Global Fluoroelastomer Market was valued at USD 1.23 Billion in 2018 and is projected to reach USD 2.26 Billion by 2026, at a CAGR of 7.90%.
Owing to stringent regulations for fuel emission, fluoroelastomers are widely used in fuel system applications as they act as a barrier against evaporative emissions and as a chemical resistance against diverse fuels. Fluoroelastomer offers excellent durability. Fluoroelastomers are also gaining importance in pharmaceutical and food processing industries as they provide long term protection against high temperature and fight against corrosion. The high initial price is one of the restraining factors for the fluoroelastomer market.
Perfluoroelastomers has formed the fastest-growing segment based on the product type for the fluoroleastomer market. Manufacturing of hoses, gaskets, o-rings or complex molding parts acts as a key driver for perfluoroelastomers. In the end-use industry segment, automotive has formed the largest market with factors like use of fluoroelastomer in conventional vehicles for reducing emissions.
Asia-Pacific, North America and Europe have formed three major regions that are contributing towards the growth of fluoroelastomer market. Insulation of battery cables especially in electric vehicles that has high demand from countries like China and India is further fueling demand for fluoroelastomer in the Asia Pacific region.
Scope of the Report:
Global Fluoroelastomers Market, by Type:
Global Fluoroelastomers Market, by Application:
• Seals & Gaskets
• Complex Molding Parts
Global Fluoroelastomers Market, by End-use Industry:
• Oil & Gas
• Energy & Power
• Pharmaceutical & Food Processing
• Chemical Processing
Global Fluoroelastomers Market, by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in the Fluoroelastomer Market:
• Asahi Glass Co. (Japan)
• Daikin Industries (Japan)
• Dongyue Group (China)
• DuPont (US)
• Gujarat Fluorochemicals Limited (India)
• HaloPolymer OJSC (Russia)
• Shanghai 3F New Materials Co. (China)
• Shin-Etsu Chemical Co. (Japan)
• Solvay (Belgium), Chemours (US)
• 3M (US)
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