Fluorotelomers Market Is Projected To Be Around $0.97 Billion By 2022
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A research study titled, “Fluorotelomers Market by product Type - Global Industry Analysis and Forecast to 2022” published by Crystal Market Research, states that the fluorotelomers market is projected to be around $0.97 billion by 2022.
The global fluorotelomers market was evaluated around USD 0.28 billion in the 2012 and is expected to reach approximately USD 0.97 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 11.73% over the forecast period. Fluorotelomer is telomer or oligomer based on fluorocarbon, containing a few monomer units. A few fluorotelomers and its compounds act as a staple to ecologically unrelenting perfluorinated carboxylic acids like perfluorooctanoic acid (PFOA) and perfluorononanoate (PFNA). PFOA and PFNA are mainly used in an extensive variety of applications over various industries owing to their environmentally-friendly nature and lack of ability to bioaccumulate in animals. Various kinds of fluorotelomers are utilized in the market like fluorotelomers alcohol, fluorotelomers acrylate, and fluorotelomers iodide. Fluorotelomers alcohols like TEOH-4 and TEOH-6 are few of the widely consumed goods in this industry. TEOH-4 and TEOH-6 have the skill to decompose to perfluorinated carboxylic acids which are exhibits in the atmosphere. Fluorotelomers are utilized in an extensive variety of applications like firefighting foams, food packaging, textiles, and stain resistant fabrics among others.
The global fluorotelomers market is likely to show major growth with a significant compound annual growth rate during the forecast period of 2012 to 2022. Textiles reports for the leading application segment owing to the rising requirements from end-user industries like clothing and textiles. Besides textiles, firefighting foams and food packaging are other major application section of the fluorotelomers industry and have bestowed considerably towards the market expansion. Firefighting foams are being gradually more used owing to stringent construction regulations in developing countries. The global fluorotelomers market has been experiencing a considerable growth due to rising requirement from its application as well as their end-users. Growing utilization of fluorotelomers for coating application in food packaging owing to increasing ready-to-eat food products demand has considerably bestowed for the market growth. Additionally, diverse strategies by giants like DuPont for evolving novel fluorotelomers products for firefighting foam and textiles industries have also contributed towards the market growth. Though, increasing awareness levels concerning the toxicity of particular fluorotelomers alcohols over food packaging applications are anticipated to hinder the market growth.
The key industry participants for the fluorotelomers market are; Daikin America, Fluoryx, Inc., Dynax Corporation, TCI, Wilshire Technologies, Sigma Alrich Corporation, and AGC Chemicals. According to the product type, the global market is split into; Fluorotelomer Acrylate, Fluorotelomer Alcohol, and Fluorotelomer Iodide. On the basis of application, the global market is divided into; Food Packaging, Fire Fighting Foams, Stain Resistants, Textiles and Other Applications. Geographically, the global fluorotelomers market is segmented into regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada) and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key findings of the fluorotelomers market
- In 2013, textiles were the leading application, reporting for around 34% of the overall fluorotelomer consumption. This section is also anticipated to experience top growth at a projected compound annual growth rate of 13.6% over forecast period owing to amplified demand from end-users.
- Firefighting foams and food packaging were key application segments, together generating revenue in excess of USD 130 million in 2013. Firefighting foams are increasingly being used owing to the strict construction norms in most emerging economies.
- In 2013, Asia Pacific regional market was the ruling market among others while reporting for around 46% of overall consumption. The existence of application market like textiles is anticipated to assist the region in preserving leading position during the next few years.
- Key players in the market are; Daikin America, Fluoryx, Inc., Dynax Corporation, TCI, Wilshire Technologies, Sigma Alrich Corporation, and AGC Chemicals.