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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.
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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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.
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.
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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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.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Application |
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for fluoroelastomers attained a value of USD 1.66 billion.
The market is projected to grow at a CAGR of 4.20% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 2.39 billion by 2032.
The major drivers of the market include increasing use in the automobile industry, rising demand for fuel-efficient vehicles, growing demand from the aerospace industry, and increasing use in coatings application.
The growing importance of fluoroelastomers in industrial applications and the development of improved fluoroelastomers with better performance are the key trends propelling the growth of the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The primary product types of fluoroelastomers are fluorocarbon elastomers, fluorosilicone elastomers, and perfluorocarbon elastomers.
The major players in the fluoroelastomer market are 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, and Dynafluon, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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