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Perfluorocarbons Market to Reach Valuation of US$ 1.4 Bn by 2031

Perfluorocarbons Market to Reach Valuation of US$ 1.4 Bn by 2031

 

 
Perfluorocarbons Market: Major Drivers and Restraints

The electronic devices market has been expanding significantly since the past few years. This can be ascribed to the rise in demand for smartphones, laptops, and other electronic gadgets.

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The advent of new technologies such as artificial intelligence and voice recognition technologies is encouraging end consumers to opt for higher number of electronic devices. Furthermore, replacement cycles and dropping prices of numerous electronic devices are driving the consumption of these products. According to the Consumer Electronics Association (CEA), the consumer electronics devices market is projected to reach US$ 415,897 Mn in terms of revenue by the end of 2021, an increase of 13.9% over that in the previous year. Thus, rise in demand for electrical & electronics devices is estimated to propel the demand for perfluorocarbons in the near future.

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Rise in disposable income and improvement in standard of living, primarily in developing economies have boosted the demand for cosmetics. The popularity of cosmetics with multiple benefits such as anti-aging properties, moisturizing care, and suntan protection, has been rising across the globe. Perfluorocarbons are used as oxygen carriers in cosmetics. They are used in a wide range of applications, primarily in anti-aging products.

The high gas dissolving ability, along with exceptional toxicological profile make perfluorocarbons one of the preferable cosmetic constituents.

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Perfluorocarbons are also employed in color products to enhance color endurance. Thus, increase in the adoption of perfluorocarbons in cosmetic applications is estimated to boost the global perfluorocarbons market during the forecast period.

Perfluorocarbons Market: Prominent Segments

Based on product, perfluoroalkane was an attractive segment of the global perfluorocarbons market in 2018. A wide range of perfluoroalkanes employed in several applications makes the segment attractive. The demand for perfluoroalkanes, including perfluorobutane, in medical applications as contrast imaging agent and surgical chemical in ophthalmological surgeries is anticipated to rise during the forecast period. Based on application, semiconductor cleaning was a key segment of the global perfluorocarbons market in 2018. It was followed by the electrical processing segment in the same year. The semiconductor cleaning application segment held a notable share of more than 65% of the global perfluorocarbons market in 2018. This trend is estimated to continue during the forecast period.

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Competition Landscape of Perfluorocarbons Market

Key manufacturers operating in the global perfluorocarbons market include Solvay, 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, and FluoroMed Specialty Chemicals.

Global Perfluorocarbons Market: Segmentation

Perfluorocarbons Market, by Product

Perfluoroalkane
Perfluoroalkene
Others (Alkyne and Aromatics)
Perfluorocarbons Market, by Application

Semiconductor Cleaning
Tracers & Taggers
Cosmetics
Electrical Processing
Medical
Others (Refrigerants and Coatings)

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Perfluorocarbons Market, by Region

North America
Europe
Latin America
Middle East & Africa
Asia Pacific
China

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports

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