Strides in the fluorine and carbon chemistries over the past few decades have veritably resulted in the production of fluorocarbon gases utilized in diverse applications. Most prominently, end-use industries have gained opportunities in the fluorocarbon gases market from the extensive use of these as refrigerants in air-conditioning of domestic, commercial and industrial buildings. Another key application on which revenues have prospered in the fluorocarbon gases market is the demand in the textile industry. However, for the last 25 years or so, worldwide growth has wavered due to the implementation of regulations to phase out hydrochlorofluorocarbons (HCFCs) and CFCs. Particularly in developed countries of the world, the fluorocarbon gases market has witnessed disruptive shifts.
The study on the fluorocarbon gases market offers a comprehensive overview of the growth dynamics, key products, recent manufacturing advances, and an in-depth insight into competitive landscape. The report assessments also take a closer look at the glaring constraints and the ways key manufacturers are trying to address consumer concerns.
Manufacturers worldwide have been hit hard by the implementation of regulations in numerous countries, in the light of mounting of ozone depletion concerns. Phasing out of these even in key applications areas such as in refrigerants is posing a tough challenge for players in in numerous countries. Further, decline in atmospheric concentrations of the fluorocarbon gases also show the dwindling use of fluorocarbons in various analytical processes. However, fluorocarbons per se are not toxic. Hence, existing players are looking for better chemical manufacturing technologies and processes to optimize their profits in the fluorocarbon gases market. Top stakeholders are expected to produce high-purity fluorocarbon gases to retain their competitive edge.
Some of the companies that have seemed to gain sizable revenues over the decades are Praxair, Honeywell International, Linde plc., Arkema, SRF Ltd., Hindustan Flurocarbons, Electronic Fluorocarbons, and Daikin Industries. Several of them have presence in air conditioning business or are prominent chemical companies engaged in the production of high-quality specialty gases.
Wide uptake of these gases in refrigeration application is a key trend bolstering the expansion of the fluorocarbon gases market over the past several years. Advances made in the chemistry of fluorocarbon have expanded the avenue for capitalization for chemical producers in the market. However, due to rising concerns of global warming and the role that ozone-depleting gases play in this, quantity of fluorocarbon gases has significantly plunged over the years. The key trend will continue to shape the contours of the fluorocarbon gases market. Even in air conditioning industry, the growth of the fluorocarbon gases market is expected to suffer on account of the shift of end users to adopt bio-friendly gases in refrigerants.
On the other hand, existing players are looking to improve the stability of fluorocarbon gases. Moreover, the demand in the fluorocarbon gases market is still significant in applications in developed economies that are supposedly of higher societal value.
Some of the major regional segments in the fluorocarbon gases market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, North America has been a lucrative market, propelled by still-significant demand in the air conditioning industry. Further, advances in analytical chemistries have enabled them to develop products of higher stability and performance. Asia Pacific has also proved to be a promising regional market in recent years. Furthermore, recent advances in carbon chemistries have also bolstered the prospects of the regional opportunities.
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