Published Date: 2018-09-24
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According to the Graphical Research new growth forecast report titled “Asia Pacific Fluorochemicals Market analysis based on Product, Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 27.5 billion by 2024.
Growth in automotive sector accompanied by increasing electronic production companies in the region can grow fluorochemicals market size. Increasing vehicle manufacturing is attributed to rising consumer economic standards will favor product demand for aluminum production. Fluorocarbon like hydrogen fluoride has application in aluminum production.
PTFE thermoplastic polymer has excellent electrical and thermal properties along with low friction coefficient. These properties have propelled its use in non-stick cookware and it can also be fabricated in to industrial products including pipe liners, parts of valves & pumps and bearing. Expanding automotive and electronic industry supported by technological innovations and rising economic standards will drive regional industry growth.
Growing fast food chains and quick serve restaurants (QSR) will increase demand for refrigerating systems in this region which may act as major contributing factor towards regional industry growth.
Fluor Technology products are extensively used in building & construction sector due to its properties including high durability, anti-corrosion and UV resistance to materials like coatings, architectural membranes, caulks, cable and wire is likely to drive fluorochemicals market size.
India fluoropolymer market size may reach up to 95.5 kilo tons by 2024 owing its non-flammable properties and usage as anesthesia in dental care. Increased R&D spending pharmaceutical sector to develop innovative product variety will boost industry growth in the projected period.
Japan fluorochemicals market size from blowing agent is anticipated to surpass USD 650 million owing to mounting product demand in packaging industry. These compounds impart strength and stability due to compound’s covalent bonds making them appropriate for use in solvents, lubricants and stain repellants.
Asia Pacific fluorochemicals industry share is vastly fragmented. Major companies operational in the market includes Gujarat Fluorochemicals, Asahi Glass, Dongyue Group, SRF, 3M, Daikin Industries and DowDuPont.
Manufacturers are involved in acquisition and developing innovative new products to augment their presence and increase their market share in this region.
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