The global fluoroelastomers demand reached over 26,000 tons in 2018 as per the new research study carried out by Fact.MR and the market is valued at US$ 1 billion. According to the report, the fluoroelastomers market is expected to grow at 2.7% CAGR over the forecast period. The growth can be attributed to the developments in the automotive industry, replacement of old non-fluoroelastomers material in the automobiles and increasing adoption of fluoroelastomers by Automobile manufacturers with the implementation of stringent automotive emission standards across the globe. With the global automotive industry being virtually flat in 2018, the industry is expected to bounce back in the short term forecast as per the industry experts. Regional slowdown in the automotive industries is also expected to come back to life with developments towards regional stability and decreasing tariff wars between global economies.
Developments in New Grades of Fluoroelastomers to Create Lucrative Opportunities.
Fact.MR opines that the development in the new grade of fluoroelastomers are creating attractive opportunities of growth in the fluoroelastomers market. Companies are coming up with new cross-linked combinations of fluoroelastomers to increase the areas of application. For example, AGC Chemicals, one of the leading manufacturers of fluoroelastomers, has developed a new series ALFAS 150E, for insulating applications in high voltage charging cables for electric vehicles. As per company claims, the product has started gaining popularity and is being adopted by some of the electric vehicle manufacturers. The product is expected to increase the market share of the company over the mid-term forecast due to this valuable development.
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Other manufacturers are also expected to follow such strategies to develop new grades and types of fluoroelastomers to widen the application areas of fluoroelastomers. Some of the manufacturers have also developed specific grades of fluoroelastomers as per region and specific applications in end–use industries. For instance, Daikin Chemicals offers seals made from its fluoroelastomers products for application as insulation oil cap for bullet train lines. This application can further be incorporated in other regions that are coming up with Bullet train projects, thus increasing the demand for fluoroelastomers in the upcoming years.
Biggest Production Hub for Fluoroelastomers: Status to be Retained by East Asia
The East Asia region has been the largest consumer of fluoroelastomers in the recent years and is expected to retain its status as largest consumer & producer of fluoroelastomers over the forecast period. Many Regional as well as global players in fluoroelastomers market have announced the production capacity expansions in the East Asian region to meet the rising demand in the local as well as neighboring regions such as India in South Asia.
In order to dissert the market scenario prevailing across the fluoroelastomers market sector, FactMR has evenly presented a comprehensive analysis report on market to its extensive online repository.
The fluoroelastomers market analysis report presents detailed information regarding the drivers, restraints, opportunities and trends affecting fluoroelastomers market progress.
Each segment along with its sub-segment is analyzed in terms of value and volume.
Further, the fluoroelastomers report elaborates the market behavior of each vendor operating in the fluoroelastomers market.
Each segment of the fluoroelastomers market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:North America (Canada, US)Latin America (Argentina, Mexico)Europe (NORDIC, UK)APEJ (China, India)Request a Sample Copy - https://www.factmr.com/connectus/sample?flag=S_id=4165The business intelligence study of the fluoroelastomers market covers the estimation size of the market both in terms of value and volume.
In a bid to recognize the growth prospects in the fluoroelastomers market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market.The key players in the global fluoroelastomers market report consist ofFUDI New materialGujarat Fluorochemicals Ltd.Zhejiang Huanxin Fluoro Material Co.,Ltd.Jiangsu meilan chemical co., ltd.Each market player encompassed in the fluoroelastomers market study is assessed according to its market share, production footprint, current launches, agreements, ongoing R projects, and business tactics.
