Los Angeles, CA -- (SBWire) -- 01/08/2020 --The global chlorotrifluoroethylene market is predicted to largely benefit from important applications of the chlorofluorocarbon in the semiconductor, electronics, and automotive industries. Chlorotrifluoroethylene could also find application in the medical industry, especially in the manufacture of specialized laboratory tools and instruments. Its use in a range of applications could be attributed to its favorable properties such as near-zero moisture absorption and exceptional stability in high and low temperatures. Importantly, chlorotrifluoroethylene could be used in the synthesis of high-performance elastomers, plastics, and lubricants.

Companies operating in the global chlorotrifluoroethylene market are expected to sign merger and acquisition deals with other market participants or related businesses in future. Early in 2019, Daikin, a Japanese multinational air conditioning manufacturing company, announced the completion of its acquisition of AHT, an Austrian manufacturer of commercial refrigeration and freezing solutions.

Players to Take Specific Measures to Achieve Sustainability Goals

The report offers detailed company profiling of important players of the global chlorotrifluoroethylene market such as Honeywell, Hongjia Fluorine Technology, Jiangsu Bluestar, and Daikin. According to market experts, these companies are among the biggest producers of chlorotrifluoroethylene in the world and account for a significant aggregate share of the global chlorotrifluoroethylene market. Manufacturers are expected to set sustainable development goals to be achieved in the coming years. In September 2019, Daikin issued its Sustainability Report 2019. The report features the company's global activities to achieve its Environmental Vision 2050. It also sheds light on the company's specific measures and targets to achieve net zero greenhouse gas emissions by 2050.

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Market Segments

By Product Type

? Purity 99.9%

? Purity 99.5%

By Application

? Resin

? Refrigerant

? Others

The product type segment of purity 99.9% is expected to account for a considerable share of the global chlorotrifluoroethylene market in the coming years. According to analysts, its market is still in the starting phase. Despite of this, its reasonable price and consistent high quality level are expected to help the product to show impressive growth in the global chlorotrifluoroethylene market. Based on application, the global chlorotrifluoroethylene market is segmented into refrigerant, resin, and others. Among these, resin may secure a commanding share of the global chlorotrifluoroethylene market.

By Region

According to market experts, the US is anticipated to become a leading chlorotrifluoroethylene market in terms of production. Its share of the total global chlorotrifluoroethylene production could stay strong for the next few years. Asia Pacific could be a profit-making regional market for chlorotrifluoroethylene, taking into consideration the high demand in the semiconductors and electronics industries. Strong consumption of semiconductor materials such as integrated circuits in China and Japan is expected to support the growth of Asia Pacific in the global chlorotrifluoroethylene market. Rise of the building and construction and automotive industries in India could be another growth factor to consider for the Asia Pacific market.

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