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Perfluorocarbons Market

Global Perfluorocarbons Market to Grow 1.5x, backed by Applications for Diagnostic Imaging: Fact.MR

Published : 18 Oct 2021 Industry: Chemical & Materials

A recently published report by Fact.MR reveals that the global perfluorocarbons market is projected to grow at a modest CAGR of 4% during the forecast period (2021-2031), reaching nearly US$ 1.4 Bn by 2031. Demand is gaining momentum with growing requirements from various application sectors such as semiconductor cleaning, tracers & taggers, and cosmetics.

From 2016 to 2020, the industry registered a CAGR of around 3%, attributed to the highly volatile and environmentally polluting nature. Moreover, growth prospects hit a trough amid the COVID-19 pandemic, with key end use industries experiencing major crunches in their operations due to the imposition of lockdowns. In the post pandemic scenario, demand has regained paced, as relaxations have been granted.

The future of perfluorocarbons is banking on their extensive applications in diagnostic imaging capabilities. As advanced screening technologies develop rapidly, agents facilitating such high-end imaging capabilities are spawning. For instance, perfluorocarbon stabilized microbubbles contain vapors which stabilize in vivo, providing intravascular dwell time of 8-10 minutes. This helps provide doctors accurate diagnosis and treatment for various chronic ailments, including cancer.

Key Takeaways from the Market Study

  • Global market for perfluorocarbons slated to expand 1.5x by 2031
  • Perfluoroalkane uptake to be maximum, carving a CAGR worth 4% from 2021-2031
  • Growing demand for semiconductor cleaning to fuel sales, capturing almost 45% revenue
  • U.S to be the dominant market across North America, experiencing a growth rate worth 5% until 2031
  • Germany to remain the epicenter of the market in Europe, clocking a CAGR worth 6%
  • China emerges as the leading country in Asia, climbing at a CAGR of over 5% through 2031

 “Technological advancements in medical and diagnostic imaging capabilities are permitting the introduction of PFC based screening, allowing doctors to prescribe patient-friendly yet high effective treatments for key chronic ailments,” says a Fact.MR analyst.

Competitive Landscape

Prominent perfluorocarbons manufacturers include Solvay, AGC Inc., The Chemours Company, 3M, Fujian Yongjing Technology Co., Ltd., Pelchem SOC Ltd, BVI, Changshu 3F Zhonghao New Chemical Materials Co., Ltd., F2 Chemicals Ltd, and FluoroMed Specialty Chemicals, among others. 

  • In October 2021, the National Hockey League® (NHL) and The Chemours Company, announced the renewal of their multiyear partnership to continue providing education, technical support, innovation and sustainable solutions with Opteon™ refrigerants to support the NHL's commitment to ensuring all levels of hockey thrive for future generations.
  • In December 2019, BVI acquired France-based Arcadophtha SARL, a specialist in perfluorocarbons for vitreoretinal surgery. Through this acquisition, the company has experienced a broad outreach of its Vitreq line of vitreoretinal surgical products.

More Insights Available

In its latest report, Fact.MR offers an unbiased analysis of the perfluorocarbons market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. 

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (perfluoroalkane, alkyne, and aromatics) and application (semiconductor cleaning, tracers & taggers, cosmetics, electrical processing, medical, and others) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

About the Chemical and Material Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant – Chemicals and Materials

E-mail: Yash@factmr.com

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Perfluorocarbons Market

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Perfluorocarbons Market By Product (Perfluoroalkane, Perfluoroalkene), By Application (Semiconductor Cleaning, Cosmetics, Electrical Processing, Medical) & Region - Forecast to 2021-2031