FLUOROSILICONE ELASTOMERS MARKET Strategic Assessment Of Evolving Technology, Growth Analysis, S

Pune, Sep 12, 2019 (Issuewire.com) – The global demand for fluorosilicone elastomers (FVMQ) market was about 3,423 tons in 2014 and the market is forecast to grow at a CAGR of 5% in the long-term forecast till 2025. The global average operating rates were estimated to be around 56%. The fluorosilicone elastomers demand is estimated to reach 5049 tons by 2025 owing to the growth in automotive as a result of car build and partly increase the use of fluorosilicone elastomer for better efficiency. Developments in the aerospace and industrial sector are also expected to add to the growth. 

In 2010, North America, Western Europe, and Asia-Pacific, accounted for 30%, 26% and 39% of global consumption of fluorosilicone elastomers (FVMQ). There are only 3 major players and the largest capacity is North America. Demand growth in developing economies like Asia-Pacific is projected to grow at an average of 7.4%. Central & Eastern Europe is forecast to grow at CAGR of 4.1%, albeit from a small base. There has been some overcapacity globally, the average operating rates are expected to improve in the long-term forecast.

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The global FVMQ demand is estimated to have been 3,423 tons. Strong automotive sales in North America and Asia-Pacific countries like China and India along-with demand from the industrial application is expected to drive the global demand growing at an annual average of 5%.

Automotive application will continue to dominate the FVMQ end-use followed by aerospace. In 2017, automotive applications accounted for 57% of the total demand followed by aerospace and Industrial at 16% and 12%, respectively. The third biggest end-use of FVMQ is of industrial applications; however, it accounts for a small volume in comparison to automotive and aerospace. Other trends to gradually reduce the weight to achieve fuel efficiency and stringent emission laws would favour the growth of FVMQ. 

For More Report :- https://prismaneconsulting.com/reports

Source :Prismane Consulting

This article was originally published by IssueWire. Read the original article here.

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