Fluorinated Solvents Market By Type (CFCs, HCFCs, HFCs, HFEs, HFOs, Others), By Application (Electronic Cleaning, Metal Cleaning, Precision Cleaning, Heat Transfer, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The fluorinated solvents market value is expected to witness a CAGR of 5.8% during the forecast period from 2018 to 2026. Fluorinated solvents are fluorine-based solvents that are a direct replacement for chlorinated and brominated solvents that have a negative impact on the environment. Fluorinated solvents include CFCs, HCFCs, HFCs, HFOs, Hess, etc. Chlorofluorocarbons (CFCs) are not available for routine industrial usage owing to their negative impact on human health and the environment.

Next-generation fluorinated solvents such as HFO and HFE are gaining traction across the world owing to their zero ozone depletion rate (ODP) and low global warming potential (GWP). Moreover, fluorinated solvents have a low odor and low toxicity, which results in a safer workplace environment, leading to less government regulation and lower compliance costs.

Fluorinated solvents are compatible with a broad range of materials, such as plastics, elastomers, metals, and other substrates. Fluorinated solvents are mostly preferred for cleaning as they evaporate quickly and leave very little residue. Fluorinated solvent applications are expected to rise in the coming years as they pose a lower threat to the environment and are excellent substitutes for ozone-depleting chemicals. Fluorinated solvents have been displaying advantages, such as proving to be a direct alternative for chlorinated and brominated degreasing solvents with regard to meeting regulatory compliance from most of the regulatory bodies worldwide.

Factors such as low toxicity and flammability, low environmental risk, and improved cleaning and deposition are driving the growth of fluorinated solvents across the globe. However, there are a few restraining factors, such as high cost, flammability, production of toxic by-products, and the availability of natural alternatives, that are projected to hamper market growth over the forecast period. The solvent industry has been moving toward more environmentally friendly materials and processes, which has led to the phasing out and/or replacement of many industrial chemicals, including industrial solvents.

Fluorinated solvents have been displaying advantages, such as proving to be a direct alternative for chlorinated and brominated degreasing solvents with regard to meeting regulatory compliance from most of the regulatory bodies worldwide. Besides, the very high chemical stability of fluorinated solvents makes them an excellent option for solvent recovery and recycling programs. Major players operating in the fluorinated solvents market include 3M, The Chemours Company, AGC Chemicals, Honeywell International, Inc., The Dow Chemical Company, Solvay SA, and Arkema SA, among others.

Market Snapshot: Global Fluorinated Solvents Market Volume

By 2026, Hess Solvent is expected to outnumber HFCs in market share.

HFCs dominated the fluorinated solvents market by type in 2017. The phaseout of CFCs and HCFCs in developed economies such as North America and Europe has resulted in the use of environmentally friendly alternatives such as HFCs. HFCs are proven alternatives to ODSs; however, HFCs exhibit more than ten years of atmospheric lifetimes, which violates the laid-down environmental regulations. As a result, market players have introduced HFEs with reduced atmospheric lifetimes. HFCs are replacing many high-GWP materials from different applications that include precision cleaning, coating deposition, and heat transfer fluids.

HFE solvent emissions are significantly lower than those of the material it replaces, which in turn propels its market growth. HFE is also identified as the fastest-growing type during the forecast period. HFOs, on the other hand, is expected to grow rapidly during the forecast period due to their low environmental impact.

In 2017, Electronics Cleaning led the Application Segment.

Electronics cleaning dominated the fluorinated solvent application market in 2017 and is expected to maintain its dominance throughout the forecast period. Fluorinated solvents find promising applications in electronic component cleaning, such as on audio and video heads, reflector glasses for laser printers, lenses, and high-precision plastic.

These solvents have excellent solvency with a wide range of cutting oils, greases, silicone oils, press oils, asphalt pitches, refrigerant oils, and fluxes, which makes them an ideal cleaning material for the electronics industry. They also act as solvent carriers for silicone oils, hard disc lubricants, fluorinated greases, and anti-rust agents. Precision cleaning applications are identified as the fastest-growing segment during the forecast period. Other applications include coating deposition solvents, lubricant carriers, refrigerants, etc.

During the Forecast Period, Asia-Pacific will continue to be the dominant region.

Asia-Pacific was the largest regional market for fluorinated solvents in 2017, and it is also expected to see strong gains in the coming years on account of flourishing end-use industries such as electronics manufacturing in China, Korea, and Taiwan. Furthermore, rising disposable income, an increase in electronics demand in recent years, and manufacturers' preference for offering products that meet environmental regulations imposed by governments and various organizations are expected to drive fluorinated solvent market growth.

In terms of value and volume consumption, the Asia-Pacific market is closely followed by North America and Europe. Rising automotive manufacturing activities in China, India, Indonesia, and Malaysia are predicted to propel the application of fluorinated solvents in HVAC systems for vehicles, thereby adding to regional demand. The abundance of metal reserves in Asia-Pacific economies such as China, India, and Australia, along with government initiatives to promote FDI in the domestic metal sector, is driving the demand for fluorinated solvents in the region for metal cleaning applications. Asia-Pacific is also identified as the fastest-growing region during the forecast period.

Key Fluorinated Solvents Market Players' Preferred Strategy is New Product Development.

Because of rising environmental regulation in developed economies on using eco-friendly solutions with low GWP and ODS, as well as the phasedown of hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs) under global treaties such as the Montreal Protocol, manufacturers and end-users are being pushed to shift to green solvents, making new product development the preferred strategy among fluorinated solvent market players.

For instance, in order to comply with environmental regulations and consumer demand for green solvents, AGC introduced AMOLEATM AS-300 in October 2017. This launch helped AGC to respond to the demand for CFC and HFC substitutes with minimal environmental impact. Key players operating in the fluorinated solvents market include Enviro Tech International, Inc., The Chemours Company, Solvay SA, 3M, Honeywell International, Electrotube, and AGC Chemicals, among others.

Periods of History and Forecast

Each market segment is analyzed in our study for the period of 2016 to 2026,with 2017as the base year, while the period from 2018 to 2026 is considered for the CAGR calculation.

Report Scope

The report provides a thorough outline of the global market for fluorinated solvents by categorizing the market into the different segments given below:

Key questions are answered in this report.

  • What are the current market trends in the fluorinated solvents market, and what opportunities exist for players?
  • Which is the most lucrative region for investment?
  • What are the market size and trends in emerging markets?
  • Which are the prime applications of fluorinated solvents across different geographies?
  • Which are the different types of fluorinated solvents and their market sizes?
  • Which are the leading players and their market positions?

Frequently Asked Question:

The market for Fluorinated Solvents Market is expected to reach USD$ XX in 2026.

The Fluorinated Solvents Market is expected to see significant CAGR growth over the coming years, at 5.8%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Enviro Tech International, Inc., The Chemours Company, Solvay SA, 3M, Honeywell International, Electrotube, and AGC Chemicals. are some of the major players in the global market.

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Published Date:  Nov 2018
Category:  Advanced Materials
Report ID:   59449
Report Format:   PDF
Pages:   120
Rating:    4.4 (49)
Delivery Time: 24 Hours to 48 Hours   
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