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Fluorochemicals Market Size By Product (Fluoropolymers, Fluorocarbons, Inorganics & Specialties), By Applications (Aluminum Production, Components, Refrigeration, Blowing Agents), Industry Outlook Report, Regional Analysis, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2024

Published Date: March 2016 | 130 Pages | Report ID: GMI153 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

Fluorochemicals Market size is expected to exceed 5.4 million tons by 2024, growing at a CAGR over 4.5% from 2015 to 2024.

North America Fluorochemicals Market Size, by Product, (kilo tons), 2012-2024
North America Fluorochemicals Market Size, by Product, (kilo tons), 2012-2024

Increasing refrigerator demand in household and industrial sector owing to change in consumer lifestyle are among the key trending factors fueling fluorochemicals market growth. Global refrigerator spending will surpass 450 million units by 2024. The industry is positively driven by its extensive applications in refrigeration and air conditioning industry.

Increasing applications scope in pharmaceutical industry owing to its nonflammable properties will open new avenues for industry. The product is widely accepted as anesthesia in dental care. Other potential applications include agrochemical compounds, pesticides, insecticides and herbicides.

Global aluminum consumption will exceed 100 million tons by 2024, hydrogen fluoride, a fluorochemical product is widely used in manufacturing aluminum through electrolysis process. Vehicles production capacity expansion owing to increase in consumer purchasing will facilitate the fluorochemicals market demand in this segment. 

Technological advancement in extraction process from raw materials acidspar and metspar has resulted in decrease in price trends. China holds the maximum raw material reserves contributing more than 50% of global fluorite. APAC is estimated to have the highest revenue growth as these countries are among the key location for setting up industries and export of raw material for processing.

Fluorochemicals Market, By Product

Fluoropolymers market is forecast to witness over 10% CAGR up to 2024. The product find its applications scope in nonstick cookware, weather and chemical resistant fabrics. The segment accounted for over 15% of the industry share in 2015. Heat resistance, durability and high strength are key properties to use the product in fire safety equipment in automobile and aircraft.

Fluorocarbons market size is anticipated to exceed 2.2 million tons by 2024. The product is used in aerosol propellant, refrigerant, solvent and blowing agents in refrigerator and automobiles sector. Rising issues associated with global warming and ozone depletion may impact product penetration. Hydrofluorocarbon is foreseen to be the potential substitute in the industry.

Inorganics and specialty fluorochemicals market will surpass USD 10 billion by 2024.  Sodium fluoride is an inorganic fluorochemical compound and is widely utilized in dental care and as an additive in toothpaste.

Fluorochemicals Market, By Application

Aluminum production application will be fueled by surge in demand for commercial electrical appliances coupled with infrastructure development across the globe. Aluminum acts as an important raw material in industries. Low maintenance and lightweight aluminum are key benefits positively influencing fluorochemicals demand in manufacturing electrical poles, bridges and road signs.

Blowing agent applications demand will exceed 450 kilo tons by 2024. Food processing, cold storage, cooling plants and material packaging are key contributing segments.

Fluorochemical find wide applications as refrigerant in domestic refrigerant and air conditioning devices. Rise in global consumption of refrigerator and air conditioning equipment should drive the industry growth. Increase in liquidity and spending capacity of people in developing nations like India has resulted in rise in consumption of fluorochemicals as refrigerant.

Other niche and potential applications include semiconductors. Fluorochemicals find applications in manufacturing screen display for television, monitors and electronic displays. The product is also used in producing light bulbs and devices consisting plasma screens. Electronics industry expansion due to increase in consumer affordability will support industry growth.

Fluoro-surfactant find applications in industrial cleaning, India is among the top importer of these surfactants owing to absence of domestic players in the market. Growth in applications in pharmaceutical and chemical processing industry is expected to further propel fluorochemicals market growth.

Fluorochemicals Market, By Region

North America fluoropolymers market size is forecast to witness over 8% CAGR up to 2024. The product is mainly used as surfactants in household and industrial appliances. Rising demand for electrical, automobiles drive regional industry growth. Regulations implemented under Kyoto and Montreal protocols may impose threat to the regional manufacturers.

Asia Pacific fluorochemicals market size from refrigeration was worth over USD 3.3 billion in 2015. Increase in manufacturing capacity of refrigeration and air conditioning equipment will stimulate regional demand. Shifting trend towards use of indoor air conditioning devices on large volume in commercial and residential buildings is another lucrative factor.

Europe fluorochemicals market demand from inorganics and specialty segment will witness over 3% growth up to 2024. With high spending expenditure on healthcare in U.K., Germany, France and Italy is expected to drive the fluorochemicals market growth.

Competitive Market Share

Fluorochemicals market is fragmented with key industry players accounting for more than 40% of the overall industry share.  Major industry players include Daikin, DuPont, Asahi Glass, Solvay, 3M, Arkema and Dongyue. Other notable industry participants are Honeywell International Incorporated, Mitsui Chemicals, MDA manufacturing, Jiangxi Datang Chemicals.

Product portfolio expansion and increase in manufacturing capacity are key strategies implemented by the companies. For instance, in April 2012, Daikin declared about expansion of product portfolio in fluorochemical which finds applications in displays and touch panels. In June 2012, Arkema SA declared the expansion of production facility aiming towards growth in production of fluoropolymers. In July 2015, Solvay declared about supply of fluoropolymers to Amcor for photovoltaic sheets.

Fluorochemicals Industry Background

Fluorochemicals market is a part of specialty chemicals which is anticipated to exceed market worth around US$1,200 bn by 2024. Global specialty chemicals market will be led by automotive and construction applications. China is among top motor vehicle producing countries in the world holding more than 25% of global market share for automobile production in 2015. With the increase in wide range of applications of specialty chemicals in automotive industry should drive the market growth.

Fluorochemical is obtained from mining fluorite, a kind of colorful mineral. It is used in manufacturing fluorocarbons, fluorocarbons and fluorine gas. Fluorite is also used in manufacturing sodium fluoride, cobalt difluoride, potassium fluoride and nickel difluoride. These find wide applications in chemical and electronics industries, is expected to fuel the market growth.

The industry is driven by rapid industrialization and construction industry. Asian countries are among the top regions with flourishing industrial growth owing to availability of vast land coupled with cheap labor. Furthermore, favorable FDI policies has added benefit to boost the market growth. Stringent government regulations for product manufacturing and usage are driving chemicals industry towards bio-based alternatives. Use of environment friendly techniques is mandatory in developed countries to reduce the adverse effect of rapid industrialization.

What Information does this report contain?

What was the historic market data from 2012 to 2014, what is the industry growth forecast from 2015 to 2024?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2024?
What are the technology & innovation trends, how will they evolve by 2024?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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