Polychlorotrifluoroethylene Market: Global Industry Analysis With Opportunities and Trends
The Polychlorotrifluoroethylene market was valued at US$ 520.4 Mn in 2018 and expected to reach US$ 719.4 Mn by 2027 at a CAGR of 4.2% throughout the forecast period from 2019 to 2027.
Market Insights
"Increasing demand from aerospace industry will spur revenue growth during the forecast period"
Polychlorotrifluoroethylene has wide variety of application in various industries owing to its properties including maintaining its properties in a range of external changes and conditions. The increasing demand for polychlorotrifluoroethylene in applications such as chemical processing, consumer electronics, aerospace, electronics, and building & construction among others is proliferating the growth of the global polychlorotrifluoroethylene market. Recent developments in the semiconductor industry is also bolstering the market growth. Polychlorotrifluoroethylene possesses properties such as electrical resistance and water repulsion which is one of the key reasons its being increasingly used in electrical and electronics industry. In contrast, the availability of low-cost substitutes including ethylene tetrafluoroethylene, chlorotrifluoroethylene, polytetrafluoroethylene and among others are likely to hamper the market growth.
Industrial Developments
- In August 2017, Daikin Industries Ltd.’s fully owned subsidiary Daikin Chemical Southeast Asia Co. Ltd. has been established to expand its geographical presence in the region. Through this expansion the company aims to expand its fluorochemical business across the Asia Pacific region which presents lucrative opportunities.
- Honeywell recently introduced Aclar Accel, a new, cost-effective thermoformable barrier film for pharmaceutical packaging that provides faster service to companies at a lower cost while maintaining patient safety through increased protection for medicines
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Key Market Movements
- Globally, the polychlorotrifluoroethylene market is expanding at a CAGR of 4.2% in terms of revenue for the period of 2019 to 2027. In 2018, the market accounted for US$ 520.4 Mn and is expected to reach US$ 719.4 Mn by 2027.
- Based on end-use, the market is classified into Pharmaceutical, Electrical & Electronics, Aerospace, and Others. Aerospace segment dominated the global polychlorotrifluoroethylene market contributing more than 35% of revenue share. This can be attributed to high demand of the product in manufacturing of aerospace plugs, diaphragms and valves among others.
- Asia Pacific region led the global polychlorotrifluoroethylene market on the back of rapidly developing aerospace, electronics and pharmaceutical industries in the region with large amount of spending in research and development activities.
List of Companies Covered:
- Daikin
- Honeywell
- DuPont
- Arkema
- Solvay
- Akzonobel
- 3M.
- SABIC
- Fluorocarbon Company Ltd
- Lima Srl
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