Fluoroelastomers (FKM) Market Research Report Information By Product Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers (FVMQ), Perfluoroelastomers (FFKM), By Application (O-rings, Seals & Gaskets, Hoses, Complex Molding Parts, Others), By End-User (Automotive, Aerospace & Defense, Chemical Processing, Semiconductor, Oil & Gas, Medical, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

Global Fluoroelastomers (FKM) Market Overview

The Fluoroelastomers (FKM) Market Size was valued at USD 1.35 Billion in 2022. The Fluoroelastomers (FKM) industry is projected to grow from USD 1.59 Billion in 2023 to USD 1.94 Billion by 2030, exhibolymers because of their exceptional resilience in O-ring seals,iting a compound annual growth rate (CAGR) of 2.93% during the forecast period (2023 - 2030). The family of synthetic rubber that includes fluoroelastomers has been used in a variety of applications. Many industrial verticals use fluoroelastomers because of their important characteristics, including decreased gas absorption rates, compression, and ozone resistance. Since fluoroelastomers are used in aerospace engines and seals, the aviation sector is regarded as the principal end-user. The producers of aircraft components are now using fluoroelastomers and p fuel management systems, and other applications.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fluoroelastomers (FKM) Market Trends

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  Rising Demand for Fuel-Efficient Vehicles

  
  

Consumer demand for fuel-efficient vehicles is rising, which is good news for the automobile sector given the rise in climate change, the depletion of fossil fuel supplies, and price swings in crude oil. Automobile manufacturers are making significant investments in R&D to alter their current designs and concentrate on using lightweight materials to attain the needed efficiency. To increase efficiency, manufacturers are reducing the size of engine and powertrain components and adding air circulation systems. These variations in proportions expose the vehicle's parts to hot fluids and fumes and high temperatures. Fluoroelastomer is expected to have a rise in demand because of its compatibility with a wide range of chemicals and tolerance to a wide range of temperatures. The inadequacy of traditional elastomers to withstand high temperatures will further fuel the expansion of the fluoroelastomer market.

Fluoroelastomers (FKM) Market Segment Insights

Fluoroelastomers (FKM) Product Type Insights

The market segmentation, based on Product Type, includes Fluorocarbon Elastomers, Fluorosilicone Elastomers (FVMQ), and Perfluoroelastomers (FFKM). The Fluorocarbon Elastomers segment holds the majority share in 2022, contributing to the global Fluoroelastomers (FKM) revenue. Fluorocarbon elastomers are a type of synthetic rubber that contains fluorine atoms in the polymer chain. They are known for their resistance to heat, chemicals, and oils, and are used in a variety of applications including seals, gaskets, and hoses. The fluorocarbon elastomers segment holds the majority share of the market, due to the superior properties of these materials.

Fluoroelastomers (FKM) Application Insights

Based on Application, the market segmentation includes O-rings, Seals & Gaskets, Hoses, Complex Molding Parts, and Others. The Seals & Gaskets segment dominated the market. The growing demand for seals and gaskets in the automotive and aerospace industries is the key factor driving the growth of this segment. In addition, the increasing use of FKM in the oil & gas and chemical processing industries is also fuelling the growth of the Seals & Gaskets segment.

Fluoroelastomers (FKM) End-User Insights

Based on End-User, the market segmentation includes ​​​​​​Automotive, Aerospace & Defense, Chemical Processing, semiconductors, Oil & Gas, Medical, and Others. The Automotive segment is the largest segment of the market. The automotive segment is projected to grow at the fastest rate during the forecast period. The increased demand for fuel-efficient and lightweight vehicles is driving the growth of the automotive segment. In addition, the rising demand for vehicles in Asia-Pacific and the Middle East & Africa is also fuelling the growth of the automotive segment.

Figure 2: Fluoroelastomers (FKM) Market, by Product Type, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fluoroelastomers (FKM) Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region is expected to continue to dominate the market over the forecast period. This is due to the expected continued growth of the automotive and electronics industries in the region. The automotive industry is expected to continue to be the leading end-user of FKM, and the Asia Pacific region is expected to continue to be home to some of the world’s largest automotive markets. The electronics industry is also expected to continue to be a major end-user of FKM, and the Asia Pacific region is expected to continue to be a major hub for the global electronics industry.

Figure 3: FLUOROELASTOMERS (FKM) MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fluoroelastomers (FKM) Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Fluoroelastomers (FKM) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Fluoroelastomers (FKM) industry to benefit customers and expand the market sector. Major market players, including Chemours Company, Solvay SA, 3M, AGC Chemicals Inc, Daikin Industries, and others, are attempting to increase market demand by funding R&D initiatives.

Solvay is a manufacturer of innovative materials and specialty chemicals. It works in three divisions: Materials, Chemicals, and Solutions. Specialty polymers and composite materials are available in the Materials sector. Amines, antioxidants and stabilizers, composites, mining chemicals, polymers, surfactants, and other products are available in the Chemicals section. The Solutions division focuses on formulations and application skills to reduce environmental impact. The company serves industrial, aerospace, automotive, consumer goods, energy, environment, healthcare, electronics, building, and other markets.

AGC is a provider of chemicals, glass, electronics, and ceramics. It creates, manufactures, and sells chemicals, flat, automotive, and display glass, as well as other high-tech materials and parts. The business provides services to clients in a variety of markets, including those for consumer goods, displays and optical equipment, industrial materials, life science, transportation, building and social infrastructure, and life sciences.

List of the Key Companies in the Fluoroelastomers (FKM) market include

• Chemours Company


• Solvay SA


• 3M


• Gujarat Fluorochemicals Limited


• Daikin Industries


• AGC Chemicals Inc


• DuPont


• Halo Polymer OJSC


• Shin-Etsu Chemical Co


• Eagle Elastomer Inc

Fluoroelastomers (FKM) Industry Developments

January 2022: AGC Chemicals Americas Inc. (AGCCA) announced an expansion at its Thorndale, Pennsylvania, production facility that will add up to 50% more manufacturing, quality control lab, and office space. The multi-use facility will be configured to meet the growing needs of the current business and accommodate future production increases and new capabilities.

Fluoroelastomers (FKM) Market Segmentation

Fluoroelastomers (FKM) Product Type Outlook

• Fluorocarbon Elastomers


• Fluorosilicone Elastomers (FVMQ)


• Perfluoroelastomers (FFKM)

Fluoroelastomers (FKM) Application Outlook

• O-rings


• Seals & Gaskets


• Hoses


• Complex Molding Parts


• Others

Fluoroelastomers (FKM) End-User Outlook

• Automotive


• Aerospace & Defense


• Chemical Processing


• Semiconductor


• Oil & Gas


• Medical


• Others

Fluoroelastomers (FKM) Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America