Fluorochemicals are chemicals compounds which
contain fluorine and with the further development in the industry of metal,
mining and chemicals has grown significantly in the recent trend. The global
market of fluorochemicals is anticipated to exhibit an effective growth in the
period of 2018-2023 because of the growing requirement for refrigerants in
various end-use markets which majorly includes building and constructions,
electronics, automotive, food and beverages and pharmaceuticals. Moreover, it
is expected that the largest market is the United States. Furthermore, the Asia
Pacific region for a 43% market share of the fluorochemicals market around the
globe in 2017 and is projected that to present noteworthy growth in the
forecasted period due to the fastest economic growth and less regulatory
pressure in the country. The key players of the respective region is playing an
important role for acquiring the huge market share around the globe in the
coming years by doing an effective usage of the fluorochemicals in the various
aspects of the market which further lead the market growth more significantly.
According to the report analysis, ‘Global
Fluorochemicals Market Research Report - Forecast to 2023’ states that
some of the major key players which are currently functioning in this market
around the globe for attaining the huge market share by dominating the growing
demand for fluorochemicals from the various segments of the market includes
Gujarat Fluorochemicals Ltd (India), SRF Limited (India), Daikin Industries Ltd
(Japan), Alufluor AB (Sweden), Fluorsid SpA (Italy), Halocarbon Products
Corporation (US), Kureha Corporation (Japan), Arkema SA (France), DowDuPont
(US), 3M (US), Solvay (Belgium), and The Chemours Company (US). Moreover, the
market has some restraints which majorly includes stringent environmental
regulations and restraints impact analysis. Meanwhile, the rising requirement
for refrigerants in numerous end-use industries, enlarging automotive industry
and drivers’ impact analysis are the major key factors which significantly
drive the market growth of the fluorochemicals around the globe in the near future.
On the basis of geography, the demand of this,
is growing which lead the market growth across the globe likewise the North
America, Europe, Asia Pacific region, Latin America, Middle East and Africa and
rest of the world. Whereas, the Asia-Pacific region held the highest market
share of 43% in 2017. The regional market was valued at USD 11,187.7 million in
2017 ad is anticipated to increase at a CAGR of 6.6% to reach USD 16,298.5
million in the review period. The North America region held the second largest
market share. The US had dominated the North American market in 2017 is
anticipated to grow at a CAGR of 5.4% whereas the Canadian market is expected
to increase at a CAGR of 5.0%.
The effective industrialization in developing
economies, especially in China, India and South-East Asia countries, is likely
to fuel the demand for refrigerants during the evaluation period. Additionally,
the growing usage of fluoropolymers in developing applications such as water
filtration and solar and photovoltaic is anticipated to fuel the growth of the
market. It is expected that the market of Fluorochemicals will grow more
significantly in the coming years over the decades with the growing demand of
this in the various industries.
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