Fluoroelastomers Market is Expected to Grow at A CAGR of 4.9%

Date: 2015-08-31

“This report on fluoroelastomers market covers latest market trends and forecasting reports for the global fluoroelastomers industry. Fluoroelastomers are polymeric resins in which some or all of the hydrogen atoms in the polymer chain have been replaced by fluorine. They offer a combination of good chemical resistance, excellent electrical insulation properties, and favorable mechanical properties. These are highly weather resistant and can function in extreme temperature and pressure. 

These fluorinated polymers can be manufactured using various raw materials and different manufacturing processes. The value chain ranges from basic fluorochemicals and mineral products all the way to end-users such as aerospace companies, industrial manufacturers, or consumers. The key feedstock used in the manufacturing of fluoroelastomers is fluorspar. The supply of  key raw materials has been affected by both supply constraints and manufacturing cost. For instance, fluorspar is a naturally occurring mineral, used in a multitude of industries ranging from metallurgy, ceramics, glass, aluminum, and fluoroelastomers. So, its manufacturers have to compete with other industries to ensure smooth supply of fluorspar. Fluoroelastomers exist in many forms and based on their formulation and function, these can be segmented into fluorocarbon elastomers, Fluorosilicone elastomers and perfluoroelastomers.

The application of fluoroelastomers is increasingly becoming popular due to the performance advantage these materials offer. These possess an excellent combination of physical and chemical properties, comprising excellent chemical resistance, high temperature stability, and good dielectric properties. These elastomers are widely used in many industrial fields under severe conditions. Owing to their special properties and relatively low production volume when compared with engineering resins, their prices are relatively high.

The major opportunities in the fluoroelastomers market lies in its increasing demand in industrial maintenance sector particularly due to their chemical and oil resistance property. With the increasing need for protection from UV exposure, use of fluoroelastomers in additives is being practiced increasingly.

The fluoroelastomers market is expected to grow at a CAGR of 4.9%, over the next five years to reach 30.4 KT by 2019. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the fastest growth rate between 2014 and 2019.

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