Fluoroelastomers Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Product Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers, Perfluorocarbon Elastomers, and Other Product Types), Application (Diaphragms, Valves, O-rings, Seals and Sealants, and Other Applications), End-user Industry (Automotive, Aerospace, Oil and Gas, Industrial, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

6 %

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Market Overview

The global fluoroelastomers market is estimated to witness a healthy growth, at an estimated CAGR of over 6%, over the forecast period. The major factors driving the growth of the market studied are rising usage in sealing applications and applications in a wide range of end-user industries.

  • Hazardous working condition is likely to hinder the markets growth.
  • Novel applications of per fluorocarbon elastomers are likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.

Scope of the report

The global fluoroelastomers market report includes:

Product Type
Fluorocarbon Elastomers
Fluorosilicone Elastomers
Perfluorocarbon Elastomers
Other Product Types
Application
Diaphragms
Valves
O-rings, Seals and Sealants
Other Applications
End-user Industry
Automotive
Aerospace
Oil and Gas
Industrial
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
South Africa
Rest of the World

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Key Market Trends

Increasing Demand for Fluorocarbon Elastomers

  • Fluorocarbon elastomers are highly fluorinated carbon-based polymers used in applications to resist harsh chemical and ozone attack. There are, however, specialty grade fluorocarbons that can provide high fluorine content with low-temperature properties.
  • Fluorocarbon elastomers become of vital importance in seal manufacturing. Owing to the wide of chemical compatibility, temperature range, low compression set, and excellent aging characteristics, fluorocarbon rubber is the most significant single elastomer developed over the years.
  • Fluorocarbons are resistant to a broader range of chemicals along with the excellent high-temperature properties than any of the other elastomers. Due to which, it is the most preferred elastomer for sealing in the use of O-rings and other custom seals over different types of elastomers, globally.
  • These elastomers are highly resistant to swelling and degradation when exposed to gasoline or UV light and ozone. With exposure to low temperatures, fluorocarbon elastomers can become hard (-4 °F) but can be serviceable at low temperatures, although these compounds are not ideal for applications requiring good low-temperature flexibility.
  • Additionally, some of the other materials are also present with the differing composition of monomers and fluorine content (65% to 71%) for improved resistance against low, high temperature, or chemicals. Fluorocarbon elastomers provide low gas permeability, which make them suitable for hard vacuum service applications and many other industrial applications.
  • Owing to all these factors, the market for fluoroelastomers is likely to grow across the world during the forecast period.

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region is expected to dominate the market. In the region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy.
  • The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
  • Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China’s geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
  • China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, in order to ensure fuel economy, and to minimize emissions (owing to the growing environmental concerns due to mounting pollution in the country).
  • The production is expected to reach 30 million units by 2020, owing to the “Made in China 2025” initiative support in upgrading the existing low-cost mass production to higher value-added advanced manufacturing. “Automobile Mid and Long-Term Development Plan”, was released in 2017, with an objective to make China a strong auto power in the next ten years.
  • Due to all such factors, the market for fluoroelastomers in the region is expected to have a steady growth during the forecast period.

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Competitive Landscape

The fluoroelastomers market is partially consolidated in nature. Some of the major players in the market include 3M, Asahi Glass Co., Ltd., DAIKIN INDUSTRIES, Ltd., The Chemours Company, and Solvay, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Usage in Sealing Applications

      2. 4.1.2 Applications in a Wide Range Of End-user Industries

    2. 4.2 Restraints

      1. 4.2.1 Hazardous Working Condition

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Fluorocarbon Elastomers

      2. 5.1.2 Fluorosilicone Elastomers

      3. 5.1.3 Perfluorocarbon Elastomers

      4. 5.1.4 Other Product Types

    2. 5.2 Application

      1. 5.2.1 Diaphragms

      2. 5.2.2 Valves

      3. 5.2.3 O-rings, Seals and Sealants

      4. 5.2.4 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive

      2. 5.3.2 Aerospace

      3. 5.3.3 Oil and Gas

      4. 5.3.4 Industrial

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Saudi Arabia

        3. 5.4.4.3 South Africa

        4. 5.4.4.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 All Seals Inc.

      3. 6.4.3 Asahi Glass Co., Ltd.

      4. 6.4.4 DAIKIN INDUSTRIES, Ltd.

      5. 6.4.5 Eagle Elastomer Inc.

      6. 6.4.6 Freudenberg Sealing Technologies

      7. 6.4.7 GARLOCK

      8. 6.4.8 HaloPolymer

      9. 6.4.9 KUREHA CORPORATION

      10. 6.4.10 LANXESS

      11. 6.4.11 Minor Rubber Products

      12. 6.4.12 Parker Hannifin Corp

      13. 6.4.13 Precision Associates, Inc.

      14. 6.4.14 Shanghai Fluoron Chemicals Co.Ltd

      15. 6.4.15 Solvay

      16. 6.4.16 STOCKWELL ELASTOMERICS, INC.

      17. 6.4.17 The Chemours Company

      18. 6.4.18 Trp Polymer Solutions Limited

      19. 6.4.19 Zhonghao Chenguang Research Institute of Chemical Industry

      20. 6.4.20 Zrunek Gummiwaren GmbH

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Novel Applications of Per fluorocarbon Elastomers

** Subject to Availability

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