December 27, 2019
According to the research report titled ‘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 – 2025’, available at MarketStudyReport.com, the global perfluoropolyether (PFPE) market is projected to cross USD 350 million by the year 2025.
Growing demand for perfluoropolyether products in aerospace sector is the major factor driving the market growth. PFPE lubricants can function in high temperatures and offer multifunctional, high efficiency, and lightweight properties. Moreover, it offers long lasting lubrication properties which minimizes the need for lubricating the equipment at regular intervals. Thus, rising adoption of PFPE lubricants in power generation, electronics, and chemical industries is aiding the expansion of perfluoropolyether market. Although used in low quantities, PFPE offer high effectiveness during operations. Hence, strict government policies in using lubricants and greases will stimulate the PFPE industry outlook.
As per product type, PFPE-Z market is projected to grow significantly during the estimated timeframe. PFPE-Z is flammable with strong oxidants but does not react with rubber, metals, and plastic. These products also have high insulating properties which can be useful in power generation and mining industries. Strict safety policies and routine inspectiondirectives have led to rising adoption of PFPE-Z products in various applications.
Based on application spectrum, aerospace segment will register substantial growth owing to escalating utilization of PFPE products in the industry. The product reduces the cost during space operations and eliminates the need for using heavier lubricants.
On the other hand, PFPE market from food processing application segment will grow substantially on account of growing inclination towards automated food processing systems to maintain food safety during manufacturing processes. PFPE lubricants are used in food processing equipment for efficient output and smooth operations. However, the demand for PFPE in petrochemical, chemical, and food processing industries has decreased due to rising adoption of other synthetic lubricants. Although these synthetic lubricants are available at low-cost, they do not offer similar properties as PFPE.
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Meanwhile, perfluoropolyether products are gaining momentum in the electronics sector owing to its long-lasting characteristics which in turn extend the life of the devices. Additionally, PFPE provides thermal stability and resistance to high temperature which is ideal for semiconductor and electronics manufacturing.
Considering geographical landscape, Asia-Pacific perfluoropolyether market is expected to expand considerably over the forecast period, due to robust development of chemical industries across the region.
The prominent companies operating in perfluoropolyether market are Daikin Industries, Inc., Nye Lubricants, Klüber Lubrication, The Chemours Company, and Solvay among others.
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