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Middle East & Africa Fluoroelastomers Market Forecast to 2030 - Regional Analysis - by Type (Fluorocarbon Elastomers, Fluorosilicone Elastomers, and Perfluorocarbon Elastomers), Application (O-Rings, Seals and Gaskets, Hoses, Molded Parts, and Others), and End User (Automotive, Aerospace, Oil and Gas, Semiconductors, Energy and Power, and Others)

May 2024 | 89 pages | ID: M0AB1F49DA7FEN
The Insight Partners

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The Middle East & Africa fluoroelastomers market is expected to grow from US$ 48.43 million in 2022 to US$ 69.19 million by 2030. It is estimated to register a CAGR of 4.6% from 2022 to 2030.

Research Related to Fluoroelastomer Recycling Fuels Middle East & Africa Fluoroelastomers Market

Fluoroelastomers are used in the production of gaskets, seals, and other components, offering a barrier against harsh chemicals and fluids under severe service conditions. However, disposal of fluoroelastomers at the end of their life cycle can be challenging.

Recycling initiatives by scientists can help reduce fluoroelastomer waste and limit the need for virgin materials. A few properties of fluoroelastomer such as durability and chemical resistance make recycling a challenging aspect; however, there are several approaches and ongoing research pertaining to fluoroelastomer recycling. Mechanical recycling involves the grinding of fluoroelastomers into small particles; but this method is not suitable for all fluoroelastomers as it hampers material properties, preventing them from being used again. In 2022, researchers at the University of Applied Sciences Kaiserslautern (Germany) studied recycling methods for fluoroelastomers and "green cross-linking strategy." Ongoing research on various fluoroelastomer recycling methods includes chemical recycling, pyrolysis, and solvent-based recycling. Fluoroelastomer seals and gaskets are studied for reclamation and reutilization in cases where it has not undergone significant degradation. Thus, ongoing research for fluoroelastomer recycling offers potential opportunities for the major players operating in the fluoroelastomers market during the forecast period.

Middle East & Africa Fluoroelastomers Market Overview

The fluoroelastomers market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. In the Middle East & Africa, fluoroelastomers are widely used in the oil and gas industry. The region is a global hub for oil production and refining, and fluoroelastomers are crucial in seals, gaskets, and O-rings used in wellheads, pipelines, and processing equipment. Their resistance to aggressive chemicals and high temperatures ensures the reliable operation of these critical components. In the Middle East & Africa, fluoroelastomers are also essential in the mining industry. The report published by the Minerals Council of South Africa in 2022 revealed that the mining production in South Africa was valued at US$ 57 billion in 2021 and reached US$ 61 billion in 2022. Further, in South Africa, mining exports accounted for US$ 46.3 billion, or 24% of the country's international trade, in 2022. The total sales of iron ore in South Africa accounted for US$ 5.4 billion in 2022, representing a rise of 47.3% compared to 2019. In addition, according to the International Trade Administration, Saudi Arabia's untapped mineral reserves accounted for US$ 1.3 trillion in 2021. Further, the World Mining Data 2022 report by the Federal Ministry of the Republic of Austria revealed that Africa accounted for 889.6 million metric tons of mineral production (excluding bauxite). The mining production rate of minerals in Africa increased by 16.2% from 2000 to 2020. This region is rich in mineral resources, and the equipment used in mining operations often operates in abrasive and corrosive environments. Fluoroelastomers contribute to extended service life and reduced mining and mineral processing maintenance.

Further, fluoroelastomers are employed in engine seals, fuel system components, and transmission seals. These materials help vehicles endure extreme temperatures and perform in harsh desert climates. The rise in automotive sales in South Africa and Saudi Arabia is creating a significant demand for fluoroelastomers. For instance, in September 2022, Renault Group Morocco announced that its two factories in Tangier and Casablanca, Morocco, produced 350,000 vehicles in 2022, a 15.3% increase over the production numbers in 2021. In the Middle East & Africa, the market is evolving due to the increasing passenger vehicle production. Rising middle-class income, growing population, and increasing passenger vehicle production are driving the fluoroelastomers market.

Middle East & Africa Fluoroelastomers Market Revenue and Forecast to 2030 (US$ Million)

Middle East & Africa Fluoroelastomers Market Segmentation

The Middle East & Africa fluoroelastomers market is segmented into type, application, end user, and country.

Based on type, the Middle East & Africa fluoroelastomers market is segmented into fluorocarbon elastomers, fluorosilicone elastomers, and perfluorocarbon elastomers. The fluorocarbon elastomers segment held the largest share of the Middle East & Africa fluoroelastomers market in 2022.

Based on application, the Middle East & Africa fluoroelastomers market is categorized into O-rings, seals and gaskets, hoses, molded parts, and others. The O-rings segment held the largest share of the Middle East & Africa fluoroelastomers market in 2022.

In terms of end user, the Middle East & Africa fluoroelastomers market is segmented into automotive, aerospace, oil and gas, semiconductors, energy and power, and others. The automotive segment held the largest share of the Middle East & Africa fluoroelastomers market in 2022.

Based on country, the Middle East & Africa fluoroelastomers market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa fluoroelastomers market in 2022.

3M Company, AGC Inc, Daikin Industries Ltd, Solvay SA, and The Chemours Co are some of the leading companies operating in the Middle East & Africa fluoroelastomers market.
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness
  2.2.1 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET LANDSCAPE

4.1 Overview
4.2 Porter's Five Forces Analysis
  4.2.1 Bargaining Power of Suppliers
  4.2.2 Bargaining Power of Buyers
  4.2.3 Threat of New Entrants
  4.2.4 Intensity of Competitive Rivalry
  4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis

5. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET - KEY MARKET DYNAMICS

5.1 Market Drivers
  5.1.1 Rising Demand for Fluoroelastomers in Automotive Industry
  5.1.2 Growing Oil and Gas Industry
5.2 Market Restraints
  5.2.1 Environmental Regulations and Concerns Related to Fluoroelastomers
5.3 Market Opportunities
  5.3.1 Rise in Strategic Initiatives by Major Market Players
5.4 Future Trends
  5.4.1 Research Related to Fluoroelastomer Recycling
5.5 Impact Analysis

6. FLUOROELASTOMERS MARKET - MIDDLE EAST & AFRICA MARKET ANALYSIS

6.1 Middle East & Africa Fluoroelastomers Market Volume (Tons)
6.2 Middle East & Africa Fluoroelastomers Market Revenue (US$ Million)
6.3 Middle East & Africa Fluoroelastomers Market Forecast and Analysis

7. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET ANALYSIS - TYPE

7.1 Fluorocarbon Elastomers
  7.1.1 Overview
  7.1.2 Fluorocarbon Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)
7.2 Fluorosilicone Elastomers
  7.2.1 Overview
  7.2.2 Fluorosilicone Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)
7.3 Perfluorocarbon Elastomers
  7.3.1 Overview
  7.3.2 Perfluorocarbon Elastomers Market Volume, Revenue and Forecast to 2030 (Tons) (US$ Million)

8. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET ANALYSIS - APPLICATION

8.1 O-Rings
  8.1.1 Overview
  8.1.2 O-Rings Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Seals and Gaskets
  8.2.1 Overview
  8.2.2 Seals and Gaskets Market Revenue and Forecast to 2030 (US$ Million)
8.3 Hoses
  8.3.1 Overview
  8.3.2 Hoses Market Revenue and Forecast to 2030 (US$ Million)
8.4 Molded Parts
  8.4.1 Overview
  8.4.2 Molded Parts Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
  8.5.1 Overview
  8.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)

9. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET ANALYSIS - END-USER

9.1 Automotive
  9.1.1 Overview
  9.1.2 Automotive Market, Revenue and Forecast to 2030 (US$ Million)
9.2 Aerospace
  9.2.1 Overview
  9.2.2 Aerospace Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Oil and Gas
  9.3.1 Overview
  9.3.2 Oil and Gas Market, Revenue and Forecast to 2030 (US$ Million)
9.4 Semiconductors
  9.4.1 Overview
  9.4.2 Semiconductors Market, Revenue and Forecast to 2030 (US$ Million)
9.5 Energy and Power
  9.5.1 Overview
  9.5.2 Energy and Power Market, Revenue and Forecast to 2030 (US$ Million)
9.6 Others
  9.6.1 Overview
  9.6.2 Others Market, Revenue and Forecast to 2030 (US$ Million)

10. MIDDLE EAST & AFRICA FLUOROELASTOMERS MARKET - COUNTRY ANALYSIS

10.1 Middle East & Africa
  10.1.1 Middle East & Africa Fluoroelastomers Market Revenue and Forecasts and Analysis - By Countries
    10.1.1.1 Middle East & Africa Fluoroelastomers Market Breakdown by Country
    10.1.1.2 South Africa Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
    10.1.1.3 South Africa Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
      10.1.1.3.1 South Africa Fluoroelastomers Market Breakdown by Type
      10.1.1.3.2 South Africa Fluoroelastomers Market Breakdown by Type
      10.1.1.3.3 South Africa Fluoroelastomers Market Breakdown by Application
      10.1.1.3.4 South Africa Fluoroelastomers Market Breakdown by End-User
    10.1.1.4 Saudi Arabia Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
    10.1.1.5 Saudi Arabia Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
      10.1.1.5.1 Saudi Arabia Fluoroelastomers Market Breakdown by Type
      10.1.1.5.2 Saudi Arabia Fluoroelastomers Market Breakdown by Type
      10.1.1.5.3 Saudi Arabia Fluoroelastomers Market Breakdown by Application
      10.1.1.5.4 Saudi Arabia Fluoroelastomers Market Breakdown by End-User
    10.1.1.6 UAE Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
    10.1.1.7 UAE Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
      10.1.1.7.1 UAE Fluoroelastomers Market Breakdown by Type
      10.1.1.7.2 UAE Fluoroelastomers Market Breakdown by Type
      10.1.1.7.3 UAE Fluoroelastomers Market Breakdown by Application
      10.1.1.7.4 UAE Fluoroelastomers Market Breakdown by End-User
    10.1.1.8 Rest of Middle East & Africa Fluoroelastomers Market Volume and Forecasts to 2030 (Tons)
    10.1.1.9 Rest of Middle East & Africa Fluoroelastomers Market Revenue and Forecasts to 2030 (US$ Million)
      10.1.1.9.1 Rest of Middle East & Africa Fluoroelastomers Market Breakdown by Type
      10.1.1.9.2 Rest of Middle East & Africa Fluoroelastomers Market Breakdown by Type
      10.1.1.9.3 Rest of Middle East & Africa Fluoroelastomers Market Breakdown by Application
      10.1.1.9.4 Rest of Middle East & Africa Fluoroelastomers Market Breakdown by End-User

11. INDUSTRY LANDSCAPE

11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition

12. COMPANY PROFILES

12.1 The Chemours Co
  12.1.1 Key Facts
  12.1.2 Business Description
  12.1.3 Products and Services
  12.1.4 Financial Overview
  12.1.5 SWOT Analysis
  12.1.6 Key Developments
12.2 AGC Inc
  12.2.1 Key Facts
  12.2.2 Business Description
  12.2.3 Products and Services
  12.2.4 Financial Overview
  12.2.5 SWOT Analysis
  12.2.6 Key Developments
12.3 3M Company
  12.3.1 Key Facts
  12.3.2 Business Description
  12.3.3 Products and Services
  12.3.4 Financial Overview
  12.3.5 SWOT Analysis
  12.3.6 Key Developments
12.4 Solvay SA
  12.4.1 Key Facts
  12.4.2 Business Description
  12.4.3 Products and Services
  12.4.4 Financial Overview
  12.4.5 SWOT Analysis
  12.4.6 Key Developments
12.5 Daikin Industries Ltd
  12.5.1 Key Facts
  12.5.2 Business Description
  12.5.3 Products and Services
  12.5.4 Financial Overview
  12.5.5 SWOT Analysis
  12.5.6 Key Developments

13. APPENDIX

13.1 About The Insight Partners


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