Fluorosilicone Market Worth 241.5 Million USD by 2022

Manish Arya / On 2017-12-02 08:04:16

The report "Fluorosilicone Market by Product Type (Elastomer, Antifoams, Coating Adhesives & Sealants), End-Use Industry (Transportation, OEM, Oil & Gas), and Region (APAC, North America, Europe, South America) - Global Forecast to 2022" published by MarketsandMarkets™, the market is projected to grow from USD 165.7 Million in 2017 to USD 241.5 Million by 2022, at a CAGR of 7.8% from 2017 to 2022. The market is driven by the growing demand for fluorosilicone in various end-use industries such as transportation, OEM, oil & gas, and others.

Elastomer is expected to account for the largest share of the Fluorosilicone Market, due to the increasing use of fluorosilicone elastomers in the transportation and OEM industries. The demand for fluorosilicone is effected by the price variation existing in various product types depends on the end-use industries in which, they are used.

The transportation segment is projected to lead the Fluorosilicone Market during the forecast period. The increasing demand for automobiles in the emerging and developed markets is fueling the growth of the use of fluorosilicone in sealing applications.

APAC leads the global Fluorosilicone Market, in terms of value and volume. APAC is also projected to be the fastest-growing market for fluorosilicone during the forecast period, as raw materials are easily available in the region and the cost of setting up manufacturing units is low in comparison to other regions. The market in Europe registered a slow growth rate in comparison to other regions, mainly due to the market maturity in this region. North America accounted for the largest market share, in terms of value, in 2016 due to the presence of a large number of global market players in the region.

The Fluorosilicone Market is dominated by leading silicone manufacturing companies such as Dow Corning (US), Shin-Etsu (Japan), Elkem Group (France), Wacker Chemie (Germany), and Momentive (US). These companies are keen on expanding their existing business by introducing new products in the market.

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