Fluorosurfactants Market - Forecast(2021 - 2026)

Fluorosurfactants market size is forecast to reach US$936.8 million by 2026, after growing at a CAGR of 7.1% during 2021-2026. Fluorosurfactants belongs to the class of coating additives which enhances the properties of formulations such as wetting, levelling, controlling foam, thermal stability and also offers low surface tensions in the coating systems. They are soluble and compatible with most of the polymers and remain active throughout the curing and drying process. Better performance of fluorosurfactants in these applications as compared to other surfactants and the use of short-chain fluorosurfactants in developed economies are driving the fluorosurfactants market globally. In addition, the growing use of fluorosurfactants as wetting & leveling agents drives the market for fluorosurfactants in this application. Furthermore, stringent regulations on VOC emissions by regulatory bodies, such as EPA (U.S.) and REACH (Europe), are driving the market for short-chain fluorosurfactants.

COVID-19 Impact

The emergence of COVID-19, had a noticeable impact on regional economic growth. According to the International Monetary Fund, the global GDP is declined by 3% in 2020. According to the World Trade Organization (WTO), global trade volumes declined between 13% and 32% in 2020 as a result of the economic impact of COVID-19. The ongoing COVID-19 pandemic hence impacted many end user industries globally. As a result of the scenario, several firms across regions had to shut down their production facilities and services as countries have adopted partial or absolute lockdown policies to deal with the pandemic. Companies throughout the world also halted or postponed large M&A ventures. In addition, the COVID-19 pandemic also affected crude oil prices, well-drilling and production activities, and the oil and gas supply chain. The decline in production activities further negatively affected the prices for fluorosurfactants the short to medium term.

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Report Coverage

The report: “Fluorosurfactants Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the fluorosurfactants Industry. 

By Type: Anionic, Cationic, Non-ionic, and Amphoteric 

By Application: Paint and Coatings, Industrial Cleaners, Waxes and Polishes, Adhesives, Oilfields, Electronics, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of the World (Middle East, Africa, and South America)

Key Takeaways

• North America dominates the fluorosurfactants market, owning to the high demand of fluorosurfactants from paints and coatings, adhesives sectors as well as the shale and offshore reserves existing in this region.
• Fluorosurfactants are excellent, non-toxic and non-bioaccumulative wetting and leveling agents for household and industrial cleaners, and thus are extensively utilized as cleaners, which is aiding its market growth.
• Rising investments in the construction sector, along with the growing electronics industry in various regions are driving the demand for fluorosurfactants.  As the use of fluorosurfactants in construction and electronics applications is increasing, the growth in these industries will support fluorosurfactants market growth.
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Fluorosurfactants Market Segment Analysis – By Type

The anionic surfactants segment held the largest share in the fluorosurfactants market in 2020 up to 65% by revenue and is estimated to grow at a CAGR of 6.4% during 2021-2026, due to their excellent wettability and permeability, and also provide better leveling. Anionic fluorosurfactants are widely preferred in coatings and specialty detergents, as they provide excellent cleaning and help achieve lower surface tension as compared to the other types. The growing demand for coatings is expected to increase the demand for anionic fluorosurfactants globally. Anionic surfactants are a negatively charged hydrophilic group and are used during the drilling process in the oil & gas industry. The growth of this commodity is also due to the increasing demand for crude oil and increased production of petroleum.

Fluorosurfactants Market Segment Analysis – By Application

The paints and coatings segment held the largest share in the fluorosurfactants market in 2020 and is forecasted to grow at a CAGR of 5.9% during 2021-2026. Fluorosurfactants are widely preferred in coatings due to their superior leveling and wetting properties in comparison to other surfactants. The growing demand for coatings is expected to increase the demand for fluorosurfactants globally. Fluorosurfactants are used in very low concentration to increase the wetting, leveling and oil repellency in applications such as adhesives, coatings, waxes, polishes, cleaners, and films. These applications drive the fluorosurfactants market globally. Stringent regulations over VOC emissions and the high cost of fluorosurfactants reportedly act as restraining factors for the growth of the fluorosurfactants market.

Fluorosurfactants Market Segment Analysis – By Geography 

North America held the largest share in the fluorosurfactants market in 2020 up to 34.7% by revenue.  The growing demand for oilfield surfactants is expected to increase the demand for fluorosurfactants in North America. The country has abundant oil resources both as shale formations and offshore production in Gulf of Mexico. 

The method of extraction from the oil reservoirs include fracking, horizontal drilling and multi-well pad drilling that require considerable usage of oilfield specialty chemicals as surfactants, emulsifiers, foaming agents and lubrications. According to global Energy yearbook statistics, In the year 2019, U.S was the largest crude oil producer in the world, producing about 745 megatonne. 

The oil production led by the shale boom will be dominant in U.S. in the next decade that will provide significant boost to the fluorosurfactants market in the country. Furthermore, new developments have contributed to the region's increase in productivity in 2019 in the Offshore Federal Gulf of Mexico (the U.S. protected waters in the Gulf of Mexico). Seven new ventures were introduced online by oil and natural gas companies in 2019, and EIA estimates that nine more will be launched in 2020. The crude oil output of the Offshore Federal Gulf of Mexico increased by 126,000 b/d in 2019, resulting in the area's highest annual total production of 1.88 million b/d. The growing production and development in oil field tends to increase the drilling activity. In order to reduce the friction while drilling, the demand of fluorosurfactants is also increasing, which is leading to fluorosurfactants market growth in North American region.

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