Fluoroelastomer Market Outlook –
Advancements in automotive, chemicals, and aerospace sectors have led to use of complex machinery, in turn requiring highly specialized and functional materials such as fluoroelastomers. Rampant growth of these end-use industries across the globe is in turn providing major impetus for growth of the global fluoroelastomer market. Asia Pacific is one of the major contributors in the market. This is mainly attributed to the booming automotive industry in the emerging economies such as India and China. In 2016, the Indian automotive industry accounted for total revenue of USS 31.84 billion. This along with the 100% FDI in this sector in the country has attracted investors such as Bosch, Continental Engines, ZF, Aisin Seiki Company, Delphi, FAG, Denso, Magneti Marelli, WABCO, TRW and Valeo. This trend is expected to continue over the forecast period, in turn propelling growth of the fluoroelastomer market.
High initial price is one of the restraining factors for the fluoroelastomer market. Mergers and acquisitions and development of innovative portfolio are some of the key strategies adopted by the top players in the global fluoroelastomer market. In March 2017, 3M signed an agreement with Johnson Controls for the acquisition of Scott Safety. Scott Safety is a leading manufacturer of innovative products such as self-contained breathing apparatus (SCBA) systems, gas and flame detection instruments, and various safety devices that will widen 3M’s product portfolio in safety. Some of the companies operating in the global waterproofing admixture market are E. I. Du Pont De Nemours and Company (U.S), 30+., Asahi Group Holdings, Ltd., Daikin Industries, Ltd., Solvay AG, and 3M Company (U.S)
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Fluoroelastomeric O ring has excellent resistance to ozone, oxygen, mineral oil, high temperatures, fuels, aromatics, synthetic hydraulic fluids, and many more chemicals organic and solvents. This has led to the increase in consumption of fluoroelastomers as a preferred O ring material. O rings are used in engine oil seals, petrochemical system, high temperature seals, and fuel systems. Hoses are widely used in automotive and aerospace industries due to properties such as excellent chemical resistance, protection against abrasion, extreme compressibility 1:6, highly flexible, kink-proof, smooth inner hose wall, small bend radius, tear resistance, Uv- and ozone-resistance, high temperature resistance, and vibration proofing. Perfluorelastomers (FFKM) consist of fully-fluorinated polymer structure resulting in fluorine composition of over 70%. Thus, FFKM materials offer ultimate thermo-chemical resistance depicted by long-term high temperature compression-set resistance. In addition to this, use of fluoroelastomers has various benefits such as reduced repairs and inspections, less frequency of seal changes, increased process and equipment life for greater productivity and yield.
Fluoroelastomers are used for sealing applications in the chemical industry, owing to enhanced properties such as excellent chemical resistance and high operating temperature range. Fluoroelatomeric hoses are used in low pressure applications, paint spray extraction, and extraction at medium temperatures. Fluoroelastomer seals help prevent semiconductor process contamination by lowering extractables, dropping particulates, and resistance against degradation in harsh plasma. Fluoroelastomers are used in highly aggressive semiconductor wafer fabrication, oil & gas recovery, chemical processing, pharmaceutical, and aerospace applications.
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Fluoroelastomer Market Taxonomy
On the basis of type of product type, the global market is classified into:Fluorocarbon elastomer,Perfluorocarbon elastomer,Fluorosilicone elastomer
On the basis of application, the global market is classified into:O rings,Gaskets,Hoses,Seals
On the basis of end use industry, the global market is classified into:Automotive,Energy and power,Chemicals,Oil & Gas,Aer