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Fluorochemicals Market Size
- Report ID: GMI153
- Published Date: Jun 2018
- Report Format: PDF
Fluorochemicals Market Size
Fluorochemicals Market size exceeded USD 35 billion in 2017 and industry expects consumption of above 4.5 million tons by 2024./p>
Rise in demand for refrigerators and cooling systems in industrial as well as domestic sector due to changes in lifestyle and growth in refrigeration need for convenience food products storage will drive fluorochemicals market demand. Global commercial refrigeration market may exceed to USD 65 billion by 2024. Growth in departmental stores, hypermarkets, supermarkets has led to rise in need for proper storage facilities of perishable food products which is likely to contribute toward market growth./p>
Application potential in pharmaceutical industry owing its non-flammable properties may act as key driving factory towards industry growth. It is prominently used as anesthesia in dental care Increase in R&D expenditure mainly in pharma industry to develop novel product range will propel industry growth. Global pharmaceutical R&D spending may surpass USD 185 billion by 2024./p>
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Fluorochemicals Market Size in 2017: | 35 Billion (USD) |
| Forecast Period: | 2018 to 2024 |
| Forecast Period 2018 to 2024 CAGR: | 10.3% |
| 2024 Value Projection: | 70 Billion (USD) |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 225 |
| Tables, Charts & Figures: | 275 |
| Segments covered: | Product, Application and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Growth in vehicle production which is attributed to rising consumer economic standards will favor product demand for aluminum production. Global aluminum market is poised to surpass USD 245 billion up to 2024. Fluorocarbon mainly hydrogen fluoride is used in aluminum production through electrolysis./p>
Fluorspar is the key raw material for commercial manufacturing. Technical innovations in extraction process may drive industry growth. However, stringent environmental policies by EPA has led to phasing out of these products mainly fluorocarbons to reduce environmental effect. This may incur compliance cost which is likely to negatively affect industry profitability and affect fluorochemicals market price trend.
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Fluorochemicals Market Scope
