The global fluoroelastomer market is expected to witness substantial growth owing to increasing use in the automobile industry due to superior sealing and mechanical properties as well as superior heat resistance. Rising demand from the aerospace industry for specialized fluoroelastomer products including hoses and gaskets is expected to propel the global fluoroelastomers market over the next seven years. Superior electrical insulation properties, favorable mechanical properties including resistance to extreme temperature and degradation is likely to propel market growth. In addition, high chemical resistance including resistance to aliphatic and aromatic hydrocarbons makes it one of the most widely used materials in the industries which are expected to augment the growth of the global 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 are expected to drive market growth.
High ratio of fluorine to hydrogen, exceptional oil resistance, and outstanding heat stability due to the absence of saturation make fluoroelastomer a superior rubber additive. The global fluoroelastomer market is segmented based on their properties and is divided into three broader categories including fluoroelastomer polymers (FKM), tetrafluoroethylene/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 the 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 temperatures and preventing corrosion. Fluoroelastomer is used in the oil & gas industry as sealing agents including the protection of solutions from extreme climate. The wide use of low-cost fluoroelastomers including Polyvinylidene fluoride (PVDF) and Fluorinated ethylene propylene (FEP) in the construction industry owing to increasing use in coatings application is expected to propel the market growth. However, the availability of fluorspar, the key raw material for the manufacturing of fluoroelastomers owing to its use in various other industries including metallurgy, glass, and aluminum is expected to be a major challenge for the growth of fluoroelastomers 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 the market growth. Furthermore, rising environmental concerns associated with the use of fluoroelastomers is expected to pose a major restraint over the next seven years.
Asia Pacific accounted for the largest market share in terms of fluoroelastomers consumption owing to increasing application industries including automotive, pharmaceutical, and food processing. High capital investments in the coatings industry from emerging economies like India and China are also expected to propel the growth of fluoroelastomers in the region over the forecast period. North America contributed for a significant share of the fluoroelastomers market owing to its huge demand from the aerospace and automotive industries. The Middle East contributed a significant share of the fluoroelastomers market due to widespread use in oil and gas industries in the region. Europe contributed a significant share of the fluoroelastomers market owing to huge demand from the automotive and aerospace industries. Countries in Europe from where the significant amount of demand came up were Spain, Germany, and the 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 include 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.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
ESOMAR & Great Work to Place Certified
ISO 9001:2015 & 27001:2022 Certified
"The quality of research they have done for us has been excellent."
Halted manufacturing activities across various end-use industries has led to weakened demand for specialty polymers. The prevailing macroenvironment due to the pandemic shall register indications of recovery depending on the course of COVID-19's prevalence and subsequent resuming of manufacturing activities. The report will account for Covid19 as a key market contributor.