The global fluoroelastomers demand in 2017 was estimated to be about 36420 tons which has grown at an aggregate rate of3.8% per annum between 2010 and 2017. Global demand is expected to grow tonearly 48172 tons by 2025, with a growth rate of 3.7%.
According to Prismane Consulting globalFluoropolymers & Fluoroelastomers market model, utilization rates forfluoroelastomers globally averaged nearly at about 63% in 2017. The operatingrates have declined in comparison to the pre-recession levels as a new globalsize production capacities came on-stream from 2010 onwards. The demand for fluoroelastomerswas affected in 2008-2009 with market contracting by an average of more than5%, however, the demand recovered steadily after that and reached itspre-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 termsof overall fluoroelastomers market with a share of more than 90% in 2017. Thesecond biggest demand was for fluorosilicone elastomers (FVMQ) accounting forless than 10% followed by perfluoroelastomers accounting for a very small shareof 0.3%.
Theglobal fluorocarbon elastomers was valued at USD 1,113 million in 2017 and isprojected to reach USD 1,518 million by 2025, at a CAGR of 3.9%. Increasingdemand for turbocharger hoses and oil cooler hoses from automotive manufacturersare expected to fuel the demand for seals & hoses in the automotiveindustry.