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"Global Perfluorocarbons Market was Valued at US$ 905 Mn in 2019 and it is Expected to Reach More than US$ 1266 Mn by 2028, Likely to Grow with the CAGR of 3.8 % During the Forecast Period."
Perfluorocarbons are the human-made chemicals and powerful greenhouse gases composed of carbon and fluorine only. They were introduced as alternatives to ozone-depleting substances (ODS). PFCs replace chlorofluorocarbons (CFCs) in manufacturing semiconductors. They are also used as refrigerants of some specialized refrigeration systems and as solvents in the electronics industry.
Increasing Demand from Electronics & Medical Industry is Anticipated to Drive the Demand for Perfluorocarbons
Perfluorocarbons are widely used in semiconductors as heat transfer fluids in the semiconductor manufacturing process. Currently, there is no direct substitutes for Perfluorocarbons are commercially available in this application due to the unique properties of Perfluorocarbons which offer safe and efficient operations. The significant growth in the electronics industry, especially in developing economies such as China and India, owing to the improvement of lifestyles due to the rise in disposable income, has augmented end-use electronics applications.
Furthermore, Perfluorocarbons liquids (PFCL) can be used in various medical applications, including ophthalmological operations such as vitreoretinal surgeries. Perfluorocarbons such as perfluoro-n-octane and perfluorodecalin possess unique physical properties that help improve the efficiency and safety of surgical procedures in complicated cases. Thus, the rise in the medicinal applications of Perfluorocarbons offers numerous opportunities to the global Perfluorocarbons market.
An Increasing Applications of Perfluorocarbons in Cosmetic Manufacturing Anticipated to drive the Perfluorocarbons Market
Perfluorocarbons are primarily used as oxygen carriers in cosmetic manufacturing. They find a wide range of applications, especially in anti-aging products. The popularity of cosmetics with multiple benefits such as anti-aging properties, moisturizing care, and suntan protection, has been rising across the globe. Furthermore, the high gas dissolving ability along with exceptional toxicological profile makes Perfluorocarbons one of the preferable cosmetic constituents.
In addition, the rise in disposable income and improvement in the standard of living, primarily in developing economies, have boosted the demand for cosmetics. Thus, an increase in the adoption of Perfluorocarbons in cosmetic applications is estimated to boost the global Perfluorocarbons market during the forecast period
However, the Environment-related concerns pertaining to Perfluorocarbons are estimated to hamper the global Perfluorocarbons market during the forecast period. Since the Perfluorocarbons do not directly harm the ozone layer however, they are strong global warming gases with high global warming potential (GWP). Thus, the regulatory bodies in various countries such as the U.S. Environmental Protection Agency (EPA) are controlling the usage of Perfluorocarbons to limit their usage as Ozone Depleting Substances (ODS) substitutes. EPA has allowed the use of Perfluorocarbons only in applications where the usage of other chemicals is not technically feasible, due to safety requirements or performance parameters thus the implementation of stringent environmental norms is anticipated to hamper the global Perfluorocarbons market during the forecast period.
Perfluoroalkanes Segment Is Expected To Dominate The Global Perfluorocarbons Market During The Forecast Period
The Perfluoroalkanes segment was the largest product segment, accounted for over xx % of global revenue share of global Perfluorocarbons market in 2019 and this trend is expected to continue over the forecast period due to their wide range of application in electronic, pharmaceutical, and personal care product end-use industries.
The Semiconductor Cleaning Segment is Expected to Witness Highest Growth in the Global Perfluorocarbons Market Across the Globe.
In 2019, Based on application, the semiconductor cleaning segment accounted for above xx % share in the global Perfluorocarbons market and is anticipated to expand at a 4.1 % CAGR during the forecast period owing to the high consumption of Perfluorocarbons in plasma cleaning operations.
Semiconductor cleaning is a major application of Perfluorocarbons. Perfluorocarbons such as perfluoroethane and perfluoropropane are employed in plasma cleaning operations of chemical vapor deposition chambers in semiconductor manufacturing plants. The usage of Perfluorocarbons in the cleaning process restricts the contamination of silicon wafers.
Asia Pacific Is Expected To Dominate The Global Perfluorocarbons Market During The Forecast Period
The Asia Pacific region is constituted the largest share accounted for over 40% market share of the global Perfluorocarbons market in terms of value, in 2019. It is estimated to expand at a significant rate during the forecast period, owing to the rise in the demand for semiconductors in the well-established electronics manufacturing industry in the region.
China, South Korea, and Japan, in the Asia Pacific, are key exporters of semiconductors that are used in the electronics manufacturing industry. The demand for consumer electronics and other electronics appliances has increased over the last few years in developing economies of Asia Pacific, such as China, India, and Indonesia, owing to the rise in disposable incomes and improvement in the lifestyles of people. This, in turn, has augmented the demand for semiconductors in the region. Thus, growth in the demand for semiconductors in the well-established electronics manufacturing industry is estimated to boost the demand for Perfluorocarbons in the Asia Pacific.
While North America and Europe expected to hold a considerable share of the global Perfluorocarbons market in 2019. The Perfluorocarbons markets in these regions are likely to expand at a moderate growth rate during the forecast period. Due to the stringent regulations in various countries owing to Environment-related concerns.
Some of the key players in the global Perfluorocarbons market are The Chemours Company,3M, Solvay, Fujian Yongjing Technology Co. Ltd., FluoroMed, L.P., AGCInc.,F2, Chemicals Ltd., Changshu 3F Zhonghao New Chemical Materials Co., Ltd., Tianhe Chemicals, Vitreq B.V., and Pelchem SOC Ltd.
Perfluorocarbons Market, Key Segments:
Perfluorocarbons Market, By Body Material
- Others (including Perfluorocycloalkanes and Perfluoroalkynes)
Perfluorocarbons Market, By Application
- Semiconductor Cleaning
- Tracers & Taggers
- Electrical Processing
- Others (including Refrigerants and Coatings)
Perfluorocarbons Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America