Global Fluoroelastomer (FKM) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032

The global Fluoroelastomer (FKM) market has touched the number of around 35 thousand tonnes in 2021 and is expected to grow at a CAGR of 3.45% during the forecast period until 2032. The Solvay group has recently announced that they will increase the productivity of fluoroelastomers by 30% at the company's site in Spinetta Marengo, Italy. The new capacity was commissioned in 2021 and is expected to expand the supply of FKM with Europe and international export to the US and China.

FKM is a fluoro-carbon-based elastomer material composed of vinylidene as the monomer. It is a kind of synthetic rubber with properties to be functional at high temperatures. This polymer is resistant to chemical attack by fuel, oxidation, oil, and acids. The operational temperature range is -20 degrees Celsius to up to 200 degree Celsius. FKM can withstand strong bases, oils, aromatic hydrocarbons, and steam. Even in adverse circumstances, FKM offers long-term reliability. Some industrial applications of FKM include O-ring seals, valve liners, fuel hoses, shaft seals, gaskets, manifold gaskets, and shaft seals. FKM is far better than regular rubber in terms of functionality and resistance.

The rate of development of fluoroelastomers is expanding globally due to recent developments. The need for fluoroelastomers has expanded due to their numerous applications in the industrial application (sealing), oil and gas, automotive and chemical processing industries.

On the global level, the top producers are from China, with approximately 40% of the production of FKM from the top five FKM-producing companies in the year 2021. Thus, almost half of the FKM is produced by China, and it is anticipated that China will lead the FKM production in the forecasted period.

Based on the end-user industry, the global FKM market is segmented into different industrial sectors that include Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and others. However, automotive is the dominating sector as the consumer of FKM and is anticipated to remain the leading consumer in 2032. In the automotive industry, FKM is employed to manufacture electrical connectors, diaphragms, shaft seals, check valve balls, clips for jet engines, lathe-cut gaskets, and more. The demand for FKM in the Aerospace sector is expected to soar in the forecast period.The components made with FKM are premium in quality that remains stable during extreme conditions such as low and high temperatures. In the Aerospace sector, FKM is utilized to create O-ring seals, valve stem seals, fuel injector O-rings, fuel hoses, valve liners, sheet stock gaskets, and many more components. Fluoroelastomers are utilized in the chemical processing sector to prevent corrosion.

Major players in the production of Global FKM are: Shandong Huaxia Shenzhou New Material Co. Ltd., Dongyue Group, Inner Mongolia 3F Wanhao Fluorochemical Co. Ltd., Changshu 3F Zhonghao, Gujarat Fluorochemicals Limited (GFLC), Solvay SA, and Juhua Group Corporation.

Years considered for this report:

• Historical Period: 2015- 2021
• Base Year: 2021
• Estimated Year: 2022
• Forecast Period: 2023-2032

Objective of the Study:

• To assess the demand-supply scenario of Fluoroelastomer which covers production, demand and supply of Fluoroelastomer market in the globe.
• To analyse and forecast the market size of Fluoroelastomer
• To classify and forecast Global Fluoroelastomer market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Fluoroelastomer market in the globe.

To extract data for Global Fluoroelastomer market, primary research surveys were conducted with Fluoroelastomer manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Fluoroelastomer market over the coming years.

ChemAnalyst calculated Fluoroelastomer demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of raw material to produce Fluoroelastomers. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Fluoroelastomers manufacturers and other stakeholders
• Organizations, forums and alliances related to Fluoroelastomers distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Fluoroelastomers manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Fluoroelastomers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, by End-Use: Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and others.
• Market, by Sales Channel: Direct Sale and Indirect Sale
• Market, by Region: North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Available Customizations:

With the given market data, ChemAnalyst offers customizations according to a company's specific needs.