The market for engineered fluids (fluorinated fluids) is projected to grow from USD 854 million in 2018 to USD 1,304 million by 2023, at a CAGR of 8.8% during the forecast period. Engineered fluids (fluorinated fluids) are versatile materials that are used for thermal management application. Some of the exceptional properties of these fluids include chemical stability, non-toxicity, non-flammability, high and low-temperature use, and excellent compatibility with a wide range of plastics, metals, and elastomers. Engineered fluids (fluorinated fluids) are used in various end-use Industries such as electronics & semiconductor, automotive, chemical processing, oil & gas, power generation, and aerospace, to reduce friction between machine parts.
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Lubricants is projected to be the largest segment of the engineered fluids (fluorinated fluids) market during the forecast period.
Fluorinated lubricants are fluorocarbon ether polymers of polyhexafluoropropylene oxide. Fluorinated lubricants are also known as perfluoropolyether. Fluorinated oils, greases, and wax are covered under this segment. They are non-flammable, chemically inert, non-reactive, and evaporate very slowly. Fluorinated lubricants possess superior properties as compared to petroleum-based lubricants. These fluids are designed to perform effectively between –130°F and 572°F whereas petroleum-based lubricants fail to perform –0.4°F and above 212°F. Such properties are driving the fluorinated lubricants market.
APAC is estimated to be the largest market during the forecast period.
APAC is estimated to lead the overall engineered fluids (fluorinated fluids) market during the forecast period. The region has emerged as the largest consumer of engineered fluids (fluorinated fluids), owing to the growth in demand for engineered fluids (fluorinated fluids) in countries such as China, Japan, India, South Korea, and Indonesia. The growing industrialization in these countries and low manufacturing cost have encouraged global companies to establish their presence in the countries of APAC. These factors are expected to drive the market for engineered fluids (fluorinated fluids) in the region during the forecast period.
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Key Market Players
The leading players in the engineered fluids (fluorinated fluids) market are Daikin Industries (Japan), Solvay SA (Belgium), The Chemours Company (US), 3M (US), Asahi Glass Company (Japan), Halocarbon Products Corporation (US), Halopolymer (Russia), F2 Chemicals (UK), IKV Tribology (UK), Lubrilog Lubrication Engineering (France), Nye lubricants (US), and Interflon (Netherlands).
