Fluorochemicals Market Size, Share, Opportunities, And Trends By Product Type (Fluorocarbons (HFC, HCFC And Others), Inorganics, Fluoropolymers, Fluoroelastomers, Others), By End-Use (Electrical & Electronics, Chemicals, Automotive & Transportation, Pharmaceuticals, Aerospace, Others), By Application (Aluminum Production, Blowing Agents, Agrochemicals, Automobile, Refrigerants, Components, Others), And By Geography - Forecasts From 2025 To 2030

The fluorochemicals market is projected to grow at a CAGR of 3.06% over the forecast period, increasing from US$26.620 billion in 2025 to US$30.832 billion by 2030.

Fluorochemicals are derivatives of fluorine and are majorly used in industries as blowing agents, refrigerators, air-conditioners, fire extinguishers, and other electronic products. Due to their versatile properties, they have a large number of industrial applications.

Fluorochemicals are defined as any inorganic and organic compound that contains one or more fluorine atoms that repel oil and water, thus exhibiting resistance against aggressive physical and chemical conditions in industrial processing. The market is accelerated by factors such as global growth in aluminum demand due to the increasing use of this metal in motor vehicles, burgeoning demand for high-performance fluorochemicals, and adoption of these in advanced manufacturing of motor vehicles. 

The demand growth from HVAC systems is augmenting the demand for fluorochemicals over the forecast period. Developing nations play a major role in their growth due to the increasing penetration of fluorochemical-based consumer goods. Research and development in the area of rain-repelling fluorochemicals used in waterproof clothing is expected to provide an opportunity for the fluorochemicals vendors over the forecasted period.

Growing Demand for Refrigeration in the Food Industry

The fluorochemicals market is set to expand in the years ahead, backed by factors like the escalating demand from the commercial refrigeration and automobile industries. The commercial refrigeration sector has been zooming ahead at a significant pace, especially in emerging countries such as Brazil, China, India, and Africa.

This can be accredited to the increasing disposable income and the striking growth in industrialization. Food & beverage, pharmaceuticals, marine, and electronics are a few other key market end-users also responsible for the considerable growth. Changing lifestyles and increasing demand for convenience food products are driving the fluorochemicals demand.

The surging demand for refrigerators is necessary for the industrial areas as well as the domestic sector. The refrigerator gives proper storage facilities for food products, due to which the demand for refrigerators is increasing day by day. The refrigerator stores food products and daily needs for a long time. Several developing countries are showing

The cooling demand has been increasing at a significant pace in India. According to the India Cooling Coalition Organisation, it is estimated to reach around 1000 million TR (Tonnes of refrigeration) in 2037-38 from 216 million TR in 2022-23. The sectors contributing to the growth are refrigeration, space cooling in buildings, and transport air conditions.

In 2022-2023, India’s export of refrigerators, freezers, and other refrigerating appliances accounted for US$ 140.97 million. According to IBEF (India Brand Equity Foundation), The Indian Appliances and Consumer Electronics (ACE) market is estimated to nearly double in the next 3 years, reaching approximately US$ 17.93 billion by 2025. Thus, the rising demand for refrigerators from the food industry will contribute to the fluorochemicals market growth.

The hydrofluorocarbon segment is anticipated to hold substantial market share in the projected period.

HFC is projected to dominate the fluorocarbon market during the forecasted period. Unlike CFCs and HCFCs, HFCs do not contribute to ozone layer depletion, though it does impact climate change. Further, it is a perfect substitute for CFCs and HCFCs, with less severe impact. Hence, the declining use of CFCs and HCFCs has created a significant market for HFCs, which is anticipated to drive market growth during the forecasted period.

Further, the rising construction of cold storage worldwide to store perishable products, particularly food products, also drives the market growth of HCFCs. In India, for instance, the construction of cold storage is on the rise, with significant government support to ensure food security and safety. In December 2020, the government of India introduced the Cold Storage Subsidy 2021, which covers the creation of infrastructure facilities along the entire supply chain, including pre-cooling and cold storage.

According to NABARD’s assessment of All India’s Cold Chain Infrastructure Capacity (Assessment of Status and Gap), the country requires an extra 3.5 million MT of cold storage capacity as of 2023. Under the Integrated Cold Chain and Value Addition Infrastructure program, 376 cold chain projects have been approved, with 268 functioning.

Moreover, The National Horticulture Board’s Capital Investment Subsidy Scheme for Construction/Expansion/Modernization of Cold Storage and Storage for Horticulture Products provides a credit-linked back-ended subsidy at the rate of 35% of the capital cost of the project in general areas. The subsidy is provided at 50% in North East, hilly, and scheduled areas for construction/expansion/modernization of cold storage and Controlled Atmosphere (CA) storage of capacity above 5000 MT. In the Northeast area, units with capacities of more than 1000 MT are also eligible for support.

Adding to it, the Chemours Company, a worldwide chemical business with market-leading positions in Titanium Technologies, Thermal & Specialized solutions, and Advanced Performance Materials, announced its plan to increase production of Chemours HFC-152a by roughly 20% in November 2023. In addition to meeting client needs for low-GWP propellants and foam-blowing agents, the expansion will allow for fewer VOCs (volatile organic compounds) in consumer items and support the rising demand for thermal insulation foam products.

Nevertheless, the International Energy Agency published a zero-carbon Earth paper that included periodic steps to make Earth Carbon-free by 2050. These steps included adopting fluorocarbon-free products as a substitute for fluorocarbon products. increasing environmental awareness and rising adoption of green solutions are expected to hinder the market growth of HFCs during the forecasted period.

By end-use the pharmaceutical sector is expected to grow with faster CAGR in the coming years.

Fluorine has a wide range of pharmaceutical and medical applications. The combinations of fluoride are applied in antibiotics and anesthetics as well as in arthritis treatment. Most kinds of toothpaste also comprise fluoride to strengthen tooth enamel, thus preventing tooth decay. According to the Department of Mineral Resources, the Republic of South Africa, specialty fluorine-containing organics are used in new pharmaceuticals, including antiretrovirals (ARVs), modern anesthetics, and modern cosmetics.

Fluorocarbons are used extensively in inhalators. The fluorine-18 isotope is used in scanners for diagnosing diseases such as cancer. Moreover, existing and new producers are actively engaging in R&D to enhance existing applications of fluorspar and identify new uses.

The ability of fluorine to improve the existing properties of other chemicals makes it enormously useful in the pharmaceutical industry, leading to a rise in its use in the industry. By adding fluorine, the pharmacological properties of a drug can be improved in potency quite significantly, allowing for the use of lower doses to achieve the same effect as was previously gained. Aside from this highly desirable property, another important advantage of adding fluorine to pharmaceuticals is that the shape of the resulting fluorochemical is largely unchanged. This is particularly important because the bioactivity of many drugs is highly dependent on the shape of the chemical compound. According to Navin Fluorine International Ltd, the demand for fluorochemicals has been rising in the pharmaceutical industry.

China's pharmaceutical business has been expanding steadily, and at the end of 2023, it reached $161.8 billion, accounting for around 30% of the worldwide market, which positively impacts the utilization of fluorochemicals. In addition, the majority of market sales have been dominated by foreign MNC pharmaceutical businesses, including those from the U.S. and top Chinese pharmaceutical companies. 

Apart from this, Gujarat Fluorochemicals Limited (GFL) is an Indian chemical company with more than 30 years of experience in fluorine chemistry. GFL specializes in fluoropolymers, fluorospecialties, refrigerants, and chemicals, meeting the material needs of the modern world. The company uses its expertise in fluorine-based products through product innovation and client relationships in various end-use areas. GFL consistently challenges itself to discover solutions to some of the most demanding applications, which impact mobility, telecommunications, healthcare, and architecture.

The Asia Pacific region is anticipated to propel significantly in the projected period.

This market is expected to witness growth owing to the increasing investments in the construction and infrastructure industries as fluor technology products are witnessing the expansion in their application in the construction and building industries to include materials such as wire and cable with anti-corrosion, UV resistance properties, and architectural membranes and coatings.  industries. India is one of the major APAC economies with an increasing construction industry.

Rapid industrialization and economic growth in the country are facilitating the demand for fluorochemicals from various sectors. According to the Ministry of Statistics and Programme Implementation, India's industrial output surged by 22.4 percent in March 2021 compared to the previous year. Additionally, the increasing application of refrigerants in the HVAC system, infrastructure, and automotive is further expected to fuel the market demand for fluorochemicals in the region.  The availability of aluminum reserves in the country and the government's inclination to promote FDI in the domestic metal sector are further expected to lead to the growth of fluorochemical markets. Reserves of Bauxite, an aluminous rock, have accounted for 3,896 million tonnes as per the Indian Ministry of Mines. Moreover, an increase in the consumption of frozen and packaged food has been observed in the country. This is leading to a rise in the demand for commercial cooling systems, which is likely to further push the market growth of fluorochemicals.

The rising infrastructure development and the growing construction industry have inclined the demand for an HVAC system for residential and commercial construction like warehouses, malls, and departmental stalls, which is boosting the demand for fluorochemicals. According to Invest India, the construction industry of India is expected to reach $1.4 trillion by 2025.

Furthermore, by 2025, India is further expected to generate at least 70% of its GDP through construction, which works around 250 sub-sectors with linkages across different sectors. In terms of residential construction, it is expected that by 2030, approximately 600 million people will be living in urban areas, which will further create a demand for 25 million additional affordable units and additional mid-end. Moreover, under NIP, India accounts for a total investment budget of $1.4 trillion, which will be divided among different sectors. Out of this $1.5 trillion investment budget, 24% will be for renewable energy, 18% for roads and highways, 17% for urban infrastructure, and 12% for railways. Under the Technology Sub-Mission of PMAY(U), a new era of the Indian construction technology sector will start with over 54 global innovative construction technologies. All of these factors combined will drive the demand for fluorochemicals in the construction industry of India.

Fluorochemicals Market is segmented and analyzed as follows:

• By Product Type
  • Fluorocarbons
    • HFC
    • HCFC and Others
  • Inorganics
  • Fluoropolymers
  • Fluoroelastomers
  • Others
• By End-Use
  • Electrical & Electronics
  • Chemicals
  • Automotive & Transportation
  • Pharmaceuticals
  • Aerospace
  • Others
• By Application
  • Aluminum Production
  • Blowing Agents
  • Agrochemicals
  • Automobile
  • Refrigerants
  • Components
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others 
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others 
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others 
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key Benefits for the Stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

2.3. Data Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Supplier

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. FLUOROCHEMICALS MARKET BY PRODUCT TYPE 

5.1. Introduction

5.2. Fluorocarbons

5.2.1. HFC

5.2.2. HCFC and Others

5.3. Inorganics

5.4. Fluoropolymers

5.5. Fluoroelastomers

5.6. Others

6. FLUOROCHEMICALS MARKET BY END-USE

6.1. Introduction

6.2. Electrical & Electronics  

6.3. Chemicals  

6.4. Automotive & Transportation 

6.5. Pharmaceuticals  

6.6. Aerospace

6.7. Others

7. FLUOROCHEMICALS MARKET BY APPLICATION 

7.1. Introduction

7.2. Aluminum Production

7.3. Blowing Agents

7.4. Agrochemicals

7.5. Automobile

7.6. Refrigerants

7.7. Components

7.8. Others

8. FLUOROCHEMICALS MARKET BY GEOGRAPHY 

8.1. Introduction

8.2. North America

8.2.1. By Product Type

8.2.2. By End-use 

8.2.3. By Application

8.2.4. By Country

8.2.4.1. USA

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Product Type

8.3.2. By End-use 

8.3.3. By Application

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Product Type

8.4.2. By End-use 

8.4.3. By Application

8.4.4. By Country

8.4.4.1. United Kingdom 

8.4.4.2. Germany 

8.4.4.3. France

8.4.4.4. Spain

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Product Type

8.5.2. By End-use 

8.5.3. By Application

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Israel

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Product Type

8.6.2. By End-use 

8.6.3. By Application

8.6.4. By Country

8.6.4.1. Japan

8.6.4.2. China 

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Markey Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. 3M

10.2. Daikin Industries

10.3. Solvay

10.4. AGC Chemicals Americas

10.5. Arkema

10.6. Honeywell International Inc.

10.7. Pelchem SOC Ltd.

10.8. Halocarbon, LLC

10.9. The Chemours Company

10.10. GFL

3M

Daikin Industries

Solvay

AGC Chemicals Americas

Arkema

Honeywell International Inc.

Pelchem SOC Ltd.

Halocarbon, LLC

The Chemours Company

GFL