In a recent published report, Kenneth Research has updated the market report for Fluorochemical Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fluorochemical Market products.
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A report on Fluorochemical Market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021.
On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
The Global Fluorochemical Market was valued at USD 24,603.52 Million with Global production volume of 4,210 thousand tonnes during the year 2018. The reasons for the growth of Fluorochemical market is the thermal efficiency and chemical resistance property of Fluorochemical which have led to increase in the market size of Fluorochemicals. The increase in population coupled with the changes in the climate leads to enhancement in the demand for air conditioners and refrigerators. This will drive the global Fluorochemical market as fluorochemicals are used in cooling mechanism of refrigerators and air conditioners. The expansion of infrastructure has increased commercial and residential construction resulting in the increased demand for HVAC systems in warehouses, stores, malls, households, and others.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Fluorochemical Market is primarily driven by increasing demand for refrigerants, expansion of infrastructure, role of agriculture sector and role of pharmaceutical sector.
Among the regions, Asia Pacific region holds the largest market of Fluorochemical and is estimated that it will continue to dominate the market share in the forecast period.
Scope of the Report
Global Fluorochemical Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• By Product Type (Fluor Carbon, Inorganic and Specialities)
• By Application (Refrigerant, Aluminium Fluoride, Fluor polymer, Steel Pickling, Catalysts, Fluorine gas)
• By End User Industry (Electronics, Textile, Automobile, Health, Chemical)
Regional Fluorochemical Market – North America, Europe, Asia Pacific, Rest of World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• By Product Type (Fluor Carbon, Inorganic and Specialities)
• By Application (Refrigerant, Aluminium Fluoride, Fluor polymer, Steel Pickling, Catalysts, Fluorine gas)
• By End User Industry (Electronics, Textile, Automobile, Health, Chemical)
Country Analysis – United States, Canada, France, Germany, Italy, Spain, India, China, Japan, South Korea (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• By Product Type (Fluor Carbon, Inorganic and Specialities)
• By Application (Refrigerant, Aluminium Fluoride, Fluor polymer, Steel Pickling, Catalysts, Fluorine gas)
• By End User Industry (Electronics, Textile, Automobile, Health, Chemical)
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Other Report Highlights
• Competitive Landscape
• Leading Companies
• Market Dynamics – Drivers and Restraints.
• Market Trends
• SWOT Analysis.
• Company Analysis – Daikin, Mitsui Chemicals, Pelchem, Arkema, Mitsui Chemicals, SRF, Naveen Fluorine
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