News5050 – Market Report
December 6, 2017
The fluorosilicone market is estimated at USD 165.7 million in 2017 and is projected to reach USD 241.5 million by 2022, at a CAGR of 7.8%, in terms of value, between 2017 and 2022. The market is witnessing high growth because of the increasing use of fluorosilicone in the automotive, aerospace, OEM, and oil & gas industries, and the growing demand from APAC and North America.
“Elastomer is expected to be the fastest-growing product type segment”
Elastomer is projected to be the fastest-growing product type segment in the fluorosilicone market during the forecast period because of its increasing sealing application. The fluorosilicone elastomer is extensively used in aerospace applications such as components in fuel systems, coolants, and other parts. These elastomers have low- and high-temperature resistance properties. They are fundamentally UV- and ozone resistant. These elastomers are widely used in manufacturing sealing and bearing solutions such as O-rings, gaskets, membranes, and others.
“Rising demand for fluorosilicone in developed markets such as the North America to provide growth opportunities in the fluorosilicone market”
North America is projected to be the largest market for fluorosilicone during the forecast period. The development in the automotive and transportation industries is projected to drive the fluorosilicone market in this region. The increasing use of fluorosilicone antifoams in the oil & gas industry is also driving the market in this region. However, APAC is the fastest-growing market for fluorosilicone. This growth can be attributed to the increasing automobile sales and the OEM manufacturing activities in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
o By Company Type: Tier 1 – 58%, Tier 2 – 25%, and Tier 3 – 17%
o By Designation: C level – 36%, D level – 36%, and Others – 28%
o By Region: North America – 9%, Europe – 27%, APAC – 37%, South America – 18%, and the Middle East & Africa – 9%
Key companies profiled in this report are, Dow Corning (US), Shin-Etsu (Japan), Elkem Group (France), Wacker Chemie (Germany), and Momentive (US).
The market is segmented by product type, end-use industry, and region. This report covers the fluorosilicone market in terms of value and volume, and forecasts its market size for 2022. The report also provides company profiles of market players and competitive strategies adopted by the key players in the global market.
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