A new research by Future Market Insights on the perfluoropolyether (PFPE) market includes global industry analysis 2014-2021 and opportunity assessment 2022-2029. The report explores the perfluoropolyether market and provides the reader with analytical insights for the forecast period of 2022-2029.
As per the findings of the report, the global perfluoropolyether market is projected to experience a steady growth over the forecast period, due to multiple driving factors including increasing aerospace, automotive and electronic manufacturing activities across geographies.
The global perfluoropolyether market is estimated to reach ~ US$ 758.8 Mn in 2022, and increase at a CAGR of ~ 4.3% during the forecast period of 2022-2029. This progress in the market is majorly propelled by the growing consumption of perfluoropolyether as lubricants for automotive, chemical and aerospace applications such as wheel bearing and vacuum pump, and for high temperature procedures.
Sensing an increase in new aircraft deployment, especially in developing countries in Asia Pacific, manufacturers are tapping into newer opportunities in the region. Increasing demand for highly efficient lubricants in chemical and automotive industries is further likely to work to the advantage of perfluoropolyether market players.
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Europe and North America Lead Gains, South Asia to Offer Greater Opportunities
Although the regions such a Europe and North America are anticipated to hold significant market shares, the South Asia market is expected to project a steady growth in the global perfluoropolyether market over the forecast period of 2022-2029.
Moreover, macroeconomic factors such as increment in GDP, air transportation as well as production, expanding chemical industry and significant growth of the manufacturing sector, are expected to reflect significant increase in opportunities for perfluoropolyether market players in South Asia.
Perfluoropolyether Used Extensively in Aerospace and Automotive Applications
The perfluoropolyether market is categorized into four different segments such as form, application of perfluoropolyether, products, and regions.
- By form, the PFPE Oil is expected to hold a higher value as well as volume share against PFPE grease.
- By product, the linear perfluoropolyether is projected to attain a significant value shares in the perfluoropolyether market. Linear perfluoropolyethers are widely used as lubricants for the superior chemical properties and multiple applications.
- In terms of application, aerospace and automotive sectors will continue to account for relatively high market share. Increasing preference towards non-toxic lubricants from the end users is expected to drive the market. Increasing automotive production is expected to increase the demand for PFPE lubricants. PFPE is also used in other applications such as chemical and electronics, and is recently being used for textile as well as leather applications.
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Perfluoropolyether Market By Category
- PFPE – Greases
- PFPE – Oil
By Product Type:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
Perfluoropolyether Market: Players Insights
The perfluoropolyether market report focuses on a number of stakeholders, some of these players have come out as the market leaders. Few examples of such manufacturers in the perfluoropolyether market are as follows; The Chemours Company FC, LLC, Klüber Lubrication München SE & Co. KG, Solvay S.A., TOTAL S.A., M&I Materials Ltd, HUSKEY Specialty Lubricants, Daikin Industries Ltd., and NYE Lubricants Inc. and FluoroTech USA among various others.
The global perfluoropolyether market is highly fragmented, with multiple tier 2 and tier 3 players. Key players provide perfluoropolyether under their trademarked names such as Fomblin® Series, HUSKEY® PF Series, Vertrel™ XF specialty fluid, Vertrel™ MCA Plus specialty fluid®, and DEMNUM®, among others.
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What was the Impact of COVID-19 Crisis on Global Market of Perfluoropolyether?
With the outbreak of SARS-COV-2 virus all over the globe in the initial quarter of 2020 has resulted in the decrease in the production of automotive, aircrafts and other. Reduce in the movement of the vehicles and aircrafts has impacted the sales of perfluoropolyether significantly in these application segments.
Further shutdown of the manufacturing industries due to social distancing and lockdowns has also impacted the consumption of the lubricants and oil all over the world. However, economic recovery from the second half of the year 2020 and opening of the manufacturing sectors had boosted the consumption resulting in the recovery of the demand.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.