Fluorosurfactants Are Estimated To Witness High Growth Owing To Rising Demand From Different Industrial Applications
Fluorosurfactants are artificially synthesized fluorocarbon surfactants containing a fluorinated hydrophobic group and a polar hydrophilic group. They are mainly used in applications such as paints & coatings, firefighting foam, agrochemicals, oilfield chemicals, and home and personal care. The exceptional properties of fluorosurfactants such as very low surface tension, strong emulsifying capacity, thermal and chemical stability make them suitable for these industrial applications.
The global fluorosurfactant market is estimated to be valued at US$ 622.39 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising demand from different industrial applications is estimated to drive the growth of the fluorosurfactant market during the forecast period. Fluorosurfactants are increasingly used in paints & coatings to improve their leveling, wetting, and flow properties. They enables production of coatings with excellent weather resistance and chemical resistance. Rapid industrialization and infrastructure development activities have boosted the demand for paints & coatings from construction and automotive industries globally. Furthermore, fluorosurfactants have wide applications in firefighting foam due to benefits such as effectiveness in suppressing hydrocarbon fuel fires and excellent moisture resistance. Stringent regulations regarding Phase-out of long-chain perfluorinated chemicals (PFCs) is likely to provide growth opportunities for short-chain and PFC-free fluorosurfactants.
SWOT Analysis
Strength: Fluorosurfactants have high chemical and thermal stability which makes them suitable for use in harsh industrial conditions. Their unique properties allow for effective wetting, leveling and spreading. They reduce surface tension drastically.
Weakness: Issues regarding the environmental, health and safety aspects of fluorosurfactants pose challenges. They are non-biodegradable and persist in the environment for long periods. Strict regulations pertaining to their use can hamper market growth.
Opportunity: Increasing demand from various end-use industries like paints & coatings, agriculture, and firefighting is a key opportunity. The greater emphasis on environment protection is boosting research for greener fluorosurfactant alternatives. Growing paints & coatings industry especially in Asia Pacific provides an avenue for market expansion.
Threats: Presence of substitutes like silicone surfactants and other conventional surfactants is a threat. The development of alternate technologies for some applications can replace fluorosurfactant usage. Intense competition from global players and pricing pressures can challenge smaller players.
Key Takeaways
The global fluorosurfactant market size is expected to witness high growth. Rapid industrialization and urbanization coupled with the growing need for more effective and efficient surfactants will drive the market. Regionally, Asia Pacific is expected to dominate the market owing to high growth of end-user industries in the region. China, India, Japan, and South Korea are major countries contributing to the Asia Pacific market growth.
Asia Pacific is projected to witness the fastest growth during the forecast period. Abundant availability of raw materials and low manufacturing costs are attracting investments in countries like China and India. The flourishing paints & coatings industry due to infrastructure development and construction activities will augment the regional market.
Key players operating in the fluorosurfactant market are DuPont, 3M, Advanced Polymer, DIC Corporation, ICI, ChemGuard, and AGC Seimi Chemical Co. The market is relatively consolidated with large players dominating. These companies are focused on product innovation and capacity expansions to strengthen their market position.
Get more insights on this topic: https://weblogmarketinsights.blogspot.com/2023/12/the-global-fluorosurfactant-market.html
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