H1 2023: The main producers of Fluoroelastomer in H1 2023 were Solvay SA and Halopolymer OJSC. During H1 2023, Fluoroelastomer prices went up and down in the European region. In the German market, Fluoroelastomers prices sharply inclined from February 2023 as China's market finally opened up. Fluoroelastomer demand in the automotive sector increased as a result of increased output and increased supply. Additionally, the European market witnessed increased auto sales till March 2023, which eventually increased queries for fluoroelastomers in Europe. Due to rising demand from the international market, prices in the Netherlands originally rose in April 2023. The price of the product for export rose as demand from the European market grew as a result of the automobile industry's strong market performance. Additionally, the Netherlands' automobile industry increased its use of fluoroelastomers. Due to the excess availability of the stockpiles, the demand sentiment for fluoroelastomer was muted in the period of mid-May 2023 to June 2023. The market value of fluoroelastomer decreased as a result of the large reduction in upstream expenses brought by the low cost of raw materials and energy rates across Europe. On the other hand, in Germany, similar scenario was observed with the fall in FKM prices in the time frame of mid-May 2023 to June 2023.
The Europe Fluoroelastomer (FKM) market volume had reached approximately 8.3 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.19% during the forecast period until 2032.
FKM is used in the automobile industry to create electrical connectors, diaphragms, shaft seals, check valve balls, clips for jet engines and lathe-cut gaskets, among other things. In the projection period, it is anticipated that the demand for FKM in the aerospace industry will skyrocket. The premium-quality FKM-made components maintain their stability under adverse circumstances, such as extremely low and high temperatures. FKM is used to make a variety of parts in the aerospace industry, including sheet stock gaskets, fuel hoses, fuel injector O-rings, valve liners, and O-ring seals. In order to avoid corrosion, fluoroelastomers are used in the chemical processing industry.
The automotive industry is expected to maintain its dominant position as the principal user of FKM in Europe. Germany is likely to continue to be home to some of the biggest automotive markets. At the same time, the electronics industry is likely to be a substantial consumer of FKM in Europe and acting as a market driver. The demand for these elastomers is rising dramatically in Europe as a result of significant automotive and aerospace producers like Dassault Aviation and Airbus. Major contributions to the demand for fuel included the UK, France, and Germany. Due to its widespread use in the chemical and oil & gas sectors, the FKM market's growth and is expected to continue swell in the future. The market size is estimated to reach roughly 11.4 thousand tonnes in 2032.
Regionally, the European FKM Elastomers demand is divided into Eastern Europe, Southern Europe, Western Europe and Northern Europe. Although, Eastern Europe is dominating the FKM market and held a holding of approximately 40% FKM market in 2022. Russia in this region consumes a large portion of the market and is likely to dominate the market in the forecast period.
Based on the end-user industry, the Europe FKM market is segmented into Automotive, Chemicals & Petrochemicals, Industrial, Aerospace, and others. However, the automotive industry now consumes the majority of FKM and is expected to continue doing so in 2032. Due to the strong demand for products like gaskets and hoses, the aerospace sector also considerably contributes to market growth. The Industrial segment are anticipated to expand significantly during the projection period because of the high oil resistance and sealing applications.
Major players in the production of Europe FKM are Solvay SA, Halopolymer OJSC, and Others.
Years considered for this report:
Historical Period: 2015- 2022
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 Europe 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 Europe 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 Europe 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 consumption of raw material to produce Fluoroelastomers. 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:
• Fluoroelastomers manufacturers and other stakeholders
• Organizations, forums and alliances related to Fluoroelastomers 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 Fluoroelastomers manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Fluoroelastomers 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
8.3 thousand tonnes
Market size Volume by 2032
11.4 thousand tonnes
Growth Rate
CAGR of 3.19% from 2023 to 2032
Base year for estimation
2023
Historic 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, Capacity by Process, 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)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Eastern Europe, Southern Europe, Western Europe and Northern Europe
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Member - Board of Directors
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Which part of Europe is leading as a consumer of the Europe Fluoroelastomer (FKM) market?
Ans:
Eastern Europe is the largest consumer of the Europe Fluoroelastomer (FKM) market.
Q2.
Which end-use industry is dominating the Europe Fluoroelastomer (FKM) market?
Ans:
The Automotive industry is dominating the Fluoroelastomer (FKM) market with a market share of roughly 63% in 2022.
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