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Fluorochemicals Market growth is driven by strong application trends in refrigeration

Author : Ronak Bora | Published Date : 2019-04-09 

The Fluorochemicals Market is set to grow from its current market value of more than $35 billion to over $70 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Growing urbanization supported by upgrading living standards has led to rapid adoption of commercial refrigeration systems including mobile AC's, chillers and domestic cooling systems which is likely to promote industry growth. Increase in installations of industrial chilling installations to maintain industrial equipment which need cold surroundings will drive fluorochemicals Market in refrigeration application.

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Inorganic fluorochemicals such as AIF is prominently used for cost-effective and energy efficient aluminum production. Stringent environmental policies regarding vehicle emission has ked to rise in demand for aluminum to reduce vehicle weight which may surge its production thus stimulating fluorochemicals demand.

Growing application scope in healthcare industry as active ingredient for pharmaceutical formulations may act as a major contributing factor towards product demand. In addition, fluoropolymers find application in medical devices owing to its performance characters including lubricity, biocompatibility, low binding and chemical inertness should favor product demand, thus promoting fluorochemicals market growth.

France fluorochemicals Market may exceed to USD 2.5 billion at the end of forecast timeframe. Presence of key industry players formulating innovative product range with energy efficiency and environmental benefits along with compliance with stringent government policies phasing out fluorocarbons will positively favor regional industry growth.

High prices of fluorocarbons owing to supply reduction as a result of strict regulatory norms imposing ban on these compounds will affect industry profitability, thus affecting fluorochemicals market price trends. Moreover, current strict regulatory amendments have resulted in added compliance cost which may act as another restricting factor.

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China refrigerants application Market may register gains over 6% by 2024. High investments in residential and public infrastructural projects has led to rising installations of AC's and internal cooling systems which is likely to surge fluorochemicals market growth. Moreover, China is the largest producer of fluorspar which is a key raw material for fluorocarbons commercial production which may have positive impact on regional industry growth.

Fluorochemicals Market from components application is anticipated to surpass USD 25 billion by 2024. Fluorine polymers are used in blend with the other polymers imparts high surface energy, thus providing water repellency and additional lubricity to the parts and components made from the blends. Additionally, these compounds have application in electronic industry for semiconductor, screen display and monitors manufacturing, thus stimulating product demand.

U.S. fluorocarbon Market from HFO product may exceed USD 10 billion up to 2024. Technological innovations in developing alternative novel solutions to cope with the fluorocarbons ban may positively impact product demand. Development of new equipment for HFO production supported by its increasing usage in aerosol propellants, solvent use and blowing agent applications will drive fluorochemicals industry growth.

Global fluorochemicals market share is consolidated with presence of major players including Daikin Industries, Arkema, Mexichem, Dupont, Pelchem, Asahi Glass, Solvay S.A., 3M company, Honeywell Inc, Dongyue Group and Halocarbon Product Corp.

Browse key industry insights spread across 225 pages with 251 market data tables & 24 figures & charts from the report, “Fluorochemicals Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/fluorochemicals-market

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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