Increasing refrigerant applications in manufacturing and automotive industries is expected to drive fluorochemicals market growth

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Global Market Insights launches comprehensive analysis of trends, industry segments, market share, growth drivers and restraints, size estimations and demand forecasts on the global fluorochemicals market. Fluorochemicals market size is forecast to be worth 5.49 million tons by 2024, at a growing CAGR of 4.6% from 2015 to 2024.

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Proliferation of technology innovation and rise in automobile production is likely to contribute to growth of the market.Positive demand prospects from major application market including HVAC, refrigeration, electronic consumables, steel and aluminum is likely to boost fluorochemical sales over the projected time frame. The steady recovery of automotive industry, particularly in Asia coupled with expanding application scope for PTFE in various sectors including construction, medical, chemical processing, automotive, electronics, and cookware is also anticipated to fuel the demand in the near future. Dynamic and strict regulations regarding ozone depletion may prove to be crucial factors for market players.

Fluorochemicals Market Size

The report features the market analysis with the market segmented on the basis of product, application, region and competitive landscape. The product insights include the market categorization as Fluorocarbons, Fluoropolymers, Fluororepellants, Inorganic fluorides and Fluorosurfactants. On the basis of application, the market is segmented into Aluminum Production, Air-conditioning, Firefighting, Blowing Agents, and Refrigeration.

Based on region, the report covers analysis of market in Asia-Pacific, Europe, and rest of the World. China is one of the rapidly budding markets for fluorochemicals owing to noteworthy collaborations, mergers & acquisitions, and joint ventures.

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Global refrigerator market size is anticipated to hit 450 million units up to 2024. Global aluminum production is estimated to witness growth and reach 108.9 million tons over the projected period. Aluminum production is likely to surge due to rising demand from the commercial transportation and aerospace sector coupled with increasing demand of electrical cable and wire used in electrical transmission and buildings applications.

The report features competitive landscape of key market participants with their business strategies, finance metrics and profiles. Key players covered in the report include Daikin, Arkema and Honeywell, DuPont, Asahi Glass, Solvay, Dongyue, Pelchem, Mitsui Chemicals, Air Products & Chemicals Inc., Mexichem Products S.A. de C.V, and Halocarbon Products Corp.

The research report announced by Global Market Insights Inc., provides a comprehensive outlook of current market trends, drivers, issues, and strategic industry activities of global companies. It provides 3600 perspective, market insights, estimates and projections for fluorochemicals market.

Author NameDhananjay Punekar


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