According to the new market research report “Fluoroelastomer Market by Type (Fluorocarbon, Fluorosilicone, Perfluoroelastomers), End-Use Industry (Automotive, Aerospace, Oil & Gas, Energy & Power, Chemical Processing, Semiconductor, Pharmaceutical & Food Processing), and Region – Global Forecast to 2022″, The fluoroelastomers market is projected to reach USD 1.64 Billion by 2022, at a CAGR of 6.2% increasing from an estimated USD 1.21 Billion in 2017.
Fluoroelastomers are mainly used in the production of sealing products, such as O-rings, and seals & gaskets. Fluoroelastomers are high fluorine containing synthetic rubbers possessing excellent chemical and thermal resistance. Their ability to maintain elasticity under extreme conditions has increased their applicability in the aerospace, oil & gas, energy & power, and pharmaceutical and food processing industries.
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Fluorocarbon elastomers are fluorine-containing polymers providing high resistance to varying temperature ranges and chemical inertness against a wide variety of corrosive fluids and chemicals. The cured products have high low-temperature flexibility and low resilience. Fluorocarbon elastomers are used in sealing equipment and high performance machinery. Due to their high resistance to oxygen, ozone, and high temperature compression-set resistance, fluorocarbon elastomers are widely used for the manufacture of O-rings, seals & gaskets. Fluorocarbon seals are used in automotive, aerospace, and small industrial equipment as these are strongly resistant to motor oil, and gasoline, thus increasing their demand in the automotive and aerospace industries.
The stable performance of fluoroelastomers under extreme conditions enables their use in the aerospace industry. Fluoroelastomers are used in the aerospace industry in O-ring seals in fuel, lubrication, and hydraulic systems; in manifold gaskets; fuel tank bladders; firewall seals; engine lube siphon hoses; electrical connectors; shaft seals; traps for hot engine lubricants; and tire valve stem seals. In the aerospace industry, the fluorosilicone elastomer is the most widely used type of fluoroelastomer. It is mostly used in fuel & lubricant contact applications such as fuel-line connections and fuel control devices. The growing aerospace industry and unavailability of an ideal substitute for fluoroelastomers in sealing applications is projected to fuel the demand for fluoroelastomers during the forecast period.
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The fluoroelastomers market is projected to reach USD 1.64 Billion by 2022, at a CAGR of 6.2% from 2017 to 2022. Fluoroelastomers possess high chemical and thermal resistance due to high fluorine content. They are also known for their low permeability and non-flammability
New product launches and increasing distribution networks through expansions and joint ventures were the key strategies adopted by the leading players to strengthen their positions in the fluoroelastomers market between 2014 and 2016. Some of the leading players operating in the fluoroelastomers market are Asahi Glass Co. (Japan), Daikin Industries (Japan), DuPont (US), Solvay (Belgium), Chemours (US), and 3M (US). These companies also adopted strategies such as new product developments, expansions, and joint ventures to expand their product portfolios and extend their reach to new customers.
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Chemours has a strong position in the fluoroelastomers market. The company produces and markets fluoroelastomers under the brand name, Viton. These fluoroelastomers are used in automotive, consumer electronics, chemical processing, oil and gas, petroleum refining and transportation, and aircraft and aerospace applications. The company has entered into a joint venture with Zhonghao Chenguang Research Co. (China), by the name, Chemours Chenguang Fluoromaterials (Shanghai) Co. in February 2015. This company is involved in marketing fluoroelastomer products under the Chenguang and Viton brands. This increased the company’s reach in the Asia Pacific market. Also, in August 2015, Chemours launched a new grade Viton, VTR-9307 with high temperature and chemical resistance along with high acid resistance. This has increased its usability in automotive applications such as EGR sensors, Positive Crankcase Ventilation (PCV), and diesel particulate filters, in addition to O-rings and sleeves for air flow elements.
Daikin Industries is a group of 213 companies worldwide, and has a presence in 140 countries with production facilities in 80 locations. The chemicals segment manufactures fluorochemicals such as fluorocarbons, fluoroplastics, fluoroelastomers, fluoropaints, and flouro coating agents. The company provides a wide range of fluoroelastomers to cater various end-use industries. Daikin established a new subsidiary, Daikin Chemical Southeast Asia Co., in Bangkok, Thailand. It is expected to start operations towards the beginning of 2018. This extension of Daikin in South East Asia is aimed at catering the rapidly growing automotive and electronics industries of the region.
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