Fluorinated organic compounds are specialty chemicals often used as lubricants, coatings, and surfactants due to their unique properties such as oil and water repellence, temperature resistance, and chemical inertness. They find wide application in the automotive, aerospace, construction, pharmaceuticals, and semiconductors industries. The growing automotive and construction sectors in India have increased the demand for fluorinated compounds in coatings, lubricants and surfactants.
The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing automotive and construction industries have accelerated the demand for fluorinated organic compounds in India. According to Invest India, the construction industry in India is expected to reach US$ 1 trillion by 2030 with an average annual growth rate of around 15% driven by increased investment in infrastructure development and Government initiatives like 'Smart Cities' project. Lubricants, coatings and surfactants comprising fluorinated compounds improve properties like corrosion resistance, heat transfer and surface protection which are highly demanded in applications across automotive, construction, semiconductors and other industries. Rising consumption from end-use industries is the key trend driving growth of the India Fluorinated Organic Compounds Market over the forecast period.
Segment Analysis
The India Fluorinated Organic Compounds market is dominated by the food and beverages segment. Fluorinated organic compounds are widely used as refrigerants and foam blowing agents in food and beverages applications such as cold storage, refrigeration systems, and food transportation. The food and beverages segment accounted for over 35% of the total market share in 2023 owing to increasing demand for frozen and chilled food products as a result of changing consumer lifestyles and rising disposable incomes in India.
Key Takeaways
The India Fluorinated Organic Compounds Market Size is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
Regional analysis
The southern region was the largest market for fluorinated organic compounds in India in 2023 accounting for more than 30% of the total share. The growth in this region can be attributed to rapid industrialization and a strong presence of end-user industries such as food and beverages, pharmaceuticals, and chemicals. Moreover, states such as Kerala, Karnataka and Tamil Nadu are witnessing significant investments in manufacturing and infrastructure development offering lucrative opportunities for market players in the coming years.
Key players
Key players operating in the India Fluorinated Organic Compounds market are Cerner Corporation, Allscripts, Apple Inc, Telefonica S.A., McKesson Corporation, Epic Systems Corporation, QSI Management, LLC, AT&T, Vodafone Group, Airstrip Technologies, Google, Inc, Samsung Electronics Co. Ltd, HiMS, Orange, Qualcomm Technologies, Inc, Softserve, MQure, Computer Programs and Systems, Inc, Vocera Communications, IBM Corporation, CISCO Systems, Inc.
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