Strict regulatory norms to augment fluorochemicals market outlook

Touted to be one of the most resourceful yet debatable business spheres in the overall bulk and specialty chemicals cosmos, global fluorochemicals market is all set to carve out a lucrative growth graph for itself in the years to come. This growth is driven by the product being a subject of questions by various regulatory authorities on grounds of its environmental viability.

In this regard, the EPA has undertaken significant measures to limit the use of over four poly and perfluorinated alkyl compounds, that contribute to the drinking water contamination across vivid states of the country. Apparently, this move marks a remarkable influence of the regulatory framework in positively influencing the fluorochemicals market trends.

A major evolution in the competitive landscape of fluorochemicals market is underway with industry majors joining forces and investing to come up with solutions that are in line with the sustainability trends. Navin Flourineโ€™s USD 410 million contract for production and supply of a high performance product in the fluorochemicals business space bears testimony to the aforementioned declaration.

According to news reports, one of the leading fluorochemical companies of India, Navin Fluorine International, is set to execute a multi-year contract, through its wholly-owned subsidiary, Navin Fluorine Advanced Sciences, with a global company at an investment worth USD 51.5 million. The move is targeted to produce and commercialize supply of high performance fluorochemical products. Moreover, the product distribution is anticipated to commence from the fourth quarter of 2022.

The growth spectrum of fluorochemicals market can also be attributed to a rich product landscape comprising fluorocarbons, fluoropolymers, and inorganics and specialties. Speaking of the fluorocarbons, it is pivotal to mention that these compounds find extensive use in propellants, refrigerants, blowing agents, solvents, and paints.

Elaborating on the paints aspect, fluorocarbon coating boasts of strong adhesion, chemical resistance, oil and water resistance, and extreme temperature resistance properties which makes it ideal for architectural coating. Moreover, decorative material coated with fluorocarbon paint has the ability to be shockproof, dustproof, lightweight, and has high heat and sound insulation. An additional benefit of use of fluorocarbon coating is its capability to overcome the disadvantages of vivid kinds of former exterior decorative materials as they offer brilliance to many large scale buildings with their solemn and beautiful appearance and its long-lasting weather-resistance.

However, recent protests against the use of fluorocarbons across various applications has been gradually declining the revenue sales of the product, reason- rising GHG contribution. It was recorded that in EU, emissions of HFCs rose to 1.9 per cent in 2012 from 1.0 in 1995, a count which is anticipated to only grow with time. This has added to the rising ozone layer depletion, making the product less wanted across various refrigeration and air conditioning industries.

In 2019, air conditioning and refrigeration industry representatives across the United States had compelled the US Congress to support the phasing down of HFC refrigeration, given the increasing GHG emission levels. Reports suggest that in a letter to the leadership of the House energy and Commerce Committee and the Senate Environment and PWC, members of AHRI (Air Conditioning, Heating, and Refrigeration Institute), and Alliance for Responsible Atmospheric Policy, had reportedly called in for support for proposed federal legislation to put forth a national structure for the phase down of HFCs.

Although this might reduce the product sales globally, several companies have been trying to develop materials that possess characteristics similar to fluorocarbons but are safer on the environment front, thereby augmenting the fluorochemicals market space outlook in the years ahead.

In a nutshell, endorsing a rich product and application spectrum, the global fluorochemicals market size is poised to register phenomenal gains in the coming years, exceeding an overall valuation of USD 70 billion by the end of 2024.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/153

About the author

Avatar of Juergen T Steinmetz

Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1977).
He founded eTurboNews in 1999 as the first online newsletter for the global travel tourism industry.

Share to...