Peristence Market Research’s newly published market report, “Asia Pacific, North America and Europe Fluorinated Solvents Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment; 2018 – 2026,” examines the Asia Pacific, North America and Europe fluorinated solvents market and offers crucial market insights for the next ten years. According to the Asia Pacific, North America and Europe fluorinated solvents market report, Western Europe is expected to dominate the overall market in terms of growth. The Western Europe fluorinated solvents market is expected to register a CAGR of 12.6% during the forecast period (2018 – 2026). The Western Europe fluorinated solvents market is expected to expand at a CAGR of 12.0%, accounting for 7,678.9 Tons by the end of 2026. In Western Europe, the fluorinated solvents blend segment is expected to reach a market value of US$ 85.9 Mn by 2026 end.
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Asia Pacific, North America and Europe Fluorinated Solvents Market Dynamics
Fluorinated blends are widely used in the Western Europe fluorinated solvents market, which can be attributed to the relatively low price of blends in comparison to that of pure HFE, HFO/HCFO and HFC. Various companies are providing fluorinated blends, namely:
- Envirotech provides a fluorinated blend under the name ’ProSolv’, which consists of fluorinated solvents and additive trans 1,2-dichloroethylene
- AGC provides AsahiKlin AE-3000ATE, which consists of 1,1,2,2-tetrafluoroethyl-2,2,2-trifluoroethyl ether, trans-1,2-dichloroethylene, stabilizer and ethanol and is used for precision cleaning and cleaning the meta and electric parts
Fluorinated solvents are used in various end use industries such as medical, electronics, metal aviation and aerospace for cleaning purposes. They are also used in degreasing, as carrier solvents, and in the refluxing of printing wiring assemblies. Thus, attributing to the vast area of applications of fluorinated solvents, the sales of fluorinated solvents is expected to grow during the forecast period.
The price of fluorinated solvents is relatively high as compared to that of chlorinated, brominated, light petroleum distillates, glycol & glycol ether and formulated hydrocarbon solvents. In 2014 and 2015, Solvay announced an increase of 20% and 15% respectively in the price of Forane (Brand name of Fluorinated solvent offered by company). Thus, the high price of fluorinated solvents and the continuous increase in the prices of these solvents are expected to hamper the growth of the Western Europe fluorinated solvents market during the forecast period.
Major players identified in the Western Europe fluorinated solvents market are focusing on increasing their production capacities and market penetration through increased partnerships with major distributors & suppliers. Thus, attributing to the said factors, the Western Europe fluorinated solvents market is expected to gain momentum at a rapid rate during the forecast period.
Asia Pacific, North America and Europe Fluorinated Solvents Market Forecast
On the basis of product type, the fluorinated solvent blends segment is anticipated to be a leading revenue contributor in the Western Europe Fluorinated Solvents market. The segment is estimated to lead the overall Western Europe fluorinated solvents market, accounting for an estimated share of over 50.0% in terms of volume by 2026 end. Further, this segment is expected to register a CAGR of 16.7% in terms of value over the forecast period.
On the basis of application, the electronic cleaning segment is anticipated to dominate the Western Europe fluorinated solvents market throughout the forecast period in terms of growth. The segment in the Western Europe fluorinated solvents market is expected to expand at a CAGR of 13.5% in terms of value during the forecast period. Also, the North America fluorinated solvents market is anticipated to register a CAGR of 12.7% in terms of value during forecast period. These regions are expected to register the fastest growth in Asia Pacific, North America and Europe fluorinated solvents markets during the forecast period.
In comparison to the Asia Pacific fluorinated solvents market, the Western Europe fluorinated solvents market is expected to grow 1.4X in terms of value during the forecast period, which can be attributed to the phasedown of HCFC in Asia Pacific and growing demand for HFO/HCFO-based solvents products in Western Europe.
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Asia Pacific, North America and Europe Fluorinated Solvents Market Competitive Landscape
Some of the players identified in the Asia Pacific, North America and Europe fluorinated solvents markets include
- 3M Company
- Honeywell International Inc.
- The Chemours Company
- Solvay SA
- Asahi Glass Co., Ltd.
- Arkema SA
- Inventec Performance Chemicals
- Daikin
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