Perfluorocarbons Market- Industrial Forecast, Market Analysis and Trends 2027

Global Perfluorocarbons Market: Key Insights

  • In terms of value, the global perfluorocarbons market is anticipated to expand at a CAGR of ~4% from 2019 to 2027, increasing from a value of ~US$ 900 Mn in 2018 to ~US$ 1.2 Bn in 2027.
  • Perfluorocarbons contain carbon and fluorine. They were introduced as alternatives to ozone depleting substances such as chlorofluorocarbons.
  • Based on product, the perfluoroalkanes segment accounted for a major share of the global perfluorocarbons market in 2018, due to the high consumption of these in the semiconductor manufacturing industry across the globe.
  • In terms of application, the semiconductor cleaning segment dominated the global perfluorocarbons market in 2018, due to its excellent performance properties and chemical inertness in plasma cleaning operations of the semiconductor manufacturing process.
  • The perfluorocarbons market in Asia Pacific is estimated to expand at a high CAGR during the forecast period, owing to the rise in the demand for semiconductors in the well-established electronics manufacturing industry in the region. 

Rise in Demand for Semiconductors to Drive Perfluorocarbons Market

  • Semiconductor cleaning is a major application of perfluorocarbons. Perfluorocarbons such as perfluoroethane and perfluoropropane are employed in plasma cleaning operations of chemical vapor deposition chambers in semiconductor manufacturing plants. The usage of perfluorocarbons in the cleaning process restricts the contamination of silicon wafers.
  • Perfluorocarbons are also used as heat transfer fluids in the semiconductor manufacturing process. No direct substitutes for perfluorocarbons are commercially available in this application due to the unique properties of perfluorocarbons that offer safe and efficient operations.
  • Significant growth in the electronics industry, primarily in developing economies such as China and India, owing to improvement of lifestyles due to the rise in disposable income, has augmented end-use electronics applications. Furthermore, expansion in the e-Commerce industry in developing countries has positively impacted the demand for consumer electronics products.
  • Semiconductor technology has evolved with the development of innovative products and process technologies for application in end-use industries. Growth in the electronics industry has augmented the demand for semiconductors across the globe. This, in turn, is anticipated to boost the demand for perfluorocarbons in semiconductor cleaning applications. 

Perfluorocarbons Market: Stringent Environmental Norms to Pose Significant Challenges

  • Perfluorocarbons are employed in various applications as substitutes for ODS in industries such as precision cleaning, metals and electronics cleaning, foam blowing, fire protection, and refrigeration and air conditioning. However, perfluorocarbons carry high global warming potential (GWP), around thousands times greater than carbon dioxide.
  • Numerous regulatory norms are being enacted to restrict the emission of perfluorocarbons due to their high GWP. For instance, the U.S. Environmental Protection Agency has allowed the use of perfluorocarbons only in applications where the usage of other chemicals is not technically feasible, due to safety requirements or performance parameters. Therefore, the implementation of stringent environmental norms is anticipated to hamper the global perfluorocarbons market during the forecast period.

Asia Pacific to be Highly Lucrative Region of Global Perfluorocarbons Market

  • In terms of value, Asia Pacific accounted for a major of ~ 45% of the global perfluorocarbons market in 2018.
  • China, South Korea, and Japan, in Asia Pacific, are key exporters of semiconductors that are used in the electronics manufacturing industry. The demand for consumer electronics and other electronics appliances has increased over the last few years in developing economies of Asia Pacific, such as China, India, and Indonesia, owing to improvement in the lifestyles of people due to the rise in disposable incomes. This, in turn, has augmented the demand for semiconductors in the region.
  • Thus, growth in the demand for semiconductors in the well-established electronics manufacturing industry is estimated to boost the demand for perfluorocarbons in Asia Pacific.

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Perfluorocarbons Market: Competition Landscape

  • The global perfluorocarbons market is highly fragmented with the presence of a large number of local and global players. Companies are investing significantly in R&D and product development to comply with the emission norms of perfluorocarbons, and gain a competitive advantage.
  • Key players operating in the global perfluorocarbons market are AGC Inc., The Chemours Company, 3M, Solvay, Fujian Yongjing Technology Co., Ltd., FluoroMed, L.P., F2 Chemicals Ltd., Changshu 3F Zhonghao New Chemical Materials Co., Ltd., Tianhe Chemicals, Vitreq B.V., and Pelchem SOC Ltd.

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