The global fluoroelastomer market was valued at around USD 1,467.6 million in 2022 and it is forecast to expand at a steady CAGR of 4.9% during the forecast period of 2022 and 2032. Overall fluoroelastomer sales are anticipated to total a market valuation of USD 2,374.8 million by 2032.
Robust growth of end-use industries such as aerospace, automotive, consumer electronics, and oil & gas is a key factor providing impetus to the global fluoroelastomer industry.
Fluoroelastomers also known as fluorinated elastomers are a type of synthetic rubber that is widely used for very high-temperature operations across diverse industries, owing to its exceptional resistance to heat, oil, and chemicals.
Fluoroelastomers are extremely heat, high-temperature, and chemical change resistant. These fluoro rubber materials (fluoroelastomers) are manufactured by copolymerizing numerous combinations of vinylidene fluoride, hexafluoropropylene, tetrafluoroethylene, and chlorotrifluoroethylene.
In recent years, fluoroelastomers have emerged as ideal alternatives to conventional rubbers due to their superior mechanical and chemical properties. They are being increasingly used in applications such as sealing.
The global fluoroelastomer market is predicted to grow considerably over the projection period as a result of fluoroelastomers’ widespread utilization in the automobile industry owing to their superior mechanical, sealing, and heat resistance characteristics.
The aircraft industry is expected to witness high demand for specialist fluoroelastomer products during the forecast period, including hoses and gaskets. Similarly, market development is anticipated to be fueled by growing demand for products with outstanding mechanical properties, such as resistance to high temperatures and degradation, and great electrical insulating properties.
Thanks to their outstanding chemical resistance, including resistance to aromatic and aliphatic hydrocarbons, fluoroelastomers have become the most widely used materials across industries such as automotive and aerospace.
Fluorocarbon elastomers are widely utilized in applications to withstand ozone attacks and harsh chemicals. Specialty-grade fluorocarbons, on the other hand, can offer high fluorine content with low-temperature characteristics.
Right from making highly efficient seals and envelope for cables to preventing corrosion, the application area of fluoroelastomers keeps widening, and this in turn is accelerating growth in the global market.
Viton Extreme ETP-600S is one of the popular fluoroelastomers which possess great resistance to bases, hydrocarbons, alcohol, esters, ketones, and other solvents. It also exhibits compression sets and physical qualities and is very resistant to high temperature, steam, and difficult process conditions.
| Attribute | Key Insights |
|---|---|
| Fluoroelastomer Market Base Value (2021A) | USD 1,408.2 million |
| Estimated Market Value (2022E) | USD 1,467.6 million |
| Projected Market Value (2032F) | USD 2,374.8 million |
| Value-based CAGR (2022 to 2032) | 4.9% |
| Collective Value Share: Top 3 Countries (2022E) | 47.6% |
Fluoroelastomer sales increased at a CAGR of 2.4% between 2017 and 2021. During the historical period, the fluoroelastomer business was significantly impacted due to the shutdown of the aviation and electronics sectors and constrained supply chains caused by the pandemic.
However, with the resumption of functioning of industries such as aerospace, electrical & electronics, oil & gas, energy, and others, fluoroelastomers demand is anticipated to expand at a CAGR of 4.9% over the forecast period.
Growing usage of fluoroelastomers in a variety of commercial processes, including gaskets, and O-ring seals in the petroleum, automobile, and food production sectors will boost the market during the assessment period.
Similarly, novel uses for perfluorocarbon elastomers are anticipated to open up a lot of market prospects over the next several years.
A significant factor positively influencing fluoroelastomer sales is the surging demand for fuel-efficient automobiles. Numerous automakers are altering their design strategies and emphasizing lightweight through material substitution to satisfy the growing demand for more fuel-efficient vehicles which will spur demand for materials such as fluorinated elastomers during the forecast period.
Increasing Automotive Production and Rising Demand for fuel-efficient Vehicles to Boost Market
Globally, the production of automobiles has increased dramatically during the past several years and the trend is expected to further escalate during the assessment period. Polymer composites will be more in demand due to their key characteristics, such as low weight, high strength, and elasticity.
To minimize fuel consumption, leading automakers are focusing on practical ways to shrink powertrains, engines, and engine compartments. These firms are also concentrating on different types of materials to fulfill the requirements of electric car parts.
Products from fluoroelastomers used in automotive components, such as seals, hoses, high-voltage cables, gaskets, and O-rings offer high flexibility and elasticity in higher temperatures compared to products made from other rubbers. Fluoroelastomer-based products maintain their significant properties when exposed to synthetic lubricants and harsh chemicals as well as to powertrain fluids and fuels.
Government requirements on automobile fuel economy are becoming more stringent, which is pressuring OEMs to create lightweight cars. This is increasing demand for composite materials such as fluoroelastomers. Hence, the rapid growth of the automobile industry worldwide coupled with growing demand for lightweight and fuel-efficient vehicles will play a key role in fostering fluoroelastomer sales over the projection period.
Complete Dependency on Petrochemical Feed Stocks to Constraint Market Development
Vital raw materials for the production of fluoroelastomers are petroleum-based feedstock products. Volatility in the prices of feedstock will result in price fluctuations in polymers, which, to a large extent, will directly impact the final price of the product. These raw materials, which are extensively used by end-use industries, are often generated from refinery processes and petrochemical feedstock. The production of fluoroelastomers requires a significant amount of both petrochemical and non-petrochemical feedstock.
In Europe, owing to fluctuations in crude oil & gas prices, a rise in raw material costs has been witnessed in the polymer sector in the last couple of years. This may act as a restraint for petrochemical feedstock, thereby hampering the growth of the fluoroelastomer market. Key manufacturers are facing price adjustments and restructuring to maintain profit margins and strengthen their market position.
To reduce emissions and effluents generated by the chemical industry, many governments have imposed closures and production regulations, thereby limiting the availability of pigment intermediates. This will affect the supply chain, leading to price escalations.
Robust Growth of Automotive and Aerospace Industries Propelling Fluoroelastomers Demand in the USA
According to Future Market Insights (FMI’s) latest analysis, the USA fluoroelastomer market is projected to expand at 4.4% CAGR during the forecast period (2022 to 2032). Currently, the USA holds around 21.5% of the total value share in the global market.
Increased investment in enhancing fluoroelastomer manufacturing capacity, implementation of stringent fuel emissions rules and regulations, and robust growth of automobile and aerospace sectors are key factors driving fluoroelastomer demand in the United States.
Over the years, rising carbon emission levels and enforcement of strict regulations have prompted the USA automotive manufacturers to shift their preference from heavy materials towards lighter ones possessing excellent heat and chemical resistance such as fluoroelastomers.
The addition of these materials has significantly reduced the overall weight of vehicles, thereby improving their fuel efficiency and reducing emission levels. Driven by this, fluoroelastomer sales across the country will continue to grow at a steady pace throughout the projection period.
Growing Popularity of Electric Vehicles Fostering Fluoroelastomer Sales in China
Currently, China accounts for a sizable value share of 20.4% of the global fluoroelastomer industry and it is expected to accelerate at around 5.8% CAGR over the next ten years. The rapid expansion of industries such as oil & gas, energy & power, pharmaceutical & food, etc. is a key factor driving demand for fluoroelastomers across China.
Similarly, due to considerable capital investments made in the coatings industry, sales of fluoroelastomers across China are expected to grow at a robust pace over the projection period.
Consequently, increasing production and sales of electric vehicles will create a conducive environment for the development of the fluoroelastomer industry in China during the projection period.
Fluorocarbon Elastomers Remain the Most Sought After Product Type in the Market
Based on product type, the market is segmented into fluorosilicone, fluorocarbon, and perfluoroelastomers. Among these, the fluorocarbon segment holds the dominating share of 73.7% of the global fluoroelastomers industry. This is attributed to the rising usage of fluorocarbons across several industries owing to their specific properties including enhanced stability, non-flammability, and hydrophobicity.
Fluorocarbon or fluorocarbon elastomer provides the highest cross-link production for a particular product. The thermal stability and mechanical properties of optimum compounds formed from fluorocarbon elastomers that are irradiated under perfect conditions are much better than those of chemical curing procedures.
Fluorocarbons are widely used in vehicle and airplane parts, which explains their domination in the market. They have become key components in the creation of seals because of their qualities, which include resistance to chemicals and heat, low compression set, and excellent aging characteristics.
Most of the Fluoroelastomer Demand Emerged from the Automotive Industry
Based on the end-use industry, the automotive segment currently dominates the global fluoroelastomers market with an impeccable market value share of 46.8%. This is attributed to the rising demand for lightweight and fuel-efficient vehicles and the growing adoption of fluoroelastomers across the thriving automotive industry worldwide.
Fluoroelastomers are frequently used in the automotive sector because of their remarkable heat resistance, sealing ability, and mechanical characteristics. Fluoroelastomer is integrated into vehicle parts including drive trains and fuel handling systems to increase fuel economy and cut pollution.
A rapid spike in growth in regions like the Asia Pacific is predicted to expand automotive manufacturing, which will elevate the demand for fluoroelastomers because they offer valuable properties.
Key fluoroelastomer manufacturers are focusing on increasing their production capabilities to meet the rising demand for fluoroelastomers from several end-use industries. New product launches, heavy investments in research and development activities, partnerships, acquisitions, and facility expansion are some of the frequent strategies adopted by leading fluoroelastomer manufacturing companies.
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| Attribute | Details |
|---|---|
| Current Market Size (2022) | USD 1,467.6 million |
| Projected Market Size (2032) | USD 2,374.8 million |
| Anticipated Growth Rate (2022 to 2032) | 4.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD million for Value and Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Product Type, End-use Industry, and Region |
| Key Companies Profiled | The Chemours Company; 3M; Daikin Industries; Gujarat Fluorochemicals Limited; Zhejiang Fluorine Chemical New Materials Co., Ltd; Halopolymer OJSC; James Walker & Co; Shin-Etsu chemicals; AGC Chemical Inc.; Solvay SA |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunity, and Threat Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Table 01: Global Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 02: Global Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 03: Global Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Region, 2017 to 2032
Table 04: North America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 05: North America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 06: North America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 07: Latin America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 08: Latin America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 09: Latin America Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 10: Europe Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 11: Europe Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 12: Europe Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 13: East Asia Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 14: East Asia Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 15: East Asia Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 16: South Asia Pacific Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 17: South Asia Pacific Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 18: South Asia Pacific Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Table 19: MEA Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Country, 2017 to 2032
Table 20: MEA Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By Product Type, 2017 to 2032
Table 21: MEA Market Size (US$ Million) and Volume (Tons) Analysis and Forecast By End to Use Industry, 2017 to 2032
Figure 01: Global Market Historical Volume (Tons), 2017 to 2021
Figure 02: Global Market Current and Forecast Volume (Tons), 2022 to 2032
Figure 03: Global Market Historical Value (US$ Million), 2017 to 2021
Figure 04: Global Market Current and Forecast Value (US$ Million), 2022 to 2032
Figure 05: Global Market Incremental $ Opportunity (US$ Million), 2022 to 2032
Figure 06: Global Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 07: Global Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 08: Global Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 09: Global Market Absolute $ Opportunity by Fluorosilicone Segment, 2017 to 2032
Figure 10: Global Market Absolute $ Opportunity by Fluorocarbon Segment, 2017 to 2032
Figure 11: Global Market Absolute $ Opportunity by PerSegment, 2017 to 2032
Figure 12: Global Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 13: Global Market Y to o Y Growth Projections By End to Use Industry, 2022 to 2032
Figure 14: Global Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 15: Global Market Absolute $ Opportunity by Aerospace Segment, 2017 to 2032
Figure 16: Global Market Absolute $ Opportunity by Automotive Segment, 2017 to 2032
Figure 17: Global Market Absolute $ Opportunity by Chemicals Segment, 2017 to 2032
Figure 18: Global Market Absolute $ Opportunity by Electronics Consumer and Wearables Segment, 2017 to 2032
Figure 19: Global Market Absolute $ Opportunity by Oil & Gas Energy Segment, 2017 to 2032
Figure 20: Global Market Absolute $ Opportunity by Pharmaceutical & Food Segment, 2017 to 2032
Figure 21: Global Market Absolute $ Opportunity by Others Segment, 2017 to 2032
Figure 22: Global Market Share and BPS Analysis By Region, 2022 & 2032
Figure 23: Global Market Y to o Y Growth Projections By Region, 2022 to 2032
Figure 24: Global Market Attractiveness Analysis By Region, 2022 to 2032
Figure 25: Global Market Absolute $ Opportunity by North America Segment, 2017 to 2032
Figure 26: Global Market Absolute $ Opportunity by Latin America Segment, 2017 to 2032
Figure 27: Global Market Absolute $ Opportunity by Europe Segment, 2017 to 2032
Figure 28: Global Market Absolute $ Opportunity by East Asia Segment, 2017 to 2032
Figure 29: Global Market Absolute $ Opportunity by South Asia Pacific Segment, 2017 to 2032
Figure 30: Global Market Absolute $ Opportunity by MEA Segment, 2017 to 2032
Figure 31: North America Market Share and BPS Analysis By Country, 2022 & 2032
Figure 32: North America Market Y to o Y Growth Projections By Country, 2022 to 2032
Figure 33: North America Market Attractiveness Analysis By Country, 2022 to 2032
Figure 34: North America Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 35: North America Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 36: North America Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 37: North America Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 38: North America Market Y to o Y Growth Projections By End-to Use Industry, 2022 to 2032
Figure 39: North America Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 40: Latin America Market Share and BPS Analysis By Country, 2022 & 2032
Figure 41: Latin America Market Y to o Y Growth Projections By Country, 2022 to 2032
Figure 42: Latin America Market Attractiveness Analysis By Country, 2022 to 2032
Figure 43: Latin America Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 45: Latin America Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 46: Latin America Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 47: Latin America Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 48: Latin America Market Y to o Y Growth Projections By End-to Use Industry, 2022 to 2032
Figure 49: Latin America Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 50: Europe Market Share and BPS Analysis By Country, 2022 & 2032
Figure 51: Europe Market Y to o Y Growth Projections By Country, 2022 to 2032
Figure 52: Europe Market Attractiveness Analysis By Country, 2022 to 2032
Figure 53: Europe Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 54: Europe Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 55: Europe Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 56: Europe Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 57: Europe Market Y to o Y Growth Projections By End-to-Use Industry, 2022 to 2032
Figure 58: Europe Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 59: East Asia Market Share and BPS Analysis By Country, 2022 & 2032
Figure 60: East Asia Market Y to o to Y Growth Projections By Country, 2022 to 2032
Figure 61: East Asia Market Attractiveness Analysis By Country, 2022 to 2032
Figure 62: East Asia Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 63: East Asia Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 64: East Asia Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 65: East Asia Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 66: East Asia Market Y to o to Y Growth Projections By End to Use Industry, 2022 to 2032
Figure 67: East Asia Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 68: South Asia Pacific Market Share and BPS Analysis By Country, 2022 & 2032
Figure 69: South Asia Pacific Market Y to o to Y Growth Projections By Country, 2022 to 2032
Figure 70: South Asia Pacific Market Attractiveness Analysis By Country, 2022 to 2032
Figure 71: South Asia Pacific Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 72: South Asia Pacific Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 73: South Asia Pacific Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 74: South Asia Pacific Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 75: South Asia Pacific Market Y to o to Y Growth Projections By End to Use Industry, 2022 to 2032
Figure 76: South Asia Pacific Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
Figure 77: MEA Market Share and BPS Analysis By Country, 2022 & 2032
Figure 78: MEA Market Y to o Y Growth Projections By Country, 2022 to 2032
Figure 79: MEA Market Attractiveness Analysis By Country, 2022 to 2032
Figure 80: MEA Market Share and BPS Analysis By Product Type, 2022 & 2032
Figure 81: MEA Market Y to o Y Growth Projections By Product Type, 2022 to 2032
Figure 82: MEA Market Attractiveness Analysis By Product Type, 2022 to 2032
Figure 83: MEA Market Share and BPS Analysis By End to Use Industry, 2022 & 2032
Figure 84: MEA Market Y to o Y Growth Projections By End to Use Industry, 2022 to 2032
Figure 85: MEA Market Attractiveness Analysis By End to Use Industry, 2022 to 2032
The global fluoroelastomer market is expected to progress at 4.9% CAGR until 2033.
The overall fluoroelastomer market is projected to reach around USD 2,374.8 million by 2033.
Based on product types, the fluorocarbon fluoroelastomer sales are poised to remain lucrative at 73.7% market share.
China dominates the Asia Pacific market and is projected to advance at 5.8% through 2033.
Automotive segment constitutes the leading segment with 46.8% market share.
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Fluoroelastomer Market
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