Dublin, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The "Fluorochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global fluorochemicals market exhibited significant growth in 2022, with a size of US$ 23.1 Billion. Looking ahead, the market is expected to maintain a robust growth rate, reaching US$ 31.0 Billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period of 2023-2028.
Fluorochemicals: Versatile Chemical Compounds with Diverse Applications
Fluorochemicals are chemical compounds that contain fluorine and offer effective repellency against aqueous and oil-based substances. They play a crucial role in removing water, soil, and oil particles from various surfaces such as metals, papers, carpets, and fabrics. These versatile compounds are instrumental in the production of abrasion, chemical, and fire-resistant polymers, which are used in non-stick cookware, grease-resistant pizza boxes, aircraft hydraulic fluids, and breathable rain jackets.
Additionally, fluorochemicals serve as additives in lubricants for recording media, firearms, conveyor chains, and combustion engines. They find widespread applications in industries including electronics, petrochemicals, agrochemicals, construction, personal care, and pharmaceuticals across the globe.
Key Trends Driving the Fluorochemicals Market Growth
Several key trends are propelling the growth of the fluorochemicals market:
- Rising Demand in Semiconductor and Electronics: The increasing use of plasma etching in semiconductors and light bulbs to enhance their properties has driven the demand for fluorochemicals. They are also essential in the production of flat display panels and plastics like polytetrafluoroethylene (PTFE).
- Growth in Construction and HVAC Industry: The global construction industry's demand for heating, ventilation, and air conditioning (HVAC) technology, coupled with rising construction activities, has contributed to market growth.
- Refrigeration in Food and Beverage (F&B) Industry: The F&B industry's need for refrigeration to store food products conveniently has positively impacted the market.
- Healthcare Industry Applications: Fluorochemicals are utilized in various healthcare applications, including medical implants, due to their high biocompatibility, creating growth opportunities in the healthcare sector.
- Automotive Industry: The increasing use of aluminum in the automotive sector is driving the demand for fluorochemicals.
Key Market Segmentation
The report provides detailed segmentation of the global fluorochemicals market:
Breakup by Type:
- Fluorocarbons
- Fluoroelastomers
- Fluoropolymers
- Inorganics
- Others
Breakup by Application:
- Surfactants
- Propellants
- Aluminum Production
- Refrigerant
- Automobile
- Agrochemicals
- Others
Breakup by End Use:
- Electrical and Electronics
- Petrochemicals
- Chemicals
- Aerospace
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape
The competitive landscape of the fluorochemicals industry includes key players such as 3M Company, AGC Inc., Arkema S.A., Daikin Industries Ltd., and others. These companies are driving innovation and growth in the market.
Key Questions Answered in This Report
This report addresses crucial questions about the global fluorochemicals market:
- What is the current size of the global fluorochemicals market?
- What is the expected growth rate of the market through 2023-2028?
- What factors are driving the market's growth?
- How has COVID-19 impacted the fluorochemicals market?
- What are the market segments based on type and application?
- Which regions are key players focusing on?
- Who are the major companies shaping the global fluorochemicals market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $23.1 Billion |
| Forecasted Market Value (USD) by 2028 | $31 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/5barzr
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