July 09, 2020
According to the research report titled ‘Global Fluorochemical Market (Value, Volume): World Market Review By Product Type, By Application, By End User Industry (2019 Edition): Opportunities and Forecast (2019-2024) - By Country, available with Market Study Report LLC, global fluorochemical market was worth USD 24,603.52 million with global production volume of 4,210 thousand tons in 2018 and is expected to record considerable growth through 2024.
Fluorochemical market has been growing consistently due to the property of fluorochemicals such as chemical resistance and thermal efficiency.
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Fluorochemicals are used in cooling mechanism of refrigerators and air conditioners. The increasing population, along with climatic changes has led to enhanced demand for refrigerators and air conditioners, thereby positively impacting global fluorochemical market. Furthermore, infrastructural expansion has increased residential and commercial construction ensuing high demand for HVAC systems in households, malls, stores, warehouses, and others.
Increasing demand for refrigerants, infrastructural expansion, expansion of pharmaceutical sector and expansion of agriculture sector are driving the growth of global fluorochemical market.
Based on product type, global fluorochemical market is divided into inorganic & specialties and fluoro carbon. Based on application spectrum, the market is bifurcated into fluorine gas, catalysts, steel picking, fluoro polymer, aluminum fluoride, and refrigerant. Speaking of end user scope, the market is categorized into chemical, health, automobile, textile, and electronics.
From a regional point of view, global fluorochemical market is fragmented into Asia Pacific, Europe, North America, and Rest of the World. Asia Pacific holds a significant market share in global fluorochemical market and is slated to depict a similar trend over the study period.
Major players in global fluorochemical market are Naveen Fluorine, SRF, Mitsui Chemicals, Arkema, Pelchem, and Daikin among others.