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(Construction.IndustryNews247.Com, August 20, 2018 ) Industry Trend Analysis
In 2012, the global fluorochemicals market was valued around USD 16.75 billion and is anticipated to reach approximately USD 26.45 billion by 2022 while maintaining a compound annual growth rate (CAGR) of 4.20% during the forecast period. Increasing HVAC system installations in automotive and manufacturing sectors is anticipated to boost refrigerant application and hence prone to drive the demand of fluorochemicals in the future. High opposition to acids, bases and natural solvents presented by fluorochemicals is projected to be vital for producing demand in construction, electronics, and automotive applications during the forecast years. Though, there is a potential hazard from ammonia as an alternate product, due to its low price and regulatory growths. Hydrofluorides are predicted to experience growth owing to the growth in aluminum production, driven mainly by its escalating use in construction and automotive sector. Aluminum production demand is anticipated to grow at a compound annual growth rate of 3.8% over the forecast period, concerning volume. Implementation of Kyoto and Montreal Protocols in North America and Europe, concerning the restraint on chemicals with elevated global warming potential (GWP), is anticipated to hinder the demand of fluorocarbon including HCFC and CFC.
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Product Outlook and Trend Analysis
In 2013, fluorocarbons ruled the market, reporting for around 50% of global market demand. It is likely to lose market share to the polymer and inorganic equivalents considering strict regulations in Canada and the United States to terminate HCFC and CFC compounds. Global fluoropolymers market is estimated to witness considerable growth during the forecast years, expanding at a compound annual growth rate of 10.2%, concerning volume. Growing fluoropolymer consumption in automotive, electronics, and construction industries as a result of rendering electrical insulation and high tensile strength is likely to impact the market growth positively during the projected period. In 2013, the demand for inorganic product was 986.7 kilo-tons and is anticipated to experience growth in view of rising application of aluminum fluoride, cryolite, fluorosilicate and silicofluoride in the production of aluminum and cleaning agents.
Application Outlook and Trend Analysis
In 2013, refrigerant applications ruled the global fluorochemicals market, reporting for around 40% of total market volume. Increasing significance of hygienic air systems in production industry coupled with rising HVAC system installations in vehicles is estimated to augment market growth in next few years. In 2013, demand for the component as well as other applications surpassed 1,250.0 kilo-tons and is anticipated to experience major growth taking into account the rising use in production consumables that are utilized in industrial and household appliances.
Regional Outlook and Trend Analysis
In 2013, Asia Pacific regional fluorochemicals market reported for around 45% of overall market volume. Optimistic outlook towards the automotive sector in India, Indonesia, Malaysia, and China is projected to augment the refrigerants’ applications in HVAC systems for automobiles and hence contribute to the growth of the market. The plenty of aluminum reserves in India, Australia, and China together with the regulatory preference to encourage FDI in the local metal segment is anticipated to augment its application in the future. Asia Pacific regional market is projected to experience major growth concerning volume at a compound annual growth rate of 5.2% during the forecast period. The United States government declared to terminate certain fluorochemicals counting in HCFC-142b and HCFC-22 (also called R-22) as of 2010 that is anticipated impact the market growth negatively during the forecast period.
Competitive Outlook and Trend Analysis
In 2013, four major manufacturers reported for around 40% of global fluorochemicals market. Major manufacturers are Chemours, Arkema SA, 3M, Solvay SA, Daikin Industries, Ltd., Honeywell International, Inc., Asahi Glass and Dongyue Group Ltd. Solvay started the production of NOVOLOK during July 2014 at Quzhou, China. 3M declared plans to implement an innovative non-toxic perfluorooctane-sulfonyl fluoride technology for formulating further new products in June 2010. These chemical substances can be utilized as water and oil resistant coatings. Novel product developments together with the growth of production in production units situated near or in high demand areas are anticipated to be the crucial success factors for market growth.
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The global fluorochemicals market is segmented as follows :
By Product
Fluoropolymers
Inorganics and Specialties
Fluorocarbons
HFC and Others
HCFC
By Application
Refrigeration
Blowing Agents
Aluminum Production
Components and Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
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