Global Fluorochemicals Market is hit at a CAGR of 5.18% forecast to 2026

Definition:

Fluorochemicals are a type of chemical compounds that are produced with the help of fluorospar mineral. This chemical compound is used in the cooling systems of various refrigerants and other electronic devices and appliances. These chemicals find their usage in a number of other industries and end-users due to their characteristics such as resistance against solvents, and various other acids.

Analysis of Global Fluorochemicals Market report:

Global Fluorochemicals Market is expected to rise from its initial estimated value of USD 18.66 billion in 2018 to an estimated value of USD 27.96 billion by 2026, registering a CAGR of 5.18% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing applications of fluorochemicals in a variety of industries.

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Market Drivers:

• Rising demand of the applications of refrigerants in various cooling systems is expected to be a driver for the market growth
• Rising demand from the automobile and pharmaceutical industry for its demand is also expected to act as a driver for the market growth

Market Restraints:

• Strict regulations provided by the various governments and authorities related to the usage of fluorochemicals and its effects on environment is expected to act as a restraint to the market growth
• Lack of or unavailability of fluorospar mineral which is a source of production of fluorochemicals is also expected to restrain the market growth.

Leading Key players profiled in this report are:

Few of the major competitors currently working in the fluorochemicals market are DuPont, DAIKIN INDUSTRIES Ltd., Solvay, AGC Inc., Arkema, The Chemours Company, Honeywell International Inc., Dongyue Group, Pelchem SOC Ltd, Mitsui Chemicals Inc., Air Products and Chemicals Inc., Central Glass Co. Ltd., 3M, Halocarbon Products Corporation, and Mexichem S.A.B. de C.V.

Global Fluorochemicals Market Segmentation:

By Product

• Fluoropolymers
• Specialty
• Fluorocarbons
• Hydrofluorocarbon (HFC)
• Hydrochlorofluorocarbon (HCFC)
• Hydrofluoroolefin (HFO)
• Inorganics
• Others

By End-Uses

• Aluminum Production
• Home & Industrial Appliances
• Refrigeration
• Pharmaceuticals
• Electrical & Electronics
• Others

By Geography

• North America
• South America
• Europe
• Asia-Pacific

Company Share Analysis:

Global fluorochemicals market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of fluorochemicals market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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The Global Fluorochemicals Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Fluorochemicals Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.

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