Hydrofluoroether Market to Witness Steady Expansion During 2019 to 2027
According to the report, the hydrofluoroether market is projected to grow at over 14% CAGR through 2027.
[ClickPress, Wed May 15 2019] The study finds that widespread adoption of the chemical as a solvent in precision cleaning applications is expected to emerge as a vital revenue pocket for the hydrofluoroether industry. Key attributes of hydrofluoroethers, such as non-inflammability, chemical inertness, non-corrosiveness, and low toxicity have been leading their adoption in the cleaning of semiconductors and other electronic components. Additionally, recyclability of hydrofluoroethers using water washing or phase separation processes is making them a desirable compound for cleaning of electric components.
According to a recent report by Fact.MR, hydrofluoroether sales are estimated to surpass 6300 tons in 2019, and register a Y-o-Y growth at approximately 12% over 2018. One of the key factors impacting growth of the hydrofluoroether market is stringent government regulations that mandate the replacement of chlorofluorocarbons and hydrochlorofluorocarbons with cleaner alternatives.
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Hydrofluoroether Market – Key Insights
Constant revisions in Montreal Protocol in addition to the passage of F-Gas Regulations by the European Union in 2014 fuelled the demand for hydrofluoroethers in an assortment of industries. The hydrofluoroether market registered a healthy CAGR of over 10% during the 2013-2018 period.
The hydrofluoroether market was estimated at over US$ 293 million in 2018, with Y-o-Y growth in 2019 estimated at 13%.
Asia Pacific Excluding Japan is expected to remain the leading market for hydrofluoroether on the back of the burgeoning industrial production across industries such as automobiles, electronics, and lithium-ion battery packs.
The APEJ region is expected to emerge as a high-growth market for hydrofluoroether, on account of the healthy gross domestic product rates of the countries in the region which are likely to surpass 5%, according to the International Monetary Fund in the foreseeable future.
What are the Key Challenges Hampering Hydrofluoroether Market Growth?
- Although most of the hydrofluoroethers have low atmospheric life and global warming potential, some compounds in the category have substantially greater global warming potential than carbon dioxide. The increase in usage of hydrofluoroethers can potentially become a significant cause of global warming in the foreseeable future, a factor which could substantially dampen market growth.
- While there are no regulations pertaining to hydrofluoroether emissions, stringent guidelines for the production of the chemical compounds continues to remain a daunting challenge for manufacturers in the hydrofluoroether market. Coupled with the lack of effective production methods, the factor is expected to dampen hydrofluoroether market growth.
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Demand for Hydrofluoroethers in Cleaning Applications to Remain Robust
Companies are increasingly using hydrofluoroethers for cleaning semi-conductors and IC components owing to their chemical inertness, non-corrosiveness, high resistivity, good material compatibility, and low toxicity. The non-inflammability, lower toxicity, and non-irritability to human skin and eyes also make hydrofluoroether easier for workers to handle. Development of automatic precision cleaning machines for semi-conductors is also a vital cause fueling adoption of the compound in various cleaning applications.
With government regulations and international campaigns emphasizing on the complete replacement of hydrochlorofluorocarbons and chlorofluorocarbons with eco-friendly alternatives, demand for hydrofluoroether in aerosol formulations, electronic coating, heat transfer applications, and in dilution & deposition solvents is expected t0 surge with the compound exhibiting properties similar to CFCs and HCFCs.
Hydrofluoroether Market – Competitive Landscape
Some of the leading players operating in the hydrofluoroether market include Tianhe Chemicals Group Limited, SICONG Chemical, Juhua Group Corporation, China Fluoro Ltd., AGC Inc., and Shandong Huaxia Shenzhou New Material Co., Ltd.
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