PRESS RELEASE
Posted on April 3, 2023
New research from Future Market Insights on perfluoropolyether market It includes a global industry analysis from 2014-2021 and an opportunity assessment for 2022-2029. The global perfluoropolyether market is estimated to reach US$ 758.8 million by 2022 and grow at a CAGR of ~4.3% during the forecast period 2022-2029.
The report explores the Perfluoropolyether market and provides the reader with analytical information for the forecast period 2022-2029. According to the findings of the report, the global perfluoropolyether market is expected to experience steady growth during the forecast period owing to multiple driving factors such as increasing aerospace, automotive, and electronics manufacturing activities through of geographies.
This progress in the market is mainly driven by the increasing consumption of perfluoropolyether as lubricants for automotive, chemical and aerospace applications, such as wheel bearings and vacuum pumps, and for high temperature procedures.
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Sensing an increase in the deployment of new aircraft, especially in the developing countries of Asia Pacific, manufacturers are taking advantage of the new opportunities in the region. Increasing demand for highly efficient lubricants in the chemical and automotive industries is likely to work in favor of the perfluoropolyether market players.
Europe and North America lead gains, South Asia to offer more opportunities
While regions such as Europe and North America are expected to hold significant market shares, the South Asia market is expected to project steady growth in the global perfluoropolyether market during the forecast period 2022-2029.
In addition, macroeconomic factors such as rising GDP, air transport and production, expansion of the chemical industry, and significant growth in the manufacturing sector are expected to reflect a significant increase in opportunities for market players in perfluoropolyether in South Asia.
Perfluoropolyether is widely used in aerospace and automotive applications
The Perfluoropolyether market is classified into four distinct segments such as form, Perfluoropolyether application, products, and regions.
- By shape, PFPE oil is expected to have a higher value as well as volume share against PFPE grease.
- By product, linear perfluoropolyether is projected to hold a significant value share in the perfluoropolyether market. Linear perfluoropolyether is widely used as a lubricant for superior chemical properties and multiple applications.
- In terms of application, the aerospace and automotive sectors will continue to have a relatively high market share. Increasing end-user preference towards non-toxic lubricants is expected to drive the market. Increasing automobile production is expected to increase the demand for PFPE lubricants. PFPE is also used in other applications such as chemistry and electronics and is recently being used for textile and leather applications.
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Perfluoropolyether Market: Insights from the Players
The Perfluoropolyether market report focuses on various stakeholders, and some of these players have emerged as market leaders. Some examples of such manufacturers in the Perfluoropolyether market are as follows; The Chemours Company FC, LLC, Klüber Lubrication München SE & Co. KG, Solvay SA, TOTAL SA, M&I Materials Ltd, HUSKEY Specialty Lubricants, Daikin Industries Ltd. and NYE Lubricants Inc. and FluoroTech USA among several others.
The global perfluoropolyether market is highly fragmented with several tier 2 and tier 3 players. Key players provide perfluoropolyether under their trademark names such as Fomblin® Series, HUSKEY® PF Series, Vertrel
Specialized fluid XF, Vertrel Specialty MCA Plus fluid® and DEMNUM®, among others.
Perfluoropolyether Market by Category
By form:
- PFPE – Fats
- PFPE – Oil
By product type:
By application:
- automotive
- aerospace
- Chemistry
- electronics
- others
Market Presence in Multiple Geographic Footprints – Strong/Active/Niche/Trivial – Buy the Report! https://www.futuremarketinsights.com/checkout/5647
What was the impact of the COVID-19 crisis on the global Perfluoropolyether market?
With the outbreak of the SARS-COV-2 virus worldwide in the first quarter of 2020 it has caused a decrease in the production of automobiles, airplanes and others. The reduction in vehicle and aircraft movement has significantly affected sales of perfluoropolyether in these application segments.
The additional shutdown of manufacturing industries due to social distancing and lockdowns has also affected the consumption of lubricants and oil worldwide. However, the economic recovery from the second half of 2020 and the opening of the manufacturing sectors boosted consumption leading to a recovery in demand.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce, based in Delaware, USA. As recipients of the 2022 Clutch Leaders Award for a high customer rating (4.9/5), we have partnered with global companies on their business transformation journey and helped them fulfill their business ambitions. 80% of the largest Forbes 1000 companies are our clients. We serve global clients in all leading and niche market segments across all major industries.
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