Lewes, DE -- (SBWire) -- 08/17/2015 --The factors that are contributing to growth of the market are increase in technological innovation and increase in automobile production, the global fluorochemicals market is expected to grow at a compound annual growth rate (CAGR) of 5.6% and reach US$27.6 billion by 2022 from $17.9 billion in 2014.
The key driver of the market is there are fewer competitors in fluorochemicals market in developing nations. However factors such as growth in aluminium industry gave opportunity for the market to grow.
Fluorochemicals Market is segmented by product, by application and by geography. Depending on the various products, the market is categorized into Fluoropolymers, Fluorocarbons, Fluorosurfactants,Fluororepellants and Inorganic fluorides. Based on application, the market is classified into Air-conditioning, Aluminum Production, Blowing Agents, Firefighting and Refrigeration. Based on geography, market is segmented into North America, Europe, Asia-Pacific and Rest of the World. China is the largest and one of the fastest growing markets for fluorochemicals. Significant mergers & acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
The key players in the Fluorochemicals Market include 3M Advanced Materials, Arkema SA, Asahi Glass Company Ltd., DuPont de Nemours & Co., Dongyue Group Ltd., Halocarbon Products Corp., Honeywell International Inc., Mitsui Chemicals Inc., Pelchem SOC Ltd. and Solvay SA.
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