Fluorochemicals Market to Garner $29.8 Billion by 2026: AMR | Financial Buzz

Fluorochemicals Market to Garner $29.8 Billion by 2026: AMR

Portland, OR, Feb. 20, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global fluorochemicals market generated $21.4 billion in 2018, and is expected to generate $29.8 billion by 2026, portraying a CAGR of 4.2% from 2019 to 2026. The research provides a detailed analysis of changing market dynamics, key investment pockets, detailed segmentation, and competitive landscape.

Increase in demand for products of commercial refrigeration from different countries and surge in implementation in electrical & electronic applications fuel growth of the global fluorochemicals market. However, hazardous effects related to fluoropolymers on the environment hinder the market growth. On the other hand, rise in demand from the industrial maintenance industry create lucrative opportunities in coming years.

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On the basis of type, the fluorocarbons segment held more than one-fourth of the total market share in 2018, and is estimated to maintain its leadership position throughout the forecast period. This is due to rise in refrigerant demand from emerging countries including Asia-Pacific and LAMEA. However, the fluoroelastomers segment is projected to grow at the fastest CAGR of 5.1% during the forecast period. This is due to rise in adoption from the chemicals industry owing to the excellent performance in high-temperature and corrosive work conditions.

On the basis of end use, the chemicals segment accounted for the largest market share of the global fluorochemicals market, holding nearly one-third of the total share in 2018, and is expected to maintain its dominant position based on revenue by 2026. This is due to preference for fluorochemicals chemical processing due to its superior qualities such as high flexibility, tensile strength, chemical resistance, temperature resistance, reliability, and durability. Contrarily, the electrical & electronics segment is estimated to register the largest CAGR of 4.8% from 2019 to 2026.

Based on region, Asia-Pacific held the largest market share, accounting nearly half of the total share in terms of revenue in 2018, and is projected to dominate during the forecast period. North America accounted for the second-highest market share in 2018. However, Europe would maintain the fastest CAGR of 5.4% from 2019 to 2026.

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Leading market players analyzed in the research include Arkema S.A., DuPont, Daikin Industries, Ltd., Halocarbon Products Corporation, Dongyue Group Co., Ltd., Kureha Corporation, Honeywell International, Inc., Solvay SA, Pelchem SOC Ltd., and The 3M Company.

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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