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. The air force has proven to be the most effective form of Defense and attack since World War II. Thus, technological advancements are always on the rise in the sector. Factors like these could drive the future demand of the Fluorosilicone market size in the APAC region.
Major global market players in the industry were Dow Jones Industrial, Fluoron Chemicals, Avantor Sciences, Momentive Performance Materials, KCC Corporation, among others.
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.
Elkem reported a total operating income of USD 449 million in Q1 2021 which was up 48% from USD 302 million in Q1 2020, in the silicone division.
Global Fluorosilicone Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Fluorosilicones market by segmenting based on the Type (Adhesives and Sealants, Coatings, Elastomers, Others), End-User Industry (Aircraft Industry, Defense Industry, Oil and Gas, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The market report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes the emerging market trend, market analysis, developments, opportunities, and challenges in the industry. This report covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.
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