Fluoroelastomers Market Analysis - Forecasts To 2025 By Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers, and Perfluoroelastomers), By Application (O-Rings, Seals & Hoses, Gaskets, and Compound Molding Parts), By Industry (Aerospace, Chemicals, Energy and Power, Automotive, and Others), By Region (North America, Europe, Asia-Pacific, Central & South America, and Middle East & Africa), End-use Landscape, Vendor Landscape and Competitive Landscape - Global Market Estimates
Fluoroelastomers Market Insights
The global fluoroelastomers market is anticipated to witness a lucrative growth over the forecast period due to its high application in the automobile industry. Moreover, the increasing demand from aerospace, pharmaceutical & food and beverage industries of the product is anticipated to foster the demand over the forecast period.
A fluoroelastomer is a fluorocarbon-based synthetic rubber in which parts of hydrogen atoms in the polymer chain are substituted by fluorine. Along with being chemical resistant, the product holds an excellent combination of insulation and mechanical properties. Since they are highly weather resistant they are also used in extreme temperature applications.
The high chemical resistance of this product including its resistance to aliphatic and aromatic hydrocarbons are the best attributes that are expected to contribute to the growth of the global fluoroelastomers market.
Fluoroelastomers Market: Type Insights
On the basis of type, the fluoroelastomers market can be segmented into Fluorocarbon Elastomers, fluoroelastomer polymers, Fluorosilicone Elastomers, tetrafluoro ethylene/propylene rubbers & Perfluoroelastomers compounds. The market for fluoroelastomer polymers is expected to grow significantly due to its better base resistance, high heat resistance and improved low-temperature performance.
The market for Perfluoroelastomers compounds is anticipated to stimulate market growth on account of its high fluid resistance properties which makes its highly usable in in paints & coatings in manufacturing and oil & gas industries.
Fluoroelastomers Market: Application Insights
By application, the fluoroelastomers market is segmented into O-Rings, Seals & Hoses, Gaskets and Compound Moulding Parts amongst others. The O-rings segment account for the highest share owing to its high usage in automotive, aerospace, chemical processing & oil and gas production as static seals.
Fluoroelastomers Market: Industry Insights
Among the industry verticals, the automobile & the aerospace segment is expected to occupy the highest share in the fluoroelastomers market on account of the increasing use of O-ring, shaft seals and gaskets. Moreover, the chemical resistance of the product against various fuels is expected to boost its usage in fuel system applications.
The pharmaceutical and food processing industries are also anticipated to contribute significantly to the growth of the industry. This is mainly due to the anti-corrosive properties of the product coupled with highly weather resistant property which makes it favourable for bearing high temperature.
Fluoroelastomers Market: Regional Insights
The fluoroelastomers market in Asia Pacific is anticipated to witness an accelerated growth over the forecast period attributing to the rising number of automotive, pharmaceutical and food processing industries. Demand is expected to arise from countries such as China and India where there has been a significant increase in capital investments in coating industries.
North America and Europe are also expected to emerge as the key revenue generating regions. This can be associated with the growing aerospace and automotive industries in North America. In Europe, demand is expected to arise from countries such as Spain, Germany and UK due to the growing demand from the aerospace & automotive industries.
Countries in the Middle East such as Saudi Arabia are also anticipated to grow significantly as major markets due to the widespread presence of oil and gas industries in the region.
Fluoroelastomers Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from Fluoroelastomers market over the coming years. Some leading consumers of the product are Toyota Motor (Japan), Volkswagen Group (Germany), Lockheed Martin (The U.S.), and Royal Dutch Shell (Netherlands).
Fluoroelastomers Market: Competitive Scenario
Major players profiled in the fluoroelastomers market include Daikin Industries Limited (Japan), E.I. du Pont de Numerous (The U.S.), Ames Rubber Manufacturing Company (The U.S.) and Asahi Glass Company (Belgium).
Please note: This is not an exhaustive list of companies profiled in the report.
In May, 2017 Nike announced four new Apple Watch bands for Apple Watch Nike+ which along with being made of the flexible fluoroelastomer material used by Apple for its own sports bands would consist of a perforated design for ventilation and sweat management.
In April 2016, Garlock, a leading manufacturer of high-performance fluid sealing and pipeline protection products introduced a new product: Style 9938 which is a rubber sheet material that can be used in chemical, oil & gas, and other industries which require a 100% fluoroelastomer material.
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The global Fluoroelastomers Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Fluoroelastomers Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, demand forecasting, SWOT analysis of the companies, and customer analytics.
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