The global Fluorosilicone market is expected to witness a considerable growth rate during the forecast period. Factors such as the growing demand for Fluorosilicones in the transportation and defense industries due to its limited abrasion, low tear strength, and high friction make it preferred for static application.
The Fluorosilicone market share is expected to rise during the forecasted year as the demand for Original Equipment Manufacturing (OEM) is rising in emerging countries like China and India. Fluorosilicones thermal stability and resistance to petroleum-based fluids are expected to drive the market. However, the extensive use of fluorocarbon and perfluorocarbon in the industry could hamper the growth of Fluorosilicones in the forecasted years.
Fluorosilicone rubbers are used for sealing applications in the aircraft industry, petroleum oil application, injection molding of parts, automotive components, and coating with various end-users like aircraft industry, transportation industry, elastomer, Defense, and oil and gas industry.
The aircraft industry is the prime consumer of Fluorosilicones globally and is expected to drive the future Fluorosilicone market. As the common solvent and fuels could degrade materials, this leads to additional maintenance costs, unplanned ground time of the aircraft, and a possibility of a catastrophic failure.
These challenges are promoting the industry to use Fluorosilicones over fluorocarbons owing to their impressive thermal stability. With the country's increasing safety norms, efforts are being made to make air travel safer for passengers. The increasing dependency of humans on airplanes as the fastest transportation mode between two locations further propels the global Fluorosilicone market.
Airbus estimates a growth of 4.3% annually in air traffic, requiring over 39,000 new passengers and freighter aircraft over the next 20 years. This expected rise could prove to be a significant boost to the Fluorosilicones market. The Covid-19 harmed the airline sector, and planes being grounded for over eight months in certain parts of the world.
Despite the pandemic, the experts expect a speedy recovery with aircraft flying at their maximum capacity by the end of this year. Countries have also increased their spending on military equipment, with the United States estimated to spend over USD 934 billion in 2020.
Asia-Pacific is expected to dominate the Fluorosilicone industry in the forecasted year. This growth is attributed to the easy availability of raw material in the region coupled with cheap labor and the low cost of setting up manufacturing units compared to other regions. The increasing population and increasing disposable income of the people could make air travel a viable mode of transportation. Asia is expected to account for about 40% of the future aircraft production.
China is expected to lead the Fluorosilicone industry in terms of aviation requirements. The International Air Transport (IATA) predicts that by 2036 there would be additional 2.1 billion travelers traveling each year, double today's volume. Since the market in China is enormous, both domestic and internationally, it is expected that 20% of the future airline production would take place in China.
Owing to this factor alone, the Fluorosilicone market's rising demand is expected to surge in the future. China is expected to spend around USD 208 billion on its military. China and India have one of the strongest armies with an annual budget of over USD 208 billion and USD 65 billion. These spendings are an indicator of the massive potential for Fluorosilicones in the region.
Major global market players in the industry were Dow Jones Industrial, Fluoron Chemicals, Avantor Sciences, Momentive Performance Materials, KCC Corporation, among others.
Key Topics Covered:
1. Executive Summary
2. Research Scope and Methodology
2.1 Aim & Objective of the study
2.2 Market Definition
2.3 Study Information
2.4 General Study Assumptions
2.5 Research Phases
3. Market Analysis
3.2 Market Dynamics
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Feedstock Analysis
3.6 Regulatory Policies
3.7 Analysis of Covid-19 Impact
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
4.2.1 Competition in the Industry
4.2.2 Potential of New Entrants into the Industry
4.2.3 Bargaining Power of Suppliers
4.2.4 Bargaining Power of Consumers
4.2.5 Threat of substitute products
5. Market Segmentation & Forecast
5.1 By Type
5.1.1 Adhesives and Sealants
5.3 By End-User Industry
5.2.1 Aircraft Industry
5.2.2 Defense Industry
5.2.3 Oil and Gas
6. Regional Market Analysis
7. Key Company Profiles
7.1 Dow Jones Industrial
7.2 Fluoron Chemicals
7.3 Clwyd Compounders Ltd
7.4 C. Otto Gehrckens. Dichtungstechnik
7.6 Elkem Group
7.7 Elastotech S.R.L
7.8 Huanxin Fluoro Material Co., Ltd
7.9 KCC Corporation
7.10 Loparex Holding B.V.
7.11 Shanghai Kayson Chemicals
7.12 Shin-Etsu Chemical Co., Ltd.
7.13 Avantor Sciences
7.14 Wacker Chemie AG
7.15 Momentive Performance Materials
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/7oh6wn
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