Performance Fluorine Chemicals & Polymers Market size is poised to growing at over 4.1% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the various useful properties of fluorine chemicals and preservatives, including, high resistance to heat, lowest dielectric constant and extremely high friction coefficient. Moreover, increasing application of these polymers and chemicals in various end-user industries, such as, medical, transportation, and others, is estimated to boost the market growth. These polymers are used in making cables, wire insulations, and insulators in vehicles to reduce emissions, among other applications. Rising use of fluorine chemicals and polymers in making wire insulations for smart phones, computers, and other electric appliances, is anticipated to further boost the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.1% |
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The global performance fluorine chemicals & polymers market is segmented by application into medical, industrial, transportation, electronics, and others, out of which, the electronics segment is anticipated to hold the largest share in the market during the forecast period on account of increasing manufacturing and sales of smartphones, laptops, and other electronic devices which use fluorine chemicals and polymers. More than 1.4 billion smartphones were sold in 2020, which is estimated to cross 1.5 billion smartphones by the end of 2021. This is expected to positively influence the segment growth.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Form
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By Application
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North America Market Statistics
Regionally, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to dominate majority revenue share by 2036, on the back of increasing manufacturing of hybrid vehicles in the U.S. Moreover, increasing demand for consumer electronics is estimated to boost the market growth in the region.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to the growing consumer electronic manufacturing industry. Japan is the largest producer of smartphones, as the smartphone industry has crossed 100 million units in the country. Additionally, growing chemical industry in the region, backed by easy availability of raw materials is expected to boost the market growth.
· May 10, 2021: Solvay announced the agreement with NextEra Energy Marketing, LLC to purchase EarthEra Renewable Energy Certificates (RECs).
Author Credits: Rajrani Baghel
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