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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