Fluoroelastomers Market Volume Analysis, Segments, Value Share and Key Trends 2019-2029
The study on the global fluoroelastomers market provides granular assessments of key growth dynamics and opportunities in the market. These include a comprehensive analysis of the regulatory and strategic landscape during the historical period on the global level and across numerous regions. Fact.MR offers data-driven insights through the fluoroelastomers market sizing and projections of various segments—shares and size—during the forecast period. The insights offered in the report are aimed at guiding companies and players to identify new growth avenues, winning imperatives, and untapped regional markets.
The global fluoroelastomers demand reached over 26,000 tons in 2018 as per the new research study carried out by Fact.MR and the market is valued at US$ 1 billion. According to the report, the fluoroelastomers market is expected to grow at 2.7% CAGR over the forecast period. The growth can be attributed to the developments in the automotive industry, replacement of old non-fluoroelastomers material in the automobiles and increasing adoption of fluoroelastomers by Automobile manufacturers with the implementation of stringent automotive emission standards across the globe. With the global automotive industry being virtually flat in 2018, the industry is expected to bounce back in the short term forecast as per the industry experts. Regional slowdown in the automotive industries is also expected to come back to life with developments towards regional stability and decreasing tariff wars between global economies. For instance, Germany experienced disruption in car production due to the introduction of new WLTP emission standards. With the developments in new compatible engines & transmission systems, the vehicle production is expected to get normal in Germany.
In the making of the fluoroelastomers market study, the following are taken into:
- History Period: 2014 – 2018
- Base Period: 2014
- Estimated Year: 2029
- Forecast Period: 2019 – 2029
Interested market participants and readers can peruse the global fluoroelastomers market report to get insights into and evaluation of:
- Key growth drivers and restraints, trends and opportunities, and major challenges influencing the adoption rate of offerings by various players in the fluoroelastomers market
- Major research and product development projects
- Promising technologies and favorable regulations in key regions
- Segments that will lose or gain shares in the next few years
- Value chain of key vendors and manufacturers
The fluoroelastomers market report provides estimations and the market sizing and prospects of various regions. To this end, the study makes in-depth segmentation of the following key regions:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (France, U.K.)
- South Asia and Oceania (Thailand, Indonesia)
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The study also takes a closer look at the prevailing regulatory and macroeconomic frameworks and in the key country markets.
Fact.MR has been closely tracking shares and size, and factors shaping the demand and consumption dynamics of various offering by key players in the fluoroelastomers market over the past several years. To this end, the study segments the fluoroelastomers market on the following types:
- FKM Fluoroelastomers
- FMVQ Fluoroelastomers
- FFKM Fluoroelastomers
The report, in order to offer a comprehensive assessment of the growth dynamics shaping the prospects of end users, segments the overall fluoroelastomers market into:
- Chemicals & Refineries
Developments in New Grades of Fluoroelastomers to Create Lucrative Opportunities.
Fact.MR opines that the development in the new grade of fluoroelastomers are creating attractive opportunities of growth in the fluoroelastomers market. Companies are coming up with new cross-linked combinations of fluoroelastomers to increase the areas of application. For example, AGC Chemicals, one of the leading manufacturers of fluoroelastomers, has developed a new series ALFAS 150E, for insulating applications in high voltage charging cables for electric vehicles. As per company claims, the product has started gaining popularity and is being adopted by some of the electric vehicle manufacturers. The product is expected to increase the market share of the company over the mid-term forecast due to this valuable development. Other manufacturers are also expected to follow such strategies to develop new grades and types of fluoroelastomers to widen the application areas of fluoroelastomers. Some of the manufacturers have also developed specific grades of fluoroelastomers as per region and specific applications in end–use industries. For instance, Daikin Chemicals offers seals made from its fluoroelastomers products for application as insulation oil cap for bullet train lines. This application can further be incorporated in other regions that are coming up with Bullet train projects, thus increasing the demand for fluoroelastomers in the upcoming years.
Biggest Production Hub for Fluoroelastomers: Status to be Retained by East Asia
The East Asia region has been the largest consumer of fluoroelastomers in the recent years and is expected to retain its status as largest consumer & producer of fluoroelastomers over the forecast period. Many Regional as well as global players in fluoroelastomers market have announced the production capacity expansions in the East Asian region to meet the rising demand in the local as well as neighboring regions such as India in South Asia. In 2018, Solvay announced the capacity expansion of its facilities in China and Italy for its fluoroelastomers products traded under the brand name of Tecnoflon. Local players have also hinted at increasing the production. Shandong Huaxia Shenzhou New Material Co.Ltd, a China based company, has mentioned its plans of fluoroelastomers capacity expansion to 10,000 tons/annum in its 13th five year plan. The growth in the East Asia market can be attributed to the growth of the automobile industry in the region. Macroeconomic factors such as rise in population, increase in disposable income have also driven the fluoroelastomers market in the region. The Automotive industry is expected to grow at a rate of 2.5% to 3% in the region over the forecast period, and it is most likely to drive the market in the region. New developments in applications such as fluoroelastomers band in high-end smart watches is also expected to increase the demand for fluoroelastomers over the forecast period. However, development of alternative materials over the forecast period can affect the fluoroelastomers market.
Detailed profiling of the competitive landscape include following players:
- The Chemours Company
- Solvay S.A.
- AGC Inc
- Daikin Industries
- FUDI New material
- Gujarat Fluorochemicals Ltd
- Zhejiang Huanxin Fluoro Material Co.,Ltd.
- Jiangsu meilan chemical co., ltd.
- Shandong Huaxia Shenzhou New Material Co.Ltd
Fact.MR strives to offer market analytics and business intelligence solutions to guide businesses in better strategy formulations in the fluoroelastomers market.
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The fluoroelastomers market report will improve the revenue impact of businesses in various industries by:
- Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the fluoroelastomers market
- Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global fluoroelastomers market and offers solutions
- Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
- Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
- Helping leading companies make strategy recalibrations ahead of their competitors and peers
- Offers insights into promising synergies for top players aiming to retain their leadership position in the fluoroelastomers market.