FKM Driving the fluoroelastomer Market in Asia

FKM Driving the fluoroelastomer Market in Asia

Asia-Pacific Fluoroelastomers Outlook (FKM, FVMQ and FFKM)

Asia-Pacific is the fastest growing consumer of fluoroelastomers accounting for over 43% of the global demand and forecast to grow at 5% between 2018 and 2025 to reach 23270 tons by 2025. As a result of the continued shift of automobile production away from the mature markets to the developing regions in Asia-Pacific, the demand for fluoroelastomer in Asia-Pacific was estimated to be a little around 15779 tons in 2017. The financial crisis that started in late 2007 did not have any severe impact as countries like China and India still witnessed growth. There was a small decline in some of the industries that fluoroelastomers sells into, especially the automotive and electrical and electronics industry. A number of automotive manufacturers have already announced their projects while other foreign players are likely to set up automotive plants in the region.

In 2017, FKM demand in the region was estimated at 14409 accounting for almost 91% of the total fluoroelastomers demand. FVMQ and FFKM share out of total fluoroelastomers was estimated at 9% and 0.2%,respectively.

Asia-Pacific Fluorocarbon Elastomers

China accounts for almost 50% of the Asia-Pacific fluorocarbon elastomer demand. The demand in China was around 4590 tons in 2010 and it has grown to 7060 tons in 2017. The market is expected to grow at a CAGR of 6.0% in the long-term forecast to 2025. Japan accounts for 20.9% while South Korea accounts for a share of around 10% of the Asia-Pacific demand. In the long-term forecast, China and India are expected to witness the highest growth rates in region.

Asia-Pacific has the presence of countries in which the electrical & electronics industry plays an important role in GDP.The region has high predicted growth rates on the back of China, India and other developing economies.

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Asia Pacific FKM Demand by End-use (2010-2025)