(MENAFN- America News Hour) The market for Fluorotelomers is expected to grow at a CAGR of over 10% during the forecast period. Major factors driving the market studied are increasing demand for firefighting foams and rising demand from textiles market. On the flipside, growing concern regarding the toxicity of fluorotelomers alcohols in food packaging and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.
– Growing application of fluorotelomers in food packaging industry is expected to offer various lucrative opportunities for the growth of market.
– By application, textiles segment is expected to dominate the market owing to the increase in the usage in clothing and yarn for a means to replace harmful fluorocarbons.
– Asia-Pacific region dominated the fluorotelomers market across the globe with the largest consumption from countries such as China and India.
Key Market Trends
Increasing Demand from Textiles Segment
– Fluorotelomers are oligomers or telomers based on fluorocarbon. They are produced by a process known as telomerization. Fluorotelomers along with its compounds serve as a raw material for environmentally persistent perfluorinated carboxylic acids like perfluorooctanoic acids (PFOA) and perfluorononanoate (PFNA).
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– The growing usage of fluorotelomers in textile industry owing to their low cost related to cleaning, washing and dry cleaning is expected to propel the fluorotelomers market during the forecast period.
– Fluorotelomers provides superior properties like water repellent capabilities and resistance to oil & strain. Due to this, the usage of fluorotelomers has been increasing in textile and carpet industries, which is boosting the fluorotelomers market.
– The Global textile industry is expected to grow at a CAGR of over 4% during the forecast period and reach market value of USD 1,230 billion by 2024. This is anticipated to provide ample opportunities for the fluorotelomers market to grow in the near future.
– Owing to all the above-mentioned factors for fluorotelomers, its market is expected to grow rapidly over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for fluorotelomers during the forecast period. Owing to the high demand from various end-user industries such as textiles and food packaging industry in countries like China and India, the demand for fluorotelomers has been increasing in the region.
– The increasing usage of fluorotelomers in textile industry is stimulating the demand of fluorotelomers in the region as textile products like leather jackets, jeans, knit shirts, and carpets are treated with fluorotelomers.
– Additionally, fluorotelomers coatings are applied on food contact paper in packaging applications to prevent paper from absorbing oil from food products. Also, they are used in popcorn bags, pizza box liners, and fast food wrappers. Owing to these factors the demand of fluorotelomers is increasing in the region.
– Apart from food packaging and textiles, fluorotelomers are used in firefighting foams. With the growing number of fire hazards and implementation of strict construction rules and regulations in emerging economies, the demand for fire fighting foams is likely to increase at a brisk pace.
– The Asia-Pacific firefighting foams market is expected to grow at CAGR of 3% during the forecast period and is expected to reach USD 870 million by 2023. This is expected to boost the demand of fluorotelomers and thus, propel its market during the forecast period.
– Some of the major companies operating in Asia-Pacific region are – Clariant and AGC Chemicals.
– The aforementioned factors, coupled with government support, are contributing to the increasing demand for fluorotelomers during the forecast period.
The fluorotelomers market is consolidated with top players accounting for a major share of the market. Some of the key companies in the market include Clariant, Daikin America, Inc., Archroma, DYNAX, and AGC Chemicals.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand for Firefighting Foams
4.1.2 Rising Demand from Textiles Segment
4.2.1 Growing Concern Regarding the Toxicity of Fluorotelomers Alcohols in Food Packaging
4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Fluorotelomers Alcohols
5.1.2 Fluorotelomers Acrylate
5.1.3 Fluorotelomers Iodide
5.2.2 Food Packaging
5.2.3 Firefighting Foams
5.2.4 Stain Resistants
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AGC Chemicals
6.4.4 Daikin America, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application of Fluorotelomers in Food Packaging Industry
7.2 Other Opportunities
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