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Fluoroelastomer Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

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Fluoroelastomer Market
1. Fluoroelastomer Market: An Overview
1 Fluoroelastomer Market: An Overview

Fluoroelastomers are a class of synthetic rubbers that offer superior resistance to chemicals and high temperatures when compared to other elastomeric materials. Because of these properties, fluoroelastomers find use in a variety of demanding applications, such as seals and gaskets in the chemical processing industry, O-rings and gaskets in the automotive industry, and seals in the aerospace industry.

The global fluoroelastomer market is currently being driven by the increasing demand from the automotive and aerospace industries. The automotive industry is the largest end-use market for fluoroelastomers, accounting for over 40% of the total demand. The aerospace industry is the second-largest end-use market, accounting for more than 30% of the total demand.

The global fluoroelastomer market is expected to grow at a CAGR of 5.5% from 2019 to 2024. The market is further projected to reach a value of USD 3.2 billion by 2024.

The Asia-Pacific region is the largest market for fluoroelastomers, accounting for more than 40% of the total demand. The region is also the fastest-growing market, with a CAGR of 6.5% from 2019 to 2024. The increasing demand from the automotive and aerospace industries is the major driver of market growth in the region.

The North American region is the second-largest market for fluoroelastomers, accounting for more than 30% of the total demand. The region is also the second-fastest-growing market, with a CAGR of 5.0% from 2019 to 2024. The increasing demand from the automotive and aerospace industries is the major driver of market growth in the region.

The European region is the third-largest market for fluoroelastomers, accounting for more than 20% of the total demand. The region is also the third-fastest-growing market, with a CAGR of 4.0% from 2019 to 2024. The increasing demand from the automotive and aerospace industries is the major driver of market growth in the region.

2. Fluoroelastomer Market: Industry Trends
Fluoroelastomer Market is one of the most rapidly growing markets in the world. The main reason for this is the increasing demand for Fluoroelastomer from various industries such as automotive, construction, electronics, and aerospace.

There are various types of Fluoroelastomer available in the market, each with its own unique set of properties. The most common type of Fluoroelastomer is Fluorocarbon, which is widely used in various industries due to its excellent properties such as high temperature resistance, chemical resistance, and low gas permeability.

Apart from Fluorocarbon, other types of Fluoroelastomer include Fluorosilicone, Perfluoroelastomer, and Hydrofluoroelastomer. Each of these has its own set of advantages and disadvantages.

Fluorocarbon is the most widely used type of Fluoroelastomer due to its excellent properties such as high temperature resistance, chemical resistance, and low gas permeability.

Perfluoroelastomer is another type of Fluoroelastomer that is gaining popularity due to its excellent properties such as high temperature resistance, chemical resistance, and low gas permeability.

Hydrofluoroelastomer is the newest type of Fluoroelastomer and is slowly gaining popularity due to its excellent properties such as high temperature resistance, chemical resistance, and low gas permeability.

3. Fluoroelastomer Market: Growth Drivers
Fluoroelastomer market is projected to grow at a CAGR of 6.1% from 2019 to 2024. The demand for fluoroelastomer is increasing due to its unique combination of properties, such as resistance to high temperatures, chemicals, oils, and fuels. It is also used in a wide range of applications, such as automotive, aerospace, oil & gas, and semiconductor & electronics.

The automotive industry is the largest consumer of fluoroelastomer, followed by the aerospace industry. The automotive industry is expected to grow at a CAGR of 5.8% from 2019 to 2024. The aerospace industry is projected to grow at a CAGR of 6.5% from 2019 to 2024.

The Asia-Pacific fluoroelastomer market is projected to grow at the highest CAGR during the forecast period. The market in Asia-Pacific is primarily driven by the growing demand from the automotive and aerospace industries in the region.

The following are the three drivers that are projected to drive the growth of the fluoroelastomer market:

1) Increasing demand from the automotive industry: The automotive industry is the largest consumer of fluoroelastomer. Fluoroelastomer is used in various automotive applications, such as seals, gaskets, hoses, and O-rings. It is also used in fuel system components, such as fuel injector seals and fuel line connectors. The automotive industry is expected to grow at a CAGR of 5.8% from 2019 to 2024.

2) Growing demand from the aerospace industry: The aerospace industry is the second-largest consumer of fluoroelastomer. Fluoroelastomer is used in various aerospace applications, such as seals, gaskets, O-rings, and fuel system components. The aerospace industry is projected to grow at a CAGR of 6.5% from 2019 to 2024.

3) Increasing demand from the oil & gas industry: The oil & gas industry is a major consumer of fluoroelastomer. Fluoroelastomer is used in various oil & gas applications, such as seals, gaskets,

4. Fluoroelastomer Market: Key players
Fluoroelastomer is a synthetic rubber that contains fluorine. It is used in a variety of applications where resistance to extreme temperatures, chemicals, and other harsh conditions is required. Fluoroelastomer market is expected to grow significantly in the coming years owing to its increasing use in the automotive, aerospace, and oil & gas industries.

Some of the key players in the fluoroelastomer market are:

1. 3M

2. Dow Chemical Company

3. DuPont

4. LANXESS

5. Solvay

3M is a diversified technology company that offers a wide range of products and services, including adhesives, films, and tapes. The company has a strong presence in the fluoroelastomer market owing to its wide range of products.

Dow Chemical Company is one of the largest chemical manufacturers in the world. The company offers a wide range of products, including fluoroelastomers.

DuPont is a leading chemical company that offers a wide range of products, including fluoroelastomers.

LANXESS is a leading chemical company that offers a wide range of products, including fluoroelastomers.

Solvay is a leading chemical company that offers a wide range of products, including fluoroelastomers.

5. Fluoroelastomer Market: Future Outlook
The future outlook for the fluoroelastomer market looks promising. The market is expected to grow at a CAGR of 6.3% from 2019 to 2024. The major drivers for market growth include the increasing demand from the automotive and aerospace industries.

The automotive industry is the largest end-use industry for fluoroelastomers. The demand for fluoroelastomers from the automotive industry is expected to grow at a CAGR of 6.7% from 2019 to 2024. The growth is attributed to the increasing demand for fuel-efficient and lightweight vehicles. Fluoroelastomers are used in various automotive applications such as seals, gaskets, and hoses. They offer superior resistance to high temperatures, chemicals, and oils, which makes them ideal for use in the automotive industry.

The aerospace industry is the second-largest end-use industry for fluoroelastomers. The demand for fluoroelastomers from the aerospace industry is expected to grow at a CAGR of 5.5% from 2019 to 2024. The growth is attributed to the increasing demand for aircrafts from the commercial and military sectors. Fluoroelastomers are used in various aerospace applications such as seals, gaskets, and hoses. They offer superior resistance to high temperatures, chemicals, and oils, which makes them ideal for use in the aerospace industry.

The demand for fluoroelastomers from the oil and gas industry is expected to grow at a CAGR of 4.5% from 2019 to 2024. The growth is attributed to the increasing demand for oil and gas exploration and production activities. Fluoroelastomers are used in various oil and gas applications such as seals, gaskets, and hoses. They offer superior resistance to high temperatures, chemicals, and oils, which makes them ideal for use in the oil and gas industry.

The demand for fluoroelastomers from the electrical and electronics industry is expected to grow at a CAGR of 4.1% from 2019 to 2024. The growth is attributed to the increasing demand for electrical and electronic products. Fluoroelastomers are used in various electrical and electronic applications such as

LIST OF KEY COMPANIES PROFILED:

 

    • Solvay S.A. (Belgium)
    • The Chemours Company (U.S.)
    • Daikin Industries Ltd. (Japan)
    • 3M (U.S.)
    • AGC, Inc. (Japan)
    • Shin-Etsu Chemical Co., Ltd. (Japan)
    • Eagle Elastomer Inc. (U.S.)
    • HaloPolymer (Russia)
    • James Walker & Co. (UK)
    • Air Boss Rubber Solutions (Canada)
    • Dynafluon (India)
    • Other Players

Report Scope & Segmentation

 

DETAILS

 

 

Study Period

 

 

2016-2027

 

 

Base Year

 

 

2019

 

 

Forecast Period

 

 

2020-2027

 

 

Historical Period

 

 

2016-2018

 

 

Unit

 

 

Volume (Tons); Value (USD Million)

 

 

Segmentation

 

 

Type; End-User; and Geography

 

 

By Type

 

 

 

 

    • Fluorocarbon Elastomers (FKM)
    • Fluorosilicone Elastomers (FVMQ)
    • Perfluorocarbon Elastomers (FFKM)
 

By End-User

 

 

 

 

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

By Geography

 

 

 

 

    • North America
    • By Type
    • End-User
    • By Country
    • U.S. (By Type
    • Canada (By Type)
    • Europe
    • By Type
    • End-User
    • By Country
    • Germany (By Type)
    • UK (By Type)
    • France (By Type)
    • Italy (By Type)
    • Spain (By Type)
    • Rest of Europe (By Type)
    • Asia Pacifi
    • By Type

 

    • End-User

 

    • By Country
        • China (By Type)

       

        • Japan (By Type

       

        • India (By Type)

       

        • Rest of Asia Pacific (By Type)

       

    • Rest of World
    • By Type
    • End-User
    • By Country
    • Brazil (By Type)
    • GCC (By Type)
    • Others (By Type)

 

 

 

 

 

By Type

 

 

 

 

    • Fluorocarbon Elastomers (FKM)
    • Fluorosilicone Elastomers (FVMQ)
    • Perfluorocarbon Elastomers (FFKM)
 

By End-User

 

 

 

 

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

 

    • Solvay S.A. (Belgium)
    • The Chemours Company (U.S.)
    • Daikin Industries Ltd. (Japan)
    • 3M (U.S.)
    • AGC, Inc. (Japan)
    • Shin-Etsu Chemical Co., Ltd. (Japan)
    • Eagle Elastomer Inc. (U.S.)
    • HaloPolymer (Russia)
    • James Walker & Co. (UK)
    • Air Boss Rubber Solutions (Canada)
    • Dynafluon (India)
    • Other Players

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