The Fluoroelastomer Market refers to the global industry involved in the production and distribution of fluoroelastomer materials. Fluoroelastomers are synthetic rubber-like materials with exceptional resistance to heat, chemicals, oils, and solvents. They are primarily used in industries that require high-performance elastomers for sealing, gaskets, and other applications in extreme environments. The reports 2023 research report offers an analytical view of the industry by studying different factors like fluoroelastomers market growth, consumption volume, Market Size, Revenue, Market Share, Market Trends, and Expert Review. According to the new market research report "Fluoroelastomers Market by Type (FKM, FVMQ, FFKM), Application (O-rings, seals gaskets, Hoses), End-use (Automotive, Aerospace, Chemicals, Oil Gas, Pharmaceutical Food, Energy Power) and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Fluoroelastomers Market size is projected to grow from USD 1.6 billion in 2020 to USD 1.8 billion by 2025, at a CAGR of 2.5%% between 2020 and 2025. The growth is attributed to increasing demand for more fuel-efficient vehicles, strict emission norms in the auto industry, and growth in major end-use industries.
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Browse in-depth TOC on "Fluoroelastomers Market"
220 – Market Data Tables
33 – Figures
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Fluoroelastomer Market Key Players:
The Chemours Company (US), Solvay SA (Belgium), and 3M (US), Asahi Glass Company (Japan), Daikin Industries (Japan), and Gujarat Fluorochemicals Limited (India) are the key players operating in the fluoroelastomers market. Expansions, acquisitions, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the fluoroelastomers market.
Chemours has a strong position in the fluoroelastomers market. The company produces and markets fluoroelastomers under the brand name, Viton. These fluoroelastomers are used in automotive, consumer electronics, chemical processing, oil and gas, petroleum refining and transportation, and aircraft and aerospace applications. The company has entered into a joint venture with Zhonghao Chenguang Research Co. (China), by the name, Chemours Chenguang Fluoromaterials (Shanghai) Co. in February 2015. This company is involved in marketing fluoroelastomer products under the Chenguang and Viton brands. This increased the company’s reach in the Asia Pacific market. Also, in August 2015, Chemours launched a new grade Viton, VTR-9307 with high temperature and chemical resistance along with high acid resistance. This has increased its usability in automotive applications such as EGR sensors, Positive Crankcase Ventilation (PCV), and diesel particulate filters, in addition to O-rings and sleeves for air flow elements.
Solvay is a global chemical company that manufactures fluoroelastomers under the brand name Tecnoflon®. Tecnoflon® products are designed to provide excellent thermal stability, chemical resistance, and durability in demanding applications, particularly in the automotive and energy sectors.
3M is a diversified technology company that produces various products, including fluoroelastomers. Their fluoroelastomer brand, 3M Dyneon™, offers high-performance sealing solutions for industries such as automotive, aerospace, and chemical processing.
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Fluorocarbon type segment estimated to lead the fluoroelastomers market in 2019
Fluorocarbon (FKM) accounted for the largest share in the overall fluoroelastomers market. The basic grades of fluorocarbon elastomers are based on VDF and HFP monomers and are referred to as FKM in ASTM standards and FPM in ISO standards. It is used widely to manufacture O-rings and seals gaskets, owing to their low cost and high resistance to oxygen, ozone, and elevated temperatures.
The automotive industry estimated to be leading consumer of fluoroelastomers
The automotive industry led the overall fluoroelastomers market in 2019, both in terms of value and volume. The reason for the industrial segment leading the market is due to the growing demand for more fuel-efficient vehicles, stringent emission norms adopted by the auto industry, and products that can perform better than conventional rubber.
APAC projected to account for the largest share of fluoroelastomers market during the forecast period in terms of volume.
APAC is projected to have the largest share in the global fluoroelastomers market, in terms of volume, from 2020 to 2025. APAC has some of the leading vehicle manufacturing countries such as China, India, and Japan. Apart from that, these countries also have a huge chemical industry. These factors make the region the largest consumer of fluoroelastomers.
