Global Perfluoroelastomer (FFKM) Market Report and Forecast 2024-2032

Global Perfluoroelastomer (FFKM) Market Outlook

The global perfluoroelastomer (FFKM) market is expected to grow in the forecast period of 2024-2032 at a CAGR of 2.60% driven by the surging adoption of perfluoroelastomers in the electronics sector and various chemical processing industries across the globe.

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Key Trends in the Market

Perfluoroelastomer or FFKM refers to the elastomeric form of poly tetrafluoro ethylene or PTFE which contains higher amounts of fluorine as compared to standard FKM. It also contains higher temperature ratings, up to approximately 325°C, and has also enhanced chemical resistance, with nearly universal chemical compatibility. Due to these characteristics, it has increasing end uses across industries. 

• Perfluoroelastomer (FFKM) is swiftly developing as the elastomer material of choice for demanding applications, such as in chemical processing and oil and gas industries due to its high temperature rating and greater fluorine content. This is expected to fuel the growth of the global perfluoroelastomer (FFKM) market over the coming years.

• Recent technological developments and research for perfluoroelastomer cross-linking technologies that combine broad chemical resistance and superior thermal stability are expected to positively impact the market growth of perfluoroelastomers over the forecast period. Increasing investments by key players in the market so as to increase thermal stability of FFKMs is also expected to boost the market growth.

• Perfluoroelastomers are employed as an alternative to seal materials when the standard fitted seal material is not chemically corresponding with the process media. It is also suitable for WFI systems and SIP cleaning processes, and such features of FFKM are expected to positively influence the growth of the perfluoroelastomer (FFKM) market across the globe.

Market Analysis

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Based on application, the market is segmented into moulding parts, gaskets, and seals, among others. On the basis of end use, the market is categorised into automotive and aerospace, energy and power, oil and gas, semiconductor, polymer processing, chemical processing, and food and pharmaceutical, among others. The regional markets for perfluoroelastomer (FFKM) are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the market based on the 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 perfluoroelastomer (FFKM) market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Seal and Design Inc

• Solvay SA

• Daikin Industries, Ltd

• DuPont de Nemours, Inc.

• Precision Polymer Engineering Limited

• Others

Market Share by End Use

Chemical processing is significant end use for perfluoroelastomers where it is utilised in parts and seals incorporation, chemical etching, and wet chemical fluid handling along with heavy-duty cleaning processes. Furthermore, FFKM is resistant to various chemicals, oils, fuels, and hydrocarbons; these features improve their functioning across various domains in chemical processing, and are boosting the growth of the segment across the perfluoroelastomer (FFKM) market. Perfluoroelastomer is preferred for various oil and gas uses such as pump and motor stators, packer elements, and a range of sealing applications due to its suitability for explosive environments. The durability of FFKM makes it suitable for heavy duty machinery which are used in various critical tasks in chemical processing.

Market Share by Region

Geographically, the Asia Pacific region is expected to witness significant growth in the market for perfluoroelastomers on account of the increasing demand for fluororubber from the petroleum and chemical industries in the region. With the growing chemical industry in the countries like China, the demand for perfluoroelastomer is expected to rise. Furthermore, the strong presence of key market players such as Daikin Industries, Ltd in the Asia Pacific region is expected to support the growth of the perfluoroelastomer (FFKM) market over the forecast period. China is anticipated to fuel the market growth of perfluoroelastomers due to the high-volume production of semiconductors in the country. 

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Competitive Landscape

Seal and Design Inc was established in 2007 and is headquartered in New York, United States. It is a leading manufacturing and distribution company across the globe specialising in all types of sealing products. The company portfolio incorporates O-rings, gaskets, moulded products, seals, and die-cut foams, among other specific products for various types of sealing applications.

Solvay SA founded in 1863, headquartered in Brussels, Belgium, is a chemical manufacturing company. The company distributes and manufactures specialty essential chemicals, chemical materials, and polymers, among others. It aims to bond people, ideas, and elements to reinvent progress, go beyond, reinvent future forms of progress, and generate sustainable shared value for all with help of science.

Daikin Industries, Ltd, established in 1924 and based in Osaka, Japan, is a leading supplier of refrigerants and air conditioners. The company offers a wide variety of technologies and products associated with refrigeration systems, air-conditioning, oil hydraulics, chemicals, and defence systems, among other electronics. Its air conditioners are extensively employed in commercial, residential, and industrial applications. 

Other market players include DuPont de Nemours, Inc., and Precision Polymer Engineering Limited, among others.

Key Highlights of the Report