Perfluorocarbons Market
Perfluorocarbons Market Analysis by Perfluoroalkane, Alkyne, and Aromatics for Semiconductor Cleaning, Cosmetics, Electrical Processing, and Medical from 2023 to 2033
Analysis of Perfluorocarbons Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Perfluorocarbons Market Growth Outlook (2023 to 2033)
Based on the analysis by Fact.MR, the global perfluorocarbons market is estimated to reach a valuation of US$ 1.0 billion in 2023 and it is expected to grow at a CAGR of 4.0% to reach US$ 1.5 billion by the end of 2033.
Perfluorocarbons (PFCs) are a group of man-made chemicals that are used in a variety of industrial applications, including the production of semiconductors, refrigeration, and air conditioning systems.
Report Attributes |
Details |
Perfluorocarbons Market Size (2022A) |
US$ 982.8 Million |
Estimated Market Value (2023E) |
US$ 1.0 Billion |
Forecasted Market Value (2033F) |
US$ 1.5 Billion |
Global Market Growth Rate (2023-2033) |
4.0% CAGR |
Key Companies Profiled |
|
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Historic and Future Pathway Analysis for the Perfluorocarbons Market
Perfluorocarbons (PFCs) consist of carbon and fluorine used in the production of fluoropolymer coatings and products that are resistant to heat, oil, dirt, grease, and water. Perfluorocarbons are widely used in various cosmetic formulations because they transport oxygen to the cells, allowing the skin to breathe and self-regulate to maintain healthy, glowing skin.
- Short Term (2023-2026): Growth in the perfluorocarbon market is largely complemented by the semiconductor industry growth market, and is estimated that with the growing semiconductor industry the demand for the PFCs increase.
- Medium Term (2026-2029): Asia Pacific is expected to dominate the PFCs market in coming years. This growth is due to the constant demand from the well-established cosmetics industry in China and Japan.
- Long Term (2029-2033): Efforts by market players to remain competitive in the market and gain high-profit margins by catering to the needs of the end-users to remain prominent factors driving the market in a long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.0% CAGR between 2023 and 2033.
Market Dynamics Overview
“Surging Demand Across Growing Cosmetics & Medical Industry to Drive Perfluorocarbons Market”
The demand for Perfluorocarbons (PFCs) is expected to grow in the cosmetics and medical industry due to their unique properties and benefits.
In the cosmetics industry, PFCs are used in various products, including skincare and hair care products, due to their ability to enhance the delivery of active ingredients into the skin and hair. PFCs can help to improve the absorption and penetration of active ingredients, which can enhance the effectiveness of the product. Additionally, PFCs are also used in the formulation of long-lasting makeup products, such as lipsticks and eyeliners, due to their water-repellent properties.
In the medical sector, PFCs have various applications, including as blood substitutes and in ultrasound imaging. PFCs are used as blood substitutes due to their ability to carry oxygen and carbon dioxide, and they are used in ultrasound imaging as they enhance the contrast in images. Additionally, PFCs are also being explored for use in the treatment of various medical conditions, such as cancer and respiratory diseases.
“Factors Affecting Perfluorocarbons Market Growth”
One of the prominent restraints of using perfluorocarbons is their environmental impact. PFCs are known to be persistent in the environment and can remain in the atmosphere for several decades. They are also known to be potent greenhouse gases, with a global warming potential (GWP) that is significantly higher than carbon dioxide.
Furthermore, PFCs can also have negative impacts on human health. Some studies have linked PFC exposure to health problems such as liver damage, thyroid disease, and cancer.
Due to these environmental and health concerns, there have been efforts to regulate the use of PFCs in various industries. For instance, the use of certain PFCs in consumer products such as non-stick cookware and food packaging has been banned or restricted in some countries.
There are also regulations in place to limit the emissions of PFCs from industrial processes. As a result, companies in industries that use PFCs have been exploring alternative materials and technologies that are less harmful to the environment and human health, thus, limiting the market growth.
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Country-wise Insights
What are the Factors Driving Perfluorocarbons Demand Across the US?
The U.S. is leading the North American market and is expected to remain dominant throughout the forecast period. Technological advances in the sophisticated medical and electronics industries have increased the demand for perfluorocarbons in the country.
PFCs are widely used in the production of semiconductors, which are critical components in electronic devices. The growth of the semiconductor industry in the US is driving demand for PFCs. According to a report published by SelectUSA titled "U.S. Medical Device Industry," the U.S. medical and healthcare industry is highly progressive and includes more than 6,500 companies making various types of medical devices. Hence, this will contribute to the semiconductor industry’s growth as medical devices use semiconductor chips and other related products in medical devices.
Why is the German Perfluorocarbons Market Expected to Be Highly Lucrative?
Germany is the European perfluorocarbon (PFCs) market leader and is expected to maintain leadership throughout the forecast period. High demand in the cosmetics, semiconductor cleaning, and medical sector to support market growth in Germany.
With a highly developed manufacturing infrastructure and developed application sector such as cosmetics, Germany stands out as a leading producer of perfluorocarbons.
As per the report entitled " Cosmetics and Personal Care Industry Overview " published by Cosmetics Europe, the German cosmetics industry is the largest in Europe with an estimated value of US$ 15.2 billion.
As the report points out, the cosmetics and personal care industry are worth at least US$ 31.5 billion to the European economy each year, with Germany being the largest contributor. It is expected that the market to grow at a CAGR of 6.0% across the European markets.
Category-wise Insights
Why is Perfluoroalkane Gaining Traction?
Perfluoroalkanes, also known as perfluoroalkyl alkanes (PFAAs), are a type of perfluorocarbon that is highly preferred over other PFCs due to their unique properties and relatively lower environmental impact.
Perfluoroalkanes are non-reactive and can resist chemical degradation even at high temperatures. This makes them ideal for use in harsh chemical environments and high-temperature applications. Further, perfluoro alkanes have a lower bioaccumulation potential compared to other PFCs, which means that they are less likely to accumulate in the food chain and cause harm to living organisms.
Perfluoroalkanes have a lower global warming potential (GWP) compared to some other PFCs, such as perfluoro carboxylic acids (PFCAs) and perfluorosulfonic acids (PFSAs). This makes perfluoro alkanes a more environmentally-friendly option. In addition, perfluoro alkanes can be used in a wide range of applications, including surfactants, lubricants, and coatings. They are also used in the semiconductor industry for etching and cleaning processes. Hence, such factors are likely to drive the market's growth during the forecast period.
Why Demand for Perfluorocarbons is Surging from Semiconductor Cleaning?
Perfluorocarbons (PFCs) are widely used for semiconductor cleaning due to their properties that make them ideal for this application. PFCs are chemically inert and do not react with other chemicals, making them ideal for cleaning semiconductors.
They are also thermally stable, which makes them suitable for use in high-temperature processes. PFCs have a low surface tension, which means they can penetrate small gaps and crevices to remove contaminants. This is particularly important for cleaning small and intricate semiconductor components.
Further, PFCs have a high solvency power, which means they can dissolve and remove a wide range of contaminants, including organic and inorganic materials. Such factors drive market growth.
Know thy Competitors
Competitive landscape highlights only certain players
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Eminent Players Key Stratagems
Prominent perfluorocarbons manufacturers are 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., and FluoroMed Specialty Chemicals.
Key players are strictly investing in new product development and launch to gain a competitive advantage and expand their customer base. Mergers and acquisitions, and product diversification are the major business strategies implemented by industry players.
- In October 2021, The National Hockey League and The Chemours company announced the multiyear renewal of partnership to continue providing education, technical support, innovation, and sustainable solutions with Opteon refrigerants to support the NHL’s commitment to ensuring levels of hockey thrive for future generations.
Fact.MR has provided detailed information about the price points of key manufacturers of perfluorocarbons positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Perfluorocarbons Industry Research
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By Product :
- Perfluoroalkane
- Alkyne
- Aromatics
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By Application :
- Semiconductor Cleaning
- Tracers & Taggers
- Cosmetics
- Electrical Processing
- Medical Use
- Others
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
- FAQs -
What was the Global Perfluorocarbons Market Size Reported by Fact.MR for 2022?
The global perfluorocarbons market size reported by Fact.MR for 2022 was US$ 982.8 million.
What is the Perfluorocarbons Market Estimated to Reach in 2023?
The perfluorocarbons market size is estimated to reach US$ 1.0 billion in 2023.
What is the Projected CAGR for the Perfluorocarbons market from 2023 to 2033?
The projected CAGR for the perfluorocarbons market for the period of 2023-2033 is 4.0%.
Who are the Major Players in the Perfluorocarbons Market?
Market players include Solvay S.A, The Chemours Company, and 3M which are majorly operating and dominating in the market.
What are the Factors Driving the Perfluorocarbons Market Growth During the Forecast Period?
Factors such as the growing demand for perfluorocarbons from the expanding cosmetic industry and its application in electrical processing are anticipated to drive the perfluorocarbons market.