The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Fluorocarbon Elastomer (FKM). The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Fluorocarbon Elastomer (FKM) Market across various industries and regions.
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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.
This newly published and insightful report sheds light on Market Insights of Fluorocarbon Elastomer (FKM), key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Fluorocarbon Elastomer (FKM) Market. The study offers a comprehensive analysis on diverse features including demand, product developments, revenue generation and sales in Fluoroelastomers market across the globe.
A comprehensive estimate on Fluoroelastomers market has also considered the market estimates through an optimistic scenario, and a conservative scenario regarding the sales of Fluoroelastomers during the forecast period. Price point comparison by region with global average price is also considered in the study.
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Fluoroelastomers Market Segmentation
Fact.MR has studied the Fluoroelastomers market with detailed segmentation on the basis of polymer, end-use industry, applications and key regions.
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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.
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 2018, Solvay announced the capacity expansion of its facilities in China and Italy for its fluoroelastomers products traded under the brand name of Tecnoflon. Local players have also hinted at increasing the production.
Shandong Huaxia Shenzhou New Material Co.Ltd, a China based company, has mentioned its plans of fluoroelastomers capacity expansion to 10,000 tons/annum in its 13th five year plan. The growth in the East Asia market can be attributed to the growth of the automobile industry in the region. Macroeconomic factors such as rise in population, increase in disposable income have also driven the fluoroelastomers market in the region. The Automotive industry is expected to grow at a rate of 2.5% to 3% in the region over the forecast period, and it is most likely to drive the market in the region. New developments in applications such as fluoroelastomers band in high-end smart watches is also expected to increase the demand for fluoroelastomers over the forecast period. However, development of alternative materials over the forecast period can affect the fluoroelastomers market.
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Report Benefits & Key Questions Answered
- Fluorocarbon Elastomer (FKM) Company & brand share analysis: The report offers brand-share analysis on Fluorocarbon Elastomer (FKM) market to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
- Fluorocarbon Elastomer (FKM) Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
- Fluorocarbon Elastomer (FKM) Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
- Fluorocarbon Elastomer (FKM) Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
- Fluorocarbon Elastomer (FKM) Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
- Post COVID consumer spending on Fluorocarbon Elastomer (FKM): The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Fluorocarbon Elastomer (FKM) sales.
More Valuable Insights on Fluorocarbon Elastomer (FKM) Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Fluorocarbon Elastomer (FKM), Sales and Demand of Fluorocarbon Elastomer (FKM), analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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