Fluorotelomers Market To Hit Value $539.3 Million By 2020 |Grand View Research, Inc.
The global fluorotelomers market is expected to reach USD 539.3 million by 2020, according to a new study by Grand View Research, Inc. Increased use of fluorotelomers in fire fighting foams and textiles is expected to drive demand over the next six years. The market is still in the nascent stage and is expected to gain significant share over the forecast period on account of substitution of other flurocarbons.
Fluorotelomers are primarily fluorocarbon based telomers or oligomers, manufactured by telomerization. Fluorotelomers find applications in fire-fighting foams, food packaging, stain resistance, and textiles. Fluorotelomers are also applied to food contact papers to enable them to be resistant to absorbing oil from fatty or fried foods. Fluorotelomer coatings find uses in microwave bags, fast food packaging, confectionery and box packaging.
These products are preferred on account of their non toxic nature and the fact that they do not bio-accumulate in animals. Fluorotelomer alcohols such as TEOH-4 and TEOH-6 were the largest consumed product segment in 2013 and accounted for over 30% of global consumption. Fluorotelomer iodide is expected to be the fastest growing product segment at an estimated CAGR of 13.1% from 2014 to 2020.
The global fluorotelomer market is highly regularized and technology centric. DuPont dominates the market, being a pioneer for fluorotelomer technology. Other notable companies operating in this market include Fluoryx Inc., Wilshire Technologies, Fluorous Technologies Inc. and TCI Chemicals.
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The global market for fluorotelomers is still perceived to be at a nascent stage with the significant untapped potential to be unlocked, especially in substitution applications for other fluorochemical compounds. In terms of environmental impact, fluorotelomer products are non-toxic, do not bio-accumulate in animals, do not concentrate up the food chain, and in general are not harmful to organisms.
Further key findings from the study suggest:
- The global fluorotelomers demand is expected to reach 47,492.4 tons by 2020 growing at a CAGR of 12.5% from 2014 to 2020.
- Textiles were the largest application market, accounting for over 34% of the global fluorotelomer consumption in 2013. The segment is also expected to witness fastest growth at an estimated CAGR of 13.6% from 2014 to 2020 on account of enhanced demand from end-use industries.
- Fire fighting foams and food packaging were key application segments, together generating revenue in excess of USD 130 million in 2013. Fire fighting foams are increasingly being used owing to the strict construction norms in most emerging economies.
- Asia Pacific was the most dominant regional market accounting for over 46% of global consumption in 2013. The presence of application industries such as textiles is expected to help the region maintain dominant position over the next six years.
The demand for fluorotelomers is increasing in niche industries, including semiconductor, metal plating, and photography owing to its environmental-friendly features. Furthermore, the latest developments in small & specialized applications, including optics, pharmacology, electronics, and repellants & surfactants are expected to offer significant opportunities for the fluorotelomers globally. The end-user industries are shifting towards technological advancements, which is expected to attract the young population across the world and is thus further going to boost the demand for fluorotelomers.
Furthermore, manufacturing of primary raw materials of fluorotelomers such as tetrafluoroethylene, chlorotrifluoroethylene, and hexafluoropropene are likely to have strict regulatory control at both regional and international level. In addition, the hazardous effects of these raw materials may challenge the market growth. Tetrafluoroethylene is declared toxic under the National Toxicology Program by the Department of Health and Human Services. Chlorotrifluoroethylene has acute toxicity, so it is a hazardous health chemical. All these raw materials have high toxicity levels, which are dangerous to health as well as environment. Rising concerns for health and environment among the consumers is likely to challenge the market growth.
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Grand View Research has segmented the global fluorotelomers market on the basis of application, product:
Fluorotelomer Application Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Fire Fighting Foams
• Food Packaging
• Stain Resistants
• Textiles
• Others
Fluorotelomer Product Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Fluorotelomer Alcohol
• Fluorotelomer Acrylate
• Fluorotelomer Iodide
Key fluorotelomer products include fluorotelomer alcohols, acrylates, iodides among others. Fluorotelomer alcohols, such as dominated the global market, accounting for over 32% of total volume demand in 2013.
Fluorotelomer iodides such as TEAC 4, TEAC 6 and TEMAC 6 are expected to be the fastest growing segment over the next six years.
Major Fluorotelomer applications include fire-fighting foams, food packaging, stain-resistant, and textiles. Foams and textiles dominated the global market, accounting for over 67% of the total fluorotelomer demand in 2013. Increasing textile applications for fluorotelomers are expected to present industry participants with significant opportunities over the next six years and expected to grow at a brisk rate. Other emerging fluorotelomer applications include metal plating industry, paper for glossy magazines, photographic industry and semi-conductors which are presently the subject of R&D.
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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