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Fluorine Market, Size, Share, Opportunities and Forecast, 2020-2027


(EnergyIndustry.Net, June 25, 2020 ) Market Overview
• The Global Fluorine Market is expected to grow at a CAGR of 4.2% during the forecasting period (2020-2027).
Fluorine is the most reactive chemical element and lightest halogen member which exists as a pale yellow gas with a pungent odor. It reacts with water to form hydrofluoric acid and oxygen. It is the most electronegative element which reacts with all other elements except for argon, neon, and helium. It does not occur free in nature and available in the form of different fluorine compounds. It is used in making steel, chemicals, ceramics, lubricants, dyes, plastics, and pesticides. It is shipped as a cryogenic liquid.

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Market Dynamics:
• The market growth is driven by the rising demand and consumption of fluorine in various industries such as include metallurgy, aluminum electrolysis, the manufacture and processing of glass, abrasives, electroplating processes, ceramics, electrical engineering, electrochemical elements, energy storage, and others. There is growing adoption of fluorine in metallurgy as a metal fabricating agent for cleaning the surface of the metal. It is widely used in the nuclear industry for producing uranium hexafluoride which can act as a nuclear fuel to power a nuclear warhead or nuclear power plant.
• Advancement of different technologies being adopted by the companies for increasing the production of fluorine for meeting the consumers’ demand shall boost the market growth. For instance, Solvay is using Solvay F2 production-technology for the production of fluorine by electrolysis of hydrogen fluoride in an onsite production-unit. It includes the scale-down of common technology parts and process improvements. It allows a safe and reliable production of F2 e-grade on-site, delivered to the customer on demand.
• The global fluorine market is witnessing the launch of the emerging products which could fuel the market growth over the forecasted period. For instance, in March 2017, AGC Asahi Glass had launched the global sales of new brand SURECO, a high-performance fluorinated coating agent which has excellent anti-abrasive properties together with advantages of fluorine.
• However, the inhalation of fluorine could lead to the development of various disorders such as pulmonary edema, pneumonitis, cardiac arrhythmia, tetany, burns and intoxication hazards. Fluorine is very volatile that it leads to the formation of bright flame with ground metals, glass, ceramics, carbon and even water and cause hazards. High manufacture, transportation and storage cost of fluorine is hindering the market growth.

Market Segment Analysis
• The global fluorine market is segmented based on type as fluorite, cryolite, and fluorapatite. Fluorite accounts for the significant market share due to the increasing use of fluorite in the glass industry production of certain glasses and enamels. It is widely used in the steel industry as a flux to lower the melting point of raw materials in steel production to aid the removal of impurities. It is also used for producing aluminum. The pharmaceutical industry is using fluorite for manufacturing the antidepressants such as selective serotonin reuptake inhibitors, citalopram for preventing the non-selective interference with neurotransmitters. Antibiotics such as Quinolones are using fluorite for enhancing the effects of the antibiotics. Liquid fluorocarbons aid in artificial blood and in liquid breathing due to their ability to hold large volumes of oxygen or carbon dioxide in more than blood.
• Cryolite segment is expected to have positive market growth due to the rising demand in the agriculture segment for producing the insecticides and pesticides for protecting the crops. It is widely used for metallurgical applications. Aluminum manufacturers are using cryolite for making the extraction of aluminum more economical. It is used as a solvent for aluminum oxide (Al2O3) for decreasing the melting point of molten aluminum oxide and increasing its conductivity.
• Further, the market is also classified on the basis of application into synthetic chemical materials, pharmaceuticals, pesticides, plastis, electronic cleaning and others. Synthetic chemical materials account for the significant market share due to the high demand for fluorine in the chemical industries for producing a variety of chemical compounds. It can form the organic and inorganic compounds with hydrogen, metals, nonmetals, and even noble gases due to its tendency of adopting an oxidation state of −1. According to the International Congress and Convention Association (ICCA), the chemical industry added USD 5.7 trillion contributions to world GDP in 2017. It is expected to increase over the forecasted period.
• The pharmaceutical segment is expected to have positive market growth due to its use in manufacturing pharmaceutical drugs. Out of all the marketed pharmaceutical drugs, 20% of drugs contain fluorine due to its tendency to delay their metabolism in which the drugs are turned into compounds that allow them to be eliminated. Thus, it is effective in promoting the half-lives and providing longer times between dosing and activation. It is also used during the drug design process due to its ability to change the chemical properties of the molecule in desirable ways. Fluorine is also used in inhaled general anesthetic agents such as halothane, sevoflurane, desflurane, enflurane, and others.

Market Geographical Analysis
• By region, the global fluorine market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, North America accounts for a significant market share as it is one of the fastest-growing pharmaceutical markets as it is being used for producing therapeutic drugs. Fluorine are used in common mineralocorticoids such as fludrocortisone as for increasing the medical power and anti-inflammatory effects. Many companies also use fluorine in producing synthetic corticosteroids such as dexamethasone and triamcinolone. According to the International Federation of Pharmaceutical Manufacturers & Associations, the research and development industry had grown consistently over the past 15 years more than doubled the publicly-funded National Institutes of Health’s (NIH) expenditures. Rising research and activities in the pharmaceutical will drive market growth over the forecasted period. Mexico is the lucrative market due to the presence of vast reserves for fluorine.
• Asia Pacific region is expected to have positive market growth due to the high usage of fluorine producing several organic and inorganic chemical compounds. Chemicals constitute a significant part of the Asian economy. According to the CEFIC organization, six out of ten Asian countries i.e. China, Japan, South Korea, India, Taiwan, and Saudi Arabia are the largest producers of chemicals. China’s chemical sales are higher in comparison to Europe and the United States combined market. As per the India Brand Equity Foundation, the chemical industry is one of the growing industries in India which is expected to double to USD 300 billion by 2025. Total chemical exports were USD 9.09 billion during the year 2018-2019 and it is further expected to increase over the forecasted period. There is high usage of fluorine in various end-use industries due to the rising industrialization which is expected to stimulate market growth.
• Latin America and the Middle East & Africa are expected to have low market growth in comparison to the other regions due to the weak growth of the various industries such as chemical, nuclear fuel, electronics, and semiconductors in these regions.

Competitive Analysis
• The global fluorine market is witnessing the presence of local and international players with competitive prices. ADCO Global Inc., Aicello Chemical Co. Ltd, Linde plc, Air Liquide S.A., and Central Glass Co., Ltd. are the leading players with a prominent share in the market. There are high entry barriers that make it difficult for new entrants to enter the market.
• Companies are using new product launches, product diversification, capacity expansion, technology advancement strategies for improving their penetration in the market. For instance, in August 2018, AGC had established a new production facility in Japan for drastic expansion to production capacity for Fluon+ EA-2000 Fluorinated resin.
• The companies are entering into the collaborations, mergers, strategic partnerships and acquisitions to increase the demand for Fluorine and their expansion across the globe. For instance, in October 2018, Central Glass had entered into the agreement with China’s Zhejiang Britech Co., Ltd. for establishing the joint venture company to produce and sell tungsten hexafluoride (WF6) used in semiconductors.

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