USA: The value of the fluorochemicals industry, of which the manufacture of refrigerants is a major part, is expected to grow by 5% per year over the next five years.
Fluorochemicals, which include fluorocarbons, fluoropolymers and inorganics for use in such industries as refrigeration, aluminum production and as blowing agents was valued at $15.3bn in 2011 and is expected to rise to $21.5bn by 2018 - a growth of over 40%.
Increasing demand for aluminium, refrigerants, automobiles, and emerging economies of the Asia Pacific region are expected to drive the demand for fluorochemicals over the next five years.
Refrigerants accounted for 43% of total fluorochemical volume consumption in 2011. However, it is expected to experience slight decline in its market share due to regulatory constraints.
Asia Pacific dominated the global fluorochemical market with a share of 46% in 2011 and is expected to continue this domination through 2018 on the back of increasing global export and domestic consumption. China has the third largest fluorspar reserves in the world and was also the largest regional market for fluorochemicals.
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