FMI has estimated the APAC Fluoroelastomer market to reach a valuation of US$ 703.1 Mn in 2022. Sales prospects of Fluoroelastomer is expected to witness a steady growth rate of 5.2% and is expected to top a valuation of US$ 1,156.3 Mn by 2032.
Fluoroelastomers are a form of synthetic rubber that provides exceptional resistance to chemicals, oil, and heat in addition to an expected service life exceeding 200°C. Due to the absence of saturation, this material has remarkable thermal stability, a high fluorine to hydrogen ratio, and superior oil resistance compared to other rubbers.
Attributes
Details
Fluoroelastomer Sales (2021A)
US$ 672.1 Million
Fluoroelastomer Demand (2022E)
US$ 703.1 Million
Fluoroelastomer Market Projections (2032F)
US$ 1,156.3 Million
Value CAGR (2022 to 2032)
5.2%
Collective Value Share: Top 3 Countries (2022E)
65%
Due to their exceptional heat resistance, sealing capabilities, and mechanical attributes, fluoroelastomers are frequently employed in the automotive industry. Fluoroelastomers have a range of operating temperatures from -26 °C to 205-230 °C (with the exception of a few that can operate at a temperature of 3270 °C) for extended lengths of time. Fluoroelastomers can operate at very high temperatures for brief periods. APAC Fluoroelastomer market is accounted with 49% of global Fluoroelastomer market.
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2016-2021 Fluoroelastomer Market Outlook Compared to 2022-2032 Forecast
The market of Fluoroelastomer witnessed a CAGR of 4.6% over the historical period of 2016 and 2021. Significant growth of various end-use industries, Fluoroelastomer has led to an increased demand for Fluoroelastomer over the historical period. Automotive and industrial industry are the largest consumers fluoroelastomers APACly, and due to the COVID 19 crisis as these industries have seen a significant decline in their growth. Supply and production from these industries is get decline. After the pandemic situation is recoverd and production and supply chain is get back to the track which lead to growth in the market.
However as per the current survey conducted by FMI, the forecast growth outlook for the Fluoroelastomer is to remain around 5.2% for the period of 2022 and 2032. Application in various end-use industries such as use of fluoroelastomers in medical, automotive, and electrical industries. Increasing production of end-use products that use Fluoroelastomer as a composite material is expected to drive the demand for Fluoroelastomer over the forecast period.
For instance, demand for automotive products is increasing APACly, with around 5%-7% annual growth. Increasing production to meet APAC demand is linked to a rise in demand for Fluoroelastomer.
Market Dynamics
Rising Demand from various end-use industries
Fluoroelastomers are employed in specialised items like hoses and gaskets that are needed by industries like automotive and aerospace. They serve as the jacketing materials in fibre optic cables as well. Fluoroelastomers are used by the oil and gas industry as contamination and sealing solutions in harsh conditions. The sector for fluoroelastomers is currently experiencing strong expansion, attributable to rising aerospace investment. Fluoroelastomers are widely used in the aerospace industry for insulation and a variety of other applications.
To meet the rising demand for more fuel-efficient automobiles, a number of automotive manufacturers are altering the designs of their vehicles and putting more of an emphasis on lightweighting through the use of alternative materials. As a result, the size of the power train, engine, and engine compartments is being reduced by automobile manufacturers. To increase fuel efficiency in addition to these, the modern air management system is also included.
Incompatibility of fluoroelastomers with certain ester solvents
The greatest barrier to the overall expansion of the fluoroelastomers sector is thought to be the incompatibility of fluoroelastomers with certain ester solvents, such as ethyl acetate, amines, and organic acids that are heavily used in the chemical industries.
During the anticipated period, it is also anticipated that variations in overall performance with regard to the relevant application and end-user will restrain the market expansion for fluoroelastomers. When exposed to extreme temperatures, some fluoroelastomers quickly disintegrate and release hydrogen fluoride gas. Additionally, it is believed that the non-biodegradable quality is the main factor limiting the market's expansion for fluoroelastomers.
Rising Demand of fluoroelastomers is creating ample growth opportunities
During the projection period, manufacturers are leaning toward creating fluoroelastomers that are industry-specific and built with properties like exceptional heat and chemical resistance. Such initiatives are improving fluoroelastomers' overall performance, which is increasing their application in end-user industries, including the pharmaceutical and food processing sectors.
It is predicted that the field will see new prospects when existing fluoroelastomers are improved for better performance. A large number of businesses have begun producing fluoroelastomers that are approved for use in food and pharmaceuticals. In 2019, AGC Chemical obtained Food Contact Notifications from the US FDA (Food and Drug Association) for three of its fluoroelastomer products: namely, the AFLAS Series 100S, 100H, and 150P.
The use of fluoroelastomers in the automobile industry is being driven by the growing development of the sector and the growing investments in it. because they are also used in the manufacturing of some automobile parts.
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Country-wise Insights
What is the demand outlook for Fluoroelastomer market in the China.?
China is manufacturing hub for automotive industry and China is expected to remain one of the prominent consumers of Fluoroelastomers APACly owing to the increasing demand for Fluoroelastomer from oil & gas, pharmaceutical & food, energy & power and others end-use industries. The country is expected to account for nearly 60%-65% value share in the market.
Significant increase in the demand from industrial and oil & gas sector is bolstering the growth of Fluoroelastomer demand. China is increasing their EV’s production site to fulfil the demand of EV’s APACly which create the adequate environment for fluoroelastomer market.
What will be the Growth Outlook of the Fluoroelastomer Market in the India?
India is likely to emerge as one of the strongest markets for future automotive sales. With the expanding manufacturing base and soaring investments in advanced technologies for industrial production, the automotive industry is likely to display positive growth & is likely to bring about a new era of automobiles. India accounted for 15%-18% value share in the market.
India are becoming more & more stringent regarding tp emission standards.The Indian government has said that the BS6 emission standards will be put into effect by April 2020, making it necessary for automakers to create BS6-compliant engines and use high-performance materials like fluoroelastomers for fuel interface components and other elements to cut emissions.
This growth in India is primarily attributable to the increasing presence of Fluoroelastomer manufacturers and the increasing adoption of Fluoroelastomer among various end-user industries.
Category-wise Insights
What factors are boosting the demand for Fluoroelastomer type?
Based on type, the APAC Fluoroelastomer market is segmented into Fluorocarbon Elastomers, Fluorosilicone Elastomers and Perfluorocarbon Elastomers. Fluorocarbon Elastomers segment is anticipated to remain one of the key types in the market, accounting for more than 80% of the APAC sales of Fluoroelastomer in 2022 and is expected to continue its dominance in the APAC Fluoroelastomer market during the forecast period.
O-rings, gaskets, shafts, fuel hoses, joints, and other electrical connector parts that are subjected to extreme temperatures and pressure variations during flights are typical applications for FKM in the aerospace industry, fluorocarbon elastomers synthetic rubbers help power high-performance engines that combine oil and chemicals with high temperatures. This growth is primarily attributable to its increased use in the manufacture of components for use in harsh environments and its lower cost than the competition.
Which is expected to be a key end-use industry for Fluoroelastomer Market?
Based on end-use industry, the APAC fluoroelastomer market is categorised into automotive, industrial, aerospace, semiconductor, oil & gas, pharmaceutical & food, energy & power, and others. The automotive sector is expected to remain a top consumer of fluoroelastomers and to witness a significant growth rate of 12% over the forecast period.
Fluoroelastomers are anticipated to be used primarily by the automobile industry, both in terms of volume and dollar value. The automotive sector uses the majority of the fluoroelastomers that are produced. Components for vehicles' drive trains and fuel management systems are made from fluoroelastomers. Because they contribute to lowering emissions and improving fuel efficiency, they are preferred over traditional rubber.
As a result, with increased automotive industry development projects around the world, the automotive sector is expected to remain a major consumer of fluoroelastomers.
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Competitive Landscape
The introduction of sustainable products will reduce the carbon footprint, and major manufacturers are investing in R&D to develop novel products with improved applications. Companies are concentrating on geographical and capacity expansions in emerging markets to strengthen their position in the market. Leading companies are also concentrating on lanching new products and acquiring businesses to broaden their customer base.
For instance:
In October 2022, The Biesterfeld Group, located in Hamburg, has established a joint venture by investing heavily in GME Chemicals, a company based in Singapore.
In 2022, Solvay developed new, high-performance Technoflon peroxide-curable fluoroelastomers (FKM) without the use of fluorosurfactants. These materials will help boost capacity and build a more sustainable future in sectors like automotive and aerospace, chemical processing, oil and gas, pharmaceuticals, and electronics.
in April 2019, Greene Tweed, a provider elastomers, launched a new-generation ultra-flow temperature and chemical-resistant fluroelastomer.
Scope of Report
Attribute
Details
Forecast Period
2022 to 2032
Historical Data Available for
2016 to 2021
Market Analysis
USD Million for Value and Tons for Volume
Key Countries Covered
China
India
Japan
ASEAN
Oceania
Key Segments Covered
Product Type, Application, End-Use Industry, and Region
Key Companies Profiled
3M company
DuPont
Daikin Industries
Honeywell International Inc.,
The Chemours Company
Solvay SA
Fluorochemicals Limited
Dongyue Group
Halopolymer OJSC
James Walker & Co.
Shin-Etsu Chemicals
Viton
Tecnoflon
Dyneons
AFLAS
Gujarat Fluorochemicals Ltd
FKM & Elasftor, Shin-Etsu Chemical Co., Ltd
SIFEL
Shanghai 3F New Materials Co., Ltd
Dynamix
Eagle Elastomers Inc
Shanghi Fluoron Chemicals Co.
Precision Polymer Engineering/IDEX
Marco Rubber & Plastics, LLC
Asahi Glass company Ltd., etc
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Fluoroelastomer Market Segmentation
By Type:
Fluorocarbon Elastomers
Fluorosilicone Elastomers
Perfluorocarbon Elastomers
By Application:
O-rings
Seals & Gaskets
Hoses
Complex Molding Parts
Others
By End-Use Industry:
Automotive
Industrial
Aerospace
Semiconductor
Oil & Gas
Pharmaceutical & Food
Energy & Power
Others
By Region:
Asia & Pacific
Frequently Asked Questions
What is the current size of the APAC Fluoroelastomer Market?
The APAC market of Fluoroelastomer is estimated to reach a valuation of US$ 703.1 Mn in 2022.
What are the key end-use industries in the Fluoroelastomer market?
Industrial and automotive are the key end-use industries of Fluoroelastomer. Together, these industries consume about 65%-70% of the APAC Fluoroelastomer market.
Who are the key players in the APAC market for Fluoroelastomer?
According to FMI analysis, 3M company, DuPont, Daikin Industries, Honeywell International Inc., The Chemours Company, Solvay SA, Fluorochemicals Limited, Dongyue Group, Halopolymer OJSC.,Tecnoflon, Dyneons, AFLAS, Gujarat Fluorochemicals Ltd , Dynamix are identified as the key manufacturers in the Fluoroelastomer market.
What is the estimated market share of the key players in the APAC Fluoroelastomer market?
Key players in the APAC Fluoroelastomer market are expected to account for about 55 - 60% of the overall market share.
Which are the key countries driving the APAC Fluoroelastomer market demand?
The top countries driving the APAC Fluoroelastomer demand are China, Japan and India.
