The fluorosilicone 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. New product launches, mergers & acquisitions, joint ventures & partnerships, and investments & expansions are the key strategies adopted by industry players to achieve growth in the fluorosilicone market. Increasing product developments, technological advancements, and demand for sealing solutions with excellent temperature and pressure resistance, and binding properties have led to the high demand for fluorosilicone in various end-use industries such as transportation, oil & gas, and others.
Currently, the fluorosilicone market is dominated by leading silicone manufacturing companies such as Dow Corning (US), Shin-Etsu (Japan), Elkem Group (Norway), Wacker Chemie (Germany), and Momentive (US). These leading global companies are keen on expanding their existing business in fluorosilicone by introducing new products in the market. Key players are focused on expanding their operations in China, India, the US, South Korea, and Brazil, where OEM manufacturing and transportation activities are high. They are also highly focused on R&D activities to provide customers with improved products.
Dow Corning (US) is a leading player in the fluorosilicone market. The company produces fluorosilicone resins and fluorosilicone product types such as fluids, elastomers, antifoams, coatings, and adhesives. These fluorosilicone types are used in various industries such as transportation, oil & gas, and others. The company manufactures over 50 fluorosilicone polymers and products. The company is focusing on organic growth strategies such as new product launches to increase its presence globally. The company is facing stiff competition from Shin-Etsu, which has a stronghold in the global fluorosilicone market, especially in APAC countries.
Some of the other players in the market include Shin-Etsu (Japan), Elkem Group (Norway), Wacker Chemie (Germany), and Momentive (US). They are also highly focused on R&D activities to provide customers with improved products. Product launches accounted for a significant share of the overall growth strategies adopted by the players in the acrylic emulsions market between 2013 and 2017.
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
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