Fluoroelastomer Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Fluoroelastomer Market
The fluoroelastomer market size was valued at USD 1356.4 million in 2019, and the market is now projected to grow USD 1794.1 million in 2027 exhibiting a CAGR of 3.7% during the forecast period of 2020-2027.
The outbreak of COVID-19 affected the automotive and aerospace industries by bringing production lines to a complete stop and creating supply disruptions. The fluoroelastomer manufacturing was disrupted Due to lockdowns in China, a major producer hence impacted the supply globally. The automotive industry experienced revenue declines owing to lack of production, and the airplane manufacturing industry cut production because of COVID-19 quarantine measures. As such, OEMs that used fluoroelastomer as the raw materials equally suffered reduced production. COVID-19 interferences have declined in fluoroelastomer growth-sensitive industries.
This demand due to emergent environmental issues and uncertainty in the prices of fossil fuels, has forcing automobile industries to look for advanced lightweight structural materials and designs. These changes cause elements inside vehicles to be adversative to high temperature as well as damaging fluids and thus needs material such as fluoroelastomer. Fluoroelastomers demonstrate high chemical and heat proved immunity, rightfully used in automobile industry. Whereas conventional elastomers cannot respond to such conditions, the need for fluoroelastomer is created. This shift is believed to have the potential of greatly increasing the fluoroelastomer market particularly in the automotive industry.
From 2020 to 2027 the demand of fluoroelastomer is expected to increase because of their ability to withstand highly chemical and heat-resistant situations and environments. Thus, companies are optimizing the chemical constitution of their products to deliver better performance in such conditions. Industry players also developed food contact and pharmaceutical contact compliant fluoroelastomer that received regulatory sanction. In August 2019, the US FDA cleared AGC, Inc.’s AFLAS series for their use in food contact applications. The notifier number FCN2008-0043 for AFLAS Series 150P, 100S and 100H have been approved by the US FDA to be used in the food contact surface applications.
Comprehensive Analysis of Fluoroelastomer Market
The fluoroelastomer market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by type analysis, and by end-user analysis. By type analysis incudes FKM, FVMQ, and FFKM. By end-user analysis incudes automotive, industrial, aerospace, oil and gas industries, and others.
The Asia Pacific region lead the fluoroelastomer market share by benefitting a market size of USD 541.93 million in 2019 due to its increasing demand from automotive and aerospace industries.
Top players in the market have their responsibility of chemicals & advanced materials industrial prospectus growth of the retailing industry and the markets. These players include, Solvay S.A., The Chemours Company, Daikin Industries Ltd., 3M, AGC, Inc., Shin-Etsu Chemical Co., Ltd., Eagle Elastomer Inc., HaloPolymer, James Walker & Co., Air Boss Rubber Solutions, and Dynafluon these market players provide a level-playing competitive landscape.
In October 2019, Solvay announced a 30% increase in production capacity for Tecnoflon FKM fluoroelastomer at its Spinetta Marengo plant to meet rising demand in automotive, oil & gas, and semiconductor industries, with completion expected by May 2021.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Volume (Tons); Value (USD Million)
Segmentation Type; End-User; and Geography
By Type
Fluorocarbon Elastomers (FKM)
Fluorosilicone Elastomers (FVMQ)
Perfluorocarbon Elastomers (FFKM)
By End-User
Automotive
Industrial
Aerospace
Oil & Gas
Others
By Geography
North America
By Type
End-User
By Country
U.S. (By Type
Canada (By Type)
Europe
By Type
End-User
By Country
Germany (By Type)
UK (By Type)
France (By Type)
Italy (By Type)
Spain (By Type)
Rest of Europe (By Type)
Asia Pacific
By Type
End-User
By Country
China (By Type)
Japan (By Type
India (By Type)
Rest of Asia Pacific (By Type)
Rest of World
By Type
End-User
By Country
Brazil (By Type)
GCC (By Type)
Others (By Type)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market SegHouseholdtation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Key Market Trends in the Global Market
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc. .
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights Impact of COVID 19 on Global Fluoroelastomer Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Government/Companies to overcome this impact
- 5.3. Potential opportunities due to COVID-19 outbreak
- 6. Global Fluoroelastomer Market Analysis, Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type
- 6.2.1.1. FKM
- 6.2.1.2. FVMQ
- 6.2.1.3. FFKM
- 6.2.2. By End-User
- 6.2.2.1. Automotive
- 6.2.2.2. Industrial
- 6.2.2.3. Aerospace
- 6.2.2.4. Oil & Gas
- 6.2.2.5. Others
- 6.2.3. By Region (Value & Volume)
- 6.2.3.1. North America
- 6.2.3.2. Europe
- 6.2.3.3. Asia Pacific
- 6.2.3.4. Rest of World
- 7. North America Fluoroelastomer Market Analysis, Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type
- 7.2.1.1. FKM
- 7.2.1.2. FVMQ
- 7.2.1.3. FFKM
- 7.2.2. By End-User
- 7.2.2.1. Automotive
- 7.2.2.2. Industrial
- 7.2.2.3. Aerospace
- 7.2.2.4. Oil & Gas
- 7.2.2.5. Others
- 7.2.3. By Country (Value & Volume)
- 7.2.3.1. U.S.
- 7.2.3.1.1. By Type
- 7.2.3.1.1.1. FKM
- 7.2.3.1.1.2. FVMQ
- 7.2.3.1.1.3. FFKM
- 7.2.3.2. Canada
- 7.2.3.2.1. By Type
- 7.2.3.2.1.1. FKM
- 7.2.3.2.1.2. FVMQ
- 7.2.3.2.1.3. FFKM
- 8. Europe Fluoroelastomer Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Type
- 8.2.1.1. FKM
- 8.2.1.2. FVMQ
- 8.2.1.3. FFKM
- 8.2.2. By End-User
- 8.2.2.1. Automotive
- 8.2.2.2. Industrial
- 8.2.2.3. Aerospace
- 8.2.2.4. Oil & Gas
- 8.2.2.5. Others
- 8.2.3. By Country (Value & Volume)
- 8.2.3.1. Germany
- 8.2.3.1.1. By Type
- 8.2.3.1.1.1. FKM
- 8.2.3.1.1.2. FVMQ
- 8.2.3.1.1.3. FFKM
- 8.2.3.2. France
- 8.2.3.2.1. By Type
- 8.2.3.2.1.1. FKM
- 8.2.3.2.1.2. FVMQ
- 8.2.3.2.1.3. FFKM
- 8.2.3.3. UK
- 8.2.3.3.1. By Type
- 8.2.3.3.1.1. FKM
- 8.2.3.3.1.2. FVMQ
- 8.2.3.3.1.3. FFKM
- 8.2.3.4. Italy
- 8.2.3.4.1. By Type
- 8.2.3.4.1.1. FKM
- 8.2.3.4.1.2. FVMQ
- 8.2.3.4.1.3. FFKM
- 8.2.3.5. Spain
- 8.2.3.5.1. By Type
- 8.2.3.5.1.1. FKM
- 8.2.3.5.1.2. FVMQ
- 8.2.3.5.1.3. FFKM
- 8.2.3.6. Rest of Europe
- 8.2.3.6.1. By Type
- 8.2.3.6.1.1. FKM
- 8.2.3.6.1.2. FVMQ
- 8.2.3.6.1.3. FFKM
- 9. Asia-Pacific Fluoroelastomer Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type
- 9.2.1.1. FKM
- 9.2.1.2. FVMQ
- 9.2.1.3. FFKM
- 9.2.2. By End-User
- 9.2.2.1. Automotive
- 9.2.2.2. Industrial
- 9.2.2.3. Aerospace
- 9.2.2.4. Oil & Gas
- 9.2.2.5. Others
- 9.2.3. By Country (Value & Volume)
- 9.2.3.1. China
- 9.2.3.1.1. By Type
- 9.2.3.1.1.1. FKM
- 9.2.3.1.1.2. FVMQ
- 9.2.3.1.1.3. FFKM
- 9.2.3.2. Japan
- 9.2.3.2.1. By Type
- 9.2.3.2.1.1. FKM
- 9.2.3.2.1.2. FVMQ
- 9.2.3.2.1.3. FFKM
- 9.2.3.3. India
- 9.2.3.3.1. By Type
- 9.2.3.3.1.1. FKM
- 9.2.3.3.1.2. FVMQ
- 9.2.3.3.1.3. FFKM
- 9.2.3.4. Rest of Asia-Pacific
- 9.2.3.4.1. By Type
- 9.2.3.4.1.1. FKM
- 9.2.3.4.1.2. FVMQ
- 9.2.3.4.1.3. FFKM
- 10. Rest of World Fluoroelastomer Market Analysis, Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type
- 10.2.1.1. FKM
- 10.2.1.2. FVMQ
- 10.2.1.3. FFKM
- 10.2.2. By End-User
- 10.2.2.1. Automotive
- 10.2.2.2. Industrial
- 10.2.2.3. Aerospace
- 10.2.2.4. Oil & Gas
- 10.2.2.5. Others
- 10.2.3. By Country (Value & Volume)
- 10.2.3.1. Brazil
- 10.2.3.1.1. By Type
- 10.2.3.1.1.1. FKM
- 10.2.3.1.1.2. FVMQ
- 10.2.3.1.1.3. FFKM
- 10.2.3.2. GCC
- 10.2.3.2.1. By Type
- 10.2.3.2.1.1. FKM
- 10.2.3.2.1.2. FVMQ
- 10.2.3.2.1.3. FFKM
- 10.2.3.3. Others
- 10.2.3.3.1. By Type
- 10.2.3.3.1.1. FKM
- 10.2.3.3.1.2. FVMQ
- 10.2.3.3.1.3. FFKM
- 11. Company Profiles
- 11.1. Solvay S.A.
- 11.1.1. Overview
- 11.1.2. Description
- 11.1.3. Product Portfolio
- 11.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.1.5. Recent Developments
- 11.2. The Chemours Company
- 11.2.1. Overview
- 11.2.2. Description
- 11.2.3. Product Portfolio
- 11.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5. Recent Developments
- 11.3. Daikin Industries Ltd.
- 11.3.1. Overview
- 11.3.2. Description
- 11.3.3. Product Portfolio
- 11.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.3.5. Recent Developments
- 11.4. 3M
- 11.4.1. Overview
- 11.4.2. Description
- 11.4.3. Product Portfolio
- 11.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.4.5. Recent Developments
- 11.5. AGC, Inc.
- 11.5.1. Overview
- 11.5.2. Description
- 11.5.3. Product Portfolio
- 11.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.5.5. Recent Developments
- 11.6. Shin-Etsu Chemical Co., Ltd.
- 11.6.1. Overview
- 11.6.2. Description
- 11.6.3. Product Portfolio
- 11.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.6.5. Recent Developments
- 11.7. Eagle Elastomer, Inc.
- 11.7.1. Overview
- 11.7.2. Description
- 11.7.3. Product Portfolio
- 11.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.7.5. Recent Developments
- 11.8. HaloPolymer
- 11.8.1. Overview
- 11.8.2. Description
- 11.8.3. Product Portfolio
- 11.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.8.5. Recent Developments
- 11.9. James Walker & Co.
- 11.9.1. Overview
- 11.9.2. Description
- 11.9.3. Product Portfolio
- 11.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.9.5. Recent Developments
- 11.10. Air Boss Rubber Solutions
- 11.10.1. Overview
- 11.10.2. Description
- 11.10.3. Product Portfolio
- 11.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.10.5. Recent Developments
- 11.11. Dynafluon
- 11.11.1. Overview
- 11.11.2. Description
- 11.11.3. Product Portfolio
- 11.11.4. Financials (Data as available in public domain and/or on paid databases)
- 11.11.5. Recent Developments
- 11.12. Other Key Market Players
- 11.12.1. Overview
- 11.12.2. Description
- 11.12.3. Product Portfolio
- 11.12.4. Financials (Data as available in public domain and/or on paid databases)
- 11.12.5. Recent Developments
- 12. Strategic Recommendations
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