Global Hydrofluoroether Market, By Product (Pure HFEs, HFE Blend, Co-Solvent System), Application (Cleaning Solvent, Refrigerant, Heat Transfer, Blowing Agents, Dry Etching Agents, Coating and lubricants), By Region -Estimation & Forecast till 2027 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Hydrofluoroether market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Hydrofluoroether market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Market Introduction
The global Hydrofluoroether market held a market size of USD 120.65 Million in 2020 and is expected to reach USD 204.34 Million by 2027. The hydrofluoroether market is anticipated to grow at a CAGR of 5.5% over the assessment period. The market size by volume for Hydrofluoroether was 6,470.7 Tons in 2020.
Hydrofluoroether (HFE) has attributes such as chemical inertness, non flammability, low toxicity, zero ozone depletion potential (ODP), and non-corrosiveness. HFEs are being utilized as third-generation replacements to hydrochlorofluorocarbons (HCFCs), chlorofluorocarbon (CFCs), and perfluorocarbons (PFCs) due to their relatively low global warming potential and nearly zero stratospheric ozone depletion. The demand for HFEs as cleaning solvent is anticipated to surge owing to the increasing requirement of precision cleaning processes in the medical, aerospace, military, and analytical equipment industries.
In addition, as authorities across the globe are passing guidelines on reducing the utilization of hydrofluorocarbons, hydrochlorofluorocarbon and chlorofluorocarbons, the demand for HFEs in heat transfer solutions, aerosol formulation, and lubricants is expected to increase at a considerable rate. For instance, in October 2016, with the leadership of the United States, an amendment to phase down HFCs under Montreal Protocol was adopted by 197 countries. The countries committed to cut the production and consumption of HFCs by more than 80% over the next 30 years, under this amendment. Further, as per the data published by the Ministry of Environment, Forest and Climate Change, in January 2020, India attained a complete phase out of hydrochlorofluorocarbon.
The surging use of HFE as electrolytes in lithium-ion batteries due to its attributes such as low freezing temperature, less viscosity and non-inflammability is expected to support the market growth. Further, the increasing adoption of electric vehicles which require lithium batteries for better performance is expected to provide favourable conditions for market growth as electric vehicle manufacturers are shifting to HFEs for developing high-energy density battery products.
Growth Influencers:
Increasing Recognition of Immersion Cooling Techniques
In recent years, the number of data centers globally has increased significantly. As per the data published by the Office of Energy Efficiency & Renewable Energy, in the U.S., there are nearly 3 million data centers. These data centers have tremendous costs such as cost of energy consumption, footprint, and water use. According to the U.S. Environmental Protection Agency (EPA), the data centers in the U.S. consume high amounts of electricity, about 2% of total energy consumption. In addition, much of the energy is consumed to run fans and chiller units to cool computer hardware.
For managing costs as well maintaining performance requirements, the data centers are increasingly using immersion cooling techniques. HFEs are being used significantly as a dielectric liquid in immersion cooling owing to their thermal conduction properties and non-inflammability.
Rapidly Superseding its Alternatives (Chlorofluorocarbons and Hydro Chlorofluorocarbons)
The properties of HFEs resemble that of Chlorofluorocarbons and Hydrochlorofluorocarbons. HFEs are being used in industrial cleaning applications. It has replaced solvents such as CFC-113 and n-propyl bromide. The emission of HFEs solvents is less as compared to its alternatives. HFEs have significantly lower global warming potential which supports their adoption. Further, the increasing prohibition on the use CFCS and HCFCS is also a key factor supporting market growth.
Lack of Standards and Regulations
Currently, no regulations or standards are governing HFEs emissions. However, as HFEs have low atmospheric life and few compounds in the category have considerably greater global warming potential than carbon dioxide, the growing usage of HFE can lead to global warming in the near future. This factor may negatively affect the growth of HFE market.
Segments Overview
The global hydrofluoroether market has been segmented into product and application.
By Product
• Pure HFEs
• HFE Blends
• Co-solvent system
The pure HFEs segment accounts for the largest market share of more than 80% based on product type. The co-solvent system is expected to be the fastest growing segment over the forecast period.
By Application
• Cleaning solvent
• Blowing agents
• Refrigerants
• Dry etching agents
• Coating and lubricants
• Heat transfer
• Others
The cleaning solvent segment holds the largest market share of more than 35% based on application. Hydrofluoroether is being widely used as cleaning solvents owing to its safety profile as it is non flammable and less toxic which helps in addressing workers’ safety. In addition, HFEs offers a superior environmental profile. Further, HFE is cost-effective which further supports its adoption.
The dry etching agents segment is anticipated to be the fastest-growing application segment over the assessment period.
Regional Overview
On the regional basis, the global hydrofluoroether market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America holds a major market share of about more than 30% in the global HFEs market. The factors such as the growing adoption of HFEs in several industries like electronics, the ban of CFCs and HCFCs, and the rising number of data centers are supporting the market growth in this region.
The Asia Pacific hydrofluoroether market is expected to be the fastest-growing market over the forecast period. The market growth in this region is attributed to the growing demand for lithium-ion batteries in Japan, South Korea, and China and the rapidly developing industrial sector. According to an article published by Forbes, China accounts for 73% of lithium cell manufacturing capacity globally. In addition, in recent years, the U.S. has increased imports of lithium cells from China.
Competitive Landscape
Prominent players in the global hydrofluoroether market include 3M, AGC Inc., Tianhe Chemical Group Limited, Shandong Huaxia Shenzhou New Material, Quanzhou SICONG New Material Development Co., Ltd, SANMING HEXAFLUO CHEMICALS CO., LTD, China Fluoro Technology Co., Ltd., and Guangzhou Jinhong Chemical Co., Ltd.
The top four players in the global hydrofluoroether market has cumulative market share of more than 80%. 3M is one of the prominent players in the market. 3M has products such as 3M Novec 71DE HFE fluid, 7100 Engineered Fluid, 72DE, among others.
The global hydrofluoroether market report offers insights on the below pointers:
1. Market Penetration: The research report provides comprehensive data on the market offered by the major players
2. Market Development: The report provides detailed analysis about emerging markets and examines penetration across mature segments of the markets
3. Market Diversification: The report offers detailed information about untapped geographies, recent developments, and investments
4. Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also emphasizes on the SWOT analysis of the leading players.
5. Product Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global hydrofluoroether market report answers questions such as:
1. What is the market size, market volume and forecast of the Global Hydrofluoroether Market?
2. What are the inhibiting factors and impact of COVID-19 on the Global Hydrofluoroether Market during the assessment period?
3. Which are the products/segments/applications to invest in over the assessment period in the Global Hydrofluoroether Market?
4. What are the technology trends and regulatory scenario in the Global Hydrofluoroether Market?
5. What strategies are considered favorable for entering the Global Hydrofluorether Market?
What is market research report?
Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research. The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process. The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage. Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more. These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry. Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
Browse market information, tables and figures extent in-depth TOC, The latest independent research document on various market development activities and business strategies such as new product/services development, Joint Ventures, partnerships, mergers and acquisitions, etc. In order to provide a more informed view, a market company profiles include Business Overview, Product / Service Offerings, SWOT Analysis, Segment & Total Revenue, Gross Margin and % Market Share. This report explores market definitions, overview, classification, segmentation, inclusive of market type and applications followed by product specifications, manufacturing initiatives, pricing structures, raw material sourcing and supply chain analysis.
About Data Collection and Research Methodology: Majorly data is collected via primary sources that includes interviews and survey with industry experts from core and related industries, and manufacturers and part suppliers involved in supply chain. Additionally, secondary sources are also utilized like annual reports, whitepapers, press releases etc.
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.
Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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The study objectives of this report are:
- To study and analyze the global market size (value & volume) by company, key regions/countries, products and application, history data, and forecast.
- To understand the structure of market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
The Study Explore COVID 19 Outbreak Impact Analysis
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
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Key Points Covered in Hydrofluoroether Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Hydrofluoroether market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Hydrofluoroether Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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