Perfluoroelastomer Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Perfluoroelastomer Industry Hit Worst due to Russia-Ukraine War Impact?
The global perfluoroelastomer (FFKM) market size is expected to gain momentum owing to the rising pharmaceutical industry and the growing demand for advanced perfluoroelastomer (FFKM) for food processing applications across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled, “Perfluoroelastomer (FFKM) Market Size, Share & Industry Analysis, By Type (Fluororubber 246, Fluororubber 26, Fluororubber 23), By End-Use Industry (Petroleum & Chemical, Aerospace, Electronics, Others) and Regional Forecast, 2021-2028.”
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Perfluoroelastomer Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Perfluoroelastomer Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
Perfluoroelastomer (FFKM) is a combination of perfluoro methylvinylether and tetrafluoroethylene that provides resistance from extreme chemical environments. It is further resistant to all chemicals such as hydroxide, nitric acid, ketones, alkalines, and alcohols, among others. Additionally, it is extensively adopted to produce gaskets and for sealing purposes in several industrial applications.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Rising Pharmaceutical Industry to Surge Demand
Perfluoroelastomer (FFKM), a fluorinated version of fluoroelastomer, can operate efficiently even at -45 0C to +330 0C. Owing to this property, it is extensively adopted in the pharmaceutical industry to protect products from contamination, decomposition, and damage. Additionally, the increasing adoption of FFKM for food processing applications to provide chemical resistance and reduce contamination is expected to boost the global perfluoroelastomer (FFKM) market during the forecast period.
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Increasing Demand from Chemical Industry in North America to Favor Growth
Among all the regions, North America is expected to hold the highest position in the global perfluoroelastomer (FFKM) market during the forecast period. This is attributable to the increasing demand for advanced perfluoroelastomer (FFKM) from the chemical industry in the region.
The Asia-Pacific market is anticipated to showcase considerable growth backed by the growing demand for fluororubber in the petroleum & chemical industry in the region between 2020 and 2027.
Eminent Companies Focus on Product Innovation to Brighten Their Market Positions
The global perfluoroelastomer (FFKM) market is fragmented by the presence of major companies that are focusing on innovating perfluoroelastomer (FFKM) to cater to the growing demand from several industrial applications. Adoption of strategies such as partnership, collaboration, and facility expansion by key players will further contribute to the growth of the global market for perfluoroelastomer (FFKM) in the forthcoming years.
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- April 2020 – DuPont announces the launch of Kalrez 7375, an innovative perfluoroelastomer (FFKM) sealing product. According to the company, the launch is expected to expand its product portfolio in the global marketplace.
List of the Companies Profiled in the Global Market for Perfluoroelastomer (FFKM)
- Seal & Design Inc.
- Eastern Seals
- ERIKS nv.
- SensorsONE Ltd
- Gallagher Fluid Seals, Inc.
- Greene Tweed
- Precision Polymer Engineering/IDEX
- Fluorez Technology Inc
- Highlight Tech. Corporation.
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