by Fluorinated organic compounds find wide applications in various end-use industries such as pharmaceutical, medical devices, automotive and construction. In pharmaceuticals, they are used as active ingredients in many drugs and medicines owing to their non-flammable and non-corrosive properties. In medical devices, they are utilized as lubricants and sealants due to their excellent thermal and chemical resistance. Growing pharmaceutical and medical devices sector in India is fueling the demand for fluorinated organic compounds.
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:
As per recent estimates, the Indian pharmaceutical market is projected to reach US$ 130 billion by 2030 from US$ 42 billion in 2021, growing at a CAGR of 14-17%. Further, the medical devices market in India is also growing at a robust rate of over 15% annually and is expected to reach US$ 25 billion by 2025. Fluorinated organic compounds finds wide applications as active pharmaceutical ingredients and lubricants in medical devices manufacturing. Hence, rapid growth of these end-use industries is creating significant demand for fluorinated organic compounds in the country.
SWOT Analysis
Strength: The India Fluorinated Organic Compounds market is witnessing strong growth due to rising demand from end-use industries such as chemical, pharmaceutical, and automotive.
Weakness: Stringent regulations regarding the use of fluorinated organic compounds can restrict market growth. Lack of awareness among consumers also acts as a weakness.
Opportunity: Increasing applications of fluoroelastomers, fluoropolymers, and fluorosurfactants across industries offer growth opportunities. Rising investments in the pharmaceutical sector creates demand.
Threats: Volatility in raw material prices and availability are major threats. Growing environmental concerns related to fluorinated organic compounds also pose challenges.
Key Takeaways
The India Fluorinated Organic Compounds Market Size is expected to witness high growth due to rising applications across end-use industries in the country. 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 shows that Western and Southern regions are currently dominating the market owing to the presence of major chemical and pharmaceutical manufacturing hubs. The market is estimated to reach US$ 51,386.47 Mn by 2030, expanding at a CAGR of 10%.
Key players operating in the India Fluorinated Organic Compounds market are Cerner Corporation, Allscripts, Apple Inc, Telefonica S.A., 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, and 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
