Perfluoropolyether Market By Product (PFPE-K, PFPE-M, PFPE-Z, PFPE-Y, PFPE-D), By Type (Grease, Oil), By End-Use (Automotive, Aerospace, Electronics, Chemical & Petrochemical, Food Processing, Metal Processing, Medical Industry Equipment, Power Generation, Textile, Pulp & Paper), Industry Outlook Report, Regional Analysis, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025The product demand in increasing on account of efficiently utilizing the machine parts along with adoption of premium lubricants which will lead to cost effectiveness in the long term These oils are usually adopted due to their high efficacy and property of withstanding high temperature, which is a obligatory requirement in chemical, aerospace and automotive industriesStringent regulations regarding lubricants and greases will benefit PFPE market owing to its effectiveness even when applied in a very low amount. Key players in the industry are Solvay, The Chemours Company, Klüber Lubrication, Nye Lubricants and Daikin Industries, IncDistribution agreements and capacity expansion are few of the strategies adopted by the manufacturers and marketers
Perfluoropolyether Market is expected to exceed USD 350 million by 2025. Growing product requirement from aerospace sector owing to its lightweight and multifunctional characteristics which fits the space mechanisms will support the industry growth.
Some major findings of the perfluoropolyether market report include:
Growing product usage in chemical, electronics and power generation industries owing to its long lasting lubrication, which eliminates the need for lubricating the machine parts in regular intervals. Its performance in high temperature application increases the overall efficiency of the machine, which will support the perfluoropolyether market growth in the long term.
The product is extensively used in aerospace industry and helps in reducing the overall cost acquired for every pound in overall weight added during space operations. It also eliminates the need for utilizing heavier lubricants and greases which can lead to additional cost along with minimizing technical and mechanical difficulties.
Propagating PFPE demand in food processing, chemical & petrochemical and medical industry has decreased the use of other synthetic lubricants. These lubricants are cheaper as compared to PFPE but does not functional well in industries with varying temperature and continuous wear and tear of the machine parts. These factors are likely to positively impact perfluoropolyether market and make it a go to product for different high temperature and complex industrial operations.
The market is gaining popularity in electronics industry owing to its long lasting nature which results in extended life for devices. Adoption of products in electronic devices has resulted in lower cost of ownership due to its high performance in challenging environment. Its thermal stability and ability of withstanding high temperature makes it ideal for semiconductor and sensitive electronics manufacturing.
Perfluoropolyether market growth can be attributed to increasing demand for PFPE-Z, which is inflammable with strong oxidants. It does not react with plastics, metals and rubber, making it superlative product for industrial applications. These products also posses strong insulating properties which can be utilized in mining & power generation industries. Strict safety regulations along with routine inspection of machine parts has led to incorporation of these products in order to carry out smooth operations.
Rising inclination of food manufacturers towards automation owing to a decrease in human contact to maintain food safety has increased demand for automatic lubrication systems. Perfluoropolyether lubricants are utilized in food processing machinery for smooth factory operations and efficient output.
Growth in the Asia Pacific chemical industry has resulted in increasing demand for PFPE products due to its strong performance when applied in thermal exchanger and testing equipment’s. Expansion by multinational chemical manufacturers in Asia Pacific in order to get a strong foothold and cater the ever growing regional demand has also resulted in the usage of sophisticated, high performance and niche products including perfluoropolyether.
Manufacturers are involved in capacity expansions and distribution agreements to cater the expanding perfluoropolyether market. The manufacturers are also conducting extensive R&D activities in order to formulate the products in different applications and make it more commercially viable option for end-users.