Global Fluorotelomers market size is predicted to surpass USD 770 million by 2024 owing to its applications in food packaging, textiles, stain resistant, and firefighting foams. Growing safety concerns over fire risks in oil & gas, textile, and chemical industries coupled with regulatory compliances by EU (European Union) and EPA (Environmental Protection Agency) to prevent the use of perfluorooctyl sulfonate derived products are some of the factors predicted to boost the industry growth over the next eight years. Growing demand for fluorotelomers in niche applications such as photography, magazine paper, semiconductor, and metal plating due to its eco-friendly features are predicted to benefit the market over the next few years.
Fluorotelomers market is anticipated to surpass USD 770 million by 2024
Fluorotelomers industry size estimated at 26 kilotons in 2015, is predicted to exceed 75.80 kilotons, growing at a CAGR of around 12.5% over the period of 2018-2024. Its heavy demand in firefighting foam applications due to the beneficial features such as chemical & thermal stability, re-ignition resistance, and smoke pollution reduction is predicted to drive the growth of the market over the forecast period. Growing fluorotelomers market trends in the textile industry can be attributed to the ability of fluorotelomers to protect the textile products such as surgical drapes & gowns of patients as well as the healthcare staff from fluid based pathogens.
Rising demand and new developments in niche applications like surfactants & repellants, electronics, optics, pharmacology, and liquid crystal additives are predicted to create potential growth prospects for fluorotelomers market over the next eight years.
However, production of key raw materials like tetrafluoroethylene, hexafluoropropene, vinylidene fluoride, and chlorotrifluoroethylene may be restricted due to its hazardous effect. This can lead to their scarce supply affecting the market growth over the next few years.
Fluorotelomers market is segmented in terms of products, applications, and regions.
Fluorotelomers Iodide Market is projected to register a CAGR of around 13% over 2018-2024
Fluorotelomers alcohols market worth over USD 130 million in 2017, is predicted to witness a surge due to its use as a chemical intermediate to produce paper packaging, home furnishings, stone, paper packaging, and surfactants.
Fluorotelomers Iodide Market is anticipated to witness a significant growth over the forecast timeframe owing to its beneficial properties such as improving surface lubricity, chemical stability, and low surface energy. In addition to this, expanding construction & electronics sector is predicted to boost the product demand.
Food Packaging applications segment is projected to grow at a rate of around 11% over 2018-2024
Textile applications segment worth over USD 130 million in 2017, is predicted to witness a substantial demand over the forecast timeframe due to growing use of fluorotelomers in the textile treatment to provide improved resistance to stains caused by dust, solvents, and chemicals.
Food Packaging applications segment is anticipated to witness substantial growth over the forecast timeline owing to the growing use of fluorotelomers in packaging fast food wrappers, candy wrappers, microwave popcorn bags, and pizza box liners due to its grease resistance characteristic.
Asia Pacific fluorotelomers market is predicted to dominate the regional demand over 2018-2024
Market Size in Europe is predicted to grow at a rate of around 12% over the period of 2018-2024. France, Italy, and Germany are predicted to contribute significantly towards the regional growth.
Market share in Latin America is predicted to surpass USD 85 million by 2024, growing at a CAGR of around 8.5% over the period of 2018-2024. Brazil is predicted to contribute substantially towards the growth of the region owing to the growing investments in the construction sector.
Market value in MEA is forecast to surpass USD 55 million by 2024, registering a CAGR of around 8% over the period of 2018-2024. Countries like Egypt, UAE, and Saudi Arabia are predicted to drive the regional demand owing to the growth of the petrochemical industry in these regions.
Key industry players include Daikin America, Fluoryx Incorporation, TCI, Wilshire Software Technologies, Dynax America Corporation, Sigma-Aldrich, and AGC Chemicals.
Segments Covered in this Report:
Market Share Product Analysis (Volume: Tons, Revenue: USD Million, 2012 - 2023)
Market Size Application Analysis (Volume: Tons, Revenue: USD Million, 2012 - 2023)
Market Value Regional Analysis (Volume: Tons, Revenue: USD Million, 2012 - 2023)