(MENAFN- PR Newswire) Fluorotelomers Market Is Witnessing Growth Due to the Increasing Use of Fluorotelomers in the Textile and Clothing Industries
PUNE, India, April 14, 2023 /PRNewswire/ --
Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fluorotelomers Market.
The global fluorotelomers market size is projected to reach USD 1318.77 million by 2029 from USD 554.25 million in 2022, at a CAGR of 11% from 2023-2029.
Fluorotelomers are oligomers that are made up of fluorocrabons and some monomers with a process known as telomerization. The market for these flurotelomers is growing at a fast pace due to its increased demand and applications in a very diverse market place ranging from foams to packaging industry. The flurotelomers and their compounds also find their uses in making environmentally persistent carboxylic acids known as perfluorononanoate (PFNA) and perfluorooctanoic acid (PFOA). These PFNA and PFOA are used in wide range of applications owing to their eco-friendly nature and inability to bio-accumulate in animals. The market for flurotelomers is still in its nascent stage but is expected to grow rapidly in coming years due to its growing ability to replace other fluorocarbons.
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Notable Developments
Daikin has been a world leader in the development, manufacture and sales of fluoropolymers and chemistry since 1924. Headquartered in Osaka, Japan, Daikin is renowned for innovation, quality and commitment. As the world changes, Daikin is meeting the challenges with technology that makes a difference. Tokyo-based producer of fluorotelomers chemicals, glass, and high-tech materials, Asahi Glass Co Inc. agreed with German pharmaceutical company, C.H. Boehringer Sohn AG & Ko. KG, and acquired Malgrat Pharma Chemicals. With this acquisition, Asahi Glass expanded its product offering and widen its geographical presence.
Asia Pacific region leads the market with 53% of the global market share.
The APAC area is one of the world's largest manufacturers of fluorotelomers, with China and India serving as major users and suppliers. firefighting foams , food packaging, stain resistance, personal protective equipment (PPE), semiconductors, leather, paints, waxes, polishes, adhesives, photography, metal plating, and other applications use fluorotelomers. Furthermore, the expansion of the fluorotelomers market has been boosted by the rising growth of many end-use sectors such as electrical and electronics, food and beverage, oil and gas, and others.
Key Trends
Growing Demand from the Packaging Industry to Shoot Up Demand in the Market
Development of niche applications and technological innovation, which comprises photography, semiconductors, magazine paper, and metal plating are estimated to offer plethora of opportunities for the global fluorotelomers market in the years to come. In addition, fluorotelomers coatings find abundant use in packaging industry. It is utilized in the on fast food wrappers, pizza box liners, popcorn bags, and fast-food wrappers, thanks to its ability to fight off fatty food items and oil absorption.
Escalating Fluorotelomer Demand in the Food and Beverage Industries
Fluorotelomers are used in food and beverage packing uses. Food contact paper is coated with fluorotelomers in packing uses to stop the paper from absorbing oil from food items. To satisfy the needs of packaged products for convenience, comfort, safety, and freshness, various packaging methods have been created.
The use of fluorotelomers to substitute dangerous fluorocarbons has been supported by the rise in demand for microwave bags, confectionery, and box packing. Additionally, as the food and beverage business expand, there will be a greater need for packaging uses and fluorotelomers.
Rising Demand for Fluorotelomers in the Pharmaceutical and Healthcare Sectors to Accelerate Market Growth
Following the epidemic, funds are being invested to update the healthcare systems in emerging nations. Globally, the demand for fluorotelomers in the manufacture of PPE packages, shields, and other equipment is anticipated to increase due to increasing government expenditures in the healthcare industry.
The Indian healthcare industry, which was estimated to be worth US$ 190 billion in 2022, is expected to grow to US$ 372 billion by 2022, according to Invest India. The healthcare sector in China is anticipated to reach a value of 16 trillion RMB (US$ 2.3 million) by 2029, according to the staff research report on the "US-China Economic and Security Review Commission." Therefore, it is anticipated that increasing expenditures in healthcare facilities will propel the fluorotelomers market over the forecast period.
Fluorotelomers Market Report
Scope
| Report Attribute | Details |
| Market size value in 2022 | USD 554.25 million in 2022 |
| Revenue forecast in 2029 | USD 1318.77 million by 2029 |
| Growth rate | CAGR of 11% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Key Market Drivers
| ·
Fluorotelomers have outstanding qualities such as water repellency and grease and strain resistance. As a result, the use of fluorotelomers in the textile and carpet sectors has increased, supporting the fluorotelomers market. |
Fluorotelomers market share is characterized by technology innovation and is highly regularized. Major industry players include
Daikin America Fluoryx Dynax TCI Wilshire Technolgies Sigma Alrich AGC Chemicals Asahi Glass Co Inc
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Key Market Segments: Fluorotelomers Market
Fluorotelomers Market by Product, 2020-2029, (USD Million) (Kilotons)
Fluorotelomer Iodide Fluorotelomer Acrylate Fluorotelomer Alcohols
Fluorotelomers Market by Application, 2020-2029, (USD Million) (Kilotons)
Textiles Stain Resistant Food Packaging Firefighting Foams
Key insights from the report include:
Global fluorotelomers market size will see 11% CAGR, as per industry expectations, with 68.9 kilo tons by 2029. Europe, dominated by UK, France and Germany fluorotelomers market share, may register close to 8.7 kilo tons by 2029 with expectation of below industry average growth throughout the forecast timeframe. North America food packaging application, led by the U.S. consumer base, may grow at 7.5% CAGR and register close to USD 17 Million by 2029. Europe fluorotelomers iodide products may witness highest gains at 9.1% CAGR and register over USD 19.5 Million by 2029. Asia Pacific fires fighting foam applications can expected gains at over 12% CAGR and may register over 10 kilo tons by 2029. Latin America, led by Brazil, may expect significant gains throughout the forecast timeframe. Latin America textile applications may gain 8.5% CAGR and over USD 26 Million by 2029. MEA, led by petrochemical industry growth in Qatar, Saudi Arabia and UAE, is predicted to gain over 8.2% CAGR and register over USD 50 Million by 2029. Global fluorotelomers market share is highly regularized and driven by technology innovation. Notable industry players include Fluoryx, Daikin America, TCI, Dynax, AGC Chemicals and Wilshire Technologies. Industry participants are characterized by integration across numerous stages of the value chain. Some of the companies are integrated and captively consume raw material for product manufacturing.
The U.S. Market is Estimated at 10.6 thousand Tons, While China is Forecast to Grow at 14.8% CAGR
The Fluorotelomers market in the U.S. is estimated at 10.6 thousand Tons in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of 18.1 thousand Tons by the year 2029 trailing a CAGR of 15% over the analysis period 2023 to 2029. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 9.7% respectively over the 2023-2029 period. Within Europe, Germany is forecast to grow at approximately 8.8% CAGR.
Fluorotelomer Alcohols Segment to Record 11.4% CAGR
In the global Fluorotelomer Alcohols segment, USA, Canada, Japan, China and Europe will drive the 10.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 10 thousand Tons in the year 2022 will reach a projected size of 20.4 thousand Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 12 thousand Tons by the year 2029, while Latin America will expand at a 12.9% CAGR through the analysis period. We bring years of research experience to this 6th edition of our report. The 293-page report presents concise insights into how the pandemic has impacted production and the buy side for 2022 and 2029. A short-term phased recovery by key geography is also addressed.
Key Question Answered
What are the growth opportunities related to the adoption of fluorotelomers across major regions in the future? What are the new trends and advancements in the fluorotelomers market? Which product categories are expected to have highest growth rate in the fluorotelomers market? Which are the key factors driving the fluorotelomers market? What will the market growth rate, growth momentum or acceleration the market carries during the forecast period?
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