The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
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Fluorosilicone is a type of material with enhanced characteristics than that of the traditional silicone elastomers. Fluorosilicones offer enhanced mechanical properties along with showing better performance with several fuel types and chemicals. Fluorosilicone materials are very versatile and can be molded with ease to produce different and extruded shapes.
Fluorosilicone Market: Dynamics
Fluorosilicone elastomers are widely consumed in the fabrication of seals for the aerospace fuel systems. The large scale growth witnessed by the global aircraft fleet and increasing number of new orders create a wide demand for the fluorosilicone materials. With airfare getting lower by the day and building an upgraded airport infrastructure, the demand for these seals in the aftermarket also increases, causing and upsurge in the raw material demand of fluorosilicones.
The price variations in the fluorosilicone depends widely on the product type used and the end use industry consuming it. Hence, this chiefly affects the overall demand of the fluorosilicone products and plays a prominent role in the product selection criteria. Poor abrasion resistance of fluorosilicone products is one of the significant factor giving other products a competitive edge over its fluorosilicone counterparts. Having said that, the fluorosilicones find robust application in the static applications, lowering the setback of its low abrasion resistance property. Alongside, the limited chemical resistance to certain chemicals such as brake fluids, ketones and aldehydes, among others also act as a restraining factor in the overall growth of the fluorosilicone market. The slowdown of the global automotive industry can act as another obstructing factor in the overall growth of the fluorosilicone market which may continue until the first half of the forecast period.
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Fluorosilicone Market: Segmentation
The global Fluorosilicone market can be segmented on the basis of product type, end use industry
On the basis of product type, the global fluorosilicone market can be segmented into:
- Fluorosilicone Elastomers
- Fluorosilicone Anti – Foams
- Fluorosilicone Adhesive & Sealants
- Fluorosilicone Coatings
On the basis of end use industry, the global fluorosilicone market can be segmented into:
- Electrical & Electronics
- Paints & Coatings
- Oil & Gas
- General Industrial
Fluorosilicone Market: Regional Outlook
Regionally, the countries in East Asia are estimated to account for a larger proportion of the fluorosilicone market in terms of consumption. Due to highly intense industrial activities in countries like China, the market for fluorosilicone is expected to flourish in the coming years. On a growth front, the South Asia fluorosilicone market is anticipated to witness a relatively faster growth, in both value as well as volume terms, due to the shifting industrial plants in the countries like India and ASEAN Countries. With several manufacturing companies adopting a ‘China plus One’ strategy, setting up a manufacturing base in nearby countries to China is proving to be a lucrative strategy adoption by the companies. Hence, propelling the fluorosilicone business in the regions. Following, the Asia Pacific region, the demand for fluorosilicone is noted to be high in North America while the Europe fluorosilicone market is expected to showcase flat line growth over the forecast period. Latin America and Middle East & Africa are also expected to show significant movement in the global fluorosilicone market while accounting for a sizeable proportion of the market.
Some of the market participants in the global fluorosilicone market identified across the value chain include
- The Dow Chemical Company
- Shin-Etsu Chemical Co. Ltd.
- Wacker Chemie AG
- Ge Mao Rubber Industrial Co. Ltd.
- ERIKS N.V.
- Otto Gehrckens GmbH & Co. KG
- James Walker Australia Pty Ltd
- STOCKWELL ELASTOMERICS
- and Ace Seal LLC
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