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Fluorochemicals Market (2021 to 2027) – Growth, Trends, COVID-19 Impact and Forecasts

Dec 8, 2021 9:00 PM ET

Fluorochemicals Market (2021 to 2027) – Growth, Trends, COVID-19 Impact and Forecasts

Overview

The global fluorochemicals market is anticipated to grow at 6.10?GR during the forecast period 2018 to 2023. Escalating demand in the commercial refrigeration sector and the rising demand for hydrofluoride will be the key factors determining growth potential of the fluorochemicals market, suggest analysts. The market report suggests that surging preference of ammonia as well as stringent regulations will affect the market growth. During the forecast period 2018 to 2023 the market for fluorochemicals will reach US$36,755.7 million by 2023 The growth in the market to remain positive across all the type, applications, and industries segments, however, segments like electrical and electronic have experienced increased growth during the forecast period 2018 to 2023.

Companies increasingly adhering to environmental norms and need for reduced carbon emission are said to be the key fluorochemicals market growth factors. Although, during the forecast period 2018 to 2023, the factors like alternative products and Kyoto and Montreal protocols could hamper the market growth. The global market report also covers type, applications, and industries segments and in-depth analysis of Europe, Asia-Pacific, North America, and the Middle East and Africa regions.

Market Segmentation

The global market is segmented based on type, applications, and industries. The market is further segmented based on type into fluoropolymers, inorganics, specialties, and fluorocarbons. The market is also segmented into aluminum, automobile, blowing agents, films, refrigeration, tubings and others on the basis of applications. Furthermore, the fluorochemicals market is categorized based on industries into chemical processing, construction, consumer goods, electrical and electronics, industrial equipment, pharmaceuticals, automotive and transportation, and others.

Imposition of regulations restricting the use may hinder the Fluorochemicals Market growth. The market research report suggests that companies in the fluorochemicals market could be supported by commercial refrigeration and automobile industries during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The type, applications, and industries segments along with regional markets have been analyzed in the global market research report. The research analysts studying the market have put out market forecasts in the fluorochemicals market research report in order to support fluorochemicals market-based companies. The research report provides an extensive understanding of the fluorochemicals market based on the information and forecasts till 2023.

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Regional Overview

The fluorochemicals market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global market research report reveals that APAC and North America regions will dominate the global market for fluorochemicals during the forecast period 2018 to 2023. As per market analysts, the market is set to witness tremendous growth across electrical and electronic segments in North America which covers fluorochemicals markets across the United States, Canada, Mexico and several other regional markets. Companies active in the fluorochemicals market are also analyzed and studied in the research report.

Growth factors such as increasing disposable income as well as the striking growth in industrialization are set to drive the market growth across the European regional market for fluorochemicals. This region covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the research report covers the Asia-Pacific region covering fluorochemicals markets from India, China, Japan, Australia, and others. The report is also spread across the rest of the world. The fluorochemicals market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

The demand for fluoropolymers has increased significantly over the years, due to escalating aluminum production and rising focus on renewable energy. Companies functioning in the global fluorochemicals market are also being challenged due to regulations leading to reduced carbon emissions known as F-gases and chemicals with high global warming potential. Mergers and acquisitions by fluorochemicals market companies are anticipated to help the market during the forecast period 2018 to 2023. As the market is set to register a high CAGR of 6.10% and is also anticipated to reach a US$36,755.7 by 2023, the report highlights key areas companies need to focus on. Based on SWOT analysis and fluorochemicals market’s analysis based on Porters’ Five Force Model presented in the market report.

The rising focus on renewable energy, as per the fluorochemicals market research report will support the growth. The global market might face slow growth due to slow demand for fluoropolymers. The report suggests that the fluorochemicals market will see a healthy growth in the long run till 2023. The fluorochemicals market research report offers detailed analysis of major organizations across the fluorochemicals market. The global market research report offers analysis based on data collected from the fluorochemicals market’s decision makers as well as primary and secondary sources. The market research report presents analysis-based information for companies functioning in the fluorochemicals market.

Industry News

Piramal Enterprises Limited concluded the takeover of Convergence Chemicals Private Limited for a total registered capital of Rs65.10 crore. During trading, the stock price was up. Each company’s shares were trading at Rs1903.50 on the BSE, up Rs44.70 or 2.40 percent from its earlier estimate of Rs1,858.80. It already has surpassed the previous day’s maximum of Rs1910 per piece.

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