Perfluorocarbons are a class of solvent molecules that can carry nonpolar gases, such as oxygen, nitrogen, and carbon dioxide. According to BlueQuark Research & Consulting, the global Perfluorocarbon market is expected to witness a considerable growth rate during the forecast period. Factors such as the growing demand for Perfluorocarbons in the cosmetic industry due to its numerous benefits to the skin drive the future Perfluorocarbon market. In addition, Perfluorocarbon is also used as solvents in the electrical processing industry, for semiconductor cleaning, and as refrigerants in some specialized refrigeration systems. Furthermore, the demand for Perfluorocarbon in the Medical Industry is on a surge owing to its excellent healing properties, usage as intravenous emulsion, and as a respiratory adjuvant, thus fueling the sales of Perfluorocarbons. However, the risks associated with Perfluorocarbon's manufacture as it may reduce platelet count in the blood increased intake might cause allergic reactions, and high laboratory set-up price might hamper the growth of Perfluorocarbon in the forecasted years.
Perfluoroalkane is the highly preferred Perfluorocarbons in the industries in terms of product and is expected to maintain the same demand during the forecasted years. Factors such as resistance to heat, grease, water, and oil make it helpful in producing coating in various products such as clothing, furniture, and others.
The medical and cosmetic industry is the prime consumer of Perfluorocarbons globally and is expected to drive the future Perfluorocarbon market. Perfluorocarbons carry oxygen to cells, allowing the skin to breathe and regulate itself for a healthy and radiant complexion. Perfluorocarbons can promote a state of equilibrium in the skin by moving oxygen from areas of greater concentration to areas where it lags. Perfluorocarbons can heal wounds, could be used as an intravenous emulsion and as a respiratory adjuvant. Perfluorocarbons are extensively used globally in vitreoretinal surgery, further expanding its application in multiplexed ultrasound and photoacoustic imaging. Recent developments in the Perfluorocarbons industry to manufacture artificial blood using Perfluorocarbons fluids as a blood substitute in the human body could revolutionize the Perfluorocarbons industry.
Major market players in the industry were FluoroMed L.P ., F2 Chemicals Ltd ., The Chemours Company , Fujian Yongjing Technology Co., Ltd , and Solvay among others.
The Asia Pacific is expected to dominate the Perfluorocarbons market in the forecasted year. This growth is attributed to the constant demand for Perfluorocarbons in the well-established semiconductor industries in China, Japan, and South Korea. In addition, the medical industry has been on the boom with constant research and development in the sector. Therefore, the demand for Perfluorocarbons in the medical industry in the Asia Pacific region is expected to rise significantly. According to a report by International Trade Administration, China's cosmetic and personal care industry was estimated at USD 42.8 billion, with a forecast of it becoming the world's largest market in the next five years. On the other hand, India is also witnessing significant growth in the healthcare industry. Invest India estimated the Indian healthcare sector at USD 1.9 billion in 2020, rising to USD 5 billion by 2023. As Perfluorocarbons have manly beneficial implications on the skin, the cosmetic sector has established itself as a significant consumer of Perfluorocarbons. Thus, the increasing disposable income and increasing standard of living are driving the cosmetic industry in the region. As the demand for Perfluorocarbons in medical, cosmetic, semiconductor and electrical industries is rising, the Perfluorocarbons market is expected to witness healthy growth in the forecasted years.
Global Perfluorocarbons Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Perfluorocarbons market by segmenting based on the Type (Perfluoroalkanes, Perfluoroalkenes), Application (Semiconductor Cleaning, Cosmetics, Medical, Electrical Processing, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market share, market dynamics, trends, developments, opportunities, and challenges in the industry. This report covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.