Polychlorotrifluoroethylene Market Size, Forecast 2028 | Daikin Industries Ltd. (Japan), Arkema Group (France), Honeywell International Inc. (US)

 

Market Insight

The polychlorotrifluoroethylene market has grown considerably over the years due to its recent developments in the major industries such as aerospace and pharmaceutical. Focused market reports on the chemical industry have been provided by Market Research Future, which states that the global polychlorotrifluoroethylene market is set to observe high CAGR and expand positively over the forecast period until 2023.

Polychlorotrifluoroethylene (PCTFE) is considered as a homopolymer of chlorotrifluoroethylene having the chemical formula (C2ClF3) n, where ‘n’ is the number of monomer units. PCTFE is a thermoplastic polymer of chlorofluoropolymer that possess excellent properties such as high tensile strength, creep resistance, high compressive strength, superior thermal characteristics, non- flammability, moisture protection, high chemical resistance, and low coefficient of thermal expansion.

Key Players

The prominent contenders in the global polychlorotrifluoroethylene market are Daikin Industries Ltd. (Japan), Arkema Group (France), Honeywell International Inc. (US), HaloPolymer (Russia), Saint-Gobain (France), Allied Chemical Corporation (US), Qingdao Hongfeng Si-F Science Ltd (China), Welch Fluorocarbon Inc (US), and GAPI Group (Italy).

Market Drivers & Trends

The polychlorotrifluoroethylene market is anticipated to observe a high rate of growth driven by factors such as its recent developments in aerospace and pharmaceutical industries. These industries provide lucrative opportunities to the new entrants for making more investments and existing key players for contributing more to the growth of the market. The augmented demand for polychlorotrifluoroethylene in the aerospace sector is due to its capabilities such as lightweight, robust retention of mechanical properties and chemical resistance, which has propelled the market growth over the foreseen years.

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The expansion of the market is expected to be positively influenced by the high rate of development owing to its moisture resistant characteristics, which is used in the production of moisture barrier films. Moreover, these films are used to manufacture blister packaging in pharmaceutical companies. Integration of extensive applications of polychlorotrifluoroethylene in various refrigeration applications makes the product ideal in handling liquid oxygen and liquid nitrogen. The study mentioned some of the key players, such as DAIKIN INDUSTRIES Ltd. that produces polychlorotrifluoroethylene at a reasonable cost. This becomes one of the significant contributions that is expected to make the global polychlorotrifluoroethylene market to reach the optimum level of growth during the assessment period.

On the flip side, factors such as the high cost of raw materials and low production volume may act as a hindrance for the global polychlorotrifluoroethylene market during the forecast period.

Market Segmentation

The polychlorotrifluoroethylene market globally has been categorized among various segments such as form, application, and end-use industry.

 By form: powder, pellet, and granule are the segments.

By application: films and sheets, tubes, wires and cables, coating, seals and gaskets, medical equipment, cryogenics, and others are the segments.

By end-use industry: pharmaceuticals, electrical and electronics, aerospace, oil and gas, and others are the segments.

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Regional Outlook

The market for polychlorotrifluoroethylene around the world includes regions such as Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific is the leading market. The rising importance of polychlorotrifluoroethylene, concentration of key players, and rise in the number of demands of it from pharmaceutical, aerospace, and electrical & electronics industries have influenced the market rise in this region. Considerably, the significant investments been made for research & development sectors also contributes to the development of polychlorotrifluoroethylene market. China, in 2017, was the leading manufacturer and producer of pharmaceutical ingredients had gained much revenue for market growth. Besides, countries such as India, Japan, Australia, and New Zealand are also major contributors to the evolution of polychlorotrifluoroethylene market.

The aerospace industry in North America is probable to observe a significant growth in the polychlorotrifluoroethylene market with the establishment and rapid growth of major aerospace manufacturers like Lockheed Martin, Boeing, and Airbus.

On the other side, Europe is estimated to gain substantial growth in global polychlorotrifluoroethylene market in support of the expansion of the semiconductor industry.  Regions such as Germany, the UK, France, Italy, and Spain are the bulging countries contributing to the regional market growth. Whereas, Latin America is anticipated to witness a relatively moderate growth due to recent advancements in the chemical and aerospace industries. Though, developments in the chemical industry are also expected to drive the market growth.