India fluoropolymer & fluorosurfactant market is
expected to reach USD 258.5 million by 2022, according to a new report by Grand
View Research, Inc. Fluoropolymer is extensively used in numerous applications
for industries including automobiles, electrical & electronics and chemical
processing owing to its high heat resistance and excellent tensile strength.
Growing automotive sector in India on account of new product launches by
vehicle manufacturers including Toyota and Volkswagen is expected to open new
market avenues over the forecast period.
Rising awareness among citizens to curb fire emergencies
coupled with introduction and implementation of regulations by state
governments is expected to drive growth of firefighting solutions, which will
promote fluorosurfactant growth. Moreover, increasing product demand in
water-based paints to increase its wetting properties, is expected to propel
industry expansion.
Chemicals & pharmaceuticals dominated the fluoropolymer
market and is expected to witness significant gains at a CAGR of 14.3% from
2015 to 2022, in terms of volume, owing to growth of the chemical processing
sector in the country. In addition, the government has announced plans to
invest USD 80 million for technology upgradation of the chemical sector as part
of the 12thFive Year Plan. Growing requirement of the product in
chemical processing and pharmaceutical sectors owing to its superior chemical
and thermal resistance will propel demand in the near future.
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of This Report @ http://www.grandviewresearch.com/industry-analysis/india-fluoropolymer-fluorosurfactant-market-analysis
Further key findings from the report suggest:
- India fluoropolymer & fluorosurfactant demand was 8,300.0 tons in 2014 and is expected to reach 20,005.9 tons by 2022, growing at a CAGR of 11.7% from 2015 to 2022. Rapid industrialization is expected to be a key factor driving growth over the forecast period.
- Demand for fluorosurfactant in industrial cleaning accounted for 20.6% of the overall revenue in 2014. The product reduces surface tension, offers high wetting of contaminate and effectively provides sustainable foams which will drive industry size over the next seven years. Technological advancements in industrial cleaning sector in the country will augment product demand in the near future.
- Key industry participants include Gujarat Fluorochemicals Ltd., Chemours, Arkema and Hindustan Fluorocarbons Limited, Chemours, and 3M.Dyneon Fluoropolymers from 3M can withstand extreme temperatures, endures aging and wear & tear, and extends the life of processing equipment. Companies including Chemguard have developed fluorotelomer-based products which do not contain PFOS and PFOA, which will open growth opportunities in the near future.
- Fluorosurfactants are mainly imported into the country on account of absence of local manufacturing units. High capital investments coupled with complex technology for manufacturing the product has resulted in the absence of manufacturing units in the country.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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