Fluoroelastomer Pricing Report

Fluoroelastomer Prices December 2023

In the U.S. Market, fluoroelastomer prices declined in Q4 2023 due to reduced crude oil prices. Despite a rise in U.S. vehicle sales in December, economic challenges persisted. Declining output and new orders indicated vulnerabilities in domestic and external demand. Reduced crude oil prices lowered production costs for fluoroelastomer, maintaining ample inventory. Challenges in the Panama Canal led to procurement strategy adjustments. Fluoroelastomer concluded the quarter at 34850 USD/MT FOB-USGC, down 1.23%.   

In Japan, the fluoroelastomer market in Q4 2023 displayed a bearish trend in the Asia-Pacific region. Despite robust demand from the automotive sector in Asian countries and strong aerospace sales in India, an oversupply situation persisted. This trend was influenced by fluctuating economic conditions and global supply and demand dynamics. Suppliers maintained ample inventories, responding to lower bids by reducing ex-quotation prices. Fluoroelastomer concluded the quarter at 23240 USD/MT FOB - Tokyo, down 4.95%.

In Belgium, the fluoroelastomer market in Q4 2023 experienced a bullish trend in Europe. This was primarily influenced by low supply and subdued demand from the automotive sector. Despite declining crude oil prices, geopolitical tensions across the Red Sea increased importing costs, exacerbated by port congestion. Minimal price fluctuations occurred due to a well-balanced supply and demand. Fluoroelastomer MV 30 FD in Antwerp concluded the quarter at 50210 USD/MT, up 7.09%.

Fluoroelastomer Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Fluoroelastomer Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of fluoroelastomer pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing fluoroelastomer price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Fluoroelastomer Market Analysis

The global fluoroelastomer market size reached US$ 1.7 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.2 Billion, at a projected CAGR of 2.80% during 2023-2032.

• Significant growth in the automotive industry propels the growth of the market. This can be attributed to their ability to withstand fuels, oils, and extreme temperatures. With the expanding automotive industry particularly in emerging markets, such as China and India, there is an increase in the demand for fluoroelastomers.    
• The increase in fuel economy goals and environmental regulations establishes a greater need for the high-performance elastomers, such as the fluoroelastomers (FKMs). These materials will play a vital role in increasing fuel system component performance and contribute to better fuel efficiency and lower emissions.  
• The aerospace industry is another dominant factor which escalates the growth of the fluoroelastomer industry. Moreover, fluoroelastomers are used in important aerospace applications, which include seals, O-rings, and gaskets, as they offer good performance in extreme temperatures, fuel, and hydraulic fluids environments. The rising demand for air travel and space technology development will result in a steady growth in Fluoroelastomer applications.
• According to a survey conducted on commercial aircraft, airbus anticipates a transformation in the air transport sector, where the focus will transition from expanding fleets to the expedited retirement of older, less fuel-efficient aircraft. This shift is projected to necessitate approximately 39,000 new-built passenger and freighter aircraft, with 15,250 of these intended for replacement purposes.
• The expanding industrialization projects and construction businesses around the globe continue to generate the demand for Fluoroelastomers. These materials are widely employed in a variety of sectors including chemical processing, oil and gas, power generation, and construction. As countries tend to invest in infrastructure upgrades and industrial expansion, the demand for Fluoroelastomers increases.   
• Leading manufacturers are creating new formulations with enhanced properties, including better chemical resistivity, higher temperature stability, as well as better mechanical properties. These innovations help Fluoroelastomers to meet the changing demands of the industries and expand into new application areas.  
• Government policies with respect to automobile pollutants, safety, and environmental protection are initiated by the regulations that are primarily responsible for the application of high-performance materials, such as Fluoroelastomers. These materials are instrumental in helping manufacturers deal with regulations as well as guarantee the quality and durability of their products.     
• The oil-and-gas- well as the processing industry uses Fluoroelastomers as one of the significant end-users on the basis of the strenuous operating conditions encountered in the exploration, production, and refinement procedures. FEO’s find applications in the form of seals, gaskets, and related components to endure contact with chemicals, high pressures, and extreme temperatures. With the escalating global energy requirements, the demand for Fluoroelastomers in the oil and gas sector is anticipated to go upwards.

Fluoroelastomer News

The report covers the latest developments, updates, and trends impacting the global fluoroelastomer market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in fluoroelastomer production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the fluoroelastomer industry:

• 23 May 2022, The Chemours Company, announced an industry-leading sustainable process innovation to produce Advanced Polymer Architecture (APA) grade Viton™ fluoroelastomers, without the use of a fluorinated polymerization aid.​ Viton™ APA grade fluoroelastomers enable products and applications critical for several markets​, including transportation, advanced electronics, industrial manufacturing, and oil and gas.
• 18 April 2022, AGC Chemicals Americas introduced AFLAS® FFKM PM-3500 perfluorinated elastomer. This material provides exceptional high-temperature, high-pressure performance to equipment parts like O-rings and seals that operate in the most challenging conditions.

Product Description

Fluoroelastomers are synthetic rubbers that possess exceptional thermal and chemical stability, fuel, oil, and solvent resistance. The elastomer consists of a recycle of saturated carbon-fluorine bonded moieties and carbon-hydrogens bonds with fluorine being the main player.

They provide a perfect shield as they are very responsive to a large group of chemicals such as acids, alkalis, alcohols, and hydrocarbons which makes them most suitable when working in such harsh chemical environments. Furthermore, fluoroelastomers exhibit low compression set, high tensile strength, and outstanding aging properties that discriminate them as durable and reliable materials in stringent industrial settings.

These products are mainly used in automotive, aerospace, oil and gas, chemical processing, and semiconductor industries due to their superior performance properties. They are applied to different areas, including seals, gaskets, O-rings, hoses, diaphragms, and coatings where it is imperative to insist on the heat, chemical and extreme condition resistance.

Regional Coverage

The report provides a detailed analysis of the fluoroelastomer market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.

Global Fluoroelastomer Price

The report offers a holistic view of the global fluoroelastomer pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.

North America Fluoroelastomer Price

In North America, the Fluoroelastomer market experienced a decline in Q4 2023, mirroring the reduction in Crude Oil prices. Despite a rise in U.S. vehicle sales, economic challenges persisted. Declining output and new orders revealed vulnerabilities in domestic and external demand. Reduced crude oil prices lowered production costs for Fluoroelastomer, maintaining ample inventory. Challenges in the Panama Canal prompted companies to adjust procurement strategies, while a contraction in the European automobile market impacted exports, contributing to the quarter's price decline.

Specific data on fluoroelastomer prices within the United States and Canada can also be provided.

Asia Pacific Fluoroelastomer Price

In the Asia-Pacific (APAC) region, fluoroelastomer prices experienced a bearish trend in Q4 2023, driven by an excess of supply despite strong demand from the automotive and aerospace sectors. Economic conditions varied, and global supply and demand dynamics fluctuated. Suppliers maintained sufficient inventories, responding to lower bids by reducing prices. With a prevailing downtrend, suppliers adopted a cautious approach, leading to a decline in prices.   

This analysis can be further extended to include detailed fluoroelastomer prices for a comprehensive list of countries within the region.

Europe Fluoroelastomer Price

In Europe, fluoroelastomer prices in Q4 2023 exhibited a bullish trend due to low supply and subdued demand from the automotive sector. Declining crude oil prices helped manage production costs, but geopolitical tensions increased importing costs. Despite a well-balanced supply and demand, minimal price fluctuations occurred. Germany's interest rates declined, affecting retailer consumption. Rising global energy costs and economic contraction led to a price increase.

This analysis can be extended to include detailed fluoroelastomer price information for a comprehensive list of countries.

Middle East and Africa Fluoroelastomer Price

The report explores the fluoroelastomer pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on fluoroelastomer prices for countries can also be provided.

Latin America Fluoroelastomer Price

The analysis of fluoroelastomer prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of fluoroelastomer pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting fluoroelastomer price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the fluoroelastomer industry.