Global Fluoroelastomer Market Report and Forecast 2024-2032

Global Fluoroelastomer Market Outlook

The global fluoroelastomer market size reached a value of around USD 1.66 billion in 2023. The market is further expected to grow at a CAGR of 4.20% between 2024 and 2032, reaching a value of around USD 2.39 billion by 2032.

Key Trends in the Market

Fluoroelastomers, also known as fluorocarbon elastomers, refer to synthetic rubbers that are created through a copolymerisation process, and employed in a range of high-performance applications. Suited for harsh environments, fluoroelastomers have long-term durability and minimal environmental impact while being excellent in compression, resistant to UV and ozone, and have a low gas absorption rate.

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• The global market for fluoroelastomers is predicted to grow significantly over the next few years due to their rising applications in the automotive industry and their superior mechanical, thermal, and sealing properties.

• The key fluoroelastomer market trends driving the market growth are the rising demand for fuel-efficient cars and the aerospace industry's growing need for specialised fluoroelastomer products like hoses and gaskets.

• Fluoroelastomers are anticipated to grow in popularity due to their ability to withstand adverse weather conditions in various industrial applications. Further product developments are expected to increase their demand further by enhancing application potential.

Global Fluoroelastomer Market Analysis

Based on product type, the market is divided into fluorocarbon elastomers, fluorosilicone elastomers, and perfluorocarbon elastomers. The market, based on application, is categorised into diaphragms, valves, and O-Rings, seals and sealants, among others. On the basis of end-use, the market is segmented into automotive, aerospace, oil and gas, and industrial, among others. The regional markets for fluoroelastomer are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global fluoroelastomer market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• The Chemours Company LLC

• Solvay S.A.

• Daikin Industries, Ltd.

• 3M Company

• AGC, Inc

• Shin-Etsu Chemical Co., Ltd.

• Gujarat Fluorochemicals Limited

• Eagle Elastomer Inc

• HaloPolymer, OJSC

• James Walker Group Limited

• Dynafluon

• Others

Global Fluoroelastomer Market Share by End-Use

Automotive accounts for a sizable share in the market for fluoroelastomers by end-use as fluoroelastomers are frequently used in the automotive sector to lower emissions, improve fuel economy, stop fluid leaks, and boost system performance. Furthermore, the strict emission regulations in the automotive sector and the characteristics of fluoroelastomers such as their extreme resistance to swelling and degradation when exposed to petrol or UV light and ozone, are aiding the fluoroelastomer market growth.

Global Fluoroelastomer Market Share by Region

The Asia Pacific region is expected to be one of the largest regions in the fluoroelastomers market. Fluoroelastomers are in high demand due to the growth of manufacturing industries in countries such as China and India, which have become some of the world's largest industrial hubs. Additionally, the Asia Pacific is anticipated to increase its market share for fluoroelastomers due to the increasing production of EVs in developing countries of the region.

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Competitive Landscape

The Chemours Company LLC, established in 2015, is headquartered in Delaware in the United States. The company is a world leader in titanium technologies, thermal and specialised solutions, advanced performance materials, and chemical solutions, offering solutions to a wide range of industries.

3M Company, headquartered in Minnesota in the United States and established in 1902 manufactures a wide range of products, such as consumer electronics components, abrasives, sticky tape, and associated items. The company also manufactures consumer, industrial, and safety items.

AGC, Inc., established in 1907, is a prominent provider of high-tech materials and components, including flat, automotive, display, and chemical glass. Headquartered in Tokyo, Japan, AGC offers caustic soda, polyvinyl chloride, fluorinated resins, vinyl chloride monomer, and water and oil repellents.

Other market players include Solvay S.A., Daikin Industries, Ltd., Shin-Etsu Chemical Co., Ltd., Gujarat Fluorochemicals Limited, Eagle Elastomer Inc, HaloPolymer, OJSC, James Walker Group Limited, and Dynafluon, among others.

Key Highlights of the Report