of construction industry. Moreover growing industries such as Aerospace, Food & Agrochemicals industry, and consumer provide impelling force to the Flourochemicals Market growth.
On the other hand, the negative impact Flourochemicals leave on the environment, restricts its uptake resulting in to further hampering the Flourochemicals Market growth.
Flourochemicals are high value added and low production volume chemicals and can also be termed as performance chemicals. It is high added value products used as inorganic flourides, flourocarbons, and surfactants it is utilized in a wide variety of applications. Low friction factor and dielectric constant, and resistant to high UV index and chemical attacks, utilisation of these properties is favoured in wide range of applications. Flourochemicals are used in ceramics, glass fibers, paints & coatings, detergents, foods, plastics, cosmetics, construction, pulp and paper, pharmaceuticals, electronics, agriculture and for producing petroleum products.
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Flourocarbons are most widely used in flourochemicals industry after that Flouropolymers used in manufacturing insulation materials is most popular. Flourochemicals based protective coatings are predicted to gain momentum in U.S. market.
Flourochemicals Market – Competitive Analysis
The Flourochemicals Market is predicted to be fastest growing owing to vast scope for innovation and technology improvement to deliver better products. U.S. is predicted to be the largest market for flourochemicals followed by Europe and Asia Pacific. Arkema has developed new technology to produce zero ozone depletion potential (ODP) hydroflourocarbons used in the air conditioning & refrigeration industry. Also it has invested in R&D to develop fourth generation cooling liquids which has low global warming potential (GWP) is going to impact the flourochemicals market competition on this new innovation.
Industry/ Innovation/ Related News:
June 2017 – Colombes (France), Arkema is one of the prominent flourochemicals manufacturers, announced their new product Forane 427A refrigerant has passes the case studies and it is retrofitting the previous R-22 systems. The case studies are based on retrofit documentation and were selected to demonstrate the performance of the product in high ambient and other unique conditions that demand outstanding performance.
March 2017 – Honeywell International Inc. (U.S.) a global manufacturer of flourochemicals, announced that they entered a supply agreement with Indian manufacturer to produce Honeywell Solstice® yf. It is an automobile refrigerant with global warming potential less one. This company is investing approximately 300 million USD to increment the production capacity of Solstice® yf. U.S environmental protection agency has approved this product as low global warming potential. As Indian automobile industry accounts for more than 5% of total GDP and it is expected to grow with higher CAGR owing to rising middle class population and purchasing power. This is an important factor which fuels the use of the Honeywell’s product in the coming years of automobile industry.
August 2017 – DAIKIN INDUSTRIES, Ltd. (Japan) is one of the leading flourochemicals manufacturer in the Asia Pacific region, has acquired Italian Flourochemicals manufacturer Heroflon S.p.A. Heroflon S.p.A is a well-established flourochemicals manufacturer in the Europe region. On this acquirement, DAIKIN is anticipated to widen the flourochemicals market in this region by making huge investments and already existing technology to manufacture better flourochemicals in the coming years.
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