Market Overview
According to the latest report, the global Fluoroelastomer Market Size size in 2019 is witnessed at USD 1,356.4 million and is predicted to reach the market size of USD 1,794.1 million with the highest CAGR of 3.7% during the forecast period 2020-2027.
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Fluoroelastomer rubber is a high-performance synthetic rubber that exhibits excellent mechanical and chemical properties like excellent abrasion, good chemical resistance, and radiation resistance. It has exceptional resistance to oils, gases, fluids, and chemicals at high temperatures and severe environments. These are preferred in harsh operational conditions in various industries like aerospace & defense, automotive, oil & gas, chemicals, and others. Synthetic elastomers with superior properties like better chemical resistance, temperature resistance, and flexibility are possible by using the fluoroelastomer material. Dyneon, Viton, DAI-EL, Tecnoflon, AFLAS, and Fluonox are some of the common trade names providing fluoroelastomers.
Due to the superior sealing, chemical resistance & oils, high heat stability, and mechanical properties of the fluoroelastomers, it is highly demanded in major end-use industries like automotive, aerospace & defense, and more. It has various benefits like electrical insulation, resistance to heat and degradation is accelerating the growth of the market. Owing to the high demand for products including gaskets and hoses, the aerospace industry is fostering market growth. High chemical resistance including resistance to aliphatic and aromatic hydrocarbons makes it ideal to use in a wide range of materials in the industries which are escalating the market growth. Due to their resistance to withstand extreme weather conditions, fluoroelastomers are preferred in the pharmaceutical and food processing industries.
The fluoroelastomers market opportunities are limiting the availability of fluorspar which is the major raw material for the production of fluoroelastomers.
Industry News
As per the latest updates, the fluoroelastomers market is anticipated to reach immense growth due to its superior benefits, and characteristics. Moreover, the investments in R&D, expansions, product launches, and acquisitions by the industry players are boosting the market growth.
Market Segmentation
The fluoroelastomer market is analyzed into product type, application, and end-use industry.
Product Type Segmentation: The fluoroelastomers based on the product type are trifurcated into fluorocarbon elastomers, fluorosilicone elastomers, and perfluoro elastomers.
Application Segmentation: By application, the fluoroelastomer is classified into O-rings, seals & gaskets, hoses, complex molding parts, and others.
End-use Industry: The fluoroelastomers based on the end-use industry is categorized into various forms such as automotive, chemical processing, aerospace & defense, oil& gas, medical, semiconductor, and others.
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Regional Analysis
Based on the recent research, the fluoroelastomer market is regionally divided into five regions like North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Out of these regions, North America is leading the highest market share due to its use in the aerospace& defense industry. Moreover, government initiatives regarding fuel emission coupled with rising demand in the automotive industry are predicted to bolster market growth. Europe is accounting for a significant market share owing to the rising demand for fluorocarbon elastomers in various industries. Apart, the healthy growth of the oil & gas industry is projected to positively impact the market growth.
The fluoroelastomers market industry players are Daikin Industries Ltd, Solvay SA, The Chemours Company, Gujarat Fluorochemicals Limited, Dynamix, Eagle Elastomers, Precision Polymer Engineering, and others.
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Dynamics Of Global Fluoroelastomers (FKM) Market
4.1 Introduction
4.2 Drivers
4.2.1 Increasing Demand From The Automotive Industry
4.2.2 Healthy Growth Of Fluoroelastomers In The Oil & Gas Industry
4.2.3 Drivers Impact Analysis
4.3 Restraints
4.3.1 Environmental Concerns Associated With The Use Of Fluoroelastomers
4.3.2 Restraints Impact Analysis
4.4 Opportunities
4.5 Challenges
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.1.1 Raw Material
5.1.2 Manufacturers And Suppliers Of Fluoroelastomer
5.1.3 Distribution Channel: Distributors/Retailers/Wholesalers/E-Commerce Merchants
5.1.4 End-Use Industries
5.2 Porter’s Five Forces Model
5.2.1 Threat Of New Entrants
5.2.2 Intensity Of Competitive Rivalry
5.2.3 Threat Of Substitutes
5.2.4 Bargaining Power Of Suppliers
5.2.5 Bargaining Power Of Buyers
5.3 Pricing Analysis
5.4 Trade Analysis
5.5 Regulatory Analysis
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