Perfluorocarbons Demand to Grow by 1.5x as Focus on Improving Diagnostic Imaging Rises

- Application in Semi-Conductor Cleaning to Contribute towards 45% of Global Perfluorocarbons Sales: Fact.MR

- Fact.MR's latest study examines critical trends impacting growth in the perfluorocarbons market through 2031. It offers analysis of scope for expansion of the market across major regions. It also studies the key factors facilitating the demand outlook in terms of product and application.

NEW YORK, Oct. 26, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per Fact.MR, the global perfluorocarbons market is expected to total US$ 1.4 Bn by the end of 2031. Increasing application of perfluorocarbons in cosmetics, electrical processing, medical use, and others sectors is favoring the market growth. On account of this, the market is estimated to surge at a CAGR of 4% over the forecast period from 2021 to 2031.

Perfluorocarbons (PFCs) have gained traction in the healthcare industry owing to their efficient synthetic oxygen-carrying attribute. The enhancement effects of perfluorocarbons are detectable by magnetic resonance, ultrasound, and computed tomography (CT).

Among various PFCs perfluoroctylbromide is often deployed as a CT contrast agent as CT to enhance blood pool, and as an ultrasound contrast agent to enhance tumors, spleen, liver, and infections. PFC therefore makes imaging highly effective to locate inflammatory cells. Driven by this, the sale of perfluorocarbons are projected to rise by 1.5x through 2031.

Besides this, rising trend of enhancing facial aesthetics is expected to propel the demand for anti-aging procedures, devices, products, and services. Perfluorocarbons are extensively used in the formulation of various cosmetic and skincare products.

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They allow the skin to breathe and regulate itself for a healthier skin and radiant complexion. Hence, increasing sales of the aforementioned products are expected to create remunerative opportunities for the market in the coming years.

As per Fact.MR, application of perfluorocarbons for semiconductor cleaning will improve the sales, accounting for nearly 45% through 2031. Surging applications for cleaning chemical vapor deposition chambers, film etching, and coolant for semiconductor manufacturing tools are facilitating the segment growth.

"Consumer preference for a skincare products promising younger-looking skin is spurring the applications of perfluorocarbons in the cosmetics industry. Their application for developing effective anti-allergic product formulations are expected to accelerate sales over the forthcoming decade," says a Fact.MR analyst.

Key Takeaways from the Perfluorocarbons Market Study

• The U.S. market is expected to witness the fastest growth in North America, expanding at a CAGR of 5% over the assessment period.
• Germany is projected to continue dominating the market in Europe, exhibiting growth at a CAGR of 6% through 2031.
• Favored by the rapidly expanding cosmetic industry in China, sales of perfluorocarbons are forecast to surge at over 5% CAGR through 2031.
• India is projected to emerge as a highly lucrative market in Asia, accounting for nearly 35% of the revenue share by 2031-end.
• On the basis of product, perfluoroalkane is estimated to register the highest growth in the segment, surging at 4% CAGR during the forecast period.

Key Drivers

• Technological advancements in diagnostic and medical imaging are encouraging introduction of perfluorocarbons-based screening, which is in turn, is expected to drive the sales across medical use application segment.
• Rising adoption of perfluoroalkane across electrical processing and tracers & taggers owing to excellent abrasion resistance and ability to stay dry despite water absorption is propelling the sales.

Key Restraints

• Side effects associated with the use of perfluorocarbons such as reflex vasoconstriction, decline in cardiac output, and increased blood pressure are likely to hamper the growth in the market  
• Increasing consumer inclination towards adopting plant-based and natural cosmetic and skincare products is hindering the sales of perfluorocarbons across the cosmetic industry.

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Competitive Landscape

Leading companies in the global market are extensively investing in the development and launches of novel products to expand their product portfolio and consumer base. Some of the player are aiming at entering into agreement, partnership, mergers, and acquisitions to increase their production capacity and sustain their dominance in the market. For instance,

• In December 2019, British Virgin Islands Company announced acquiring a France-based specialist in perfluorocarbons for vitreoretinal surgery company, Arcadophtha SARL. The acquisition will assist the company to broaden its outreach of its Vitreq line of vitreoretinal surgical products.

Some of the leading players in the market profiled by Fact.MR are:

• Solvay S.A
• AGC Inc.
• The Chemours Company
• 3M
• Fujian Yongjing Technology Co., Ltd.
• Pelchem SOC Ltd
• BVI
• Changshu 3F Zhonghao New Chemical Materials Co., Ltd.
• F2 Chemicals Ltd
• FluoroMed Specialty Chemicals

More Valuable Insights on Perfluorocarbons Market

Fact.MR, in its new report, offers a detailed analysis on the global perfluorocarbons market, analyzing forecast statistics for the assessment period 2021-2031. The study reveals growth projections in perfluorocarbons market with detailed segmentation:

• By Product
• Perfluoroalkane
• Alkyne
• Aromatics
• By Application
• Perfluorocarbons for Semiconductor Cleaning
• Perfluorocarbon Tracers & Taggers
• Perfluorocarbons for Cosmetics
• Perfluorocarbons for Electrical Processing
• Perfluorocarbons for Medical Use
• Others
• By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

 Key Questions Covered in the Perfluorocarbons Market Report 

• The market survey also highlights projected sales growth of the perfluorocarbons market between 2021 and 2031
• The report offers insight into perfluorocarbons demand outlook for 2021-2031
• Perfluorocarbons market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others 
• Perfluorocarbons market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry 

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