by The India Fluorinated Organic Compounds Market comprises compounds that contain fluorine in their molecular structure. These compounds are increasingly being used in refrigeration applications owing to their thermodynamic properties and zero ozone depletion potential. The refrigeration sector utilizes fluorinated organic compounds as refrigerants in refrigerators, air conditioners and heat pumps. The growing demand for refrigeration appliances from the expanding cold storage and food processing industries is driving the demand for fluorinated organic compounds in the country.
The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 163.5 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand from refrigeration applications is a key trend propelling the India Fluorinated Organic Compounds Market. Fluorinated organic compounds are extensively used as refrigerants in refrigeration and air conditioning systems due to their low toxicity, non-flammability, and zero ozone depletion potential. With rising incomes, greater availability of consumer credit, and growing urbanization, the sales of refrigerators, air conditioners, and other cooling appliances are increasing substantially in India. The expansion of the cold chain logistics sector to support food processing and food retail industries is also boosting the demand for commercial refrigeration units. This growing refrigeration market is presenting significant growth opportunities for manufacturers of fluorinated organic compounds in the country.
SWOT Analysis
Strength: India fluorinated organic compounds market has a strong domestic demand for refrigerants and fire-extinguishing agents. The rising production of chemicals and pharmaceuticals industries boosts the demand.
Weakness: High dependency on imports for some fluoropolymers from China and other countries. Volatility in raw material prices impact the cost of production.
Opportunity: Growing electronics and automotive sectors offer new growth opportunities. Increasing government investments in infrastructure projects augment the demand.
Threats: Stringent environmental regulations regarding refrigerants may impact certain product segments negatively. Economic slowdown can lower the overall demand.
Key Takeaways
The India Fluorinated Organic Compounds Market Size is expected to witness high growth over the forecast period owing to expanding end-use industries. The regional analysis comprises the fastest growing and dominating regions in the market.
Regional analysis: The southern region dominates India fluorinated organic compounds market currently due to presence of major chemical hubs and refrigerant producers. The northern and western regions exhibit high growth prospects on account of rapid industrialization and infrastructural activities.
Key players: Key players operating in the India fluorinated organic compounds market are Honeywell International Inc, Daikin Industries Ltd., Arkema, DAIKIN INDUSTRIES, Ltd., Mexichem, SRF Limited., Gujarat Fluorochemicals Ltd, The Chemours Company. They are focusing on capacity expansions and new product development to meet the rising demand from end-user industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
