Asia Pacific Fluoroelastomers Market Forecast to 2030 - Regional Analysis - by Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers, and Perfluorocarbon Elastomers), Application (O-Rings, Seals and Gaskets, Hoses, Molded Parts, and Others), and End User (Automotive, Aerospace, Oil and Gas, Semiconductors, Energy and Power, and Others)
The Asia Pacific fluoroelastomers market is expected to grow from US$ 798.83 million in 2022 to US$ 1,239.52 million by 2030. It is estimated to register a CAGR of 5.6% from 2022 to 2030.
Rise in Strategic Initiatives by Major Market Players Drives Asia Pacific Fluoroelastomers Market
Many manufacturers in the fluoroelastomers market are entering into a partnership with suppliers, logistics companies, and end users to streamline the fluoroelastomer supply chain. Several manufacturers partnered with material science industries for the development of innovative fluoroelastomer formulations with improved properties. The companies also collaborated with research institutes in order to expand fluoroelastomer applications.
Many companies operating in the fluoroelastomers market are focused on developing advanced manufacturing technologies and improving production processes. In 2022, Solvay SA introduced "Tecnoflon" peroxide curable fluoroelastomers, which are manufactured without the use of fluorosurfactant aids. The company also aims to offer a mass sampling of the developed product to enable testing and adoption of the developed non-fluorosurfactant technology. In 2022, The Chemours Company announced its plan to start process innovation for the production of Advanced Polymer Architecture (APA) grade fluoroelastomers-Viton. The developed sustainable process does not involve the utilization of a fluorinated polymerization aid. In April 2023, Freudenberg Sealing Technologies GmbH and Co developed a fluoroelastomer that met all regulatory standards intended for use in the pharmaceutical and, food and beverages industries. The product complies with all the requirements of the European Union as well as the Food and Drug Administration. Therefore, the rise in strategic initiatives by major players creates lucrative opportunities for the fluoroelastomers market growth in the coming years.
Asia Pacific Fluoroelastomers Market Overview
The demand for fluoroelastomers in Asia Pacific is in parallel with industrialization and vehicular production in the region. The increase in the number of on-fleet vehicles in countries such as China, India, and South Korea is propelling the demand for PCBs and semiconductors, further bolstering the need for fluoroelastomers. With China's evolution into a high-skilled manufacturing hub, developing countries such as India, South Korea, Taiwan, and Vietnam are attracting several businesses that plan to relocate their low to medium-skilled manufacturing facilities to neighboring countries, which results in reduced labor costs. As per the study by the Semiconductor Industry Association, 75% of global semiconductor capacity is based in East Asia. Semiconductor companies will benefit from a cost advantage of 25% to 50% with the start of manufacturing activities in the region. Further, Asia Pacific is a hub for automotive manufacturing with a large presence of international and domestic players operating in the region. According to a report published by the China Passenger Car Association, in 2022, Tesla Inc delivered 83,135 made-in-China electric vehicles, indicating growth in sales of electric vehicles compared to 2021. According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia-Oceania's vehicle production increased from 46.8 million in 2021 to 50.0 million in 2022. The development of automotive parts and components in the region with the rise of electric vehicle production will create lucrative opportunities for fluoroelastomers. Extensive innovation and prototyping from major automakers are driving the market.
Further, electronics and semiconductor manufacturing in Asia Pacific has been a major driver of global trade. Asia Pacific is a global hub for the production and exports of technical consumer goods (TCG), including consumer electronics such as laptops and computers, cell phones, radio sets and sound systems, and televisions, as well as other essential electronic parts and small and big domestic appliances. According to the Association of Southeast Asian Nations, the electronics sector holds 20% to 50% of the total value of exports of most countries in Asia. All these factors are propelling the growth of the fluoroelastomers market in Asia Pacific.
Asia Pacific Fluoroelastomers Market Revenue and Forecast to 2030 (US$ Million)
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Asia Pacific Fluoroelastomers Market Segmentation
The Asia Pacific fluoroelastomers market is segmented into type, application, end user, and country.
Based on type, the Asia Pacific fluoroelastomers market is categorized into fluorocarbon elastomers, fluorosilicone elastomers, and perfluorocarbon elastomers. The fluorocarbon elastomers segment held the largest share of the Asia Pacific fluoroelastomers market in 2022.
In terms of application, the Asia Pacific fluoroelastomers market is segmented into O-rings, seals and gaskets, hoses, molded parts, and others. The O-rings segment held the largest share of the Asia Pacific fluoroelastomers market in 2022.
By end user, the Asia Pacific fluoroelastomers market is categorized into automotive, aerospace, oil and gas, semiconductors, energy and power, and others. The automotive segment held the largest share of the Asia Pacific fluoroelastomers market in 2022.
Based on country, the Asia Pacific fluoroelastomers market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific fluoroelastomers market in 2022.
3M Company, AGC Inc, Daikin Industries Ltd, Gujarat Fluorochemicals Ltd, Shandong Huaxia Shenzhou New Material Co Ltd, Shin-Etsu Chemical Co Ltd, Solvay SA, and The Chemours Co are some of the leading companies operating in the Asia Pacific fluoroelastomers market.
Table of Content
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
2.2.1 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Fluoroelastomers Market Landscape
4.1 Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Asia Pacific Fluoroelastomers Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Fluoroelastomers in Automotive Industry
5.1.2 Growing Oil and Gas Industry
5.2 Market Restraints
5.2.1 Environmental Regulations and Concerns Related to Fluoroelastomers
5.3 Market Opportunities
5.3.1 Rise in Strategic Initiatives by Major Market Players
5.4 Future Trends
5.4.1 Research Related to Fluoroelastomer Recycling
5.5 Impact Analysis
6. Fluoroelastomers Market - Asia Pacific Market Analysis
6.1 Asia Pacific Fluoroelastomers Market Volume (Tons)
6.2 Asia Pacific Fluoroelastomers Market Revenue (US$ Million)
6.3 Asia Pacific Fluoroelastomers Market Forecast and Analysis
7. Asia Pacific Fluoroelastomers Market Analysis - Type
7.1 Fluorocarbon Elastomers
7.1.1 Overview
7.1.2 Fluorocarbon Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)
7.2 Fluorosilicone Elastomers
7.2.1 Overview
7.2.2 Fluorosilicone Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)
7.3 Perfluorocarbon Elastomers
7.3.1 Overview
7.3.2 Perfluorocarbon Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)
8. Asia Pacific Fluoroelastomers Market Analysis - Application
8.1 O-Rings
8.1.1 Overview
8.1.2 O-Rings Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Seals and Gaskets
8.2.1 Overview
8.2.2 Seals and Gaskets Market Revenue and Forecast to 2030 (US$ Million)
8.3 Hoses
8.3.1 Overview
8.3.2 Hoses Market Revenue and Forecast to 2030 (US$ Million)
8.4 Molded Parts
8.4.1 Overview
8.4.2 Molded Parts Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Fluoroelastomers Market Analysis - End User
9.1 Automotive
9.1.1 Overview
9.1.2 Automotive Market, Revenue and Forecast to 2030 (US$ Million)
9.2 Aerospace
9.2.1 Overview
9.2.2 Aerospace Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Oil and Gas
9.3.1 Overview
9.3.2 Oil and Gas Market, Revenue and Forecast to 2030 (US$ Million)
9.4 Semiconductors
9.4.1 Overview
9.4.2 Semiconductors Market, Revenue and Forecast to 2030 (US$ Million)
9.5 Energy and Power
9.5.1 Overview
9.5.2 Energy and Power Market, Revenue and Forecast to 2030 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Fluoroelastomers Market - Country Analysis
10.1 Asia Pacific
10.1.1 Asia Pacific Fluoroelastomers Market Revenue and Forecasts and Analysis - By Countries
10.1.1.1 Asia Pacific Fluoroelastomers Market Breakdown by Country
10.1.1.2 Australia Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.3 Australia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.3.1 Australia Fluoroelastomers Market Breakdown by Type
10.1.1.3.2 Australia Fluoroelastomers Market Breakdown by Type
10.1.1.3.3 Australia Fluoroelastomers Market Breakdown by Application
10.1.1.3.4 Australia Fluoroelastomers Market Breakdown by End User
10.1.1.4 China Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.5 China Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.5.1 China Fluoroelastomers Market Breakdown by Type
10.1.1.5.2 China Fluoroelastomers Market Breakdown by Type
10.1.1.5.3 China Fluoroelastomers Market Breakdown by Application
10.1.1.5.4 China Fluoroelastomers Market Breakdown by End User
10.1.1.6 India Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.7 India Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.7.1 India Fluoroelastomers Market Breakdown by Type
10.1.1.7.2 India Fluoroelastomers Market Breakdown by Type
10.1.1.7.3 India Fluoroelastomers Market Breakdown by Application
10.1.1.7.4 India Fluoroelastomers Market Breakdown by End User
10.1.1.8 Japan Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.9 Japan Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.9.1 Japan Fluoroelastomers Market Breakdown by Type
10.1.1.9.2 Japan Fluoroelastomers Market Breakdown by Type
10.1.1.9.3 Japan Fluoroelastomers Market Breakdown by Application
10.1.1.9.4 Japan Fluoroelastomers Market Breakdown by End User
10.1.1.10 South Korea Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.11 South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.11.1 South Korea Fluoroelastomers Market Breakdown by Type
10.1.1.11.2 South Korea Fluoroelastomers Market Breakdown by Type
10.1.1.11.3 South Korea Fluoroelastomers Market Breakdown by Application
10.1.1.11.4 South Korea Fluoroelastomers Market Breakdown by End User
10.1.1.12 Rest of Asia Pacific Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
10.1.1.13 Rest of Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
10.1.1.13.1 Rest of Asia Pacific Fluoroelastomers Market Breakdown by Type
10.1.1.13.2 Rest of Asia Pacific Fluoroelastomers Market Breakdown by Type
10.1.1.13.3 Rest of Asia Pacific Fluoroelastomers Market Breakdown by Application
10.1.1.13.4 Rest of Asia Pacific Fluoroelastomers Market Breakdown by End User
11. Industry Landscape
11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 The Chemours Co
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 AGC Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 3M Company
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Solvay SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Daikin Industries Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Shandong Huaxia Shenzhou New Material Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Gujarat Fluorochemicals Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Shin-Etsu Chemical Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. Asia Pacific Fluoroelastomers Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Asia Pacific Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Table 4. Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Table 5. Asia Pacific Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - Type
Table 6. Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - Type
Table 7. Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - Application
Table 8. Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - End User
Table 9. Australia Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - by Type
Table 10. Australia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 11. Australia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 12. Australia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
Table 13. China Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - by Type
Table 14. China Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 15. China Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 16. China Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
Table 17. India Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - by Type
Table 18. India Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 19. India Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 20. India Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
Table 21. Japan Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - by Type
Table 22. Japan Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 23. Japan Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 24. Japan Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
Table 25. South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (Kilo Ton) - by Type
Table 26. South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 27. South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 28. South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
Table 29. Rest of Asia Pacific Fluoroelastomers Market Volume and Forecasts to 2030 (Tons) - by Type
Table 30. Rest of Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Type
Table 31. Rest of Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by Application
Table 32. Rest of Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million) - by End User
List of Figures
Figure 1. Asia Pacific Fluoroelastomers Market Segmentation, by Country
Figure 2. Porter's Five Forces Analysis
Figure 3. Ecosystem: Fluoroelastomers Market
Figure 4. Market Dynamics: Asia Pacific Fluoroelastomers Market
Figure 5. Asia Pacific Fluoroelastomers Market Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Fluoroelastomers Market Volume (Tons), 2020 - 2030
Figure 7. Asia Pacific Fluoroelastomers Market Revenue (US$ Million), 2020 - 2030
Figure 8. Asia Pacific Fluoroelastomers Market Share (%) - Type, 2022 and 2030
Figure 9. Fluorocarbon Elastomers Market Volume and Forecasts to 2030 (Tons)
Figure 10. Fluorocarbon Elastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Fluorosilicone Elastomers Market Volume and Forecasts to 2030 (Tons)
Figure 12. Fluorosilicone Elastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Perfluorocarbon Elastomers Market Volume and Forecasts to 2030 (Tons)
Figure 14. Perfluorocarbon Elastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Asia Pacific Fluoroelastomers Market Share (%) - Application, 2022 and 2030
Figure 16. O-Rings Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Seals and Gaskets Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Hoses Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Molded Parts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Asia Pacific Fluoroelastomers Market Share (%) - End User, 2022 and 2030
Figure 22. Automotive Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Aerospace Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. Oil and Gas Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Semiconductors Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Energy and Power Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 28. Asia Pacific Fluoroelastomers Market, By Key Country - Revenue (2022) (US$ Million)
Figure 29. Asia Pacific Fluoroelastomers Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 30. Australia Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 31. Australia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 32. China Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 33. China Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 34. India Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 35. India Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 36. Japan Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 37. Japan Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 38. South Korea Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 39. South Korea Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 40. Rest of Asia Pacific Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
Figure 41. Rest of Asia Pacific Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
1. 3M Company
2. AGC Inc
3. Daikin Industries Ltd
4. Gujarat Fluorochemicals Ltd
5. Shandong Huaxia Shenzhou New Material Co Ltd
6. Shin-Etsu Chemical Co Ltd
7. Solvay SA
8. The Chemours Co
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific Fluoroelastomers Market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.