France fluorochemicals Market may exceed USD 2.5 billion by 2024
Date: 2020-08-12   Author: Rahul Varpe  Category: #market

France fluorochemicals Market may exceed USD 2.5 billion by 2024

Fluorochemicals Market from components application is anticipated to surpass USD 25 billion by 2024. Fluorine polymers are used in a blend with the other polymers impart high surface energy, thus providing water repellency and additional lubricity to the parts and components made from the blends. Additionally, these compounds have applications in the electronics industry for semiconductors, screen display, and monitors manufacturing, thus stimulating product demand.

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France fluorochemicals Market may exceed USD 2.5 billion at the end of the forecast timeframe. The presence of key industry players formulating innovative product range with energy efficiency and environmental benefits along with compliance with stringent government policies phasing out fluorocarbons will positively favor regional industry growth.

The European region is extensively under scrutiny when it comes to the fluorochemicals market. Merely a few days before, the EPA listed fluorochemicals under hazardous substances taking into account the impact of its toxicity on environmental status. In consequence, major companies are looking forward to bringing forth a spate of alternative refrigerants that may not harm the environment. Despite the strict regulatory scenario, however, Europe will register an annual growth rate of more than 3% over 2018-2024, owing to the surging use of fluorochemicals in medical implants and automotive applications.

China refrigerant application Market may register gains over 6% by 2024. High investments in residential and public infrastructural projects have led to rising installations of AC's and internal cooling systems which is likely to surge fluorochemicals market growth. Moreover, China is the largest producer of fluorspar which is a key raw material for fluorocarbons commercial production which may have a positive impact on regional industry growth.

The competitive analysis comprising numerous market players is a rather noteworthy feature of the fluorochemicals market report, as it provides details about the direct and indirect competitors in the market. The report also provides the company profile of these market players inclusive of certain specifications, technologies, and future development plans. Global fluorochemicals market share is consolidated with the presence of major players including Daikin Industries, Arkema, Mexichem, Dupont, Pelchem, Asahi Glass, Solvay S.A., 3M Company, Honeywell Inc, Dongyue Group and Halocarbon Product Corp.

One of the essential factors encouraging giants in the fluorochemical market to carry out in-depth research and development activities is the deployment of stringent regulatory norms to phase out CFC owing to its hazardous impact on the environment. Not just Chemours, but numerous other refrigerant manufacturers are moving ahead in this regard, developing affordable, safe, and efficient products. The evolving approach of refrigerant manufacturers toward manufacturing effective products that are eco-friendly is thus likely to boost fluorochemicals market share over the years ahead.

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The global fraternity is anticipated to record lucrative proceeds in emerging economies in the ensuing years, backed by the massive expansion of the automotive and construction sectors. In fact, APAC, driven by India and China is projected to exceed a demand of 2.5 million tons by 2024. India alone is expected to surpass a revenue of USD 3 billion by 2024, with proliferating automotive and aluminum production bagging the growth credits.  All in all, with a rich product and application spectrum, the worldwide fluorochemicals market size is expected to register phenomenal growth in the coming years, surpassing a revenue of USD 70 billion by 2024.

Global fluorochemicals market is one of the most opportunistic yet debatable business spheres of recent times. The trend is driven by the product being a subject of questions by regulatory authorities on grounds of its environmental viability.  The United States EPA is taking significant measures to limit four PFASs (poly and perfluorinated alkyl compounds) that are responsible for contaminating drinking water in at least twenty states across the nation. The move marks a remarkable influence of the regulatory framework in swaying the fluorochemicals industry trends.

Main Features of the Global Market Research Report:

The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2025.

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-The research report endorses a detailed industry chain analysis. Also, it covers the production process of the market, upstream raw material supplier information, raw material costs, labor costs, manufacturing costs, marketing channels, as well as the downstream buyers of the market.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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