Elemental Fluorine Market Size (2023-2030)

The Global Elemental Fluorine Market was estimated to be worth USD 543 Million in 2022 and is anticipated to reach a value of USD 1106.02 Million by 2030, growing at a fast CAGR of 9.3% during the forecast period 2023-2030.

Elemental fluorine is a highly reactive chemical and electromagnetic element that easily reacts with all other elements such as noble gases. The extreme reactivity of fluorine makes it dangerous and difficult to handle and can cause severe burns, if not handled properly. Despite the hazardous nature of fluorine, it is widely used in industries for the production of fluorinated compounds such as hydrofluoric acid, and uranium hexafluoride, which is used in the nuclear industry. Furthermore, fluorine is widely used in the production of pharmaceutical compounds as it can improve the drug’s properties, increases metabolic stability, and enhances target selectivity. In addition, they are also used in the dental industry for producing toothpaste, mouthwash, and fluoride treatment materials as it helps to prevent tooth decay by strengthening tooth enamel and reducing bacteria growth. Moreover, growing demand from the pharmaceutical and chemical industry has bolstered the demand for elemental fluorine in the market.

Global Elemental Fluorine Market Drivers:

Technological advancements in various industries boost the demand for elemental fluorine in the market.

Technological advancements in various industries driven by the development of new products, materials, and manufacturing processes have increased the demand for elemental fluorine in the market.  Due to the increasing demand for faster, compact, and more efficient electronic devices, there is an increased demand for elemental fluorine in manufacturing semiconductors such as for plasma etching, cleaning, and deposition. In addition, the rising demand for greener technologies such as renewable energy systems has increased the demand for fluorine-containing compounds. Moreover, these compounds are used in battery materials such as lithium hexafluorophosphate used in lithium-ion batteries in electric vehicles. Furthermore, fluoropolymers derived from elemental fluorine are used in coatings, gaskets, seals, and others as demand for advanced resistant materials increases. Apart from this, recent trends in nanotechnology have increased the usage of fluorine for synthesising fluorinated nanoparticles and in the functionalization of surfaces for improved performance.

Increasing demand for fluorine in wastewater treatment has boosted the demand for elemental fluorine in the market.

Fluoride compounds derived from elemental fluorine are used to treat wastewater. These include aluminium fluoride and sodium fluoride which are used in the wastewater treatment process and filter the water for drinking purposes. Moreover. Elemental fluorine is used as a pH adjustment agent in wastewater treatment that helps to either lower or raise the pH level of wastewater and optimize it for future use. In addition, it helps to break down toxic materials and pollutants from the wastewater, improves the quality of water, and ensures clean and safe drinking water sources.

Global Elemental Fluorine Market Challenges:

Improper handling of elemental fluorine can deter its market growth. Elemental fluorine is highly reactive and can result in safety risks as it is corrosive and toxic in nature. Therefore, specialized handling, transportation, and storage are required to reduce upfront damage costs and ensure the occupational safety of workers.

Furthermore, sourcing reliable and sustainable raw materials for producing elemental fluorine can decline its market growth as it is highly reliable on raw materials.

Global Elemental Fluorine Market Opportunities:

The Global Elemental Fluorine Market is anticipated to deliver lucrative opportunities for businesses, which include acquisitions, partnerships, collaborations, product launches and agreements during the forecasted period. Furthermore, the rising demand for fluorine in chemical industries for producing and manufacturing various chemicals and compounds is predicted to develop the market for Elemental Fluorines and enhance its future growth opportunities.

COVID-19 Impact on the Global Elemental Fluorine Market:

The pandemic had a significant impact on the elemental fluorine market. Due to the closure of major industries such as automobile, electronics, chemical, aerospace, and construction, there was a decline in demand for fluorine-based products during the pandemic. However, it witnessed an increased demand from the health industry for PPE equipment, masks, gowns, gloves, and other materials that were protected from pathogens during the pandemic. Additionally, fluoropolymer coatings were used on medical device surfaces to enhance their lubricity, reduce friction, and provide resistance to microbial.

Global Elemental Fluorine Market Recent Developments:

In July 2022, Navin Fluorine started its production of Honeywell’s Solstice zd – a hydrofluoroolefin in Delhi, India. The material can be used as refrigeration liquid for chillers, blowing agents for foam insulation, and solvents. The company aimed to improve energy efficiency and lower carbon footprint.

ELEMENTAL FLUORINE MARKET REPORT COVERAGE:

Global Elemental Fluorine Market Segmentation: By Product Type

• Elemental Fluorine Gas

• Fluorine Compounds

Based on market segmentation by product type, fluorine compounds occupy the highest share of the market. These compounds are derived from elemental fluorine and are used in various industries. For instance, hydrofluoric acid, produced from elemental fluorine is used in glass etching, petroleum refining, and metal cleaning. Further, due to their properties such as high thermal stability, chemical inertness, and low surface energy, fluorocarbons such as CFCs, HCFCs, HFCs and PFCs are used in air conditioning, aerosol propellants, refrigeration, and foam-blowing agents. In addition, increased demand for fluoropolymers due to properties like high chemical resistance, low-friction, and non-stick properties, they are used in chemical processing, medical, electrical, and automotive industries where high-performance materials are required.

The elemental fluorine gas segment is the fastest-growing segment during the forecast period. Elemental fluorine gas is a pure form of fluorine that is highly reactive and is used as a raw material to produce various fluorine compounds that can be used in various industries such as pharmaceuticals and chemical industries.

Global Elemental Fluorine Market Segmentation: By End-Use Industry

• Pharmaceuticals

• Automotive

• Chemical

• Electronics

• Others

Based on market segmentation by the end-use industry, the pharmaceuticals segment occupies the highest share in the market. Elemental fluorine plays a crucial role in the pharmaceutical industry as it helps in enhancing drug stability. Moreover, fluorine-carbon bonds, derived from elemental fluorine provide long-shelf life to drugs as they are strong and resistant to metabolic degradation and provide protection against enzymatic breakdown. In addition, they help to improve the bioavailability of drugs, which is the extent and rate drug that is absorbed into the bloodstream and reached the target site in the body. Additionally, fluorine can reduce the side effects of some drugs and enhance the therapeutic activity, which makes it a suitable option to be used in pharmaceutical drugs. Moreover, fluorine 18, which is a radioactive isotope of fluorine, is increasingly used in PET (Positron Emission Tomography) for diagnostic and monitoring purposes such as in cancer diagnosis, cardiovascular disease assessment, neurological studies, and others.

The chemical segment is the fastest-growing segment during the forecast period. Elemental fluorine is extensively used in the chemical industry for the production of various chemicals such as hydrofluoric acid, chlorofluorocarbons, and hydrochlorofluorocarbons. Moreover, elemental fluorine is also used in the production of speciality chemicals such as fluorochemicals used in lubricants, coatings, sealants, and others that enhance the performance and durability of various materials. In addition to that, fluorinated surfactants are used in the manufacturing of paints, cleaning agents, and water-proofing materials due to their chemical stability. Further, fluorinated solvents are widely used in industrial cleaning processes due to properties like low surface tension and chemical ability.

Global Elemental Fluorine Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East and Africa

• South America

Based on market segmentation by region, Asia-Pacific dominates the market. The increase in demand for elemental fluorine and its compounds in chemical industries has boosted the market growth for elemental fluorine. Compounds of elemental fluorine such as hydrofluoric acid, fluoropolymers, fluorinated solvents, and others are widely used in the production and manufacturing of speciality chemicals and petrochemicals.

North America is the fastest-growing region during the forecast period. Due to the well-established automotive industry, there is an increase in demand for elemental fluorine in the region. These are used in automotive applications in fuel systems, fuel hoses, seals, and gaskets due to their excellent properties such as high chemical resistance, fuel permeation, temperature resistance, and thermal stability. Further, the rising adoption of electric vehicles has increased the usage of fluorine in lithium-ion batteries in the region, which helps to stabilize the electrolyte in batteries. Further, The US Department of Energy (DOE) is funding a large research consortium – Battery500 for producing lithium-metal batteries, allowing car manufacturers to build lighter electric cars and increase the capacity to drive long distances. Moreover, this study was supported by Stanford and SLAC.

Global Elemental Fluorine Market Key Players:

1. Air Products & Chemicals

2. Kanto Denka Kogyo

3. Solvay S.A

4. Navin Fluorine International Ltd

5. Linde AG

6. Sinochem

7. Yingpeng Chemical

8. F2 Chemicals Ltd