Fluoroelastomer Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Fluoroelastomer in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Fluoroelastomer Price Trend for the Q1 of 2024

Asia

The Asian countries noted a slight surge in the prices of fluoroelastomer due to several factors, including rising upstream crude oil values, elevated freight rates, and a consistent decline in US-origin shipments. However, despite these increases, demand remained subdued as supplies were quite adequate, limiting the extent of the incline of the fluoroelastomer price trend.

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The absence of US shipments was attributed to higher freight charges and disruptions caused by Red Sea Houthi rebel attacks on container vessels. However, as the quarter approached its termination, the trajectory of the fluoroelastomer price trend began to oscillate, balancing cost escalations against weak downstream inquiries from overseas players. The downstream automotive industries, however, extended suitable support to the fluoroelastomer market and helped in the upswing of its pricing trajectory.

Europe

Since the advent of the new year, the fluoroelastomer prices have shown resilience in the European countries, despite the ongoing Red Sea crisis causing maritime logistics challenges. The import pressure increased on European countries, mainly from the USA and Mexico as China reduced its production volumes.

Despite weak supply-demand fundamentals, industry players raised their price hikes in Q1 2024 as logistics disruptions and soaring freight rates guided the market in the northward direction. The buyers engaged in restocking activities amid uncertainties surrounding import arrivals and higher freight rates from the US. The ongoing conflict in the Red Sea also disrupted the global economic recovery, elevated inflationary pressures, and impacted downstream industries like construction.

North America

In the latter months of the first quarter of 2024, the fluoroelastomer market in the USA witnessed a significant price surge, inflated by positive sentiments in the automobile and aircraft sectors. Despite challenges such as Boeing's recent issues, both sectors remained active, with Boeing reporting increased aircraft orders.

Despite economic shifts and sector-specific challenges, it also supported the fluoroelastomer market, reflecting suppliers' balanced approach. The bullish momentum for the fluoroelastomer prices market was further driven by a rise in the cost of feedstock raw materials and crude oil during the first quarter of 2024. The effective management of inventories by suppliers and demand increases also drove the prices of fluoroelastomer in an upward direction.

Analyst Insight

According to Procurement Resource, the price trend of Fluoroelastomer is expected to be driven by the rising expenditure in the automotive and aerospace industries and improving global economic position in the forthcoming quarters of 2024.

Fluoroelastomer Price Trend for the October - December of 2023

Asia

Fluoroelastomers or FKM (Fluorocarbon Rubber) or FPM (Fluorinated Rubber) are synthetic rubbers with elevated heat and chemical resistance. Owing to its strength and elasticity Fluoroelastomers are capaciously used to make components like seals, gaskets, O rings, etc., in various industrial sectors like refineries, electronics, aircraft manufacturing, etc. Market demands from these industries pushed the prices up for the manufacturing economies like China.

Fluoroelastomer observed a relatively better performance in the Chinese market compared to the other major global markets. The Indian market, however, was dealing with overstocked inventories, and the suppliers cut down the prices in order to maintain the stock movement. Overall, very mixed market trend were witnessed during the given time span of Q4’23.

Europe

The European market trend for fluoroelastomer were largely regressive during the final quarter of the year 2023. The price graph showed downhill fluctuations primarily because of the plunging demand outlook of the discussed quarter ending in December’23. Some occasional upward peaks were observed in the price graph, but the overall market inclination remained negative for the entire period. Overall, depreciating market trend were witnessed for fluoroelastomer during the said period.

North America

The North American fluoroelastomer market mirrored the European trend during the last three months of the year 2023. The prices plunged because of a tepid demand trajectory and the fall in crude oil prices. Further, the freight disturbances owing to low water levels in the Panama Canal impacted the fluoroelastomer prices; overall, dull market trend were witnessed.

Analyst Insight

According to Procurement Resource, Fluoroelastomer price trend are estimated to fall further in the coming months as, given the current macroeconomic indicators, the demand outlook doesn’t look very positive for the coming quarter.

Fluoroelastomer Price Trend for the July - September of 2023

Asia

The Asia-Pacific countries witnessed significant growth in the automotive sector as the availability of semiconductors improved in the sector. However, this surge in the demand for fluoroelastomer from the automotive sector was not sufficient in pushing its price trend in the northward direction. The negative drift in the price trend was further escalated by the downfall in the cost of raw materials and an increase in the competitiveness of the market, due to which the traders had to reduce their price quotations.

Europe

The fluoroelastomer prices endured struggling market conditions in the first half of the third quarter but moved towards a stable trajectory during the end phase. Initially, reduction in cost of production, declining rates of feedstock prices, and fluctuating prices of crude oil kept the fluoroelastomer price trend in the negative zone. In the second half, however, the demand from the end-user industries and improving market statistics led to the rise in the trajectory of the fluoroelastomer price graph.

North America

The fluoroelastomer price trend initiated the third quarter on a positive note as the strong demand sentiments from the end-user industries and the effective functioning of the supply chains were able to maintain the supply-demand equilibria. But soon, the destocking activities, lowering in the cost of production, and consistent decline in the number of new orders forced the fluoroelastomer prices to move into the bearish zone. However, soon, the demand from the automotive industries rebounded and stabilized the falling fluoroelastomer prices.

Analyst Insight

According to Procurement Resource, the price trend of Fluoroelastomer are estimated to follow an inclining trajectory as the demand from the automotive sector seems to be improving in the upcoming quarter.

Fluoroelastomer Price Trend for the First Half of 2023

Asia

A gradual incline in the price trend of Fluoroelastomer was seen in the first quarter of 2023. The movement was supported by the rise in the number of orders from the automotive industries, especially in the month of February. However, the trend slumped in the second quarter, with only a slight incline in the month of May.

The northward trajectory of the price trend of Fluoroelastomer was put to an end in the second quarter by the excess availability of the product and an increase in the competitive spirit of the market. The region also struggled to maintain a balance in its supply and demand dynamics. In May, the Fluoroelastomer market gained some support from the increase in consumption rates and strong movement of the automotive sector.

Europe

The Fluoroelastomer price trend fluctuated throughout the first two quarters of 2023. During the initial months of Q1, the trend fell but inclined in the later months of the first quarter and in the initial phase of the second quarter. The region was supported by the semiconductor market and inclining automobile output that caused the demand for Fluoroelastomer to rise significantly. However, the market dynamics slipped in the second half of Q2. The European industrial activities declined, and with rising interest rates and economic uncertainties, the price trend of Fluoroelastomer faced southwards.

North America

The trend of Fluoroelastomer followed an inclining trajectory in the majority of the phases of the first and second quarter of 2023, but only a slight decline in the month of April was observed. The enhanced market activities of semiconductor industries supported the sales of the automotive sector and led to the rise in demand for fluoroelastomers.

A slight slowdown of the market in March-April was due to the economic stress of the fall of two major US banks. These conditions raised uncertainties in the market and caused the rates of inflation and interest to rise significantly, but the demand for the product soon supported the rising trajectory of Fluoroelastomer prices.

Analyst Insight

According to Procurement Resource, the price trend of Fluoroelastomer is expected to showcase an oscillating trajectory given the improving yet erratic demands from automobile industries.

Procurement Resource provides latest prices of Fluoroelastomer. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.