Global Fluorocarbon Elastomers Market

Global Fluorocarbon Elastomers Market

Global demand for fluorocarbon elastomers (FKM) is driven in large part by the development of the automotive, aerospace and industrial uses and to a lesser degree by other applications like oil & gas, semiconductor. Of the total FKM consumed in 2017, about 62% were used for automotive applications followed by industrial uses accounting for more than 14% of the total.

Global Fluorocarbon Elastomer Demand-Supply Analysis (2010 – 2025)

Asia-Pacific is the biggest market at a global level in 2017 with a consumption of almost 14409 tons accounting for almost 44% of the global fluoroelastomer demand. The region has benefited as some of the automotive and electrical & electronics manufacturing has seen a shift from Western Europe to Asia-Pacific countries like China, India, Vietnam, South Korea and other South East Asian countries. Asia-Pacific is estimated to grow at a high CAGR of 4.7% in the long-term forecast till 2025. North America is the second biggest market and the total demand was estimated to be 9076 tons accounting for share of 28% and is estimated to grow at a high CAGR of 2.6% on account of increase in automotive, aerospace and recovery in the oil & gas industry. Western Europe fluorocarbon elastomers consumption in 2017 has been estimated at 7895 tons while other regions like Central & Eastern Europe, Central & South America and Middle East & Africa together account for around 5% market share.

Global Fluoroelastomers Market

The global fluoroelastomers demand in 2017 was estimated to beabout 36420 tons which has grown at an aggregate rate of 3.8% per annum between2010 and 2017. Utilization rates for fluoroelastomers globally averaged nearlyat about 63% in 2017. The operating rates have declined in comparison to thepre-recession levels as new global size production capacities have comeon-stream from 2010 onwards. The demand for fluoroelastomers was affected in2008-2009 with market contracting by an average of more than 5%, however, thedemand recovered steadily after that and reached its pre-recession level by2010. In 2010, global demand exhibited strong growth, resulting in an improvementin the global utilization rate to around 70%. The perfluoroelastomers capacities have almost been operating at full rates.

Global Fluoroelastomers Demand, by Type – 2017

FKM accounted for the largest share in terms of over all fluoroelastomers market with a share of more than 90% in 2016. The second biggest demand was for fluorosilicone elastomers (FVMQ) accounting for less than 10% followed by perfluoroelastomers accounting for a very small share of 0.3%.

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