The global Fluorochemicals Market is expected to reach USD 31.23 Billion by 2028, according to a new report by Reports and Data
NEW YORK, NEW YORK, UNITED STATES, July 5, 2022 /EINPresswire.com/ -- Increasing demand for refrigerants is a significant factor estimated to stimulate market demand.
The global Fluorochemicals Market is expected to reach USD 31.23 Billion by 2028, according to a new report by Reports and Data. The significant factor fueling the growth of fluorochemicals market is the increase in requirement for refrigeration across numerous end-user industries. Rising temperatures along with demand for cold storage systems across the globe and climate control systems have stimulated the demand for HVAC and refrigeration systems, which in turn would have a positive impact on the fluorochemicals market growth.
Increase in number of applications for organic fluorochemicals in healthcare, pharmaceuticals, and automobile industries support market growth. Application of these chemicals in the pharmaceutical industry due to its incombustible nature is likely to push the market demand in the upcoming years. It is highly used as an anesthetic agent in dental care. Increased R&D expenditure especially in the pharmaceutical sector to develop novel product range is anticipated to drive market growth. Increase in automobile production owing to rising consumer economic standards will support demand for aluminum production, which is one of the major applications of fluorochemicals.
Key companies profiled in the report include
3M, DuPont, Honeywell, Solvay SA, Pelchem, Mexichem, Archema SA, Dongyue, Halocarbon Products Corp., and Daikin Industries among others.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1335
The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Fluorochemicals market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
Order this Report @ https://www.reportsanddata.com/report-pricing/1335
The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Fluorochemicals Market Segmentation based on Types:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Organic
Inorganic
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Refrigerant
Blowing Agent
Aluminum Production
Agrochemicals
Lubricants
Propellants
Components
Surfactants
Specialty Chemicals
Others
End-user Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
Chemical
Petrochemicals
Food & Beverages
Pharmaceuticals
Automotive
Aerospace
Electrical & Electronics
Textile
Paints & Coatings
Architectural
Others
Further key findings from the report suggest
Organic products contributed to the largest market share in 2020 with a growth rate of 5.0% in the forecast period. Fluorocarbons held a market size of around 50% in 2020. It is likely to lose share to inorganic and polymer counterparts in light owing to strict regulatory norms in the U.S. and Canada to phase out CFC and HCFC compounds.
Refrigerant applications held the largest market share of around 45% in 2020. The increasing prominence of clean air systems in manufacturing industry coupled with rising installation of HVAC systems in automobiles is anticipated to support market growth in the forecast period.
The market in the APAC region contributed around 40% of the market share in 2020. Growth of the automotive industry in China, India, Indonesia, and Malaysia is projected to increase the application of refrigerants in HVAC systems for automobiles and as a result, contribute to market growth.
The large quantity of aluminum reserves in countries like China, India, and Australia together with the regulatory inclination to promote FDI in the domestic metal sector is anticipated to increase its application in the upcoming year. The Asia Pacific region is forecasted to experience significant gains in the period 2019-2028.
Request a customization on the report @ https://www.reportsanddata.com/request-customization-form/1335
Thank you for reading our report. For further inquiry or query about customization, kindly get in touch with us to know more. Our team will clear your doubts and ensure the report is customized to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Tushar Rajput
Reports and Data
+ 12127101370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
