What is the global market size of Fluoroelastomers Market?

Fluoroelastomers Market size was valued at USD 1.31 billion in 2021 and is poised to grow from USD 1.35 billion in 2022 to USD 1.94 billion by 2030, growing at a CAGR of 2.93% in the forecast period (2023-2030).

Fluoroelastomers Market Size, Share, Growth Analysis, By Type(Fluorocarbon Elastomers (FKM), Fluorosilicone Elastomers (FVMQ), Perfluorocarbon Elastomers (FFKM)), By End-User(Automotive, Industrial, Aerospace, Oil & Gas), By Application(Diaphragms, valves, O-rings, seals), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25B2011 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 95 | Figures: 76

Fluoroelastomers Market Regional Insights

Global Fluoroelastomers Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).

Asia Pacific accounted for the largest market share in the fluoroelastomer market. Rising investments in the developing countries such as India and China will propel its growth in the pharmaceutical, food processing, chemical processing, and coating areas. Due to fuel pollution regulations, the market in North America is characterised by rising demand from the automotive and aerospace sectors.

Major automotive and aerospace firms like as Dassault Aviation and Airbus are driving up demand for these elastomers in Europe. Germany, France, and the United Kingdom were significant contributors to push the demand. Market expansion due to widespread usage in the oil and gas and chemical industries, and demand is likely to rise during the forecast period.

Fluoroelastomers Market Report Snapshots

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Fluoroelastomers Market size was valued at USD 1.31 billion in 2019 and is poised to grow from USD 1.35 billion in 2023 to USD 1.94 billion by 2031, growing at a CAGR of 2.93% in the forecast period (2024-2031).

The top players spend in research to create new products with improved performance and quality. Particular applications AGC, Inc., for example, released the AFLAS series for food processing applications certified by the US FDA, and the firms are executing growth and acquisition plans to increase their market position. New factories are being established in emerging nations to meet rising demand and future prospects. 'DuPont de Nemours, Inc.', '3M Company', 'Solvay SA', 'Daikin Industries, Ltd.', 'Chemours Company', 'AGC Inc.', 'Zhonghao Chenguang Research Institute of Chemical Industry', 'Shin-Etsu Chemical Co., Ltd.', 'Mitsui Chemicals, Inc.', 'Asahi Glass Co., Ltd.', 'Gujarat Fluorochemicals Ltd.', 'Halopolymer OJSC', 'Dongyue Group Ltd.', 'Saint-Gobain Performance Plastics Corporation', 'ExxonMobil Chemical Company', 'Zhejiang Juhua Co., Ltd.', 'Kureha Corporation', 'The Dow Chemical Company', 'RTP Company', 'Greene, Tweed & Co. Inc.'

The automobile sector is facing increased challenges as a result of climate change, decreasing fossil fuel supplies, and fluctuating crude oil prices.

Introduction of Food and Pharmaceutical Grade Products: Fluoroelastomers demand is predicted to increase due to materials having excellent chemical and heat resistance characteristics for certain application sectors. Several firms have launched food-grade and pharmaceutical-grade products that have been authorised by the FDA for use by regulatory agencies.

Fluoroelastomers Market is divided into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).

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Fluoroelastomers Market Regional Insights

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