Fluorosurfactant Market Is Projected To Grow At A Moderate CAGR During The Period (2023-2030)
The rising demand for fluorosurfactants in coating & adhesives applications is predicted to bolster healthy growth of the market in the forthcoming years, states Fortune Business Insights in a report, titled “Fluorosurfactant Market Size, Share & Industry Analysis, By Type (Anionic, Cationic, Non-ionic, Amphoteric), By Application (Paints &Coatings, Adhesive & Sealants, Firefighting foams, Detergents (stain repellent), Polymer dispersion, Others)Others and Regional Forecast, 2023-2030” the heavy demand for Fluorsurfactants in the construction industry is predicted to enable speedy expansion of the market.
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Flourishing Construction Industry to Aid Expansion
The wide utilization of fluorosurfactant in fire-fighting foams due to its fire suppressing properties particularly for polar liquid fires is predicted to have a tremendous impact on the market during the forecast period. The rising demand for fire-fighting foam and paint & adhesive applications in the construction industry is likely to boost the healthy growth of the market. The ongoing smart city projects in the emerging nations is expected to spur opportunities for the market in the forthcoming years. The rising investment in the development of robust infrastructure is expected to propel the growth of the market. Moreover, the growing awareness regarding the benefits of fluorosurfactant is expected to promote the growth of the market in the forthcoming years. However, the implementation of stringent environmental regulations owing to its toxic nature is predicted to hamper the growth of the market in the forthcoming years. Likewise, the adverse health effects of fluorosurfactantssuch as cancer, Hypothyroidism, Ulcerative colitis is predicted to limit the growth of the market. For instance, in 2018, 3M had to settle a lawsuit related to water contamination by fluorosurfactant in Minnesota for USD 850 million.
High Consumption of Paints & Coating to Aid Expansion in Asia Pacific
Asia-Pacific is predicted to dominate the global market during the forecast period owing to strong development in the construction industry. The increasing consumption of paints & coating along with adhesives and sealants is predicted to accelerate the growth of the market. Moreover, the rising demand for fluorosurfactants in the regionis likely to support market growth in the region. In 2016, the government of the United States launched the PFOA Stewardship Program that resulted in the phase-out of certain fluorosurfactant products. Europe is predicted to witness substantial growth during the forecast period. EU has also imposed restrictions on the production of PFOA, its salts, and PFOA-related substances used in the manufacturing of fluorosurfactant products. The Middle East & Africa is expected to witness moderate growth during the forecast period due to increasing consumption of paints, detergents, adhesives, and sealants in the region. However, political instability in the region is predicted to negatively impact market growth during the forecast period.
May, 2019: Dow, Dupont, Chemours, 3M, and solvay announced to pay for pollution clean-up caused by PFAS chemicals.
The Report Lists the Main Companies in the Fluorosurfactant Market:
- AGC SEIMI CHEMICAL CO., LTD.
- The Chemours Company
- OMNOVA Solutions Inc.
- Innovative Chemical Technologies
- MAFLON S.P.A
- DIC CORPORATION
- DYNAX Fluorochemicals
- SHIJIAZHUANG CITY HORIZON CHEMICAL INDUSTRY CO., LTD. and others
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