Perfluorocarbons Market

Perfluorocarbons Market outlook ( 2021-2031)

The global perfluorocarbons market, the industry is gaining steady traction, anticipated to expand 1.5x throughout the 2021-2031 assessment period. As per the report, the market is likely to reach US$ 1.4 Bn by the end of the said forecast period. Applications will abound across semiconductor cleaning, cosmetics and medical domains respectively.

Key Points Covered in Perfluorocarbons Industry Survey

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• Assessment by Product Grade / Purity / Formulation Standards
• Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
• Certifications and Compliance Requirements
• COVID-19 Impact on the Perfluorocarbons Industry and How to Navigate
• Recommendation on Key Winning Strategies

Consumption Analysis of Perfluorocarbons 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, during the historic period of 2016 to 2020, the market expanded at a CAGR of 3%.  Perfluorocarbons manufacturers have been witnessing steady demand from diverse sectors over the past years. Growing focus on new inventions and advancements in manufacturing infrastructure has further catered to the growth of suppliers. 

As key application sectors such as cosmetics, electrical processing, and semiconductor cleaning, to name a few, are getting back on their feet post COVID-19, the requirement and use of perfluorocarbons are likely to rise further over the coming years.

A rise in focus and investments in research & development (R&D) activities, coupled with prominent demand for alkyne, perfluoroalkane, and others, is expected to cater to the growth of suppliers through 2031. Considering these factors, the global perfluorocarbons market is slated to expand at around 4% CAGR over the next ten years (2021-2031).

Improvements in Diagnostic Imaging Capabilities Enhancing PFC Uptake?

Perfluorocarbons have enjoyed an important position in the healthcare domain- being recognized as synthetic oxygen carriers among other applications. Of late, the diagnostic imaging sector has opened up credible opportunities for perfluorocarbons.

Perfluorocarbons enhancement effects are detectable by ultrasound and magnetic resonance, as well as by standard radiography and CT. Out of all PFCs, perfluoroctylbromide (PFOB) is deployed at a CT contrast agent to enhance the blood pool, and as both a CT and an ultrasound contrast agent to enhance liver, spleen, abscesses, infections and tumors.

PFC enable imaging is highly effective in locating inflammatory cells. A series of human clinical trials have established that Fluosol, a popular ultrasound contrast agent, produced tumor enhancement at 1.6 g/kg, permitting the visualization of previously measured lesions, and liver and spleen enhancement at 2.4 g/kg.

How is the Cosmetics Industry Widening Growth Margins for Perfluorocarbons?

The cosmetics industry has been expanding steadily owing to the rise in disposable income, economic development, and improvement in the standard of living; primarily in emerging economies are driving the demand for cosmetics.  Growth in demand for anti-aging products, services, and devices can be attributed to the rapidly aging and affluent baby boomer population and increasing beauty and health awareness among generations X and Y.

Furthermore, growing penetration of social media and relentless urge to have younger-looking skin has increased the number of people undergoing anti-wrinkle and anti-cellulite treatment & procedures. According to the International Society of Aesthetic Plastic Surgery (ISAPS), non-surgical anti-aging procedures across the U.S. are gaining wider adoption over invasive treatments. With the growing demand for anti-aging surgical and non-surgical procedures across the U.S., dermatology clinics and facilities will witness a massive boom over the forecast period.

Country-Wise Analysis

How is a Flourishing Healthcare Industry Widening Uptake across the U.S?

The U.S is leading the North American market, as far as perfluorocarbons are concerned, and is set to remain dominant throughout the forecast period. Highly advanced medical & electronics industries and technological advancements in manufacturing sectors are boosting demand for perfluorocarbons in the country.

According to a report titled “The Medical Device Industry in the United States”, published by SelectUSA, the United States medical & healthcare industry is highly progressive and includes more than 6,500 medical device companies. 

As stated in the report, electro-medical equipment, surgical appliances & supplies, and others are some key segments, with the U.S. industry representing over 40% of the global industry. These figures represent new opportunities awaiting perfluorocarbon manufacturers in the U.S, expected to surge at nearly 5% CAGR.

Why is Germany in the Spotlight for Perfluorocarbon Suppliers?

Germany is at the forefront of Europe’s perfluorocarbons (PFCs) market and is likely to maintain its lead throughout the forecast period. The high requirement in cosmetics, semiconductor cleaning, and medical sectors is predicted to bolster growth in Germany.

According to a report titled “Cosmetics and Personal Care Industry Overview”, published by Cosmetics Europe, Germany’s cosmetics industry is the largest in Europe and valued at EUR 14 billion. 

As stated in the report, the cosmetics and personal care industry brings at least EUR 29 billion in added value to the European economy annually, while the contribution of Germany is the highest. A CAGR worth 6% is expected across the country until 2031.

How big is the Opportunity in China’s Perfluorocarbons Industry?

Backed by highly developed manufacturing infrastructure and advanced key application sectors, China is in the limelight for key perfluorocarbon manufacturers.

According to a report titled “China- Cosmetics and Toiletries Industry” published by the International Trade Administration on 3rd February 2021, between 2011 and 2018, the cosmetics industry in China experienced steady growth expanding by over 60%. 

As stated in the report, China’s personal care and cosmetics industry is valued at US$ 42.8 billion and is forecasted to become the world’s largest industry within the next 5 years. Based on these aforementioned trends, perfluorocarbons sales are anticipated to surge at over 5% CAGR.

What Makes India a Highly Lucrative Market for Perfluorocarbons?

India has emerged as a high potential market for perfluorocarbons and is expected to show hegemony during the forecast period. Well-developed key application sectors along with steady growth in demand are expected to cater to the growth of industry players in India.

According to a report published by Invest India, the medical and healthcare industry in India is projected to reach US$ 372 billion by 2022. According to the India Brand Equity Foundation, the healthcare market can increase three-fold to Rs. 8.6 trillion (US$ 133.44 billion) by 2022.

In Budget 2021, India’s public expenditure on healthcare stood at 1.2% as a percentage of the GDP. This gives a glimpse of the high growth scope in India for perfluorocarbons suppliers. A revenue share worth 35% is anticipated for the Indian market.

Category-wise Insights

Why is Perfluoroalkane Highly Preferred in This Industry?

Presently, perfluoroalkane is the leading segment in terms of product and is expected to maintain its lead throughout the forecast period. High fluoropolymer production efficiency, enhanced resistance to heat, stain, grease or oil and applications for key end use industries is driving its growth.

According to Fact.MR, perfluoroalkane is likely to register a CAGR worth 4% across the 2021-2031 forecast period. Perfluoroalkane imparts excellent abrasion resistance, along with the ability to stay dry despite water absorption. This renders it as the primary choice for key applications.

Perfluorocarbons Usage to be Maximum for Semiconductor Cleaning?

According to Fact.MR, perfluorocarbons are likely to be most extensively applied in manufacturing semiconductor cleaners, accounting for nearly 45% revenue share until 2031. They are typically used for film etching, chemical vapor deposition chamber cleaning, or as coolants for semiconductor manufacturing tools.

While conventional perfluorocarbons are highly volatile and flammable, manufacturers have been developing non-flammable ones as well. For instance, Solvay S.A offers the Galden® SV solvent fluids, exhibiting a boiling point range of 55-135o C, is safe, non-flammable and non-toxic.  

Competitive Landscape  

Key players involved in the market are rigorously investing in the development and launches of new products to gain a competitive advantage and expand their consumer base. Mergers & acquisitions along with diversification of product portfolios are key business strategies implemented by participants in the industry.

• 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.

Report Scope 

Report Attribute	Details
Market Size Value in 2021	USD 945 Million
Market Size Value in 2031	USD 1.4 Billion
Growth Rate	4% CAGR from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	Revenue (US$) and Volume (Tons)
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	U.S. Canada Germany U.K. France Spain Italy Russia China Japan South Korea India Australia Brazil Mexico Argentina GCC South Africa
Key Market Segments Covered	Product Application Region
Key Companies Profiled	Solvay S.A 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 FluoroMed Specialty Chemicals
Pricing	Available upon Request

Key Segments Covered 

• Product

  • Perfluoroalkane
  • Alkyne
  • Aromatics

• Application

  • Perfluorocarbons for Semiconductor Cleaning
  • Perfluorocarbon Tracers & Taggers
  • Perfluorocarbons for Cosmetics
  • Perfluorocarbons for Electrical Processing
  • Perfluorocarbons for Medical Use
  • Others