LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global fluorochemicals market is expected to grow at a CAGR of more than 4%, in terms of volume, during the forecast period.
This research report titled ‘Global Fluorochemicals Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|In 2015, APAC dominated the global market with a share of 44%, and the market in the region is expected to grow at a CAGR of 5.52% during the forecast period. Leading APAC nations like China, India, Japan, and Australia are registering an increase in demand for fluorochemical products for use in the production of aluminum, and also from the pharmaceuticals, automobile, and aerospace sectors.|
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Based on product type, the report categorizes the global fluorochemicals market into the following segments:
Global fluorochemicals market by product type 2015 (%)
Global fluorocarbons market
With a share of 48%, fluorocarbon was the largest segment of the global fluorochemicals market in 2015. Fluorocarbons are compounds that are formed when fluorine is covalently bonded to carbon atoms in varying number and different configurations. The strength and stability of these covalent bonds give fluorocarbons their unique properties to function like refrigerants, lubricants, solvents, propellants, and stain-repellent products.
“The global fluorocarbons market is expected to grow at a faster rate in comparison to the global fluorochemicals market, due to the increase in its demand worldwide for use in various applications like blowing agents, packaging, solvents, refrigerants, and aerosol propellants,” says Swapnil Tejveer Sharma, a lead specialty chemicals research analyst at Technavio.
Global inorganics market
With a share of 24%, the global inorganics market was the second-largest segment of the global fluorochemicals market in 2015. Inorganic fluorochemicals mostly include inorganic fluorine gas, metal fluorides, synthetic cryolites like sodium hexafluoroaluminate, aluminum trifluoride, fluorosilicates, and silicofluoride. Fluorosilicates and other important inorganics like cryolites and metal fluorides are manufactured from hydrogen fluoride (HF). The common sodium fluorosilicate is used in water fluoridation and also for the treatment of laundry effluents. Magnesium fluoride (MgF2) is widely used as an anti-reflection coating for optical equipment and spectacles. Other important fluorides manufactured are cobalt/nickel difluoride and lithium/sodium/potassium/ammonium fluoride. These compounds find use mainly in water fluoridation, as flux in metallurgical processes, organofluorine synthesis, and also in the electronics industry.
Global fluoropolymers market
In 2015, the global fluoropolymer market was the third-largest segment of the global fluorochemicals market, with a share of 20%. Fluoropolymers are fluorocarbons containing polymers or monomers like perfluorocycloalkene, vinyl fluoride, propylene, and vinylidene fluoride, which give these compounds their high-performance material features. These are used as thermostats and thermoplastics. Even though these are slightly more expensive than other polymers, their consumption is increasing at a fast rate. Owing to their unique properties, these compounds find use in applications like coatings of cookware, bakeware, and various types of rugged all-weather apparels. With the implementation of the Montreal and Kyoto Protocols, fluoropolymers have started finding wide usage in reducing levels of volatile organic compounds (VOCs) in automobiles.
Global specialties market
With a share of 8%, the global specialties market was the smallest segment of the global fluorochemicals market in 2015. Specialty fluorochemicals include fluorosurfactants, fluorinated latex paint additives, fluorinated blowing agents, anti-stain and anti-reflective coating, and fluorochemicals for pharma and crop protection. All these compounds find applications in the agriculture and pharmaceutical industries. These compounds are also used in the manufacture of photoresists, surfactants, dyes, liquid crystals, plastics, ion-exchange membranes, and custom-based fluorochemicals like Fluoryx, Fluon resins, and elastomers.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Honeywell International
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