July 14, 2024

The India Fluorinated Organic Compounds Market Is Driven By Rising Demand From Pharmaceutical And Agrochemical Industries

The India fluorinated organic compounds market plays a vital role in various applications such as refrigerants, pharmaceuticals, agrochemicals, and many others. Fluorinated organic compounds are carbon-based molecules that contain one or more fluorine atoms. These compounds offer unique properties like low surface tension, chemical and thermal stability. The demand for fluorinated compounds is increasing in the pharmaceutical industry due to its use as intermediates in active pharmaceutical ingredients manufacturing. They are also used as propellants in medical aerosols. Fluorinated compounds are increasingly employed as refrigerants and blowing agents in the foam industry. In the agrochemicals sector, they are utilized as fumigants and pesticides.

The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Traditional refrigerants like chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) have high ozone depletion potential. This has led to a push for alternatives like hydrofluorocarbons (HFCs), which have lower global warming potential. However, developing natural refrigerants like propane, ammonia, and CO2 is gaining traction due to stringent regulations. OEMs are investing in R&D to transition to refrigerants with minimal environmental impact. Another trend is the development of versatile fluorinated building blocks, which can facilitate the manufacturing of a diverse range of agrochemicals and pharmaceutical intermediates. This reduces production costs and improves process efficiencies for end-use industries.

Porter’s Analysis
Threat of new entrants: The India fluorinated organic compounds market has moderate threat from new entrants due to established customer base of existing players and high R&D and capital investment required for production.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and established supply chain of existing players.
Bargaining power of suppliers: Suppliers have high bargaining power due to niche production capabilities and intellectual property rights over technology and formulations.
Threat of new substitutes: Threat from substitutes is low as fluorinated organic compounds have advantages over regular organic compounds for special applications.
Competitive rivalry: The market is moderately competitive due to differentiation in product offerings by few major players.

Key Takeaways
The India Fluorinated Organic Compounds Market Size is expected to witness high growth over the forecast period. The global India Fluorinated Organic Compounds Market is estimated to be valued at US$ 28243.38 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.

Regional analysis: The western region dominates the market currently due to presence of major end use industries such as pharmaceuticals. The southern region is expected to grow the fastest owing to expansion of pharmaceutical companies in this region.

Key players: Key players operating in the India fluorinated organic compounds market are Cerner Corporation, Allscripts, Apple Inc, McKesson Corporation, Epic Systems Corporation, QSI Management, LLC, AT&T, Vodafone Group, Airstrip Technologies, Google, Inc, Samsung Electronics Co. Ltd, HiMS, Orange, Qualcomm Technologies, Inc, Softserve, MQure, Computer Programs and Systems, Inc, Vocera Communications, IBM Corporation, CISCO Systems, Inc.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it