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Demand Shortage in Automobile Sector Due to COVID-19 Affects Market Growth

Fluorochemicals and tire cord fabric units are reflecting a sluggish demand in the automobile sector and room air conditioners, owing to the COVID-19 outbreak, as the spending capacity of consumers has become limited due to the onset of the pandemic. Such trends are affecting business activities for companies in the fluorochemicals market.

Gujarat Fluorochemicals Limited (GFL) - an Indian producer of chloromethanes, refrigerants and polytetrafluoro-ethylene is expecting to reach a 50% capacity utilization by the end of 2021 and 100% by the end of 2022. Indian producers are facing delays in obtaining final client approvals for few grades of fluorochemicals, since many overseas clients are grappling with limited manpower due to the coronavirus pandemic. This is affecting the expansion of the fluorochemicals market.

fluorochemicals market segmentation

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Fluorochemicals Hold Promising Potentials to Gain Prominence in Water Repellent Fabrics

Fluorochemicals repellents are found to have much lower surface energies than hydrophobic and silicon repellents. Manufacturers in the fluorochemicals market are boosting their output capacities in fluorochemical fabrics that are relatively more soft, smooth, and flexible than hydrophobic and silicon fabrics. However, fluorochemical fabrics found in raincoats, sportswear, and medical bandages are associated with poor durability, harsh handle, and low breathability. Hence, companies are experimenting with dodecafluoroheptyl methacrylate and other compounds to innovate in fluorinated acrylic copolymer emulsion treatments for fabrics and other water repellent products.

Fluorocarbon surfactant is used as hydrophobic monomers and emulsifiers to deploy water repellency in different fabrics.

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FEP Resins Serve as Alternative to PFA in Electrical & Electronic Applications

The global fluorochemicals market is estimated to surpass a valuation of US$ 53.1 Bn by the end of 2031. This is evident since fluoropolymers are gaining prominence in electrical and electronic applications. Manufacturers are increasing their production capacities in fluorinated ethylene propylene (FEP) resins that are melt processable fluoroplastics produced by conventional melt extrusion techniques, transfer, and injection molding processes.

FEP resins are increasingly replacing perfluoroalkoxy alkanes (PFA), since the former is highly processable due to their low melting temperatures. Such advantages are helping manufacturers to expand their business with FEP resins in cable insulation, tube extrusion, and molding for lining component applications. Manufacturers in the fluorochemicals market are increasing the availability of low dielectric constant, transparent, and UV resistant FEP resins that deliver resistance to corrosion, heat, and flame.

New Processes for Fluorine’s Functional Contribution Drive Market

Fluorochemicals are generally plagued with a negative image, especially in context to fluoride being associated as a bio-accumulative poison, its linkage with nuclear energy, and contribution to global warming. However, fluorine is increasingly gaining prominence in fluoropolymers, refrigerants, and fluoro-organics such as agrochemicals and pharmaceuticals. BFluor Chemicals - a South Africa-based specialist in fluorochemicals is taking advantage of this opportunity to develop new processes and products based on fluorine’s functional contribution to various end-use applications.

Companies in the fluorochemicals market are establishing stable revenue streams by increasing focus on non-stick kitchen pans. This signals why the market is expected to advance at a favorable CAGR of ~6% during the forecast period.

Increased Regulatory Norms Compel Manufacturers to Increase Price of Fluorocarbon Polymers

Fluorocarbon polymers are being publicized in essential applications where water and oil barrier is needed. Companies in the fluorochemicals market such as Archroma announced in November 2020 that it is increasing the price for its fluorochemical range by 20%. These fluorocarbon polymers are being used to manufacture personal protective equipment (PPE) for healthcare professionals and technical textiles.

Companies in the fluorochemicals market are bolstering their research efforts to achieve the highest level of sustainability to ecologically and economically manufacture repellency products. Increased regulatory norms and other costs have driven suppliers and manufacturers to increase the price of fluorocarbon polymers. Companies are investing in their existing manufacturing technology and processes to produce fluorocarbon polymers in the safest possible way for consumers and the environment.

fluorochemicals market infographic

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Analysts’ Viewpoint

Capacity utilization is currently low for manufacturers in the India fluorochemicals market due to COVID-19-related hangover impacting material availability. FEP resins are highly applicable in the high-speed extrusion of flame-resistant coated wires, high-end LAN (Local Area Network) cables, and high frequency cables. However, an increase in regulatory norms has led to a rise in the prices of fluorocarbon polymers, thus affecting market growth, especially in relation to the development of water and oil repellent technical textiles and PPE for healthcare professionals. Hence, companies should tap into incremental opportunities in alternate revenue streams such as in refrigerants that are adaptable to various operational conditions and pharmaceuticals to improve drug properties.

Fluorochemicals Market: Overview

  • Fluorochemicals offer properties such as high tensile strength, fire resistance, electrical insulation, anti-corrosion, low weight, and high vapor barrier. Therefore, fluorochemicals are suitable for usage in a wide range of applications. Constant R&D has also helped develop several new applications of fluorochemicals. For instance, fluorochemicals are now being employed in industries such as agriculture, healthcare, electronics, and textiles.
  • Fluorochemicals are used in agrochemical compounds, pesticides, insecticides, and herbicides in agriculture; and semiconductors, plasma screens, and light bulbs in electronics. They are also employed in dental and pharmaceutical fields in the medical industry; and membranes, apparel, and outdoor gears such as tents, backpacks, footwear, and sleeping bags in the textile industry.
  • The global fluorochemicals market is primarily driven by rise in industrialization and expansion of the construction industry. Automobile and refrigerants are the other industries that play an important role in the growth of the fluorochemicals market.
  • According to Transparency Market Research’s latest research report on the global fluorochemicals market for the actual year 2020, and the forecast period 2021 to 2031, rise in usage of fluorochemicals in refrigerants is a key factor that is expected to boost the global fluorochemicals market during the forecast period
  • In terms of revenue, the global fluorochemicals market is estimated to surpass US$ 53.1 Bn by 2031, expanding at a CAGR of ~6% during the forecast period

Increase in Demand for Aluminum: Key Driver of Fluorochemicals Market

  • Aluminum is used in a large range of applications, from construction and automobiles to packaging and electric power, due to its lightweight property. Inorganic and specialty fluorochemicals are commonly used in the manufacture of aluminum.
  • Demand for aluminum is estimated to rise steadily during the forecast period. Thus, the demand for fluorochemicals is also projected to remain steady in the near future.
  • Consumption of aluminum has been increasing in the aerospace industry since the past few years. Expansion of the construction industry in Continental Europe is also stimulating the demand for aluminum. Additionally, demand for aluminum continues to increase in mechanical engineering and packaging markets. This is expected to drive the fluorochemicals market in the near future.

Fluoropolymers Dominated Fluorochemicals Market in 2020

  • Based on product, the fluoropolymers segment dominated the global fluorochemicals market in 2020
  • Fluoropolymers are extensively used in the fluorochemicals market. Increase in the number of applications of fluoropolymers in various industries is expected to boost the segment’s share during the forecast period. The relatively environment-friendly nature of fluoropolymers is also expected to drive the segment’s share in the market. In terms of value, the fluoropolymers segment is anticipated to expand at a CAGR of 7.2% during the forecast period, owing to the extensive usage of fluoropolymers in the automotive industry.
  • In terms of volume, fluorocarbons is the major segment of the global fluorochemicals market. The segment can be further divided into HCFCs, HFCs, and others. HCFCs and HFCs capture the majority share of the market. However, the share of HCFCs is projected to decline during the forecast period, as these are harmful to the environment.

Rise in Application of Fluorochemicals in Refrigerants

  • Based on application, the refrigerants segment accounted for the major share of the global fluorochemicals market in 2020. Rise in usage of refrigerants across industries ranging from HVAC to food processing is estimated to drive the segment during the forecast period.
  • The Refrigeration & Air Conditioning (RAC) industry has been expanding since the last decade due to rise in investments by the corporate sector in the production of milk & dairy products, increase in construction activities, and rapid industrialization. Increase in need for energy efficient HVAC systems is also expected to drive the RAC industry in the near future. This, in turn, is projected to boost the demand for fluorochemicals, as fluorochemicals are used in the manufacture of refrigerants.
  • Aluminum production is another prominent segment that is expected to expand significantly during the forecast period

Fluorochemicals Market: Competition Landscape

  • Detailed profiles of providers of fluorochemicals have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global fluorochemicals market are
    • DuPont de Nemours, Inc.
    • DAIKIN INDUSTRIES, Ltd.
    • Solvay SA
    • Asahi Glass Company
    • Arkema
    • Honeywell
    • Pelchem
    • Mitsui Chemicals Inc.
    • The Chemours Company
    • The 3M Company

Fluorochemicals Market: Key Developments

  • Key providers of fluorochemicals, such as DuPont de Nemours, Inc, DAIKIN INDUSTRIES, Ltd, Mitsui Chemicals Inc, The Chemours Company, and Solvay SA are focusing on research & development, mergers, joint ventures, collaborations, and product innovation of fluorochemicals
  • In the global fluorochemicals market report, we have discussed individual strategies, followed by company profiles of providers of fluorochemicals. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global fluorochemicals market.

Fluorochemicals Market – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global fluorochemicals market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global fluorochemicals market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global fluorochemicals market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global fluorochemicals market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global fluorochemicals market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global fluorochemicals market and estimates statistics related to growth of the market in terms of volume (kilo tons) and value (US$ Mn).

This study covers a detailed segmentation of the global fluorochemicals market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global fluorochemicals market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Fluorochemicals Market

The report provides detailed information about the global fluorochemicals market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global fluorochemicals market, so as to help them design successful strategies and make target-driven decisions.

  • Which application segment of the global fluorochemicals market would emerge as major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of fluorochemicals?
  • What would be the Y-o-Y growth trend of the global fluorochemicals market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global fluorochemicals market?
  • Which product segment is expected to create lucrative opportunities for the global fluorochemicals market during the forecast period?
  • Which are the leading companies operating in the global fluorochemicals market?

Research Methodology – Fluorochemicals Market

The research methodology adopted by analysts for compiling the global fluorochemicals market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the global fluorochemicals market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global fluorochemicals market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global fluorochemicals market.

Fluorochemicals Market – Segmentation

TMR’s research study assesses the global fluorochemicals market in terms of product, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global fluorochemicals market.

Product
  • Fluorocarbons
    • HCFC
    • HFC
    • Others (including Teflon)
  • Fluoropolymers
  • Fluoroelastomers
  • Others (including Inorganics)
Application
  • Refrigerants
  • Aluminum Production
  • Plastic Foams
  • Electricals & Electronics
  • Others (including Paper & Pulp and Water Filtration)
Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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