Elemental Fluorine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Elemental Fluorine is the most electronegative and reactive elements among all. The element is widespread in earth’s crust comprising of 585 parts per million by weight. Additionally, it is also found in abundance in the solar system with 500 parts per million by weight. Its abundance makes way for its low cost availability for industrial production, and drives its commercial use. The pure forms of elemental fluorine can be acquired for as little as $190 per 100g. Elemental fluorine and its compounds for applications like processing nuclear fuel, manufacturing of Teflon, in toothpastes, light bulbs, and in air conditioning units. The global elemental fluorine market report highlights various challenges and growth drivers. The market is poised for a very interesting time period ahead as fluorine’s use in air-conditioning applications has been banned due to threat to ozone depletion. On the other hand, the chemical promises robust growth in nuclear fuel creation, as demand for energy continues to drive its application in nuclear power generation.
Researchers from University of Ribeirao Preto have discovered new alkaloid structure containing fluorine which promise a therapeutic potential in treating tumours. These new structures arising from two varieties of cat’s claw plant were harnessed as they contained spiro-oxindole alkaloids which are effective against the growth of tumours. This research promises a major breakthrough for players in the elemental fluorine market. It can present a direction for players as therapeutic treatments for cancer and tumour treatment have received positive reception by FDA in recent times. These in theory have been accepted as promising for its potential and are increasingly covered under reimbursement plans for cancer.
A new injection containing fluorine, Axumin promises to detect prostate cancer among patients. Prostate cancer is one of the most common cancer apart from skin cancer. The new technology will allow its detection with ease as fluorine contained amino acids promise to bind onto cancer cells and makes the cells visible on a CT scan. According to the researchers, the technology is useful even for very low levels of PSA during detection. The researchers were able to detect PSA levels under 0.3 during their preliminary findings. The technology promises pin-point the precise location of the prostate cancer. Its recent FDA approval promises robust growth for the elemental fluorine market during 2018-2028.
The global elemental fluorine market promises an uneasy and unconventional path to growth during 2018-2028 period. While there is an increasing scrutiny of fluorine-based products, their new applications in prostate cancer detection, and generation of nuclear energy continues to rise. Moreover, applications like nuclear energy creation will be highly concentrated in regions like Asia Pacific. According to International Energy Agency or the IEA, there will be $1.1 trillion investment in nuclear energy by 2040. The growth will lead to a 46% increase in nuclear power creation. Moreover, the rising output will largely be attributable to two main countries, India and China. These two countries will likely account for over 90% of its use by 2040. The rising demand for nuclear energy, heavy-reliance on energy, and horizons of electric vehicle will likely drive tremendous growth for the elemental fluorine market during 2018-2028.
The global elemental fluorine market report will cover all regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America will register robust growth as production of Teflon takes off for a wide applications in the automotive industry. Electric vehicles will likely drive demand for sliding, plates, seals, gaskets, and bushings. These new applications will drive robust demand in the North America regions, thanks to its lead in electrical vehicle infrastructure. The global fluorine market will also register considerable growth in Asia Pacific, thanks to new opportunities in energy generation, and booming other applications like toothpastes.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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