Fluorene Market Sales is expected to reach USD 1738.9 Million by 2034 Amid Rising Demand for Organic Light-emitting Diodes (OLEDs) | Future Market Insights, Inc.

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Jul 03, 2024, 10:01 ET

The increasing demand in the electrical & electronic industry for the fluorene throughout the globe is the key factor driving the growth of the fluorene market during the forecast period 2024-2034. The Fluorene is also identified as a 9H-fluorene, an organic compound with the formula (C6H4)2CH2.

NEWARK, Del, July 3, 2024 /PRNewswire/ -- The global fluorene market size is projected to be valued at USD 1161.1 million in 2024 and further increase at a CAGR of 4.1% during the forecast period. Worldwide sales of fluorene are set to total USD 1738.9 million by 2034.

Fluorene, a hydrocarbon used in pharmaceuticals, plastics, and agrichemicals, has been a key driver of market expansion, particularly during the COVID-19 pandemic. The chemical is also in high demand for the production of organic light-emitting diodes (OLEDs) and organic photovoltaic cells (OPVs) due to their excellent light emission properties and conductivity.

Emerging economies like India and China are experiencing a surging demand for fluorene-based products, with government policies supporting their production in developing nations. Manufacturers are exploring novel applications and hence developing fluorene derivatives with specific functionalities.

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The shift towards sustainable production has led to manufacturers developing eco-friendly production procedures for the purification and synthesis of fluorene. The compound, however, faces environmental concerns due to strict government regulations on fluorene production in developed countries.

It leads to increased compliance costs and limitations on specific production techniques. Rising environmental concerns are expected to create additional barriers in the market and minimize expansion, compelling manufacturers to invest heavily in eco-friendly production methods and abide by evolving environmental standards.

Key Takeaways from the Market Report

The global fluorene market is set to reach USD 1738.9 million by 2034, with a CAGR of 4.1% in the forecast period.
Based on product type, the high-purity fluorene segment accounted for a market share of 53.8% in 2024.
By application, pharmaceutical intermediates are leading with a market share of 31.5% in 2024.
India is anticipated to record a CAGR of 6.1% between 2024 and 2034.
Sales in China are predicted to rise at a CAGR of 4.6% through 2034.

"The electronics and pharmaceutical industries are experiencing rising demand for high-purity fluorene. Manufacturers are hence investigating to enhance the performance, characteristics, quality, and purity levels of fluorene," says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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Who is Winning?

Fluorene market players like GLPBIO Technology LLC, Santa Cruz Biotechnology, Inc., JFE Chemical Corporation, Alpha Chemika, Xiaoyi JinJing Chemical Co., Ltd., Alfa Aesar, Thermo Fisher Scientific, Hangzhou Longshine Bio-Tech Co., LTD, and Central Drug House are utilizing various strategies to maintain growth and stay competitive in the rapidly evolving industry. Product differentiation is crucial for improving performance characteristics, purity levels, and quality. It also helps increase productivity, reduce costs, and enhance product consistency.

Strategic alliances and collaborations are essential for accessing new sectors and advanced technologies. Manufacturers are partnering with universities, research centers, and companies to speed up product development and promote knowledge sharing.

Market expansion is necessary, and companies are recognizing opportunities in developing sectors with high demand for (C6H4)2CH2 products. Building robust distribution networks, creating tactical partnerships, and modifying marketing plans to account for regional markets are also essential.

Customer service and relationship excellence are crucial for brand recognition and standing out in the saturated industry. Companies must monitor competition activity and market developments to make informed decisions.

Industry Updates-

Navin Fluorene International, in October 2023, officially launched its CDMO division under the name of Navin Molecular to showcase the broad platform that Navin Molecular can offer in terms of geographical diversity and expertise in various complex chemistries.
An international research group, in April 2023, used the ultrasonic spray pyrolysis (USP) method to fabricate an antimony trisulfide PV cell having high conversion efficiency and remarkable average visible transmittance which has reportedly hit 4.9% efficiency with fluorene-based HTMs.

Country-wise insights of the fluorene industry

United States

Market Size and Growth: The US fluorene market is significant due to the presence of major chemical and pharmaceutical companies. Growth is driven by high demand in the production of intermediates for pharmaceuticals, agrochemicals, and high-performance polymers.
Key Players: Leading companies include BASF, Chevron Phillips Chemical, and Merck & Co.
Regulatory Environment: Stringent environmental regulations and policies on chemical manufacturing and disposal impact the industry.
Trends: Increasing investment in research and development for new applications and sustainable production processes.

Germany

Market Size and Growth: Germany has a robust chemical industry, with significant demand for fluorene in the production of specialty chemicals and pharmaceuticals.
Key Players: Key companies include Evonik Industries, Lanxess, and Bayer AG.
Regulatory Environment: The market is influenced by strict EU regulations on chemical safety and environmental protection.
Trends: Focus on sustainable production methods and increasing R&D investment in innovative applications.

Japan

Market Size and Growth: Japan's advanced technology sector drives demand for fluorene, particularly in electronics and optoelectronics.
Key Players: Prominent companies include Sumitomo Chemical, Mitsubishi Chemical, and Asahi Kasei.
Regulatory Environment: Compliance with stringent environmental and safety standards impacts market operations.
Trends: Growth in the OLED market and advancements in electronic materials boost demand for fluorene derivatives.

South Korea

Market Size and Growth: South Korea's thriving electronics and chemical industries contribute to the fluorene market growth.
Key Players: Leading companies include LG Chem, Samsung SDI, and SK Innovation.
Regulatory Environment: The market is influenced by national policies promoting technological innovation and environmental sustainability.
Trends: High demand for fluorene derivatives in OLED production and advanced materials for electronics.

United Kingdom

Market Size and Growth: The UK has a mature chemical industry with steady demand for fluorene in pharmaceuticals and specialty chemicals.
Key Players: Major companies include Johnson Matthey, Croda International, and Synthomer.
Regulatory Environment: Compliance with stringent EU and national regulations on chemical safety and environmental protection.
Trends: Focus on sustainable production and increasing investment in innovative applications for fluorene derivatives.

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Key Segments of Market Report

By Product Type:

Based on product type, the sector is divided into high-purity fluorene and technical-grade fluorene.

By Grade:

By grade, the sector is segmented into pharmaceutical grade and industrial grade.

By Application:

Fluorene has applications in pharmaceutical intermediates, polymers and plastics, agrochemicals, electronics (OLEDs), research and development, and others.

By Region:

North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and the Middle East and Africa.

Authored By

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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