San Jose, CA (Vocus) October 28, 2010
Worldwide economic recession negatively affected fluorochemicals market that was already reeling under the pressure of stringent environmental regulations and consumer shift towards non-fluorochemical options. During 2008 and 2009, major end-use sectors of fluorochemicals such as electronics, wire & cable, refrigeration, and air conditioning fell noticeably, thereby resulting in drop in demand for fluorochemicals. The gloomy scenario impacted fluorochemicals sales for various product applications including air-conditioning, firefighting, and commercial refrigeration equipment such as smart defrost systems and self-chilling beverage cans. The market demonstrated negative growth in the US, Canada, Japan, and Europe, while it remained positive in Asia-Pacific, and Rest of World markets.
Going forwards, worldwide demand for fluorochemicals is expected to improve in the coming years driven by increase in production of refrigerators and cooling equipment, leading to increased usage of fluorocarbon refrigerants. The market growth is likely to be higher in developing nations owing to low market penetration of fluorochemical-based consumer goods, rise in aluminum and automobile production, favorable demographic changes, and increasing income levels. In addition, prospective growth could be attributed to rise in demand for fluoropolymers, which is expected to remain strong throughout the world.
The United States represents the largest regional market for fluorochemicals worldwide, as stated by the new market research report on Fluorochemicals. While environmental concerns discouraged the US fluorochemicals market in the past, financial crunch significantly weakened the demand for fluorochemicals during the crisis period of 2008 & 2009. Europe represents the second largest regional market for fluorochemicals worldwide. Asia-Pacific is portended to register fastest growth for fluorochemicals.
Inorganic Fluorochemicals category, comprising specialty/performance fluorine products such as inorganic fluorine gases, water fluoridation chemicals, inorganic dental fluorides and fluoboron compounds, constitutes the largest product segment. Fluoropolymers represents the fastest growing product segment.
The world fluorocarbon market has been undergoing huge fluctuation due to various international agreements, including Kyoto and Montreal Protocols along with nationwide government policies. While market for hydrochlorofluorocarbons (HCFCs) (considered less harmful) continues to grow, chlorofluorocarbons (CFCs) have been phased out almost completely in majority of the markets owing to concerns over their ozone depleting properties. Further, demand for fluorocarbons shifted to developing counties from developed countries due to increasing consumption levels driven by rising incomes. However, demand for HCFCs is growing worldwide, excepting in Western Europe where concerns related to climatic changes and competition from alternatives such as nonfluorinated materials are hindering growth.
Major players profiled in the report include Air Products and Chemicals Inc., Arkema SA, Arkema Inc., Asahi Glass Company Ltd., Daikin Industries Ltd., Daikin America Inc., DuPont de Nemours & Co., Dyneon LLC, Halocarbon Products Corp., Honeywell International, Merck KGaA, Mexichem Fluor S.A. de C.V., Mitsui Chemicals Inc., Pelchem, Solvay Fluor GmbH, and Solvay SA.
The research report titled “Fluorochemicals: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the fluorochemicals markets, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections in volume terms for 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. The report also provides annual sales estimates and projections in value terms for the US market. Key product segments analyzed include Organic Fluorochemicals, Inorganic Fluorochemicals, and Fluoropolymers. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Fluorochemicals_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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