Fluorine Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2257 | Last Updated On: Oct 28 2022 | Available Formats

> Global Fluorine Market Expected to reach a high CAGR of 4.2% By 2029: DataM Intelligence

Global Fluorine Market is Segmented By Product Type (Fluorite, Cryolite, Fluorapatite), By Application (Synthetic Chemical Materials, Pharmaceuticals, Pesticides, Plastic, Electronic Cleaning, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Fluorine market size was valued at a growth in market size is expected resulting in a market size worth US$ XX billion by 2028, growing at a CAGR of 4.2 during the forecast period (2022-2029).

Fluorine Market Scope

Metrics

Details

Market CAGR

4.2%

Segments Covered

By Product Type , By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Fluorine is the most reactive chemical element, the lightest halogen. It is a pale yellow gas and has a pungent(very strong) odour. It has the atomic number 9 and atomic mass 18.99 u. It is the most electronegative element and reacts with all the chemical elements except argon, neon and helium. It has various applications like used in making chemicals, ceramics, lubricants, dyes, plastics, and pesticides.

Market Dynamics

The major factor driving the rising demand for Global Fluorine is the high usage of Fluorine in various industries such as metallurgy, electrolysis of aluminum, the manufacture and processing of glass, abrasives, electroplating, ceramics, electrical engineering, electrochemical elements, energy storage, and others.

Increasing Usage of Fluorine in Various Industries is driving the market growth

The use of fluorine in the metallurgical industry is growing as it is used as a metal fabricating agent to clean the surface of a metal. It is also used in the production of uranium hexafluoride which is a nuclear fuel used to power nuclear power plants/warheads. The demand for fluorine is also increasing in other fields like the electrolysis of aluminium, the manufacture and processing of glass, abrasives, electroplating, ceramics, electrical engineering, electrochemical elements, energy storage, and others. It is also used in making chemicals, ceramics, lubricants, dyes, plastics, and pesticides. Fluorine has many applications in the medical field like it is used in the mineralocorticoids such as fludrocortisone which increases the medical power and anti-inflammatory effects. Fluorine is also used in the production of synthetic corticosteroids such as dexamethasone and triamcinolone. Close to 30% of all the agrichemicals contain fluorine. Fluorine is also added to the public water supply to prevent tooth decay.

The development of new technologies for increasing the production of fluorine is driving the market growth of fluorine

Many companies are developing and launching new technologies for increasing the production of fluorine which is also an important factor for the market growth like a company named Solvay is using Solvay F2 production technology in which electrolysis of hydrogen fluoride in an onsite production unit takes place, this is used for the production of fluorine. This process includes doing the scale-down of common technology parts and improvements in the process. This results in a safe and reliable production of F2 e-grade on-site which is delivered to the customer on demand. Some companies are also launching new products to the market as A high-performance fluoropolymer named AFLAS was launched by AGC Inc in February 2019.

Various diseases and disorders associated with the inhalation of fluorine like tetany, pulmonary edema is hampering the market growth of fluorine

The high cost of manufacturing, transportation, and storage of fluorine is hampering the market growth

COVID-19 Impact Analysis

The Global Fluorine Market has shown a slight decline due to the COVID-19 pandemic, as there were full or partial lockdowns in many countries of the world. WHO declared covid-19 as a pandemic in 2020, due to which travel restrictions were imposed in different parts of the world. China, Mexico, and Canada are the largest producers of fluorite and due to the pandemic, production was disrupted, China is also the leading producer of cryolite. The supply chain was disrupted and due to which the fluorine market declined during covid-19. Fluorine has an important role in the pharmaceutical industry as it is used in the mineralocorticoids such as fludrocortisone which increases the medical power and anti-inflammatory effects and it is also used in the production of synthetic corticosteroids such as dexamethasone and triamcinolone. Even during the covid-19 pandemic, there was a huge growth in the pharmaceutical companies. According to the report, 27%-30% of all pharmaceutical drugs contain fluorine. The total sales of pharmaceutical products in the world was increased from $1030 in 2019 to $1070 in 2020 and it was only $970 in 2018. The global pharmaceutical industry was valued at USD 1.2 trillion in 2020. Fluorocarbons are used to develop artificial red blood cells and liquid breathing techniques. Fluorite is also important in the medical industry like it is used in the production of antidepressants like selective serotonin reuptake inhibitors(SSRIs), citalopram. Fluoride is used to treat diseases like osteoporosis, gingivitis, tooth plague. It is expected the market will grow but, slow growth is expected in the next few years as Government is investing a huge amount in the vaccination process, reducing the investments in other sectors. Demand from the medical field will drive the market in the future.

Segment Analysis

Global Fluorine is segmented based on Product Type, Application, and Region.

Based on the Type, the Global Fluorine Market is segmented into fluorite, cryolite, and fluorapatite.

Fluorite is also known as Fluorspar, Fluorite has the highest market share based on type as it is used in the glass industry for the manufacturing of various glasses and enamels. It has an important application in the steel industry like it is used as a flux in the manufacturing of open-hearth steel, aluminium, cryolite.  It is also used for apochromatic lenses. apochromatic lenses are designed to focus three colours in the same plane, unlike achromatic lenses which are used to focus only two colours in the same plane. Fluorite is also used in the production of antidepressants like selective serotonin reuptake inhibitors(SSRIs), citalopram used to prevent the non-selective interference with neurotransmitters. Selective serotonin reuptake inhibitors(SSRIs) cause fewer side effects than other antidepressants and also it is effective in moderate to severe depression. Fluorite is also used to enhance the effects of antibiotics like Quinolones. Fluorocarbons can hold large volumes of oxygen and carbon dioxide and hence are used in developing artificial red blood cells and liquid breathing techniques. China and Mexico are the largest producers of fluorspar producing 4.3 million tonnes, 1.2 million tonnes in 2020 respectively. Fluoride is also used to treat diseases like osteoporosis, gingivitis, tooth plague. Fluoride reduces the demineralization of teeth, sodium fluoride is used in toothpaste. According to the report, almost all the toothpaste used in developed countries is fluoride toothpaste.

Cryolite is also known as sodium Hexa fluoro aluminate, Cryolite also has a significant market share as it has an important application in the agricultural industry and is used in the production of insecticides and pesticides. It is also used in the metallurgical industry like it is used in the economical extraction of aluminium and, used as a solvent for bauxite/aluminium oxide in the Hall Heroult process used for smelting aluminium. It also decreases the melting point of molten aluminium oxide from 2500-2000°C to 900-1000 °C and increases the conductivity. It also gives a yellow colour to the fireworks. China is the leading producer of cryolite. India and the USA also have a significant market share of cryolite.

Fluoroapatite is also used to prevent tooth decay, it is also used as a gemstone. It is used in the production of hydrogen fluoride, phosphorous, halo phosphors.

Based on Application, the Global Fluorine market is segmented into synthetic chemical materials, pharmaceuticals, pesticides, plastics, electronic cleaning, and others.

Geographical Analysis

Based on Region, the Global Fluorine is segmented as - North America, Europe, Asia-Pacific, Middle East, Africa, South America.

North America has the highest share in the global fluorine market due to the high demand from the pharmaceutical industry, fluorine is also used for producing therapeutic drugs. Fluorines are used in the mineralocorticoids such as fludrocortisone which increase the medical power and anti-inflammatory effects. Fluorite is also used in the production of antidepressants like selective serotonin reuptake inhibitors(SSRIs), citalopram used to prevent the non-selective interference with neurotransmitters. Selective serotonin reuptake inhibitors(SSRIs) cause fewer side effects than other antidepressants and also it is effective in moderate to severe depression. Fluorite is also used to enhance the effects of antibiotics like Quinolones. Fluorocarbons can hold large volumes of oxygen or carbon dioxide and hence are used in developing artificial red blood cells and liquid breathing techniques. Fluorine is also used in the production of synthetic corticosteroids such as dexamethasone and triamcinolone. According to the report by the International Federation of Pharmaceutical Manufacturers & Associations, the R&D activities have progressed 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. Canada and Mexico have the highest market share in this region as they are among the largest producers of fluorine due to their huge fluorine reserves, in 2006 china was the biggest producer of fluorine but due to over exploration of fluorine, mineral reserves decreased.

The USA is one of the biggest exporters of pharmaceuticals in the world with total exports worth USD 24.3 billion in 2019. The North American region had an 8.2% market share of the world in exporting pharmaceuticals. According to a report by the Pharmaceutical Research and Manufacturers Association (PhRMA), the companies of the US have been involved in around half the world's Research & Development activities of pharmaceuticals worth USD 75 Billion and spend nearly 20% of their total revenue in R&D activities. Some of the major pharmaceutical companies of the region are Pfizer, Johnson & Johnson, Moderna, etc. Even during the covid-19 pandemic, there was a huge growth in the pharmaceutical companies and it is expected that the industry will grow in the future due to the high demand for vaccines, drugs for covid-19 vaccination, and treatment. US Pharmaceutical industry had total revenue of USD 490 billion in 2019. Total sales of pharmaceutical products in the US were around USD 510 billion in 2020.

Competitive Landscape

Global Fluorine Market is fragmented with key global players in the market. Some of the major companies contributing to the market's growth are- ADCO Global Inc, ACE Geosynthetics Enterprise Co., Ltd, Aiello Chemical Co. Ltd, Solvay S.A, Linde plc, Air Liquide S.A, AGC Inc, Central Glass Co., Ltd, Hyosung Chemical, Zhuoxi Gas, and many others.

Mergers and Acquisitions, expansions, joint ventures, etc increases competition in the market as AGC launched a high-performance fluoropolymer named AFLAS in 2019. AGC started a new production facility in Japan for the expansion to production capacity for Fluon+ EA-2000 Fluorinated resin in August 2018. Fluon+ EA-2000 is a material used in 5-G high-speed high frequency printed circuit boards.

New products, services launches,  partnerships, and agreements also increase competition between companies like Central Glass Co. and Zhejiang Britech Co., Ltd made a strategic agreement of a joint venture company for producing and selling tungsten hexafluoride(WF6). Tungsten Hexafluoride(WF6) is used in semiconductors.

AGC Inc

Overview:

AGC Inc is a Japanese multinational company dealing with glass manufacturing. The headquarters of the company is located in Tokyo, Japan. The company is one of the largest glass manufacturing companies in the world. The company was founded in September 1907 by Toshiya Iwasaki and was known as Asahi glass initially. The company is a part of the Mitsubishi group, a conglomerate of Japanese companies of different industries. The company was renamed AGC Inc on 1st July 2018. It is also listed on the Tokyo Stock Exchange. The company acquired AFG industries in 1992. Asahi India Glass Ltd.(AIS) is a subsidiary of AGC Inc, AIS is the largest Automotive glass manufacturer in the world. Other subsidiaries of the company are AGC Automotive, AGC Chemicals America, AGC Techno glass Thailand, etc. AGC was ranked 440 on the list of fortune 500 companies of the world in 2018 and the company was ranked 1227 on the list of  Forbes Global 2000 ranking in 2021. The company has various segments like Glass, Electronics, Chemicals, Ceramics, and Others. Glass segment deals with fire-resistant glass, security glass, heat-insulating glass, and automotive glass, the Chemicals segment deals with Chlor-alkali and urethane products, solvents, gases, water, and oil repellents, the Ceramics and Other segment deals with ceramic products, logistics, and financial services of the company. The Electronics segment deals with optical thin-film products, synthetic quartz products, semiconductor components, and lighting products.

Product Portfolio:

  • LUMIFLON: Solution soluble fluoropolymer which provides resistance against high UV.
  • AFLAS: High-function fluoroelastomer which provides resistance against alkaline and amine chemicals.
  • Fluon: Brand name of fluoropolymers of AGC Inc.
  • CYTOP: A fluoropolymer has properties like electrical insulation, water, and chemical resistance.

Key Development

  • A high-performance fluoropolymer named AFLAS was launched by AGC Inc in February 2019.
  • A new production facility was opened by the company in Japan for the expansion to production capacity for Fluon+ EA-2000 Fluorinated resin in August 2018.

Financial Overview

The company’s major shareholders are The Master Trust Bank of Japan, Ltd., Custody Bank of Japan, Ltd., Meiji Yasuda Life Insurance Company, Barclays Securities Japan Limited, Mitsubishi Estate Co., Ltd with market shares of 10.4%, 6.73%, 4.34%, 2.74%, 2.05% respectively. The company was ranked 1227 on the list of  Forbes Global 2000 ranking in 2021. The market value of the company is USD 10.1 billion.

Why Purchase the Report?

  • Visualize the composition of the global fluorine market products across each product type and application highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the global fluorine market by analyzing trends and co-development deals.
  • Comprehensive details on factors driving the market growth.
  • Excel data sheet with thousands of data points of global fluorine market-level segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

The Global Fluorine  radar market report will provide access to approximately 53 market data tables, 44 figures, and 200 pages

Target Audience 2022

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Emerging Companies
  • Research professionals
  • Distributors
  • Manufacturers

Frequently Asked Questions

What is the Projected CAGR value of the Fluorine Market?

Fluorine Market is expected to grow at a CAGR of 4.2 during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Fluorine Market during 2022-2029.

Which is the fastest growing region in the Fluorine Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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