The global market for fluorotelomers is expected to reach USD 539.3 million by 2020, according to a new study by Grand View Research, Inc. Increased use of fluorotelomers in fire fighting foams and textiles is expected to drive demand over the next six years. The market is still in the nascent stage and is expected to gain significant share over the forecast period on account of substitution of other flurocarbons.
These products are preferred on account of their non toxic nature and the fact that they do not bio-accumulate in animals. Fluorotelomer alcohols such as TEOH-4 and TEOH-6 were the largest consumed product segment in 2013 and accounted for over 30% of global consumption. Fluorotelomer iodide is expected to be the fastest growing product segment at an estimated CAGR of 13.1% from 2014 to 2020.
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Further key findings from the study suggest:
- The global fluorotelomers demand is expected to reach 47,492.4 tons by 2020 growing at a CAGR of 12.5% from 2014 to 2020.
- Textiles were the largest application market, accounting for over 34% of the global fluorotelomer consumption in 2013. The segment is also expected to witness fastest growth at an estimated CAGR of 13.6% from 2014 to 2020 on account of enhanced demand from end-use industries.
- Fire fighting foams and food packaging were key application segments, together generating revenue in excess of USD 130 million in 2013. Fire fighting foams are increasingly being used owing to the strict construction norms in most emerging economies.
- Asia Pacific was the most dominant regional market accounting for over 46% of global consumption in 2013. The presence of application industries such as textiles is expected to help the region maintain dominant position over the next six years.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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