Hexafluoropropylene Market: Introduction
Hexafluoropropylene (HFP) is a fluorocarbon alkene, whose molecular formula is C3F6, in which the hydrogen atoms present in propylene are substituted by fluorine atoms. It is an odourless & colourless inflammable gas and is slightly soluble in water. It is manufactured in a closed system. It is widely used as an intermediate in the pharmaceutical industry. Fluorine-containing high polymer materials are obtained by the copolymerization of hexafluoropropylene. Hexafluoropropylene is stored in carbon-steel or stainless pressure-resistant containers.
Fluoroelastomer produced by hexafluoropropylene is solvent-resistant, oil-resistant and heat-resistant owing to which it is significantly used in petroleum, aviation and automotive industries, which is expected to fuel its demand during the forecast period. Hexafluoropropylene is an important monomer as well as chemical intermediate for various fluorine-containing chemicals. It is also used as a raw material in leather-treating agents, fabric finishing agents and fluoride surfactants, among others.
Hexafluoropropylene Market: Dynamics
Hexafluoropropylene oxide or HFPO finds applications is various end-use applications such as in pharmaceuticals in the production of specialty polymers, fluoropolymers and agrochemicals, etc., as its consumption increases the production of Hexafluoropropylene.
Hexafluoropropylene is used as feedstock for a variety of applications, such as for producing fluorinated elastomers that include F246, F26 & FEP, the extinguishing agent HFC-227ea (heptafluoropropane) and fluorinated fine chemical products, such as pharmaceutical intermediate, fluorinated ether & fluorinated surfactants, etc. R227ea has nearly zero Ozone Depletion Potential (ODP), owing to which the demand of R227ea is expected to grow. This is expected to drive the demand for hexafluoropropylene. Thus, due its several applications, the demand for hexafluoropropylene is expected to grow significantly during the forecast period.
The growing demand for firefighting chemicals, plastics, rubbers and pharmaceuticals across the globe, especially in Asia Pacific is expected to pave a lucrative path for hexafluoropropylene manufacturers to establish new manufacturing facilities, expand sales network etc. to cater the growing need of the end-use industry as well as gain a significant market share during the forecast period.
However, fluctuations in raw material prices are expected to act as obstacles in the overall growth of the hexafluoropropylene market during the forecast period. In addition, it is considered as a hazardous chemical in North America and Europe, which is expected to restrain the market growth in these regions during the forecast period.
Hexafluoropropylene Market: Segmentation
By product type, the hexafluoropropylene market can be segmented as:
By application, the hexafluoropropylene market can be segmented as:
By end use, the hexafluoropropylene market can be segmented as:
Hexafluoropropylene Market: Regional Outlook
North America and Europe are expected to witness a surge in the demand for hexafluoropropylene during the forecast period, which can be attributed to the growing chemical and plastic industry in these regions. Asia Pacific is expected to witness significant growth during the forecast period, which can be attributed to the growing plastic, chemical, rubber and pharmaceutical industries in developing regions such as China and India, among others. Latin America and Middle East & Africa (MEA) is expected to witness slow to moderate growth during the forecast period due to a relatively low demand for hexafluoropropylene from various end use industries as compared to other regions. Moderate to healthy growth in the demand for hexafluoropropylene is expected across the globe due to the growing demand for firefighting chemicals and pharmaceuticals.
Hexafluoropropylene Market: Key Participants
Some of the key participants in the global hexafluoropropylene market are:
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