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Perfluorocarbons Market

Perfluorocarbons Market

Perfluorocarbons Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Perfluorocarbons Market
FACT5764MR

Market Snapshot

According to Fact.MR’s recent study on 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

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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 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.

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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.

Perfluorocarbons market forecast analysis by Fact.MR

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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. Highly 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.

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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

Perfluorocarbons Market- Scope of Report

A recent study by Fact.MR on the perfluorocarbons market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering perfluorocarbons.

The study also provides the dynamics responsible for influencing the future status of the perfluorocarbons market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the perfluorocarbons market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of perfluorocarbons across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of perfluorocarbons during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative perfluorocarbons markets?
  • Which factors will impact the growth of perfluorocarbons?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the perfluorocarbons industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of value (US$) and volume (Tons).

A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global perfluorocarbons market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the perfluorocarbons during the forecast period.

Country-specific valuation on demand for perfluorocarbons has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of perfluorocarbons, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering perfluorocarbons has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the perfluorocarbons domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the perfluorocarbons industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

According to Fact.MR, the market for perfluorocarbons is poised to reach US$ 945 Mn by 2021

From 2021 to 2031, perfluorocarbons demand is likely to grow at 4% CAGR

As per Fact.MR, perfluorocarbons value is likely to reach US$ 1.4 Bn by 2031 

From 2016 to 2020, perfluorocarbons demand surged at a CAGR of around 3%

Future prospects for PFCs are heavily reliant on applications across diagnostic imaging to provide better patient outcomes

High uptake across the cosmetics industry to develop effective anti-allergic formulations are driving perfluorocarbons demand

Demand for perfluorocarbons in the U.S is likely to surge at a CAGR of 5% from 2021 to 2031

Germany is likely to be the fastest growing market, rising at a CAGR of 6% until 2031

China is poised to experience a CAGR exceeding 5% from 2021 to 2031

Perfluoroalkane holds the maximum share, and is likely to exhibit a CAGR of 4% until 2031

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.