Increasing Number of Nuclear Projects and Expansion of Production Capacity to Augment Growth of Elemental Fluorine Market

 

Fluorine is an important element with the symbol F. It exists in a very inert, pale yellow liquid at normal conditions. Because of this inertness, fluoride is seldom used for industrial purposes, although in certain industries its use has been forbidden due to the risk of poisoning. Fluorine is one of the three known alkaline earth metals and the third of the six known heavy metals. Because of its corrosive action on hydrogen fluoride develops a fizz in exposed tissues, ozone layer, and cooking pans causing numerous health problems.

Fluorine has many significant contributions to science, medicine, and agriculture. Fluorine's major contributions to the world economy are in the areas of agriculture and pharmaceuticals. In chemistry, fluorine is one of the important neurotransmitters, which is involved in the transfer of information across nerve cell synapses.

Market Dynamics

Fluorine is a key element for electricity generation via nuclear energy. Thus, increasing number of nuclear projects is expected to propel growth of the elemental fluorine market. For instance, in July 2020, Nuclear Power Corporation of India Limited announced that the Unit-3 of Kakrapur Atomic Power Project, located at Kakrapur, Gujrat, achieved its first criticality.

Expansion of production capacity is expected to offer lucrative growth opportunities for players in the elemental fluorine market. For instance, in January 2020, Navin Fluorine International Limited announced commencement of commercial production at Dewas, Madhya Pradesh plant, India.

However, launch of fluorine-free textile is expected to hinder growth of the elemental fluorine market. For instance, in June 2020, Sunbrella, a developer of performance fabric for indoor & outdoor upholstery, awnings, shade, and marine applications, launched Sunbrella Assure, a fluorine-free textile that delivers water repellency, stain resistance and enhanced durability. Emergence of Covid-19 had led to suspension of manufacturing operations in various countries, thereby limiting the market growth.

Competitive Analysis

Major players operating in the global elemental fluorine market include, Solvay S.A., Linde AG, Air Products & Chemicals, Inc., Navin Fluorine International Limited, Kanto Denka Kogyo Co., Ltd., and Honeywell.

Major players operating in the global elemental fluorine market are focused on gaining contracts to enhance their market share. For instance, in February 2020, Navin Fluorine International Limited entered into a US$ 410 million contract with a global company for manufacture and supply of a high performance product in the fluorochemicals space. 

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