Pune, India, June 14, 2019 (GLOBE NEWSWIRE) -- As per the report by Market Research Future (MRFR), Global Fluorochemicals Market is projected to expand at 6.10% CAGR through the forecast period of 2017-2023. Fluorochemicals are an essential chemical agent used in different manufacturing sub-sectors. It is one of the most dominant ingredients having a wide industrial application, and which will continue to find different application opportunities in the foreseeable future. This broad scope of use is bound to push the Global Fluorochemicals Market to a great extent during the forecast period.

A concentrated demand for fluorochemicals in various end-use industries such as electrical & electronics, building & construction, automotive & transportation, pharmaceuticals and industrial equipment, and chemical processing are estimated to drive the Global Fluorochemicals Market to a great extent. Further, a higher inclination towards the adoption of fluoropolymers for applications in water filtration, solar, and photovoltaic is assessed to push the Fluorochemicals Market to a great extent. Also, rising support for renewable energy, supportive government initiatives are estimated to promote sizeable growth in the Global Fluorochemicals Market through the review period.

Moreover, Fluorochemicals such as HCFCs and HFCs have been used extensively in the manufacture of polyurethane foam. The demand for polyurethane foam is skyrocketing in the construction sector, directly impacting the need for Fluorochemicals during the assessment period. Additionally, rising investments in the construction sector are likely to impact market growth positively during the assessment period. In contrast, strict regulations introduced by international organizations such as the Montreal Protocol and Kyoto Protocol are likely to hinder this market growth to some extent.

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Key Players:

The Global Fluorochemicals Market boasts the presence of many influential market giants. Such prime market players are profiled in the latest Market Research Future Analysis including Gujarat Fluorochemicals Ltd, Daikin Industries Ltd, SRF Limited, KUREHA CORPORATION, Arkema SA, Halocarbon Products Corporation, Alufluor AB, The Chemours Company, Fluorsid SpA, DowDuPont, Solvay, and 3M.

Industry Update:

June 2019: Böllhoff is set to showcase its three complementary systems at Paris Airshow. One of the products includes Helicoil Primer-Free 2. This product is protected against magnesium or aluminum components against galvanic corrosion through a Teflon-impregnated fluoropolymer coating.

May 2019: PPG recently announced and highlighted their application of PPG DURANAR coatings on several award-winning and innovative building structures. Alongside, PPG also exhibited their high-performance PPG CORAFLON powder coatings which are based on fluoroethylene vinyl ether (FEVE) and fluoropolymer resins.

Summary:

The latest research report by Market Research Future (MRFR), the Global Fluorochemicals Market is anticipated to record a 6.10% CAGR during the forecast period of 2017-2023. Various factors influencing positive ascension in the Global Fluorochemicals Market include a wide scope of application in various end-use industries, a noticeable shift towards the adoption of Fluoropolymers, and rising awareness towards the positive effects of renewable energy. Further, supportive government policies are also expected to push sizeable growth in the Global Fluorochemicals Market during the conjectured time period.

Market Segmentation:

The Global Fluorochemicals Market is studied for different segmentations carried out based on Type, Application, End-Use Industry, and Region.

Based on Type, Global Fluorochemicals Market is segmented into fluoroelastomers, fluoropolymers, fluorocarbons, elemental fluorine, fluoropolymer additives, and inorganic & specialties. Among these segments, the fluorocarbons segment holds a principal share in the market and is likely to retain its supremacy through the forecast period. Such market dominance is accredited to the rising demand for refrigerants in HVAC systems, automobile air conditioning, and refrigerators.

Browse the market data and information spread across 293 pages with 413 data tables and 28 figures of the report “Fluorochemicals Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/fluorochemicals-market-1554

Based on Application, Global Fluorochemicals Market is segmented into refrigeration, blowing agents, aluminum production, films, tubing, and paint strippers. The refrigeration segment is estimated to dominate the Global Fluorochemicals Market, just like it did at the beginning of the forecast period. The segment is anticipated to expand at 6.61% CAGR over the review period owing to the rising demand for refrigerants in HVAC systems, air conditioning, and refrigerators.

Based on End-Use Industry, Global Fluorochemicals Market is segmented into electrical and electronics, construction, industrial equipment, automotive & transportation, pharmaceuticals, chemical processing, and consumer goods. Within these, the electrical & electronics segment accounts for the highest share of the Global Fluorochemicals Market. The electrical & electronics segment was valued at USD 8,372.4 million in 2017 and is projected to exhibit a valuation of USD  12,256.4 million by the end of the forecast period.

Asia Pacific to Record Valuation of USD 15 Mn During Forecast Period

The Global Fluorochemicals Market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regional segments, the APAC region accounted for the largest market share and is also anticipated to remain in dominance during the assessment period. It is expected to reach a market valuation of USD 15 million by the end of 2023, from USD 11,187.7 million at the beginning of the forecast period. An upsurge in the production of electric and lightweight vehicles is likely to push the Fluorochemicals Market in the coming years.

North America is estimated to follow Asia Pacific and garner the second largest share of the Fluorochemicals Market through the assessment period. It is projected to retain its market position even in the forecast period. The U.S. is likely to spearhead the country-specific market for Fluorochemicals over the review period. On the other hand, Latin America is anticipated to hold the smallest share of the Global Fluorochemicals Market and is assessed to record a 6.21% CAGR across the review period.

Europe is predicted to be an important growth pocket for Fluorochemicals Market and is estimated to witness an upwards ascension in the near future. The leading country-specific markets include Italy, Germany, and France. Similarly, the Middle East & Africa are also estimated to showcase sizeable growth opportunities and are expected to grow by USD 1050 million between 2017-2023.

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