Global Perfluoroalkoxy Alkanes Market: Overview
"The Perfluoroalkoxy Alkanes Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Perfluoroalkoxy alkanes (PFA) are a type of fluoropolymers, composed of tetrafluoroethylene (C2F4) and perfluoroethers (C2F3OCF3). These polymers are different from other fluoropolymers because the alkoxy substituents present in it allows to melt while processing. The properties of PFA is similar to polytetrafluoroethylene (PTFE).
Perfluoroalkoxy alkanes has an oxygen atom which makes the material translucent and improves the flow along with other properties such as thermal stability and creep resistance. It is widely used to fabricate piping and fittings to handle aggressive chemicals and in chemical processing industry to offer corrosion resistant lining of vessels.
Global Perfluoroalkoxy Alkanes Market: Dynamics
Growing demand for perfluoroalkoxy alkanes from various end use industries such as chemical processing, oil & gas, semiconductor, and others owing to its corrosion resistant and thermal stability properties is a key factor expected to drive growth of the global perfluoroalkoxy alkanes market in years to come.
In addition, increasing adoption of the product as lubricant in cookware & bakeware coatings owing to reduce wear, friction, and energy consumption of machine, is another factor expected to further fuel growth of the target market to a significant extent. Growing demand for ultra-pure PFA resin in semiconductor and pharmaceutical industries in order to handle fluids that require extremely low absorption level is among some factors further boosting demand for perfluoroalkoxy alkanes in the target market.
However, high cost of product owing to rising price of raw materials is a major factor expected to hamper growth of the global market. Additionally, stringent regulations for environmental concern is another factor expected to restrain growth of the target market.
Increasing adoption of perfluoroalkoxy alkanes in fiber optics application for jacketing material and rising demand for perfluoroalkoxy alkanes labware are dynamic factors expected to create new opportunities for players operating in the target market.
Global Perfluoroalkoxy Alkanes Market: Segment Analysis
Among product type segments, the aqueous dispersion segment is expected to account for significant growth in terms of revenue in the target market, owing to its wide use in various applications.
Among application segments, the semiconductor segment is projected to register significant revenue share in the target market. This is due to increasing demand for ultra-pure perfluoroalkoxy alkanes in semiconductor industry as it offers excellent electrical properties. In addition, increasing demand for consumer electronic products such as LCD, cell phones, etc. is another factor driving growth of semiconductor segment in the global market.
Global Perfluoroalkoxy Alkanes Market: Region Analysis
The North America market is expected to account for highest growth in terms of revenue in the global perfluoroalkoxy alkanes market and is expected to maintain its dominance in the next 10 years. This is attributed to increasing demand for PFA in fiber optics and semiconductor industries in countries in the North America region.
The Asia Pacific perfluoroalkoxy alkanes market is projected to register the fastest growth rate in the global market in the coming years. Increasing demand for PFA to fabricate tube for handling aggressive chemicals, coupled with rising demand for high purity PFA coating in transportation of critical fluids are among some of the other factors expected to augment growth of the target market.
Global Perfluoroalkoxy Alkanes Market Segmentation:
Segmentation based on Product Type:
- Aqueous Dispersion
Segmentation based on Application:
- Oil & Gas
- Chemical Processing Industry
- Fiber Optics
- Cookware & Bakeware Coatings
- Other Applications (Electrical Insulation, Pharmaceutical, etc.)
Segmentation based on Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- 3M Company
- Arkema S.A.
- AMETEK, Inc.
- DAIKIN INDUSTRIES, Ltd.
- The Chemours Company
- Solvay SA
- AGC Inc.
- HaloPolymer, OJSC
- Holscot Fluoroplastics Ltd.
- Li Chang Technology (Ganzhou) Co., Ltd.
- Gujarat Fluorochemicals Limited
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