ShareGlobal fluorochemicals market expected to reach USD 25 billion by 2020
HCFC refrigerants still account for over 60% of the total fluorocarbon market worldwide, according to a new report.
According a recent report by Grand View Research, Inc., HCFC refrigerants still account for over 60% of the total fluorocarbon market worldwide although they are being phased out by HFC and other products owing to regulatory pressure.
Being the largest global market for automotive, electronic consumables and chemical processing, Asia Pacific dominated fluorochemical demand in 2013, accounting for over 46% of global volumes.
Asia Pacific fluorochemicals market revenue is expected to reach USD 11.68 billion by 2020. North America and Europe, relatively mature markets, are estimated to grow at a Compound annual growth rate (CAGR) of 2.8% and 3% from 2014 to 2020, respectively.
On a global scale, fluorocarbons dominated the 2013 market, accounting for over 52% of fluorochemical volumes while the fluorochemicals market is expected to reach USD 25 billion by 2020.
In a moderately consolidated global market with few sellers, key participants include DuPont, Daikin, Solvay SA, Arkema SA, Honeywell, Dongyue and Asahi Glass.
The report states fluctuating supplies of fluorspar, a major mineral component in refrigerant production, continue to impact prices. This in turn creates a challenge for market participants who find it difficult to curtail costs and maintain profitability.
Being the largest global market for automotive, electronic consumables and chemical processing, Asia Pacific dominated fluorochemical demand in 2013, accounting for over 46% of global volumes.
Asia Pacific fluorochemicals market revenue is expected to reach USD 11.68 billion by 2020. North America and Europe, relatively mature markets, are estimated to grow at a Compound annual growth rate (CAGR) of 2.8% and 3% from 2014 to 2020, respectively.
On a global scale, fluorocarbons dominated the 2013 market, accounting for over 52% of fluorochemical volumes while the fluorochemicals market is expected to reach USD 25 billion by 2020.
In a moderately consolidated global market with few sellers, key participants include DuPont, Daikin, Solvay SA, Arkema SA, Honeywell, Dongyue and Asahi Glass.
The report states fluctuating supplies of fluorspar, a major mineral component in refrigerant production, continue to impact prices. This in turn creates a challenge for market participants who find it difficult to curtail costs and maintain profitability.