Fluorinated Solvents Market Outlook
According to a research analysis conducted by ChemView Consulting, the global fluorinated solvents market has been anticipated to generate a revenue of US$ 1,092.7 Mn in 2022 and is projected to grow with a growth rate of 7.9% during the period of 2022 and 2030.
The market is expanding owing to the growing demand from various application segments such as, growing demand for cleaning chemicals, electronic industries, chemical industries and many others. Moreover, increase in the demand for less hazardous solvents and cleaning chemicals across the globe is also boosting the consumption rate. Increase in government regulations regarding VOCs, hazardous solvents are also bolstering the demand for fluorosolvents as this solvent is considered as a green chemical.
Considering all these factors, ChemView Consulting has forecasted that the global market to reach a value of US$ 2,007.6 Mn by the end of 2030.
Key Market Insights
Growth Driver: Fluorinated solvents are known for having properties with significance, including being a non-explosive cleaning solvent with high solvency strength, quick evaporation, and lower surface tension. Fluorinated solvents also have a low boiling point, low surface tension, don’t require acid acceptance tests, and don’t require stabilizer additions.
Fluorinated solvents also leave a small amount of non-volatile residue. These types of solvents also have a high level of compatibility with a wide range of substrate materials and can be utilized in existing cleaning equipment. Fluorinated solvents are high-quality solvents in terms of performance as well as excellent drop-in replacements for compounds that have been determined to deplete the ozone layer, such as CFCs, HFCs, and PFCs.
End-use businesses that have been focusing on protecting the health and safety of their personnel without hurting performance or profitability are increasingly seeing fluorinated solvents as a highly favored solution.
Market Opportunity: Fluorinated solvents provide a variety of benefits over alternatives, including a reduced Ozone Depletion Potential (ODP), less government control, low toxicity, cheap cost (compared to other fluorinated solvent choices), and high sustainability. Chemically and thermally stable, these non-flammable fluorinated cleaning solutions do not necessitate the use of explosion-proof equipment.
Furthermore, because of their low latent heat of vaporisation, they are energy efficient and may be regenerated by distillation. They are suitable for a wide range of applications because to their compatibility with metals, plastics, elastomers, and fragile substrates.
Market Trend: Key players are significantly focusing on launching of series of fluorosolvents to cater the growing demand from the end use industry and to adhere to stringent regulations. When compared to chlorinated, brominated, light petroleum distillates, glycol & glycol ether, and designed hydrocarbon solvents, the price of fluorinated solvents is quite high.
Blends of fluorinated solvents are commonly used in the Western European fluorinated solvents industry and their use is now increasing in Eastern Europe, which can be ascribed to their lower cost when compared to pure HFE, HFO/HCFO, and HFC.
Fluorinated blends are available from several vendors. For instance, Envirotech offers the ‘ProSolv’ fluorinated mix, which contains fluorinated solvents and the addition trans 1,2-dichloroethylene. Alternatives to chlorinated and brominated vapour degreasing solvents are provided by the company’s NEXT 3000 and EnSolv NEXT solvents.
These new formulations replace compounds like HCFC-225 (AK-225) and TCE with n-propyl bromide (nPB), which has reduced ozone depletion potential, a higher KB value, and is less hazardous.
Market Segments Analysis
To remain competitive in the global business, key market participants are investing significantly in research and development for product development, technology development and in innovation. Key players are further investing to expand their market footprint by mergers and acquisitions, as well as by expansions strategies. List of some of the key players present in the global fluorinated solvents market are:
Key Developments in Fluorinated solvents Industry
|AGC Chemicals Americas on 24 Aug 2022 introduces AMOLEA™ AS-300 and AS-300AT fluorinated cleaning solvents, these are nonflammable precision cleaning solvents.||In 2020, AGC Chemicals introduces AMOLEA™ AT2 and AsahiKlin™ AE-3000 fluorinated solvents to help manufacturers to meet environmental regulations for precision cleaning.|
Segments Covered in Report
By Product Type:
By Sales Channel:
By Region and Country:
Global Fluorinated solvents Market 2022-2030: Report Coverage and Highlights
|Historical Data Available for||2017-2021|
|Market Analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key Regions Covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key Countries Covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key Segments Covered||Product Type, Application, Sales Channel and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and consulting company serving chemicals & materials, oil & gas, and alternate energy clients worldwide. ChemView Consulting serves clients in approximately 100 countries, with its office in the US and delivery centers in India.
What sets ChemView Consulting apart?
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
The current sales of global fluorinated solvents have been estimated to be pegged at around USD 1,012.7 Mn.
The sales of fluorinated solvents expected to grow with a CAGR of 7.9% in terms of value over the coming assessment period of 2022 and 2030.
The global demand for fluorosolvents has been forecasted to reach a value of USD 2,007.6 Mn by the end of the projected period.
Some of the key manufacturers in the global business of fluorinated solvents are 3M, AGC Chemicals, Honeywell International Inc. (USA), Arkema S.A. (France), Solvay S.A. (Belgium), The Chemours Company (USA) and others. The key market players are estimated to account for about 54% of the global business of fluorinated solvents.
Blends segment is estimated to account for about 41% of the global sales of fluorinated solvents by product type.
Asia Pacific region is expected to dominate the global market accounting for 50.7% of the overall demand of fluorosolvents in terms of value.
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