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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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.
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.
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.
Principal Consultant
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.
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.
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.
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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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 April 2019, Greene Tweed, a provider elastomers, launched a new-generation ultra-flow temperature and chemical-resistant fluroelastomer.
| 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 |
The APAC market of Fluoroelastomer is estimated to reach a valuation of US$ 703.1 Mn in 2022.
Industrial and automotive are the key end-use industries of Fluoroelastomer. Together, these industries consume about 65%-70% of the APAC Fluoroelastomer market.
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.
Key players in the APAC Fluoroelastomer market are expected to account for about 55 - 60% of the overall market share.
The top countries driving the APAC Fluoroelastomer demand are China, Japan and India.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. APAC Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
5. Pricing Analysis
6. APAC Market Analysis and Forecast
6.1. Type
6.2. Application
6.3. End-Use Industry
7. APAC Market Analysis and Forecast, By Type
7.1. Fluorocarbon Elastomers
7.2. Fluorosilicone Elastomers
7.3. Perfluorocarbon Elastomers
8. APAC Market Analysis and Forecast, By Application
8.1. O-rings
8.2. Seals & Gaskets
8.3. Hoses
8.4. Complex Molding Parts
8.5. Others
9. APAC Market Analysis and Forecast, By End-Use Industry
9.1. Automotive
9.2. Industrial
9.3. Aerospace
9.4. Semiconductor
9.5. Oil & Gas
9.6. Pharmaceutical & Food
9.7. Energy & Power
9.8. Others
10. APAC Market Analysis and Forecast, By Region
10.1. Asia & Pacific
11. Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
12. Sales Forecast by Type, Application, and End-Use Industry for 30 Countries
13. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
14. Company Profile
14.1. 3M Company
14.2. DuPont
14.3. Daikin Industries
14.4. Honeywell International Inc.
14.5. The Chemours Company
14.6. Solvay SA
14.7. Fluorochemicals Limited
14.8. Dongyue Group
14.9. Halopolymer OJSC
14.10. James Walker & Co.
14.11. Shin-Etsu Chemicals
14.12. Viton
14.13. Tecnoflon
14.14. Dyneons
14.15. AFLAS
14.16. Gujarat Fluorochemicals Ltd
14.17. FKM & Elasftor (Shin-Etsu Chemical Co. Ltd)
14.18. SIFEL
14.19. Shanghai 3F New Materials Co. Ltd
14.20. Dynamix
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APAC Fluoroelastomer Market
