The compounds and the products utilizing fluorocarbons subsidize significantly to the quality of life while. Over the years many new technologies are being introduced that are fuelling investments in industrial in fluorocarbon gases market to utilize its properties to produce electrical equipment and products at a large scale. The improved technologies in air conditioning in buildings, food-preserving refrigeration, insulation systems, motor vehicles and others.
There are numerous recent attempts wherein businesses are working to make alterations to compounds with more environment protection without disturbing its basic attributes such as low toxicity, non-flammability and lot more. The market is being majorly driven by the growing electronic appliances and electronics manufacturing. There are numerous industries where a fluorocarbon gases is a prerequisite. Some other prominent industries where fluorocarbon gases are used are automotive, chemicals, semiconductors among others. CFCs emanates a very prominent usage in aerosol format products, as sterilants of equipment of medical usage, and in a lot of diverse applications including tobacco expansion, food freezing, cancer therapy and fumigation. The rising demand from different end use sectors is driving growth in global fluorocarbon gases market.
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The industry is entering into a fast moving phase. Growing number of industry players is rising the competition into unprecedented heights. Many fluorocarbon gases have a very high global warming potentials. Fluorinated gases are removed only in the upper atmosphere when they are damaged by sunlight. In general, fluorinated gases are the most long lasting type of gases emitted by human activities.
Fluorocarbon Gases Market: Drivers & Restraints
The growing need of high-end industrial activities in different industrial applications is pushing the end users to invest in and deploy fluorocarbon gases, subsequently growing the global fluorocarbon gases market. The demand is growing in industrial applications such as electronics manufacturing, semiconductors, home appliances etc. which is acting as one of the biggest driver for the increasing demand of the fluorocarbon gases and global fluorocarbon gases market dispersion.
In spite of of being in flammable, compact, and reliable source raw material/compound the fluorocarbon suffers from some challenges such as the changing legislations and strict mandates upon its usage. The gases are ozone depletion substances whose production and usage are controlled under an international agreement called ‘Montreal Protocol’. In some of the regions, usage of CFC’s and HCFC’s is phased out under this international agreement, and are being replaced by HFC’s. This is expected to restrain the global fluorocarbon market from growing.
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Fluorocarbon Gases Market: Region-wise Outlook
The global fluorocarbon gases market is projected to register a favourable growth for the forecast period, 2015?2025. APAC is projected to withstand its control on the global fluorocarbon gases market. The region is anticipated to uphold its dominance in the global fluorocarbon gases market due to consistently growing demand for fluorocarbon gases from developing economies such as China and India. China is the largest market opportunity in terms of revenue in APAC region. North American and Europe are likely to follow the Asia market in terms of growth in global fluorocarbon gases market.
Fluorocarbon Gases Market: Key Players
Some of the key market participants in global fluorocarbon gases market are Daikin Industries, Electronic Fluorocarbons, LLC, INOX Group, Hindustan Flurocarbons Limited, Fluorocarbon, among others.
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