The [FURL=https://www.industryarc.com/Report/18593/fluorochemicals-market.html?utm_source=BriefingWire.com&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Fluorochemicals Market[/FURL] size is projected to reach $25.1 billion by 2026, after growing at a CAGR of 5.2% over the forecast period 2021-2026. The Fluorochemicals is an organic compound that contains fluorine and is widely used in electronics, refrigerators, and the automotive industry. Fluorochemicals provide UV resistance and high durability in various applications such as air conditioners, and refrigeration with excellent properties like high tensile strength and electrical insulation. Fluorocarbons are used as fluoropolymers and refrigerants, which have very low solubility features and due to this, they are not miscible in organic solvents like acetone and ethanol. COVID-19 pandemic has a profound impact on the demand and supply of fluorochemicals. The outbreak of COVID-19 has had a considerable impact on the overall development of the global HVAC (heating ventilation and air condition) system. In addition, the infrastructure and construction activities had been totally shut down from the first quarter of 2020, due to which new buildings, offices could not be commissioned. The aforementioned factors have highly affected the demand of HVAC system, which restrained the growth of the market.Key Takeaways
Asia-Pacific dominates the fluorochemicals market owing to increasing demand from applications such as automotive, oil and gas, pharmaceutical and transportation industries.
The growing demand for the HVAC systems, such as ventilation, refrigerator, and air conditioning is likely to aid in the market growth of the fluorochemicals market.
Organic based chemicals such as HFC & HCFC and fluorocarbons are used for refrigerant production owing to its cost-effectiveness. It promotes a clean air system in the industrial sector.
Request for Sample of the Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=18593[/FURL]
Fluorochemicals Market Drivers
Growing Demand in Food Industry for Refrigerant
Changing lifestyle and increasing demand for convenience food products is driving the market of fluorochemicals.
Rising Application as Blowing Agent
Rising application as a blowing agent is spread in the consumer electronics industry.
Fluorochemicals Market top 10 companies are 3M Company, Solvay SA, Mitsui Chemicals Inc., DuPont, DAIKIN INDUSTRIES Ltd., ASAHI GLASS CO. LTD., Mexichem S.A.B. de C.V., Arkema Group, Air Products and Chemicals Inc., and among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.