The market for polychlorotrifluoroethylene is expected to register a CAGR of over 4% during the forecast period. The major factor driving the market studied is its broad range of applications in the electrical and electronics industry, owing to its properties and growing applications in pharmaceutical industry On the flip side, the presence of substitutes like PFA and FEP has been restricting market growth during the forecast timeline.
The electrical and electronics segment is expected to have a prominent market share in the market. Polychlorotrifluoroethylene has properties, like excellent mechanical properties, non-flammable, chemical resistance, and extreme temperature conditions, thereby, making it favorable for the electrical and electronics industry.
The Asia-Pacific region is expected to be the largest market for the polychlorotrifluoroethylene market because of the presence of various end-user industries, making extensive use of the product.
Key Market Trends
Electrical & Electronics Segment to Boost the Market
- Polychlorotrifluoroethylene is extensively applied in the semiconductors because of its good electrical properties. It possesses excellent mechanical properties, especially hardness and chemical resistance, and can also operate in most extreme temperature conditions.
- Polychlorotrifluoroethylene is non-flammable, has high optical transparency, chemical resistance, and near-zero moisture absorption. It gets transparent, elastic, and lighter when cooled. Films made of PCTFE are used as a water-vapor barrier for protecting phosphor coatings in electroluminescent lamps.
- In 2020, the global home appliance industry, a multi-billion dollar industry that includes electrical devices is anticipated to generate a revenue of USD 590 billion.
- Semiconductors make up the major part of the electronics devices, and the industry is highly competitive. The market size of the industry is expected to reach USD 433.03 billion by 2020.
- All the aforementioned factors are expected to drive the polychlorotrifluoroethylene market during the forecast period.
Asia-Pacific to Dominate Polychlorotrifluoroethylene Market
- The Asia-Pacific region is expected to dominate the polychlorotrifluoroethylene market during the forecast period, owing to the high demand from various end users in the region.
- In 2019, the Asia-Pacific region is projected to grow at a rate of 5% in the electrical and electronics segment.
- By 2022, sales of pharmaceuticals in Japan are projected to be about USD 150.44 billion which is highest in the region, followed by China having projected sales of pharmaceuticals to be USD 149.92 billion.
- The revenue generated from the electronics household segment in Asia-Pacific is anticipated to be USD 61.8 billion in 2020 and is forecast to register a CAGR of 9.1% during the forecast period.
- Thus, rising demand from various industries coupled, with government support, is expected to drive the market studied in the region during the forecast period.
The polychlorotrifluoroethylene market is consolidated. Some of the players in the market studied include DAIKIN INDUSTRIES, Honeywell International Inc., AFT FLUORTEC LTD, Welch Fluorocarbon Inc, and FCS.
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