Fluorochemicals Market Outlook - 2026
The fluorochemicals market size was valued at $21.4 billion in 2018, and is expected to reach $29.8 billion by 2026, registering a CAGR of 4.2% from 2019 to 2026. Fluorochemicals can be defined as the compound having fluorine in their formulations.
The fluorochemicals market is expected to witness considerable growth owing to factors such as surge in the demand from automobile and commercial refrigeration industry. Commercial refrigeration industry has witnessed noteworthy growth specifically in the developing economies such as China, Brazil, Africa, and India. This is attributed to rise in the disposable income. However, the increase in stringent environment regulations on the fluorocarbons is expected to hinder the fluorochemicals market growth. For instance, environmental problems associated with hydro fluorocarbons has been one of the significant factor that hinders the market growth. On the contrary, the rise in aluminum production activities in Asia-Pacific region is expected to offer lucrative growth opportunities during the forecast period.
China’s is one of the significant players in aluminum market. This is attributed to the collaboration of the government and other industries for the development of advance technologies that helps to reduce processed waste and decrease production cost, thereby propelling the demand for aluminum fluoride.
Segment Overview
The fluorochemicals market is segmented into type, application, end use, and region. By type, the market is divided into fluorocarbons, fluoroelastomers, fluoropolymers, inorganics, and others. On the basis of application, the market is categorized into surfactants, propellants, aluminum production, refrigerant, automobile, agrochemicals, and others. On the basis of end use, the market is categorized into electrical & electronics, petrochemicals, chemicals, aerospace, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Fluorochemicals market share is analysed across all the segments and the main regions.
Fluoroelastomers is projected as the most lucrative segment.
By Type
Fluorochemicals Market By Type
By type, the fluorocarbons segment has garnered the highest market share in 2018 and anticipated to maintain its dominance throughout the analysis period. This is attributed to the large number of applications such as refrigerators, air conditioners, and others. The fluorocarbons segment is expected to witness slow growth in the developed regions owing to rise in the stringent environment regulations.
Refrigerant is projected as the most lucrative segment.
By Application
Fluorochemicals Market By Application
By application, the refrigerant gained highest market in 2018. It has garnered 29.4%. This is attributed to the rise in the demand from the developing economies such as India and China. India and China has witnessed considerable growth in commercial refrigeration market owing to which there is an increase in the demand for refrigerant. As refrigerant is majorly used in the refrigeration electronics such as refrigerators which consequently surge the demand for fluorochemcials.
Chemicals is projected as the most lucrative segment.
By End-use
Fluorochemicals Market By End Use
Based on end use, the electrical & electronics segment is expected to grow at a fastest rate. The smartphones usage is expected to continue driving consumer electronics growth, naturally supported by the low replacement cycle of two years. Mobile phone fields also dictate innovations and next moves in the rest of consumer electronics applications. The rise of connected appliances, IoT, and professional electronics owes it to the mobility acquired by our smartphones. The fast proliferation of wireless technologies, the availability of advanced features such as fingerprint scanners, and high-resolution display, provides ample growth opportunities to the consumer electronics market in general.
Asia-Pacific holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.
By Region
Fluorochemicals Market By Region
By region, Asia-Pacific has garnered highest market share, and anticipated to continue its dominance during the analysis period. This is attributed to the rise in consumer base in the region. Asia-Pacific consists of huge electronics manufacturing base. In addition, increase in disposable income is creating lucrative growth opportunities for the commercial refrigeration market in Asia-Pacific, which correspondingly the surges the demand for fluorochemicals. Fluorochemicals are used as refrigerants. Countries contributing majorly to the market in Asia-Pacific are China, Japan, and India. Europe has the second-highest market share in terms of application. This is attributed to the presence of huge automotive manufacturing market in the region.
Competitive Analysis
The fluorochemicals market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Arkema S.A., Daikin Industries, Ltd., DuPont, Dongyue Group Co., Ltd., Halocarbon Products Corporation., Honeywell International, Inc., Kureha Corporation, Pelchem SOC Ltd., Solvay SA, and The 3M Company.
Other players in the value chain of the fluorochemicals market include Precision Polymer Engineering, James Walker & Co, Polycomp Bv, TRP Polymer Solutions Limited, Mexichem Fluor S.A. de C.V., Hubei Everflon Polymer, China Reform Culture Holdings Co., LTD., and others.
Key players are adopting numerous strategies such as product launch, acquisition, collaboration, partnership, product development, agreement, and business expansion, to stay competitive in the market.
For instance, Solvay doubled its production of High performance polymer SOLEF-polyvinylidene fluoride (PVDF) at its plant located in China. By increasing production capacity, the company reinforces its leadership in lithium-ion batteries.
In addition, the 3M Company at Formnext 2019 showcased industry’s first 3D printed polytetrafluoroethylene (PTFE). With the new product the company will offer enhanced products for electronics application.
Key Benefits for Stakeholders
- The report provides an in-depth analysis of the forecast along with the current and future market trends
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the fluorochemicals industry for strategy building
- A comprehensive analysis of the factors that drive and restrain the growth of fluorochemicals market is provided
- The qualitative data in this report aims on market dynamics, fluorochemicals market trends, and developments
- The fluorochemicals market size is provided in terms of revenue
Fluorochemicals Market Report Highlights
| Aspects | Details |
 By Type |
|
 By APPLICATION |
|
 By END USE |
|
 By Region |
|
 Key Market Players | Dongyue Group Co., Ltd, Pelchem SOC Ltd, Arkema S.A, Solvay SA, Honeywell International, Inc, The 3M Company, Daikin Industries, Ltd, Halocarbon Products Corporation, DuPont |
Analyst Review
Various CXOs from leading companies perceive that high demand from automotive and electrical & electronics end-use segments boost the growth of the market. Moreover, an increase in demand for refrigeration products from developing countries, such as China and India, owing to rapid urbanization and a rise in consumer spending capabilities, drive market growth. However, the rise in stringent regulations on the utilization of greenhouse gases such as hydro chlorofluorocarbon (HCFC) is expected to hinder the growth of the market. On the contrary, the rise in demand for the Asia-Pacific market offers promising opportunities for the manufacturers, owing to the enhanced production of automobiles in India, China, and Australia and an increase in the number of manufacturers. In addition, the government’s initiatives in China to boost the production of aluminum are expected to positively impact the growth of the fluorochemicals market as fluorochemicals are used in the manufacturing of aluminum.
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