The Middle East & African fluoroelastomer market are expected to register an estimated CAGR of over 5.5%, over the forecast period.
Key Market Trends
Increasing Demand for Fluorocarbon Elastomers
Saudi Arabia to Dominate the Market
Competitive Landscape
The Middle-East and African fluoroelastomer market is consolidated in nature. Strong backward integration of major manufacturers, such as Solvay, DuPont, and 3M creates a stiff competition in the market.
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- Some of the major factors driving the growth of the market studied are the superior chemical resistance and thermal characteristics of fluoroelastomers and their increasing applications in a wide range of end-user industries, especially the oil and gas and chemical processing sectors in the Middle East & Africa region.
- Hazardous working conditions are expected to hinder the growth of the market studied.
Key Market Trends
Increasing Demand for Fluorocarbon Elastomers
- Fluorocarbon elastomers are highly fluorinated carbon-based polymers used in applications to resist harsh chemical and ozone attack. There are, however, specialty grade fluorocarbons that can provide high fluorine content with low-temperature properties.
- Fluorocarbon elastomers become of vital importance in seal manufacturing. Owing to the wide of chemical compatibility, temperature range, low compression set, and excellent aging characteristics, fluorocarbon rubber is the most significant single elastomer developed over the years.
- Fluorocarbons are resistant to a broader range of chemicals along with the excellent high-temperature properties than any of the other elastomers. Due to which, it is the most preferred elastomer for sealing in the use of O-rings and other custom seals over different types of elastomers, globally.
- These elastomers are highly resistant to swelling and degradation when exposed to gasoline or UV light and ozone. With exposure to low temperatures, fluorocarbon elastomers can become hard (-4 °F) but can be serviceable at low temperatures, although these compounds are not ideal for applications requiring good low-temperature flexibility.
- Additionally, some of the other materials are also present with the differing composition of monomers and fluorine content (65% to 71%) for improved resistance against low, high temperature, or chemicals. Fluorocarbon elastomers provide low gas permeability, which make them suitable for hard vacuum service applications and many other industrial applications.
- Owing to all these factors, the market for fluoroelastomers in the region is likely to grow during the forecast period.
Saudi Arabia to Dominate the Market
- Saudi Arabia is one of the major consumers of fluoroelastomers in the Middle East & African region. The fluoroelastomer market is expected to be mainly driven by the industrial sector.
- Saudi Arabia is one of the largest producers of oil and gas in the world. The demand for fluoroelastomers is likely to increase with rising investment in the oil and gas sector. Saudi Arabia has emerged as a rapidly growing energy consumer in the Middle East region.
- Saudi Aramco announced its plans to invest USD 300 billion in the next 10 years to maintain its oil-production capacity, and is expected to also look for more exploration of natural gas in the coming years.
- Furthermore, the chemical manufacturing sector plays a crucial role in supplying the Middle Eastern countries’ growing construction industry by chemical binders and construction chemicals. They also supply oil field chemicals to the oil industries in the respective countries. Saudi Arabia is continuing to expand hydrocarbon and gas production into the future.
- Such positive growth in the country is likely to propel the demand for fluoroelastomers during the forecast period.
Competitive Landscape
The Middle-East and African fluoroelastomer market is consolidated in nature. Strong backward integration of major manufacturers, such as Solvay, DuPont, and 3M creates a stiff competition in the market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Companies Mentioned
A selection of companies mentioned in this report includes:
- 3M
- Dongyue Group
- DuPont
- Shanghai Fluoron Chemicals Co.Ltd
- AGC Chemicals Americas
- DAIKIN INDUSTRIES, Ltd.
- Freudenberg Sealing Technologies
- KUREHA CORPORATION
- Parker Hannifin Corp
- Solvay
Methodology
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