Fluoroelastomers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Fluoroelastomers Market is segmented by Product Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers, and Perfluorocarbon Elastomers), Application (Diaphragms, Valves, O-rings, Seals and Sealants, and Other Applications), End-user Industry (Automotive, Aerospace, Oil and Gas, Industrial, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The report offers the market size and forecasts for fluoroelastomers in volume (kilo tons) for all the above segments.

Market Snapshot

Fluoroelastomers Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The fluoroelastomers market is estimated to witness healthy growth, at an estimated CAGR of greater than 6% over the forecast period (2022-2027).

Due to the COVID-19 outbreak, nationwide lockdown around the world, disruption in manufacturing activities and supply chains, and production halts have negatively impacted the market. However, the conditions started recovering in 2021, thereby restoring the growth trajectory of the market studied during the forecast period.

  • The major factors driving the market's growth are rising usage in sealing applications and applications in a wide range of end-user industries.
  • Increasingly Stringent Environmental Regulations and hazardous working conditions are likely to hinder the market’s growth.
  • Novel applications of perfluorocarbon elastomers are expected to create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market and is also expected to witness the highest CAGR during the forecast period.

Scope of the Report

The fluoroelastomers market is segmented by product type, applications, end-user industry, and geography. By product type, the market is segmented into fluorocarbon elastomers, fluorosiliconeelastomers, and perfluorocarbon elastomers. By application, the market is segmented into diaphragms, valves, o-rings, seals and sealants, and other applications. By end-user industry, the market is segmented into automotive, aerospace, oil and gas, industrial, and other end-user industries. The report also covers the market size and forecasts for the fluoroelastomers market in 14 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).

Product Type
Fluorocarbon Elastomers
Fluorosilicone Elastomers
Perfluorocarbon Elastomers
Application
Diaphragms
Valves
O-rings, Seals, and Sealants
Other Applications (Fuel Hoses, Joints)
End-user Industry
Automotive
Aerospace
Oil and Gas
Industrial
Other End-user Industries (Chemical, Defense)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
South Africa
Rest of the World

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Key Market Trends

Increasing Demand for Fluorocarbon Elastomers

  • Fluorocarbon elastomers are highly fluorinated carbon-based polymers used in applications to resist harsh chemicals and ozone attacks. There are, however, specialty-grade fluorocarbons that can provide high fluorine content with low-temperature properties.
  • Fluorocarbon elastomers have become of vital importance in seal manufacturing. Due to the wide chemical compatibility, temperature range, low compression set, and excellent aging characteristics, fluorocarbon rubber is the most significant single elastomer developed over the years.
  • Fluorocarbons are more resistant to a broader range of chemicals and have excellent high-temperature properties than elastomers, owing to which they are the most preferred elastomers for sealing in the use of O-rings and other custom seals over different types of elastomers globally.
  • These elastomers are highly resistant to swelling and degradation when exposed to gasoline or UV light and ozone. With exposure to low temperatures, fluorocarbon elastomers can become hard (-4 °F) but can be serviceable at low temperatures, although these compounds are not ideal for applications requiring good low-temperature flexibility.
  • Additionally, some of the other materials are also present with the differing composition of monomers and fluorine content (65% to 71%) for improved resistance against low, high temperature, or chemicals. Fluorocarbon elastomers provide low gas permeability, making them suitable for hard vacuum service applications and many other industrial applications.
  • Owing to all these factors, the market for fluoroelastomers is expected to grow across the world during the forecast period.
Fluoroelastomers Market Trends

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market. China and India are among the largest economies in terms of GDP in the region. The countrys’ manufacturing sector has become one of the biggest production houses in the world, thus providing huge demand for fluoroelastomers.
  • Fluoroelastomers are used to manufacture hydraulic O-ring seals, check valve balls, diaphragms, industrial roll covers, V-ring packers, etc., which are used in the industrial and chemical processing industries.
  • According to the National Bureau of Statistics, China's value-added industrial output went up 9.6% Y-o-Y in 2021, up from CNY 31.3 trillion in 2020, which accounted for approximately 30% of the world’s manufacturing output.
  • JSW Steel planned to complete the construction of its new plants by the first half of 2022. The new plants are being constructed to produce 5 million ton in Dolvi, Maharastra, and 1 million ton in Vijayanagar, Karnataka. The steel company is planning to achieve a 29 million ton production capacity with the completion of greenfield capacities and the acquisition of Bhushan Power and Steel (BPSL).
  • The Chinese aircraft industry depicted significant growth over the years. According to Boeing, Chinese airlines will need 8,700 new airplanes, 1.2% higher than its previous prediction of 8,600 planes made the previous year. These would be worth USD 1.47 trillion by 2040.
  • The region is the largest automotive manufacturing hub, registering almost 60% share of the world. According to OICA, in the first nine months of 2021, the total production of vehicles stood at 32.67 million units, an increase of 11% compared to the previous year.
  • Due to all such factors, the fluoroelastomers market in the region is expected to have a steady growth during the forecast period.
Fluoroelastomers Market Share

Competitive Landscape

The fluoroelastomers market is partially consolidated in nature. Some of the major players (not in any particular order) in the market include 3M, Daikin Industries Ltd, Solvay, The Chemours Company, and AGC Inc.

Recent Developments

  • In January 2022, AGC Chemicals Americas Inc. (AGCCA) announced an expansion at its Thorndale, Pennsylvania, production facility that will add up to 50% more manufacturing, quality control lab, and office space. The multiuse facility will be configured to meet the growing needs of the current business and accommodate future production increases and new capabilities.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rising Usage in Sealing Applications

      2. 4.1.2 Applications in a Wide Range of End-user Industries

    2. 4.2 Restraints

      1. 4.2.1 Increasingly Stringent Environmental Regulations and Hazardous Working Conditions

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Fluorocarbon Elastomers

      2. 5.1.2 Fluorosilicone Elastomers

      3. 5.1.3 Perfluorocarbon Elastomers

    2. 5.2 Application

      1. 5.2.1 Diaphragms

      2. 5.2.2 Valves

      3. 5.2.3 O-rings, Seals, and Sealants

      4. 5.2.4 Other Applications (Fuel Hoses, Joints)

    3. 5.3 End-user Industry

      1. 5.3.1 Automotive

      2. 5.3.2 Aerospace

      3. 5.3.3 Oil and Gas

      4. 5.3.4 Industrial

      5. 5.3.5 Other End-user Industries (Chemical, Defense)

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Saudi Arabia

        3. 5.4.4.3 South Africa

        4. 5.4.4.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AGC Inc.

      3. 6.4.3 All Seals Inc.

      4. 6.4.4 Daikin Industries Ltd

      5. 6.4.5 Eagle Elastomer Inc.

      6. 6.4.6 Freudenberg Sealing Technologies

      7. 6.4.7 GARLOCK

      8. 6.4.8 Gujarat Fluorochemicals Limited

      9. 6.4.9 HaloPolymer

      10. 6.4.10 KUREHA CORPORATION

      11. 6.4.11 LANXESS

      12. 6.4.12 Minor Rubber Products

      13. 6.4.13 Parker Hannifin Corp.

      14. 6.4.14 Precision Associates, Inc.

      15. 6.4.15 Shanghai Fluoron Chemicals Co.Ltd

      16. 6.4.16 Solvay

      17. 6.4.17 Stockwell Elastomerics Inc.

      18. 6.4.18 The Chemours Company

      19. 6.4.19 Trp Polymer Solutions Limited

      20. 6.4.20 Zhonghao Chenguang Research Institute of Chemical Industry

      21. 6.4.21 Zrunek Gummiwaren GmbH

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Novel Applications of Perfluorocarbon Elastomers

**Subject to Availability

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Frequently Asked Questions

The Global Fluoro Elastomers Market market is studied from 2017 - 2027.

The Global Fluoro Elastomers Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

3M, DAIKIN INDUSTRIES, Ltd., Solvay, The Chemours Company, AGC Inc. are the major companies operating in Global Fluoro Elastomers Market.

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