Global Fluoroelastomers Market

Fluoroelastomers Market by Types (Fluorocarbon Elastomers, Perfluorocarbon Elastomers, Fluorosilicone Elastomers, and Others), Applications (Diaphragms, O-rings, Seals & Sealants, Valves, and Others), End-user Industries (Industrial, Aerospace, Automotive, Oil & Gas, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: MC-3754
  • Author: Growth Market Reports
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  • No. Of Pages: 212
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The global fluoroelastomers market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand from end-user industries for wide range applications and rising usage in sealing processes.

Global Fluoroelastomers Market summary

Fluoroelastomer is a fluorocarbon-based synthetic rubber, also known as fluorocarbon compound. The fluoroelastomers are used in a wide variety of high performance applications in aerospace and automotive industries. The fluoroelastomers are considered to be a vital polymer owing to its long term reliability and minimum change to the environmental conditions. Therefore, the fluoroelastomers are specifically designed to be highly resistant to elevated temperatures and aggressive chemical changes. Fluoroelastomers have great compression, sunlight & ozone resistance. The fluoroelastomers have wide range of applications due to its low gas absorption rate. The performance of fluoroelastomers in aggressive chemicals depends on the compounding ingredients and nature of the base polymer. The performance can vary significantly due to varying quantity and quality of rubber used in the polymer. Fluoroelastomers are highly compatible with hydrocarbons, but incompatible with ketones. In automotive industry the fluoroelastomers are widely used to reduce emissions, increase fuel efficiency, eliminate fluid leaks, and improve the efficiency of their systems. The fluoroelastomers are used in chemical plants for sealing materials with above average fluid resistance and long-term operability. The oil & gas industries utilize the fluoroelastomers for manufacturing equipment used in drilling processes. The fluoroelastomers are also used in production of consumer goods and wearables that are soft, flexible, non-reactive. In aerospace industry the fluoroelastomers are use for applications associated with high operating temperatures and high altitudes that require superior heat resistance and low-temperature performance.

The COVID-19 pandemic had a dramatic impact on the dynamics of various industries including automotive and aerospace industry. The outbreak had negatively affected the growth and expansion of the fluoroelastomers market. The pandemic situation had witnessed the stringent regulations and worldwide lockdowns. The pandemic situation resulted into the consequent disruption in supply-chain, production, transportation, and research & development activities. Therefore, automotive and aerospace industries struggled with the generation of revenues. Several manufacturing companies were temporarily shut down. The aircraft manufacturers reduced the production rates, which further affected the OEMs that use fluoroelastomers as raw material.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing demand from automotive and aerospace industry is the key factor anticipated to fuel the growth of the market during the forecast period.
  • Increasing demand for more fuel-efficient vehicles and rising adoption of advanced air management system are projected to spur the market growth in the coming years.
  • Novel applications of per fluorocarbon elastomers and stringent emission norms are propelling the market expansion during the projected timeline.
  • High price of fluoroelastomers, hazardous working conditions, and rising environmental concerns are anticipated to hamper the market growth in the coming years.
  • Increasing industrial investments and growing applications of fluoroelastomers are expected to offer immense opportunities for the market players in the long run.

Scope of the Report

The report on the global fluoroelastomers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Fluoroelastomers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Fluorocarbon Elastomers, Perfluorocarbon Elastomers, Fluorosilicone Elastomers, and Others), Applications (Diaphragms, O-rings, Seals & Sealants, Valves, and Others), End-user Industries (Industrial, Aerospace, Automotive, Oil & Gas, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

The Chemours Company; DAIKIN INDUSTRIES, Ltd.; 3M; Asahi Glass Co., Ltd.; and Solvay

Fluoroelastomers Market Segment Insights

Fluorocarbon elastomers segment is anticipated to register at a substantial CAGR

On the basis of types, the market is segregated into fluorocarbon elastomers, perfluorocarbon elastomers, fluorosilicone elastomers, and others. The fluorocarbon elastomers segment is anticipated to register at a substantial CAGR during the projected period owing to its usage in the production of components that can be used in an extreme environmental conditions and cheaper cost. Moreover, the excellent resistance to a broad range of chemicals, such as hydraulic fluids, oil, gasoline, bases, hydrocarbon solvents, and acids is anticipating the growth of the market segment in the coming years. However, the fluorosilicone elastomers segment is expected to register at a rapid pace during the forecast period owing to the rising product innovation, technological breakthroughs, rising investments in research & development activities, and effective allocation of resources.

Global Fluoroelastomers Market types

O-rings, seals & sealants segment is projected to hold a significant market share

Based on applications, the market is segmented into diaphragms, O-rings, seals & sealants, valves, and others. The O-rings, seals & sealants segment is projected to hold a significant market share during the forecast period due to the growing demand from aircraft and aerospace seals in engines and fuel handling systems. On the other hand, the diaphragms segment is anticipated to expand at a considerable pace owing to the growing demand from industries for water treatment. Moreover, fine quality, easy operation, and light weight of diaphragm pumps is expected to grow the market segment during the forecast period.

Global Fluoroelastomers Market application

Automotive segment is expected to constitute a major market share

On the basis of end-user industries, the market is categorized as industrial, aerospace, automotive, oil & gas, and others. The automotive segment is expected to constitute a major market share during the forecast period due to the increasing adoption of fluoroelastomers for manufacture vehicle components that are used in drive trains and fuel handling systems. Moreover, the significant reduction in emission and increased fuel efficiency associated with the usage of fluoroelastomers are projected to expand the market segment in the coming years. However, the aerospace segment is projected to account for a key market share owing to the increasing applications of fluoroelastomers in aerospace industry due to excellent fuel and heat resistance.

Global Fluoroelastomers Market end-users

Asia Pacific market is anticipated to dominate the market

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period owing to the increasing manufacturer of combustion vehicles on commercial basis. Moreover, the region is expected to continue its dominance in the market due to the growing production of EVs in developing nations.  Furthermore, the increasing technological advancements in aviation sector, easy access to the industrial goods, and growing manufacturing of automobiles are anticipated to propel the growth of the market in the coming years. On the other hand, the market in North America is expected to grow at a significant rate during the forecast period due to the stringent fuel emission regulations and consequent increasing demand from aerospace & automotive industries.

Global Fluoroelastomers Market region

Segments

Segment Covered in the report
The global fluoroelastomers market has been segmented on the basis of
Types

  • Fluorocarbon Elastomers
  • Perfluorocarbon Elastomers
  • Fluorosilicone Elastomers
  • Others

Applications

  • Diaphragms
  • O-rings, Seals & Sealants
  • Valves
  • Others

End-user Industries

  • Industrial
  • Aerospace
  • Automotive
  • Oil & Gas
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • The Chemours Company
  • DAIKIN INDUSTRIES, Ltd.
  • 3M
  • Asahi Glass Co., Ltd.
  • Solvay

 

Competitive Landscape

Key players competing in the global fluoroelastomers market are The Chemours Company; DAIKIN INDUSTRIES, Ltd.; 3M; Asahi Glass Co., Ltd.; and Solvay. The companies are focusing on growing manufacturing facilities, along with forming strong distribution networks with other industry players in order to expand their market shares.

In October 2019, Solvay announced plans to increase the company’s production capacity of Tecnoflon FKM peroxide curable fluoroelastomer at Spinetta Marengo plant in Italy. The company aimed to cater to the growing demand for sealing applications from the oil & gas, automotive, and semiconductor industries.

In August 2017, DAIKIN INDUSTRIES, Ltd. acquired Heroflon S.p.A, which is a fluoropolymer producer plant in Italy. The company aimed to enhance its fluoropolymer products portfolio for the automotive, electrical, construction, and chemical industries.

In May 2017, Asahi Glass Co., Ltd. launched AFLAS 600X FEPM material that offers processing and performance advantages over FKMs, BRE, and other AFLAS grades. The company aimed to make the material ideal for molded products, such as bladders, gaskets, durable packers, and O-rings.

Global Fluoroelastomers Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Fluoroelastomers Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Fluoroelastomers Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Fluoroelastomers Market - Supply Chain
  4.5. Global Fluoroelastomers Market Forecast
     4.5.1. Fluoroelastomers Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Fluoroelastomers Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Fluoroelastomers Market Absolute $ Opportunity
5. Global Fluoroelastomers Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Fluoroelastomers Market Size and Volume Forecast by Types
     5.3.1. Fluorocarbon Elastomers
     5.3.2. Perfluorocarbon Elastomers
     5.3.3. Fluorosilicone Elastomers
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Fluoroelastomers Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Fluoroelastomers Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Fluoroelastomers Demand Share Forecast, 2019-2026
7. North America Fluoroelastomers Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Fluoroelastomers Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Fluoroelastomers Market Size and Volume Forecast by Types
     7.4.1. Fluorocarbon Elastomers
     7.4.2. Perfluorocarbon Elastomers
     7.4.3. Fluorosilicone Elastomers
     7.4.4. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Fluoroelastomers Demand Share Forecast, 2019-2026
8. Latin America Fluoroelastomers Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Fluoroelastomers Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Fluoroelastomers Market Size and Volume Forecast by Types
     8.4.1. Fluorocarbon Elastomers
     8.4.2. Perfluorocarbon Elastomers
     8.4.3. Fluorosilicone Elastomers
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Fluoroelastomers Demand Share Forecast, 2019-2026
9. Europe Fluoroelastomers Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Fluoroelastomers Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Fluoroelastomers Market Size and Volume Forecast by Types
     9.4.1. Fluorocarbon Elastomers
     9.4.2. Perfluorocarbon Elastomers
     9.4.3. Fluorosilicone Elastomers
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Fluoroelastomers Demand Share Forecast, 2019-2026
10. Asia Pacific Fluoroelastomers Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Fluoroelastomers Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Fluoroelastomers Market Size and Volume Forecast by Types
     10.4.1. Fluorocarbon Elastomers
     10.4.2. Perfluorocarbon Elastomers
     10.4.3. Fluorosilicone Elastomers
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Fluoroelastomers Demand Share Forecast, 2019-2026
11. Middle East & Africa Fluoroelastomers Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Fluoroelastomers Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Fluoroelastomers Market Size and Volume Forecast by Types
     11.4.1. Fluorocarbon Elastomers
     11.4.2. Perfluorocarbon Elastomers
     11.4.3. Fluorosilicone Elastomers
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Fluoroelastomers Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Fluoroelastomers Market: Market Share Analysis
  12.2. Fluoroelastomers Distributors and Customers
  12.3. Fluoroelastomers Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. The Chemours Company
     12.4.2. DAIKIN INDUSTRIES, Ltd.
     12.4.3. 3M
     12.4.4. Asahi Glass Co., Ltd.
     12.4.5. Solvay

Segment Covered in the report
The global fluoroelastomers market has been segmented on the basis of
Types

  • Fluorocarbon Elastomers
  • Perfluorocarbon Elastomers
  • Fluorosilicone Elastomers
  • Others

Applications

  • Diaphragms
  • O-rings, Seals & Sealants
  • Valves
  • Others

End-user Industries

  • Industrial
  • Aerospace
  • Automotive
  • Oil & Gas
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • The Chemours Company
  • DAIKIN INDUSTRIES, Ltd.
  • 3M
  • Asahi Glass Co., Ltd.
  • Solvay

 

Key players competing in the global fluoroelastomers market are The Chemours Company; DAIKIN INDUSTRIES, Ltd.; 3M; Asahi Glass Co., Ltd.; and Solvay. The companies are focusing on growing manufacturing facilities, along with forming strong distribution networks with other industry players in order to expand their market shares.

In October 2019, Solvay announced plans to increase the company’s production capacity of Tecnoflon FKM peroxide curable fluoroelastomer at Spinetta Marengo plant in Italy. The company aimed to cater to the growing demand for sealing applications from the oil & gas, automotive, and semiconductor industries.

In August 2017, DAIKIN INDUSTRIES, Ltd. acquired Heroflon S.p.A, which is a fluoropolymer producer plant in Italy. The company aimed to enhance its fluoropolymer products portfolio for the automotive, electrical, construction, and chemical industries.

In May 2017, Asahi Glass Co., Ltd. launched AFLAS 600X FEPM material that offers processing and performance advantages over FKMs, BRE, and other AFLAS grades. The company aimed to make the material ideal for molded products, such as bladders, gaskets, durable packers, and O-rings.

Global Fluoroelastomers Market keyplayers

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