New York (US), May 17, 2023 (GLOBE NEWSWIRE) -- Fluoroelastomers (FKM) Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fluoroelastomers (FKM) Market Information by Product Type, Application, End-User, and Region - Forecast till 2030”, Fluoroelastomers (FKM) Market could thrive at a rate of 2.93% between 2023 and 2030. The market size will be reaching around USD 1.94 Billion by the end of the year 2030
Market Synopsis
Fluoroelastomers (FKM) are a type of synthetic rubber that is characterized by their exceptional resistance to high temperatures, chemicals, oils, and solvents. FKM is a type of fluoropolymer, which means it contains fluorine atoms in its chemical structure. Due to their unique properties, FKM materials are widely used in a variety of applications in the aerospace, automotive, chemical processing, and oil and gas industries.
The primary use of FKM is in the production of seals, gaskets, and other components that are exposed to harsh environments. FKM materials are commonly used in applications that require high-temperature resistance, chemical resistance, and long-term durability. Some examples of applications for FKM include engine seals, fuel system components, O-rings, and hoses. FKM is also used in the production of electrical insulation materials, coatings, and adhesives.
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Market Competitive Landscape:
The affluent companies in the Fluoroelastomers (FKM) Logistics industry include
- Chemours Company
- Solvay SA3M
- Gujarat Fluoro
- chemicals Limited
- Daikin Industries
- AGC Chemicals Inc
- DuPont
- Halo Polymer OJSC
- Shin-Etsu Chemical Co
- Eagle Elastomer Inc
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 1.94 Billion |
| Compound Annual Growth Rate (CAGR) | 2.93% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
Browse In-depth Market Research Report ( 185 Pages) Fluoroelastomers (FKM)
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November 2021
Solvay announced that it had launched a new grade of FKM material for use in the automotive industry. The new material, known as Tecnoflon VPL 9400, is designed to provide exceptional sealing performance at high temperatures and is specifically targeted at applications in turbocharged gasoline engines.
Market USP Covered:
Market Drivers:
The global Fluoroelastomers (FKM) market is driven by several factors, including increasing demand from the automotive and aerospace industries, growing demand for high-performance materials in the chemical processing industry, and the expanding use of FKM materials in the oil and gas sector. The growing trend towards miniaturization of components in the electronics industry is also driving demand for FKM materials.
Market Restraints:
The high cost of FKM materials compared to other elastomers, and the difficulty of processing these materials, can limit their adoption in some applications. In addition, increasing concerns about the environmental impact of FKM materials may lead to a shift towards more sustainable materials in the future.
COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the Fluoroelastomers (FKM) market. The outbreak of the pandemic disrupted the global supply chains, which in turn affected the production and sales of FKM materials. The pandemic led to a sharp decline in demand for FKM materials in 2020, as several end-use industries such as automotive, aerospace, and oil and gas faced a significant reduction in their operations. This, in turn, resulted in a decrease in the demand for FKM materials, which impacted the overall market growth.
However, as the world recovers from the pandemic, the demand for high-performance materials such as FKM is expected to rebound. The post-COVID scenario is expected to be positive for the FKM market, as industries such as automotive and aerospace are expected to recover their operations. The growth of the oil and gas industry is also expected to drive the demand for FKM materials, as they are widely used in this sector for high-temperature and high-pressure applications. Furthermore, the growing demand for sustainable and eco-friendly materials is expected to drive innovation in the FKM market, leading to the development of new and advanced materials with improved properties and reduced environmental impact.
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Market Segmentation
By Product Type
The Product Type in the market includes Fluorocarbon Elastomers, Fluorosilicone Elastomers (FVMQ), Perfluoroelastomers (FFKM)
By Application
The Application in the market includes O-rings, Seals & Gaskets, Hoses, Complex Molding Parts, Others
By End-User
The Application in the market includes Automotive, Aerospace & Defense, Chemical Processing, Semiconductor, Oil & Gas, Medical, and Others
Regional Insights
North America dominates the market due to the high demand for FKM materials in the aerospace and automotive industries. The United States is the largest market for FKM in the region, followed by Canada and Mexico.
Europe is the second-largest market for FKM materials, driven by the expanding use of these materials in the chemical processing industry and the growing demand for high-performance materials in the automotive sector. Germany, the United Kingdom, and France are the major contributors to the growth of the FKM market in Europe.
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The Asia-Pacific region is expected to witness significant growth in the global Fluoroelastomers (FKM) market due to the growing demand for high-performance materials in the automotive and aerospace industries. China, Japan, and South Korea are the major contributors to the growth of the FKM market in the region, driven by the expanding manufacturing sector and the growing demand for high-quality components.
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