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| Global India Fluorinated Organic Compounds Market Growth |
Fluorinated organic compounds are carbon-based molecules containing one or more
fluorine atoms. These compounds are widely used in photovoltaic cells owing to
their ability to improve cell performance and stability. For instance, the use
of fluorinated polymers in solar cells improves photon absorption and boosts
conversion efficiency. Growing demand for renewable energy sources across the
country has increased the adoption of solar photovoltaic technology in recent
years.
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:
The increased adoption of photovoltaic cells has been a key driver accelerating
growth in the India fluorinated organic compounds market. Fluorinated polymers
have emerged as an effective route to improve the efficiency and stability of
organic solar cells. They serve as electron-accepting materials and help match
energy levels between donor and acceptor semiconductors. This enhances charge
separation and transport in photovoltaic devices. With India focused on
achieving its renewable energy targets, the use of solar technology is expected
to rise exponentially in the coming years. Moreover, ongoing research &
development in the field of organic electronics is expanding the application
scope of fluorinated compounds, thereby benefiting market expansion over the
forecast period.
Segment Analysis
The India fluorinated organic compounds market is dominated by the refrigerants
segment. This is because refrigerants find wide applications in air
conditioners, refrigeration systems and other cooling applications.
Refrigerants account for over 60% of the overall market share due to their
extensive use in a wide range of cooling applications.
Key Takeaways
Global
India Fluorinated Organic Compounds Market Growth is expected to witness high growth over the
forecast period of 2023 to 2030. 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 South region currently dominates the India fluorinated organic compounds
market with over 30% market share. This is because of the growing
refrigeration, air conditioning and automotive industries in this region.
Moreover, the hot and humid weather conditions fuel the demand for cooling
appliances. The South region is expected to remain the fastest growing region
over the coming years driven by rising disposable incomes, rapid urbanization,
and economic development.
Key players
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, CISCO Systems, Inc.
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