The report of Fluorochemicals Market by Product (Fluoropolymers, Specialty, Fluorocarbons, Hydrofluorocarbon (HFC), Hydrochlorofluorocarbon (HCFC), Hydrofluoroolefin (HFO), Inorganics, Others), End-Uses (Aluminum Production, Home & Industrial Appliances, Refrigeration, Pharmaceuticals, Electrical & Electronics, Others), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ 28.1 Bn by 2027, at a CAGR of XX% during a forecast period.
The growing application of fluorochemicals, particularly in the production of pesticides and herbicides, is driving growth of the fluorochemicals market globally. Fluorochemicals are also used for purification of soil earlier specific crops are sowed. Such uses are driving demand for fluorochemicals in the agricultural industry. The rising production of automobiles, coupled with the incredible growth of the worldwide automotive sector is also expected to drive the growth of the global market for fluorochemicals during the forecast period.
However, growing demand for inorganic fluorochemical applications in the automotive industry is projected to overcome challenges of regulations and offer revenue opportunities for the major players of the global fluorochemicals market.
Fluorocarbons segment is expected to grow at the largest CAGR of XX% during the forecast period.
Fluorocarbons accounted for a major XX% revenue share in 2019. The stability and strength of these covalent bonds give fluorocarbons their unique properties to function such as lubricants, solvents, refrigerants, stain-repellent products, and propellants. The segment is expected to grow at a fast rate during the forecast period because of the increase in its high demand for use through applications like solvents, packaging, blowing agents, refrigerants, and aerosol propellants.
APAC is expected to witness the fastest growth during the forecast period.
The APAC held the largest market share of XX% in 2019. The regional market was valued at US$ XX.XX Mn in 2019 and is expected to grow at a CAGR of XX% to reach US$ XX million during the forecast period. India and China were the major growth-centric economies of the region in 2019. Fast industrialization & urbanization and the rising automotive industry is contributing to the growth of the product market.
Key players operating in the Global Fluorochemicals Market are DuPont, 3M, Daikin, Solvay SA., Asahi Glass, Arkema, Honeywell, Dongyue, Pelchem, Air Products & Chemicals Inc., Mitsui Chemicals Inc., Halocarbon Products Corp, and Mexichem Fluor S.A. de C.V.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Fluorochemicals Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Fluorochemicals Market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Fluorochemicals Market positioning of competitors.
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