Global Fluoroelastomers Market by Type, Application and End-user Industries - Trends & Forecast to 2022
DUBLIN, March 26, 2018 /PRNewswire/ --
The "Fluoroelastomers Market by Type, by Application and by End-User Industries - Global Trends & Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The fluoroelastomer market is projected to reach USD 1.64 Billion by 2022, at a CAGR of 6.2%, growing from USD 1.21 Billion in 2017.
Fluoroelastomers are used in the manufacture of O-rings, seals & gaskets, and hoses. These sealing products are used across various end-use industries such as automotive, aerospace, oil & gas, energy & power, semiconductors, chemical processing, pharmaceutical, food processing, and others. The growth of these end-use industries is expected to drive the growth of the fluoroelastomers market during the forecast period.
Based on type, the fluoroelastomer market has been segmented into fluorocarbon, fluorosilicone, and perfluoroelastomers. Perfluoroelastomers is estimated to be the fastest-growing type of the fluoroelastomers market during the forecast period. It is used for the manufacture of various applications such as O-rings, seals & gaskets, hoses, and complex molding parts. Perfluoroelastomers surpass fluorocarbon elastomers in almost all characteristics. Pefluoroelastomers are used where the properties are not sufficient to meet the needs of the end-use industry.
Among end-use industries of fluoroelastomers, automotive is estimated to remain the largest segment during the forecast period. Fluoroelastomers are widely used in fuel systems of conventional vehicles to reduce emissions, and these are also preferred for insulation of battery voltage cables of electric vehicles. The increasing demand for vehicles from emerging countries such as China, India, and Brazil is projected to fuel the demand for fluoroelastomers during the forecast period. Increasing popularity of electric cars, and rising disposable incomes of the middle class populations in many countries are expected to boost the demand for vehicles in the respective regions.
Rising demand for fluoroelastomers from the automotive, aerospace, and semiconductor industries is driving the fluoroelastomers market, globally. Asia Pacific is projected to be the fastest-growing market for fluoroelastomers during the forecast period, followed by North America and Europe. The growth of the market can be attributed to the presence of the regional manufacturers of fluoroelastomers, such as Asahi Glass Co. (Japan), Daikin Industries (Japan), Dongyue Group Co. (China), Gujarat Fluorochemicals Limited (India), Shanghai 3F New Materials Co. (China), Shin-Etsu Chemical Co. (Japan), and Zhonghao Chenguang Research Institute of Chemical Industry (China) in the region. The fluoroelastomers market in India is projected to grow at the highest CAGR during the forecast period.
Companies operating in the fluoroelastomer market are investing to increase their product portfolios along with improvements in distribution networks and thus enhancing their positions in the market. They have adopted strategies such as mergers & acquisitions, new product developments, and expansions to cater to the increasing demand for fluoroelastomers from different regions. For instance, in 2015, the Chemours Company introduced a new grade of Viton, VTR-9307. The product provides high temperature and chemical resistance along with high acid resistance. This has increased its usability in automotive applications such as EGR sensors. The company also entered into a joint venture with Zhonghao Chenguang Research Co. (China), in February 2015, which markets Viton in the Asia Pacific.
Asahi Glass Co. (Japan), Daikin Industries (Japan), Dongyue Group Co. (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), and 3M (US) are some of the companies operating in the fluoroelastomers market.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunity for Fluoroelastomers
4.2 Asia-Pacific Fluoroelastomers Market, By Application and Country
4.3 Fluoroelastomers Market Attractiveness
4.4 Fluoroelastomers Market Share, By Type and Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Tightening of Emission Standards for Automobile Industry
5.2.1.2 Key End-Use Industries to Drive the Fluoroelastomers Market
5.2.2 Restraints
5.2.2.1 Rising Environmental Concerns
5.2.3 Opportunities
5.2.3.1 New Product Development in Sealing Applications
5.2.4 Challenges
5.2.4.1 Aggressive Base Chemicals and Thermal Expansion Issues
5.2.4.2 High Price of Fluoroelastomers, Than Alternatives Available in the Market
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Buyers
5.3.2 Bargaining Power of Suppliers
5.3.3 Threat From New Entrants
5.3.4 Threat From Substitutes
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP Growth Rate Forecast of Major Countries
5.4.2 Trends in the Passenger Cars Segment, 2010-20
5.4.3 Chemical Processing Industry Forecast: 2015-20
6 Fluoroelastomer Market, By Type and Application
6.1 Introduction
6.2 Fluorocarbon Elastomers
6.2.1 O-Rings
6.2.2 Seals & Gaskets
6.2.3 Hoses
6.2.4 Complex Molding Parts
6.2.5 Others
6.3 Fluorosilicone Elastomers
6.3.1 O-Rings
6.3.2 Seals & Gaskets
6.3.3 Hoses
6.3.4 Complex Molding Parts
6.3.5 Others
6.4 Perfluoroelastomers
6.4.1 O-Rings
6.4.2 Seals & Gaskets
6.4.3 Hoses
6.4.4 Complex Molding Parts
6.4.5 Others
7 Fluoroelastomer Market, By End-Use Industry
7.1 Introduction
7.2 Automotive
7.3 Aerospace
7.4 Oil & Gas
7.5 Energy & Power
7.6 Chemical Processing
7.7 Semiconductor
7.8 Pharmaceutical & Food Processing
7.9 Others
8 Fluoroelastomer Market, By Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Mexico
8.2.3 Canada
8.3 Asia-Pacific
8.3.1 China
8.3.2 Japan
8.3.3 India
8.3.4 South Korea
8.3.5 Taiwan
8.3.6 Rest of Asia-Pacific
8.4 Middle East & Africa
8.4.1 Saudi Arabia
8.4.2 South Africa
8.4.3 Rest of Middle East & Africa
8.5 South America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Rest of South America
9 Competitive Landscape
9.1 Introduction
9.2 Competitive Leadership Mapping, 2016
9.2.1 Visionary Leaders
9.2.2 Innovators
9.2.3 Dynamic Differentiators
9.2.4 Emerging Companies
9.3 Competitive Benchmarking
9.3.1 Strength of Product Portfolio (25 Companies)
9.3.2 Business Strategy Excellence (25 Companies)
9.4 Market Ranking of Key Players
10 Company Profiles
10.1 Chemours
10.2 Daikin Industries
10.3 Solvay SA
10.4 3M
10.5 Asahi Glass Company
10.6 Dongyue Group Co.
10.7 E. I. Dupont De Nemours and Company
10.8 Gujarat Fluorochemicals Limited
10.9 Shanghai 3f New Material Co.
10.10 Halopolymer OJSC
10.11 Other Companies
10.11.1 Eagle Elastomers Inc.
10.11.2 Greene, Tweed & Co.
10.11.3 Shanghi Fluoron Chemicals Co.
10.11.4 Trp Polymer Solutions Limited.
10.11.5 Chenguang Fluoro & Silicone Elastomers Co.
10.11.6 Zhonghao Chenguang Research Institute of Chemical Industry
10.11.7 Sumitomo Electric Schrumpf-Produkte GmbH
10.11.8 Polycomp Bv
10.11.9 Precision Polymer Engineering
10.11.10 James Walker & Co.
10.11.11 Eastcorp International
10.11.12 Dynafluon
10.11.13 Shin-Etsu Chemical Co.
10.11.14 Marco Rubber & Plastic Products, Inc.
10.11.15 Clwyed Compounders
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