Fluorocarbon chemicals are organic or inorganic compounds that contain one or more fluorine atoms. These chemicals repel oil & water and exhibit high resistance towards aggressive physical or chemical conditions in the industrial processing. Rise in demand from HVAC systems has been driving the fluorocarbon chemicals market growth. The fluorocarbon chemicals market is predicted to witness considerable growth due to factors such as rise in the demand from automobile & commercial refrigeration industry.
As per analysis, “Global Fluorocarbon Chemicals Market, 2021-2027” the key companies operating in the global fluorocarbon chemicals market include Zhejiang Sanmei Chemical Incorporated Company, Arkema S.A, Zhejiang Juhua Co. Ltd., The Chemours Company, Changshu 3F Fluorochemical Industry Co. Ltd., Honeywell International Inc., Sinochem Group, Zhejiang Yonghe Refrigerant Co., Ltd., Daikin Industries, Ltd., Dongyue Group, Jiangsu Meilan Chemical Group Co., Ltd. and among others. Leading players in the fluorocarbon chemicals market are bolstering their research efforts to attain the highest level of sustainability to economically & efficiently manufacture repellency products. Improved regulatory norms have driven suppliers & manufacturers to increase the cost of fluorocarbon polymers. Players are investing in their presented manufacturing technology and processes to produce the fluorocarbon chemicals in the safest possible way for customers and environment.
Based on product type, fluorocarbon chemicals market is segmented as Hydrofluorocarbons (HFCs), Chlorofluorocarbons (CFCs), Hydrochlorofluorocarbons (HCFCs) and Hydrofluoroolefins (HFOs). CFCs and HCFCs are acknowledged as ozone-depleting substances (ODS). Additionally, HCFCs are acknowledged as potent greenhouse gases with global warming potential several times that of carbon dioxide. In addition, based on application, market is segmented as electronics, household, construction, chemical, aerospace, mechanical and others. High resistance to the organic solvents, based and acids offered by fluorocarbon chemicals is an important factor likely to drive the product demand in electronics, automotive, and construction applications during the forecast period.
Growth in adoption of clean air systems in commercial, residential, and industrial installations, followed by rise in demand for fuel-efficient vehicles, increase in usage in electrical & electronics applications, growth in application of refrigerants in HAVC in vehicles, establishment of stringent emission regulations and rise in demand from end-users like automobile, air conditioning & refrigeration are some major factors, which are responsible for growth of the fluorocarbon chemicals market. However, surge in adoption of stringent environmental regulations & greenhouse gas (GHG) emission may impact the market. Moreover, rise in advent of growth in production of semiconductors, aluminum, batteries, and other electronic components is a leading opportunity for market.
Based on regional analysis, the Asia-Pacific is a leading region in Global Fluorocarbon Chemicals Market owing to growth in urbanization coupled with increase in application of refrigerants in HVAC systems for automotive and infrastructure sector across the region. The North-America and Europe regions are anticipated to witness higher growth rate due to growth in manufacturing as well as sales of lightweight & electric vehicles over the forecast period. It is projected that future of the global fluorocarbon chemicals market will be bright as a result of increase in installation of HVAC systems in automobiles during the forecast period.
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Global Fluorocarbon Chemicals Market Growth Rate, 2021-2027
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