Elemental Fluorine Market to Surpass US$ 1,418.4 Mn By 2028

The Global Elemental Fluorine Market was valued at US$ 800.7 million in 2020, according to Elemental Fluorine Market Report, by Application (Metallurgy, Glass & Ceramics Manufacturing, Sulphur Hexafluoride & Halogen Fluoride, Electronics & Semiconductor, Polymer Manufacturing & Processing, Nuclear Fuel, and Others), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East & Africa), published by Coherent Market Insights.

The Global Elemental Fluorine Market was valued at US$ 800.7 million in terms of revenue in 2020 and is predicted to grow at a CAGR of 7.1% during the forecast period (2021 to 2028). Elemental fluorine is a highly reactive chemical available on earth. It is extremely toxic and corrosive and can be react with various organic and inorganic products. It is produced by the process of electrolysis of potassium fluoride and hydrogen fluoride. It is majorly used in the production of fluorides such as uranium hexafluoride, halogen fluorides, and sulfur hexafluoride.

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Browse 50 market data tables* and 45 figures* on “Elemental Fluorine Market” - Global Forecast to 2028.

Key Trends and Analysis of the Global Elemental Fluorine Market:

The growing trend of the on-site production of pure fluorine gas as it is cost-effective is projected to foster the market growth of the elemental fluorine. On-site production offers numerous benefits such as improved productivity, reliable supply, and safe process of high-purity fluorine. Moreover, it also eliminates the large volume, high-pressure storage facilities. For instance, Solvay and Linde AG prefer on-site production of pure fluorine gas, in order to reduce the overall production cost.
The growing adoption of the elemental fluorine in the metallurgy application where it is used to create a cleaning agent or flux is one of the growing trends in the market. It is used to clean the surface of the metal and is the best anti-oxidants available in the market. For these various metal, industries are using elemental fluorine to clean their product. Hence, the growing adoption of the fluorine in various metallurgical processes is projected to foster the market growth of the elemental fluorine.

Market Opportunities

The rapidly growing glass industry in China is projected to bring new market opportunities over the forecast period. Growth in the glass industry is driving demand for fluorine gas in China as China is a key producer of the producer as well as consumer of glass. For instance, China produces approximately half of the total production of flat glass all over the world. According to the Coherent Market Insights analysis, China in the global glass industry is expected to grow with an approximate CAGR of 8.0% in the upcoming years.

Global Elemental Fluorine Market: Recent Developments

In January 2021, Solvay has partnered with Biesterfeld and Albis to extend the reach of distribution of its Solef PVDF, a fluorine based specialty polymers in the European region (excluding Italy).
In November 2019, Solvay is strengthening its position in market by doubling the capacity of its fluorine based specialty polymers, SOLEF PVDF production unit in Changshu, China.
In January 2021, at the 10th China Charity Festival award ceremony held in Shanghai on January 28-29, Air Products received the 2020 Best Social Responsibility Brand Award.

Market Restraints

Elemental fluorine is hazardous to handle and transport as it is the most electronegative element of the periodic table. Handling and transportation of the fluorine require safety precautions that need to be followed carefully. Hence, handling and transportation challenges associated with the product are expected to inhibit the market growth of the elemental fluorine over the forecast period.

Key Takeaways

The Global Elemental Fluorine Market was valued at US$ 800.7 Mn in 2020 and is forecast to reach a value of US$ 1,418.4 Mn by 2028 at a CAGR of 7.1% between 2021 and 2028.
The Sulphur Hexafluoride & Halogen Fluoride segment was valued US$ 126.5 Mn in 2020 and is expected to witness a CAGR of 7.1% over the forecast period.

Key Players

Major players operating in the global Elemental Fluorine include, Solvay S.A., Kanto Denka Kogyo Co., Ltd., Air Products and Chemicals, Inc., Linde AG, Navin Fluorine International Limited, ADVANCE RESEARCH CHEMICALS. INC., and Pelchem SOC Ltd.
These players are constantly engaged in mergers, acquisitions and investments to gain competitive advantage over other players. For instance, In July 2018, The Linde Group invested in the expansion of fluorine-nitrogen mixtures at oregon site to meet the growing needs of sub-10-nm semiconductor factories and advanced flat panel manufacturers

Global Elemental Fluorine Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on elemental fluorine market.

Market Taxonomy

By Application