Recently, the European fluororubber market has shown an upward trend, mainly driven by the growth in demand from key downstream industries, with the automotive, aerospace and defense industries performing particularly well. The significant surge in economic activity and the active accumulation of suppliers in the Vitorubber market across Europe have played an important role in the strong performance of various industries, which in turn has affected demand for Vitorubber in core industries.
It is understood that in Europe, the Netherlands 'fluororubber market has experienced significant growth, with the price reaching US$49,500/ton FOB-Rotterdam, an increase of 0.61% in late February. This growth occurred against the backdrop of a healthy economy in the euro zone. Although the eurozone faced the risk of a technical recession in the second half of 2023, recent data suggest that economic activity may have bottomed out after contracting 0.1% in the third quarter and stagnating in the fourth quarter. Business confidence reached a five-month high, and rising real wages also helped improve consumer confidence.
The surge in fluororubber prices in Europe can be attributed to key factors such as active production in the automotive industry and increased orders in the aerospace and defense sectors. As global supply chain interruptions gradually eased, the European automotive industry began to recover strongly and production increased significantly. In view of the important role of fluororubber in the manufacturing of various automotive parts, the demand for fluororubber in the automotive industry has also shown corresponding growth. At the same time, increased activity in the aerospace and defense sectors has also created strong demand for the fluororubber market, further driving up prices.
