The global hydrofluoroether market generated a revenue of US$ 126.55 million in 2021 and is anticipated to reach UD$ 204.3 million by 2027, growing at a compound annual growth rate of 8.3% from 2022 to 2027. On the basis of volume, the global hydrofluoroether market is expected to reach 10,705.3 Tons by the end of the year 2027, at a CAGR of 8%. The market growth over the forecast period reflects the recovery of the industry from Covid-19 and the subsequent growth trend. The research report offers analysis explained across 13 chapters totaling 147 pages, with 40 extensive data tables and 53 figures.
Hydrofluoroethers are any group of ethers that has both alkyl and fluorinated alkyl substituents. They were originally designed as a non-ozone-depleting alternative to CFCs, HFCs, HCFCs, and PFCs. Colorless, odorless, and tasteless, the chemical has minimal toxicity, low viscosity, and are liquid at room temperature. Hydrofluoroether was first developed by 3M company, however, they are now being produced by various companies. The report on the global hydrofluoroether market provides a comprehensive analysis of market opportunities, market dynamics, and the competitive landscape of the industry. The global hydrofluoroether market is analyzed for the period of 2017 to 2027, wherein 2017-2020 are historic years, 2021 is considered as the base year, and 2022-2027 is the forecast period.
This solvent is used in various industrial applications including cleaning agents, vapor degreasing solvent, refrigerant, and heat-transfer fluid. Alternatives to CFCs and aqueous cleaning techniques must strike the optimum combination of safety, environmental, and performance characteristics. Low-cost solvents may contain hidden costs that cancel out the initial low cost of the raw ingredient. These three features are well-balanced in hydrofluoroether. HFE-based cleaning solutions serve to solve worker safety and environmental concerns while providing equivalent performance to CFCs. Solvents, particularly chlorofluorocarbons (CFCs), were the cleaning medium of choice in several industries in the early 1980s. Environmental controls on CFCs were strengthened due to their high ozone depletion potential (ODP), resulting in their phaseout in the mid-1990s. No other solvents could match the qualities of CFCs at the time, thus the industry switched to aqueous cleaning. Manufacturers are looking at alternatives to aqueous cleaning to tackle concerns with cleaning performance, drying, and corrosion as component complexity and sensitivity rise along with areal density. It's crucial to discover the perfect combination of properties while analyzing the new generation of solvents. Hydrofluoroether is a new type of solvent. Hydrofluoroether is similar to CFCs in terms of safety and performance, but they have a better environmental impact.
Due to various negative impacts of hydrofluoroether on the ozone layer and significant contribution to global warming, intensifying international cooperation that demands a substantial reduction and eventual replacement of chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs) is causing a surge in demand for hydrofluoroether in a variety of industries. The increasing demand for HFE is also attributed to the solvent’s safety properties. Alternative solvents have a lower safety profile than hydrofluoroether. Lower equipment costs are a practical benefit of solvents with a strong safety profile. Hydrofluoroether cleaning methods do not require the equipment safety add-ons that other solvents demand, such as explosion proofing, extinguishing apparatus, and an inert environment. Hydrofluoroether has low toxicity, which implies there are more safety margins in the event of a spill.
The research report provides an exhaustive analysis of the market opportunities in the global hydrofluoroether market. Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa to track growth opportunities. The research report identifies that in terms of revenue, North America accounted for more than 40% of the global hydrofluoroether market in 2020. The region's leadership is owing to a surge in demand for HFE in electronics industry cleaning products, such as digital washing devices and cloud computing facilities in North America. Because of the high demand for cloud computing technology in the country for the purpose of storing, managing, and processing data, the US in North America will expand at the highest compound annual growth rate throughout the projected period. Cloud computing provides access to a wide range of technologies while lowering entrance barriers such as a lack of technical ability or a financial barrier.
The research report includes global HFE market analysis on the basis of the following variables – product and application. It will help the individuals or businesses associated with the hydrofluoroether market to identify the right market for their products. It offers a comprehensive textual and graphical analysis of dominating particulars for each segment.
The study includes an easy-to-understand value chain analysis, global and regional opportunities, and market dynamics. It also illustrates how to use Porter's five forces analysis to assess the impact of a variety of factors on the global hydrofluoroether market, including supplier bargaining power, competitor competitive intensity, the threat of new entrants, the threat of substitutes, and buyer bargaining power. To examine the key factors like political, economic, social, technological, legal, and environmental affecting the market, the report includes a section dedicated to a PESTLE analysis. Following the high-level analysis section, the report includes the Covid-19 impact study and a comprehensive chapter of company profiles.
The global hydrofluoroether market has been adversely impacted by the spread of the novel coronavirus. End-users of HFE have faced many issues as a result of the pandemic, including a drop in demand for electronics, automobiles, and other products. Furthermore, the supply chain for hydrofluoroether was disrupted, owing to a lockdown in some nations and governmental regulations governing the transfer of commodities across borders. The report includes covid-19 impact study at four levels including pre-covid (2017-2019), Short Term (2020-21), Mid Term (2022-24), and Long Term (2025-27).
With the increased recognition of immersion cooling techniques, the market has seen remarkable growth. Organizations can better prepare for the tremendous performance needs of the future while managing costs and impacts on current natural resources by switching data centers from traditional cooling methods to immersion cooling employing liquids such as HFE. Also, Hydrofluoroether is also low-maintenance and provides consistent performance. It has a high resistivity and won't harm electronic equipment or integrated circuits if a leak or other malfunction occurs. However, because of the lack of standardization and ineffective regulation surrounding the usage of HFE, customers may opt for other chemical compounds with similar qualities but more favorable rules. During the forecast period, this is projected to hinder the global HFE market's expansion.
The competition landscape section of the report offers an in-depth analysis of key players active in the global hydrofluoroether market via primary as well as secondary research that covers descriptive profiles of eight prominent players and the list can be customized as per the reader’s research requirements. Details covered for these players include – Business Description, Product Portfolio, Company Financials and Claims, Key Details, Strategy Outlook, and Recent Developments. The players profiled in the research report include are – 3M Company, 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.
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This report provides analysis of the global hydrofluoroether market for the period of 2017 to 2027, wherein 2021-2027 are forecast values, reflecting impact of different factors on the growth trend.
The hydrofluoroether market is growing at a CAGR of 8.3% over the forecast period 2021-2027.
When compared to related chemicals such as saturated fluorocarbons and ethers, HFEs, also known as volatile organics, have exceptionally attractive features, particularly high volatility and hydrophobicity. It signifies that their emissions are more likely to end up in the atmosphere. Global warming, photochemical potential, flammability, and partition coefficient are all examples of environmental risks
The existing hydrofluoroether regulations are described by SNAP program, American Industrial Hygiene Association (AIHA) and Environmental Protection Agency.
Organizations can better prepare for the tremendous performance needs of the future while managing costs and impacts on current natural resources by switching network infrastructure from traditional cooling methods to immersion cooling employing liquids such as hydrofluoroether. These are low-maintenance solvents and deliver consistent results.
Due to the lack of standardization and ineffective regulation surrounding the usage of hydrofluoroether, customers may opt for other chemical compounds with similar qualities but more favorable rules.
Asia Pacific is growing at the highest CAGR of about 10.0% over 2021- 2027.
The global hydrofluoroether market is seen as competitive, but it is expected to consolidate over the forecast period.
The report covers the following segments: product, applications and region.
The cleaning solvent segment contributed the major share of 39.3% in the global hydrofluoroether market in 2020 because of its chemical inertness, non-corrosiveness, high resistivity, good material compatibility, and low toxicity, firms are increasingly adopting hydrofluoroethers for cleaning semi-conductors and IC components.
3M, AGC Inc, Tianhe Chemical Group and others are the major companies operating in the hydrofluoroether market.
The key strategies adopted by market players include: Mergers and acquisitions, partnerships, regional expansion, and new product development.
The global hydrofluoroether industry has been severely impacted by the spread of COVID-19. End-users of hydrofluoroether have faced a number of issues as a result of the pandemic, including a decrease in demand for electronics, automobiles, and other products. Furthermore, market participants experienced disruption in the hydrofluoroether supply chain, which was accompanied by a lockdown in a number of locations.
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