Global fluoroelastomer market is expected to witness substantial growth owing to increasing use in automobile industry due to superior sealing and mechanical properties as well as superior heat resistance. Rising demand from aerospace industry for specialized fluoroelastomer products including hoses and gaskets is expected to propel global fluoroelastomer market over the next seven years. Superior electrical insulation properties, favorable mechanical properties including resistance to extreme temperature and degradation is likely propel market growth. In addition, high chemical resistance including resistance to aliphatic and aromatic hydrocarbons makes it one of the most widely used material in the industries which is expected to augment the growth of global fluoroelastomer market over the forecast period. Fluoroelastomers are gaining importance in pharmaceutical and food processing industries owing to their resistance to withstand extreme weather conditions which is expected to drive fluoroelastomer market growth.
High ratio of fluorine to hydrogen, exceptional oil resistance and outstanding heat stability due to absence of saturation makes fluoroelastomer a superior rubber additive. Global fluoroelastomers market is segmented based on their properties and are divided into three broader categories including fluoroelastomer polymers (FKM), tetrafluoro ethylene/propylene rubbers (FEPM) and perfluoroelastomeric compounds (FFKM). FKM held the majority market owing to its improved base resistance, high heat resistance and improved low temperature performance. FFKM category accounted for second largest market share owing to superior fluid resistance properties in paints & coatings manufacturing and oil & gas recovery. FEPM also contributed a significant share owing to growing use in aerospace applications as fuel system sealing agents. Fluoroelastomers finds its largest application in automobile and aerospace industries owing to growing use in O-ring, gaskets, seals and hoses. In addition, fluoroelastomers are widely used in fuel system applications where they provide chemical resistance against various fuels and act as a barrier against evaporative emissions. Furthermore, stringent regulations against harmful emissions are expected to propel fluoroelastomers market growth over the forecast period. Pharmaceutical and food processing industries also contributed to a significant share in fluoroelastomer application owing to its use in protection against high temperature and preventing corrosion. Fluoroelastomer is used in oil & gas industry as sealing agents including protection of solutions from extreme climate. Wide use of low cost fluoroelastomers including Polyvinylidene fluoride (PVDF) and Fluorinated ethylene propylene (FEP) in construction industry owing to increasing use in coatings application is expected to propel the market growth. However, availability of fluorspar, the key raw material for manufacturing of fluoroelastomers owing to its use in various other industries including metallurgy, glass, and aluminium is expected to be a major challenge for the growth of fluoroelastomer market over the forecast period. High cost to volume ratio compared to other industrial resins which are widely available at lower costs is anticipated to hamper market growth. Furthrmore, rising environmental concerns associated with the use of fluoroelastomers is expected to pose as major restraint over the next seven years.
Asia pacific accounted for largest market share in terms of fluoroelastomers consumption owing to increasing application industries including automotive, pharmaceutical and food processing. High capital investments in coatings industry from the emerging economies like India and China is also expected to propel the growth of fluoroelastomers in the region over the forecast period. North America contributed for a significant share of fluoroelastomers market owing to its huge demand from aerospace and automotive industries. Middle East contributed for a significant share of fluoroelastomers market due to widespread use in oil and gas industries in the region. Europe contributed for a significant share of fluoroelastomers market owing to huge demand from automotive and aerospace industries. Countries in Europe from where the significant amount of demand came up were Spain, Germany and UK. In addition, countries including Spain, Germany and UK contributed a major share to the fluoroelastomer market owing to the presence of major aerospace industries including Airbus and Dassault.
Major players in fluoroelastomer market includes DuPont, 3M company, Honeywell International Inc., Asahi Glass company Ltd., Daikin Industries, Garlock, Lauren manufacturing, Vanguard Products Corp., Precision Associates, Accutrex Products, Omni Seals, Inc., Standard Rubber Products Co., Stockwell Elastomerics, Inc, Minor Rubber Co., Inc., Northwest Rubber Extruders, Inc., Ames Rubber Manufacturing Company, All Seals, Inc., I. G. Marston Co., Inc., Hennig Gasket & Seals, Inc., Chambers Gasket & Manufacturing Co., IGS Industries, Mikron Rubber, Tompkins Industries, Inc.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.