USD 1.31 billion
Report ID: SQSG25B2002 | Region: Global | Published Date: July, 2023 | Pages: 242 | Tables: 95 | Figures: 76
Fluoroelastomers Market size was valued at USD 1.31 billion in 2021 and is poised to grow from USD 1.35 billion in 2022 to USD 1.94 billion by 2030, growing at a CAGR of 2.93% in the forecast period (2023-2030).
Fluoroelastomers are made by copolymerizing hexafluoropropylene (CF2=CFCF3), chlorotrifluoroethylene (CF2=CFCl), vinylidene fluoride (CH2=CF2), and tetrafluoroethylene (C2=F4). These elastomers are commonly known as fluorinated elastomers. They are widely employed in the automotive sector due to their unique qualities such as heat resistance, sealing capabilities, and mechanical properties. They can be employed at higher temperatures ranging from -26°C to 205-230°C for short-duration procedures.
Fluoroelastomers are highly fluorinated carbon-based polymers that are widely employed as high-performance synthetic rubbers with excellent resistance to chemicals, heat, and oil. The market has been growing steadily over the years owing to increase in demand from oil and gas industry, need for sustainable materials, and a growing demand from automotive industry.
US Fluoroelastomers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.31 billion
To get more reports on the above market click here to Buy The Report
Global fluoroelastomer market is segmented based on the type, end-user, application, and region. Based on type, the market is segmented Fluorocarbon Elastomers (FKM), Fluorosilicone Elastomers (FVMQ), and Perfluorocarbon Elastomers (FFKM). Based on end-user, the market is segmented into automotive, industrial, aerospace, oil & gas, and others. Based on application, the fluoroelastomers market is categorized into diaphragms, valves, O-rings, seals and sealants, and other. By region, the Fluoroelastomers Market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Analysis by Type
Fluorocarbon Elastomers dominated the market in 2022. The FKM category's prominence can be attributed to its widespread application in car and aerospace components. The chemical and heat resistance, low compression set, and good ageing properties of FKM have made it a key component in the fabrication of seals.
Due to its ability to withstand fuels and solvents at varied temperatures, the Fluorosilicone Elastomers market is expected to see considerable demand from the automotive and aerospace industries.
Perfluorocarbon Elastomers are in high demand in the food, pharmaceutical, and food processing sectors. FFKM is a chemical compound. When FDA compliance is necessary, this product is utilised to provide minimal contamination.
Analysis by End-User
During the projection period, the automotive segment is predicted to hold a leading market share. The bulk of fluoroelastomers are used in the manufacturing of automobile components. Drive trains and fuel handling are the examples of vehicle components. Fluoroelastomer is used in systems to enhance fuel economy and reduce emissions. All of the aforementioned variables will contribute to the expansion of the automobile industry.
The increased use of O-rings, seals, gaskets, and hoses in aircraft fuel systems, where they serve as a barrier to emissions as well as provide resistance to fuels is boosting the growth in the aerospace sector. With efficient oil resistance and sealing applications, the oil and gas sector is expected to expand significantly throughout the forecast period.
To get detailed analysis on other segments, Request For Sample Report
Global Fluoroelastomers Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
Asia Pacific accounted for the largest market share in the fluoroelastomer market. Rising investments in the developing countries such as India and China will propel its growth in the pharmaceutical, food processing, chemical processing, and coating areas. Due to fuel pollution regulations, the market in North America is characterised by rising demand from the automotive and aerospace sectors.
Major automotive and aerospace firms like as Dassault Aviation and Airbus are driving up demand for these elastomers in Europe. Germany, France, and the United Kingdom were significant contributors to push the demand. Market expansion due to widespread usage in the oil and gas and chemical industries, and demand is likely to rise during the forecast period.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
High Compatibility of Fluoroelastomer to Boost Market Growth
Associated Harmful Effects to Hamper Market Growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The top players spend in research to create new products with improved performance and quality. Particular applications AGC, Inc., for example, released the AFLAS series for food processing applications certified by the US FDA, and the firms are executing growth and acquisition plans to increase their market position. New factories are being established in emerging nations to meet rising demand and future prospects.
Fluoroelastomers Market Top Player's Company Profiles
Fluoroelastomers Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Fluoroelastomers market analysis, Manufacturing will be halted to reduce demand for fluoroelastomers during the pandemic. The market will be driven by the development of fluoroelastomer products tailored to the application. Growing environmental concerns threaten market growth. The market was dominated by the fluorocarbon elastomer (FKM) segment.
|Market size value in 2021||USD 1.31 billion|
|Market size value in 2030||USD 1.35 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Fluoroelastomers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Fluoroelastomers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Fluoroelastomers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Fluoroelastomers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.