The global fluoroelastomers demand in 2017 was estimated to be about 36420 tons which grew at an aggregate rate of of3.8% per annum between 2010 and 2017. Global demand is expected to grow to nearly 48172 tons by 2025, with a growth rate of 3.7%.

According to Prismane Consulting s Global Fluoropolymers & Fluoroelastomers market model, utilization rates for fluoroelastomers globally averaged nearly at about 63% in 2017. The operating rates have declined in comparison to the pre-recession levels as a new global size production capacities came on-stream from 2010 onwards. The demand for fluoroelastomers was affected in 2008-2009 with market contracting by an average of more than 5%, however, the demand recovered steadily after that and reached its pre-recession level by 2010. In 2010, global demand exhibited strong growth, resulting in an improvement in the global utilization rate to around 70%. Theperfluoroelastomers capacities have almost been operating at full rates.

FKM accounted for the largest share in terms of the overall fluoroelastomers market with a share of more than 90% in 2017. The second biggest demand was for fluoro silicone elastomers (FVMQ) accounting for less than 10% followed by perfluoro elastomers accounting for a very small share of 0.3%.

The global fluorocarbon elastomers was valued at USD 1,113 million in 2017 and is projected to reach USD 1,518 million by 2025, at a CAGR of 3.9%. Increasing demand for turbocharger hoses and oil cooler hoses from automotive manufacturers are expected to fuel the demand for seals & hoses in the automotive industry.