Growing demand from application markets, especially in Asia, coupled with dynamic regulations to drive product development.
San Francisco, California (PRWEB) March 25, 2014
The global fluorochemicals market is expected to reach USD 24.99 billion by 2020, according to a new study by Grand View Research Inc. Positive demand outlook from key application markets such as refrigeration, HVAC, aluminum, steel and electronic consumables is expected to drive fluorochemical sales over the next six years. The gradual recovery of automotive industry, especially in Asia and increasing application scope for PTFE in chemical processing, construction, electronics, automotive, cookware and medical is also expected to drive fluorochemical demand over the forecast period.
The report “Fluorochemical Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/fluorochemical-market.
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Fluctuating fluorspar supply has emerged as a challenge for market participants, which are finding it difficult to curtail costs and maintain profitability. Additionally, a very stringent and dynamic regulatory scenario, pertaining to the ozone depleting nature of fluorocarbons has resulted in increased R&D spending to develop environment friendly products.
Further Key findings from the study suggest:
- Fluorocarbons dominated the global market, accounting for over 52% of global fluorochemical volumes in 2013. HCFC, accounting for over 60% of the total fluorocarbon market, is currently being phased out by HFC and other products, owing to regulatory pressure.
- Fluoropolymers are the most promising product segment in the global market, with an estimated CAGR of over 10% from 2014 to 2020. Global fluoropolymer market revenue is expected to reach USD 9.13 billion by 2020, growing at a CAGR of 10.6% from 2014 to 2020.
- Being the largest global market for automotive, electronic consumables and chemical processing, Asia Pacific dominated fluorochemical demand in 2013, accounting for over 46% of global volumes. Asia Pacific fluorochemicals market revenue is expected to reach USD 11.68 billion by 2020. North America and Europe, relatively mature markets, are estimated to grow at a CAGR of 2.8% and 3% from 2014 to 2020, respectively.
- The global market is moderately consolidated and possesses oligopolistic features. Key market participants include DuPont, Daikin, Solvay SA, Arkema SA, Honeywell, Dongyue and Asahi Glass
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For the purpose of this study, Grand View Research has segmented the fluorochemicals market on the basis of product, application and region:
- Fluorochemical Product Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• HFC and others
• Inorganics and Specialties
- Fluorochemical Application Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• Aluminum Production
• Blowing Agents
• Components and others
- Fluorochemical Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Asia Pacific
Browse all Specialty & Fine Chemicals Market Research Reports at http://www.grandviewresearch.com/industry/specialty-and-fine-chemicals.
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