The fluorochemicals market size has grown strongly in recent years. It will grow from $25.27 billion in 2023 to $26.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to several factors including efforts in climate change mitigation, advancements in industrial coatings and surface treatments, progress in medical and pharmaceutical fields, developments in fluoropolymer technology, and increasing demand for refrigeration and air conditioning solutions.
The fluorochemicals market size is expected to see strong growth in the next few years. It will grow to $34.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. In the forecast period, growth is expected to stem from several factors, including changing consumer preferences favoring eco-friendly alternatives, fluctuations in energy prices influencing production costs, governmental regulations focusing on environmental standards and emissions, geopolitical factors affecting trade dynamics and supply chain stability, and global demand in pivotal industries. Key trends anticipated during this period include the expanding utilization of fluorochemicals in industrial coatings and surface treatments, advancements in chemical synthesis techniques, increased investments in research and development aimed at next-generation fluorochemical solutions, technological innovations driving advancements in fluorinated materials, and progress in air conditioning and refrigeration technologies.
The fluorochemical market is poised for growth, driven by increasing demand for refrigerants used in refrigeration systems. Refrigerants are essential substances that facilitate heat transfer and cooling in refrigeration systems by absorbing and releasing heat as they transition from liquid to gas states. The growing demand for refrigerants is primarily fueled by the rising necessity for air conditioning and refrigeration across various sectors, spurred by urbanization, industrialization, and evolving climatic conditions. Fluorochemicals are favored as refrigerants due to their efficient heat transfer capabilities, stability, and safety attributes. They play a pivotal role in modern cooling and refrigeration systems across diverse applications, with ongoing advancements focused on minimizing their environmental impact. For instance, a report from the United States Environmental Protection Agency in November 2023 highlighted a more than 40% increase in the total volume of hydrofluorocarbon refrigerants compared to 2021, underscoring the market's expansion. Additionally, data from the International Institute of Refrigeration revealed that Australia's refrigeration and air conditioning equipment stock reached 60 million units in 2021, up from 58.1 million in 2020. In summary, the escalating demand for refrigerants is a significant driver propelling the growth of the fluorochemical market.
Major companies in the fluorochemicals market are concentrating on developing innovative products such as fluorinated synthetic rubbers to enhance performance characteristics and address varied industrial needs. Fluorinated synthetic rubbers are elastomers that have been chemically modified with fluorine atoms to enhance their resistance to heat, chemicals, and solvents. This modification makes them well-suited for applications requiring exceptional durability and performance in demanding environments. For example, in April 2023, Solvay S.A., a chemical company based in Belgium, introduced Tecnoflon SHP, a fully fluorinated synthetic rubber engineered to deliver outstanding performance in harsh industrial settings. This new product line features rubbers with top-tier chemical resistance and the highest heat resistance among all elastomers. Tecnoflon SHP offers superior resistance to fluids and chemicals commonly encountered in industries such as oil and gas and chemical processing. It exhibits heat stability up to 315 °C and remains flexible even at temperatures as low as -30 °C.
In April 2021, Fluorsid S.p.A., an Italian chemical company, acquired a 50% stake in CF Carbons GmbH from Fluorchemie Frankfurt. The financial details of the transaction were not disclosed. This acquisition is part of Fluorsid's strategy to expand its presence in the fluorochemical market, bolster its manufacturing capabilities, and reinforce its position in Germany and across Europe. CF Carbons GmbH, based in Germany, specializes in the production of fluorochemical products utilized in refrigerants, solvents, and various industrial applications.
Major companies operating in the fluorochemicals market are Mitsui Chemicals Inc., 3M Company, Daikin Industries Ltd., Solvay SA, Asahi Glass Co. Ltd., AGC Inc., E.I. du Pont de Nemours and Company, Air Products and Chemicals Inc., Arkema SA, Mexichem S.A.B. de C.V., DIC Corporation, The Chemours Company, Dongyue Group Limited, SRF Limited, Central Glass Co. Ltd., Gujarat Fluorochemicals Limited, Navin Fluorine International Limited, James Walker Group Ltd., Dynax Corporation, Precision Polymer Engineering Ltd., Halocarbon Products Corporation, Pelchem SOC Ltd., Shanghai 3F New Materials Company Limited, Shandong Dongyue Chemical Co. Ltd., Sinochem Lantian Co. Ltd., Zhejiang Juhua Co. Ltd.
North America was the largest region in the fluorochemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fluorochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fluorochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Fluorochemicals encompass a diverse category of compounds where fluorine atoms are bonded to carbon atoms. These chemicals are recognized for their exceptional properties including high stability, resistance to heat and chemical reactions, and low surface energy, making them valuable across numerous applications.
The primary types of fluorochemicals include fluorocarbons, fluoroelastomers, fluoropolymers, inorganics, and others. Fluorocarbons specifically consist of carbon and fluorine atoms, renowned for their chemical inertness, non-flammability, and low surface tension. They find application in various industries such as surfactants, propellants, aluminum production, refrigerants, automotive, agrochemicals, and others. End-users benefiting from fluorochemicals span electrical and electronics, petrochemicals, chemicals, aerospace, and beyond.
The fluorochemicals market research report is one of a series of new reports that provides fluorochemicals market statistics, including fluorochemicals industry global market size, regional shares, competitors with a fluorochemicals market share, detailed fluorochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the fluorochemicals industry. This fluorochemicals market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fluorochemicals market consists of sales of fluorinated intermediates, fluorinated lubricants, fluorochemical surfactants, fluorinated solvents, and refrigerants. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The fluorochemicals market size is expected to see strong growth in the next few years. It will grow to $34.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. In the forecast period, growth is expected to stem from several factors, including changing consumer preferences favoring eco-friendly alternatives, fluctuations in energy prices influencing production costs, governmental regulations focusing on environmental standards and emissions, geopolitical factors affecting trade dynamics and supply chain stability, and global demand in pivotal industries. Key trends anticipated during this period include the expanding utilization of fluorochemicals in industrial coatings and surface treatments, advancements in chemical synthesis techniques, increased investments in research and development aimed at next-generation fluorochemical solutions, technological innovations driving advancements in fluorinated materials, and progress in air conditioning and refrigeration technologies.
The fluorochemical market is poised for growth, driven by increasing demand for refrigerants used in refrigeration systems. Refrigerants are essential substances that facilitate heat transfer and cooling in refrigeration systems by absorbing and releasing heat as they transition from liquid to gas states. The growing demand for refrigerants is primarily fueled by the rising necessity for air conditioning and refrigeration across various sectors, spurred by urbanization, industrialization, and evolving climatic conditions. Fluorochemicals are favored as refrigerants due to their efficient heat transfer capabilities, stability, and safety attributes. They play a pivotal role in modern cooling and refrigeration systems across diverse applications, with ongoing advancements focused on minimizing their environmental impact. For instance, a report from the United States Environmental Protection Agency in November 2023 highlighted a more than 40% increase in the total volume of hydrofluorocarbon refrigerants compared to 2021, underscoring the market's expansion. Additionally, data from the International Institute of Refrigeration revealed that Australia's refrigeration and air conditioning equipment stock reached 60 million units in 2021, up from 58.1 million in 2020. In summary, the escalating demand for refrigerants is a significant driver propelling the growth of the fluorochemical market.
Major companies in the fluorochemicals market are concentrating on developing innovative products such as fluorinated synthetic rubbers to enhance performance characteristics and address varied industrial needs. Fluorinated synthetic rubbers are elastomers that have been chemically modified with fluorine atoms to enhance their resistance to heat, chemicals, and solvents. This modification makes them well-suited for applications requiring exceptional durability and performance in demanding environments. For example, in April 2023, Solvay S.A., a chemical company based in Belgium, introduced Tecnoflon SHP, a fully fluorinated synthetic rubber engineered to deliver outstanding performance in harsh industrial settings. This new product line features rubbers with top-tier chemical resistance and the highest heat resistance among all elastomers. Tecnoflon SHP offers superior resistance to fluids and chemicals commonly encountered in industries such as oil and gas and chemical processing. It exhibits heat stability up to 315 °C and remains flexible even at temperatures as low as -30 °C.
In April 2021, Fluorsid S.p.A., an Italian chemical company, acquired a 50% stake in CF Carbons GmbH from Fluorchemie Frankfurt. The financial details of the transaction were not disclosed. This acquisition is part of Fluorsid's strategy to expand its presence in the fluorochemical market, bolster its manufacturing capabilities, and reinforce its position in Germany and across Europe. CF Carbons GmbH, based in Germany, specializes in the production of fluorochemical products utilized in refrigerants, solvents, and various industrial applications.
Major companies operating in the fluorochemicals market are Mitsui Chemicals Inc., 3M Company, Daikin Industries Ltd., Solvay SA, Asahi Glass Co. Ltd., AGC Inc., E.I. du Pont de Nemours and Company, Air Products and Chemicals Inc., Arkema SA, Mexichem S.A.B. de C.V., DIC Corporation, The Chemours Company, Dongyue Group Limited, SRF Limited, Central Glass Co. Ltd., Gujarat Fluorochemicals Limited, Navin Fluorine International Limited, James Walker Group Ltd., Dynax Corporation, Precision Polymer Engineering Ltd., Halocarbon Products Corporation, Pelchem SOC Ltd., Shanghai 3F New Materials Company Limited, Shandong Dongyue Chemical Co. Ltd., Sinochem Lantian Co. Ltd., Zhejiang Juhua Co. Ltd.
North America was the largest region in the fluorochemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fluorochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fluorochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Fluorochemicals encompass a diverse category of compounds where fluorine atoms are bonded to carbon atoms. These chemicals are recognized for their exceptional properties including high stability, resistance to heat and chemical reactions, and low surface energy, making them valuable across numerous applications.
The primary types of fluorochemicals include fluorocarbons, fluoroelastomers, fluoropolymers, inorganics, and others. Fluorocarbons specifically consist of carbon and fluorine atoms, renowned for their chemical inertness, non-flammability, and low surface tension. They find application in various industries such as surfactants, propellants, aluminum production, refrigerants, automotive, agrochemicals, and others. End-users benefiting from fluorochemicals span electrical and electronics, petrochemicals, chemicals, aerospace, and beyond.
The fluorochemicals market research report is one of a series of new reports that provides fluorochemicals market statistics, including fluorochemicals industry global market size, regional shares, competitors with a fluorochemicals market share, detailed fluorochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the fluorochemicals industry. This fluorochemicals market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fluorochemicals market consists of sales of fluorinated intermediates, fluorinated lubricants, fluorochemical surfactants, fluorinated solvents, and refrigerants. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Fluorochemicals Market Characteristics3. Fluorochemicals Market Trends and Strategies32. Global Fluorochemicals Market Competitive Benchmarking33. Global Fluorochemicals Market Competitive Dashboard34. Key Mergers and Acquisitions in the Fluorochemicals Market
4. Fluorochemicals Market - Macro Economic Scenario
5. Global Fluorochemicals Market Size and Growth
6. Fluorochemicals Market Segmentation
7. Fluorochemicals Market Regional and Country Analysis
8. Asia-Pacific Fluorochemicals Market
9. China Fluorochemicals Market
10. India Fluorochemicals Market
11. Japan Fluorochemicals Market
12. Australia Fluorochemicals Market
13. Indonesia Fluorochemicals Market
14. South Korea Fluorochemicals Market
15. Western Europe Fluorochemicals Market
16. UK Fluorochemicals Market
17. Germany Fluorochemicals Market
18. France Fluorochemicals Market
19. Italy Fluorochemicals Market
20. Spain Fluorochemicals Market
21. Eastern Europe Fluorochemicals Market
22. Russia Fluorochemicals Market
23. North America Fluorochemicals Market
24. USA Fluorochemicals Market
25. Canada Fluorochemicals Market
26. South America Fluorochemicals Market
27. Brazil Fluorochemicals Market
28. Middle East Fluorochemicals Market
29. Africa Fluorochemicals Market
30. Fluorochemicals Market Competitive Landscape and Company Profiles
31. Fluorochemicals Market Other Major and Innovative Companies
35. Fluorochemicals Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Fluorochemicals Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fluorochemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for fluorochemicals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fluorochemicals market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Fluorocarbons; Fluoroelastomers; Fluoropolymers; Inorganics; Other Types2) By Application: Surfactants; Propellants; Aluminum Production; Refrigerant; Automobile; Agrochemicals; Other Applications
3) By End Use: Electrical And Electronics; Petrochemicals; Chemicals; Aerospace; Other End Uses
Key Companies Mentioned: Mitsui Chemicals Inc.; 3M Company; Daikin Industries Ltd.; Solvay SA; Asahi Glass Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Mitsui Chemicals Inc.
- 3M Company
- Daikin Industries Ltd.
- Solvay SA
- Asahi Glass Co. Ltd.
- AGC Inc.
- E.I. du Pont de Nemours and Company
- Air Products and Chemicals Inc.
- Arkema SA
- Mexichem S.A.B. de C.V.
- DIC Corporation
- The Chemours Company
- Dongyue Group Limited
- SRF Limited
- Central Glass Co. Ltd.
- Gujarat Fluorochemicals Limited
- Navin Fluorine International Limited
- James Walker Group Ltd.
- Dynax Corporation
- Precision Polymer Engineering Ltd.
- Halocarbon Products Corporation
- Pelchem SOC Ltd.
- Shanghai 3F New Materials Company Limited
- Shandong Dongyue Chemical Co. Ltd.
- Sinochem Lantian Co. Ltd.
- Zhejiang Juhua Co. Ltd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 26.86 Billion |
Forecasted Market Value ( USD | $ 34.67 Billion |
Compound Annual Growth Rate | 6.6% |
Regions Covered | Global |
No. of Companies Mentioned | 26 |