According to the latest report published by Credence Research, Inc. “Global Fluorinated Solvents Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Fluorinated Solvents market expected to grow at the CAGR of 5.8% from 2018 to 2026.
Manufacturers now a days are shifting towards new products formulated with hydro chlorofluorocarbons (HCFC), hydrofluorocarbons (HFCs), hydrofluoroethers (HFEs), perfluorocarbons (PFCs), and perfluoropolyethers (PFPEs) as these partially and fully fluorinated compounds are being used as solvent replacements for Class I and Class II ODS because they exhibit zero ozone depletion potential. Moreover, these solvents are also preferred owing to properties such as non-flammability, minimal global warming potential, high solvency with other oils and fluids, and good compatibility with different plastics, elastomers, substrates and metals. Fluorinated solvents are the ideal substitutes of chlorinated and brominated solvents as these solvents offers various advantages over chlorinated and brominated solvents while meeting regulatory compliance form most of the regulatory bodies. Moreover, low-odor and nonflammable properties of these chemicals contribute to a safer workplace environment thus leading to less government regulation and lower compliance costs. Fluorinated solvents are being increasingly perceived as a highly preferred choice by end use industries who have been focusing to protect the health and safety of their employees without affecting either performance or profitability. Fluorinated solvents are also known to have multiple desirable characteristics such as being a non-explosive type of cleaning solvent, demonstrating high solvency strength, rapid evaporation ability, and lower surface tension. Fluorinated solvents also have a low boiling point, low surface tension, non-requirement for tests for acid acceptance and no requirement need for stabilizer additives. Use of fluorinated solvents also translates into minimal non-volatile residue.
Based on the type, HFCs dominated the fluorinated solvents market in 2017. Whereas, HFEs expected to register the fastest CAGR during the forecast period. Electronics cleaning led the market in terms of value and volume consumption of fluorinated solvents market by application in 2017.
Browse the full report at: https://www.credenceresearch.com/report/fluorinated-solvents-market
Based on region, Asia-Pacific was the largest regional market in 2017 by value and volume. Economies such as China, Japan, and India driving the Asia-Pacific fluorinated solvents market owing to rising disposable income, strong economic growth, and surge in electronics and electronic components production in these economies propelling the demand for fluorinated solvents in the region. Asia-Pacific was also identified as the fastest growing region during the forecast period. North America and Europe closely follows Asia-Pacific region with the marginally less market share in 2017. Regulatory bodies across the globe especially in developed economies such as North America and Europe have targeted few conventional solvents such as HCFCs and HFCs for phasing out in a specific time period or at least scrutinizing their harmful effects for a phase out consideration, or have been totally banning their use.
Key manufacturers of fluorinated solvents operating in the market include Enviro Tech International, Inc., The Chemours Company, Solvay SA, 3M, Honeywell International, Electrotube, and AGC Chemicals among others.