H1 2023: During H1 2023, prominent producers of Fluoroelastomer on an Asia Pacific scale were Shandong Huaxia Shenzhou New Material Co., Ltd., Dowhon Chemical Group, and Zhejiang Juhua Company Ltd. In the first half of 2023, the Asia Pacific region was the world's top user of Fluoroelastomer by region but the price of Fluoroelastomer fluctuated. In Q1 2023, Fluoroelastomer prices in the Asia Pacific region experienced consistent growth, driven by heightened demand in downstream industries. The automotive sector notably contributed to this upswing, with a significant market spike observed, particularly in February, aligning with increased industrial output and sales in the Asia Pacific region. However, the momentum in the automotive industry decelerated in March 2023. Gujarat Fluorochemicals Limited (GFLC) temporarily closed its site in Dahej, Gujarat, India, for a 10-day maintenance period in March 2023, resuming operations within the same month. April to June 2023 witnessed a decline in Fluoroelastomer prices in Asian countries due to overstock, intensified market competition, excess inventories, and supply saturation. Nevertheless, the surge in demand from downstream industries fuelled a rebound in Fluoroelastomer prices in the month of May, driven by resurged consumption and robust growth of the Asian automotive industry in the month of May & June 2023.
The Asia Pacific Fluoroelastomer market demand stood at 18 thousand tonnes in 2022 and is expected to grow at a CAGR of 5.21% during the forecast period until 2032.
FKM, a fluoro-carbon-based elastomer derived from vinylidene monomers, is a synthetic rubber designed for high-temperature functionality. Resistant to chemical attack from fuels, oxidation, oil, and acids, FKM boasts an operational range from -20 to 200 degrees Celsius. It exhibits durability against strong bases, oils, aromatic hydrocarbons, and steam, ensuring long-term reliability even in adverse conditions. Widely applied in industrial settings, FKM serves in O-ring seals, valve liners, fuel hoses, gaskets, and manifold gaskets, outperforming regular rubber in functionality and resistance. The global expansion of fluoroelastomer development is driven by recent advancements, meeting the rising demand in industrial, oil and gas, automotive, and chemical processing applications. The size of the Asia Pacific Fluoroelastomer market is estimated to reach a volume of 30 thousand tonnes by 2032.
Based on region, the APAC Fluoroelastomer market is divided into China, Japan, South Korea, and the Rest of APAC. Among these, China is the top consumer nation in APAC. In 2022, China consumed 60% of the Fluoroelastomer market. The expansion of the APAC Fluoroelastomer market is propelled by the region's burgeoning industrialization, particularly in the automotive, oil and gas, and chemical processing sectors, has significantly elevated the demand for high-performance elastomers. Additionally, stringent regulatory standards and a growing emphasis on quality and reliability in industrial applications drive the adoption of advanced materials like Fluoroelastomers. The rise in manufacturing activities and the need for superior sealing solutions contribute to the market's growth. Furthermore, continuous technological advancements in fluoroelastomer formulations, coupled with increased research and development investments, enhance product performance and broaden application possibilities.
Based on the end-user industry, the Asia Pacific Fluoroelastomer market is segmented into Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and Others. The Automotive Industry dominates the Fluoroelastomer market.
Major players in the production of Asia Pacific Fluoroelastomer are Solvay Specialty Polymers, Shandong Huaxia Shenzhou New Material Co., Ltd., Inner Mongolia 3F Wanhao Fluorochemical Co., Ltd., Chenguang Fluoro & Silicone Elastomers Co., Ltd., Dowhon Chemical Group, Gujarat Fluorochemicals Limited (GFLC), Zhejiang Juhua Company Ltd., Daikin Industries Ltd, and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Fluoroelastomer which covers production, demand and supply of Fluoroelastomer market in the globe.
• To analyse and forecast the market size of Fluoroelastomer
• To classify and forecast Asia Pacific Fluoroelastomer market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Fluoroelastomer market in the globe.
To extract data for Asia Pacific Fluoroelastomer market, primary research surveys were conducted with Fluoroelastomer manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific Fluoroelastomer market over the coming years.
ChemAnalyst calculated Fluoroelastomer demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Fluoroelastomer. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Fluoroelastomer manufacturers and other stakeholders
• Organizations, forums and alliances related to Fluoroelastomer distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Fluoroelastomer manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific Fluoroelastomer market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
18 thousand tonnes
Market size Volume by 2032
30 thousand tonnes
Growth Rate
CAGR of 5.21% from 2023 to 2032
Base year
2022
Estimated Year
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and Others)
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Fluoroelastomer market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Fluoroelastomer.
3. Capacity By Location
To better understand the regional supply of Fluoroelastomer by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Fluoroelastomer by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and Others) are creating a market and the forecast for the growth of the Fluoroelastomer market.
7. Demand by Region
Analyzing the change in demand of Fluoroelastomer in different regions, i.e., China, Japan, South Korea, and the Rest of APAC, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Fluoroelastomer. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Fluoroelastomer.
10. Company Share
Figure out what proportion of the market share of Fluoroelastomer is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Fluoroelastomer.
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resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries
with a global view of production and consumption capacity loss that reflects the corresponding conversion factors.
It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up
of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case
of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the size of Asia Pacific Fluoroelastomer market in terms of volume in 2022?
Ans:
The size of Asia Pacific Fluoroelastomer market has grown significantly in the historic period of 2015-2021 and reached approximately 18 thousand tonnes in 2022.
Q2.
Which industry is leading as the leading consumer of Fluoroelastomer?
Ans:
Automotive industry is the leading consumer of Fluoroelastomer.
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