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Perfluoropolyether Market Size By Product (PFPE-K, PFPE-M, PFPE-Z, PFPE-Y, PFPE-D), By Type (Oil, Grease), By End-Use (Automotive, Aerospace, Electronics, Chemicals & Petrochemical, Food Processing, Metal Processing, Medical Industry Equipment, Power Generation, Textile, Pulp and Paper), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI1625
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Overview

Perfluoropolyether Market size was valued at USD 630 million in 2022. Driven by the mounting demand for smart devices and equipment, the industry is anticipated to grow at over 5.5% CAGR from 2023 to 2032.
 

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Perfluoropolyether offers properties such as low toxicity, non-flammability, radiation stability, low volatility, and more, which has accelerated its demand in varied industries, especially in North America. In 2020, heart diseases accounted for around 64.3% of the top leading causes of death in the U.S. Subsequently, the soaring focus on strengthening the medical sector is expected to augment product uptake over the next 10 years.
 

Moreover, prominent government efforts to enhance the defense sector are poised to positively impact the perfluoropolyether industry outlook. The expanding commercial vehicle market around the world is also projected to foster product penetration.
 

Availability of advanced alternatives may restrain industry progression

The lack of R&D initiatives is hampering advancements in the field, restraining market growth. The inadequate research infrastructure to enhance the use of perfluoropolyether has enabled the development of new alternatives with comparatively reasonable prices. This has affected the product adoption rate, especially in emerging or low-income countries. Nevertheless, the rise in investments by manufacturers in R&D programs is set to provide significant growth opportunities for the market.
 

High-temperature resistance to push PFPE-K segment statistics

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Based on product, the perfluoropolyether market is categorized into PFPE-Y, PFPE-Z, PFPE-M, PFPE-K, and PFPE-D. The PFPE-K segment was valued at over USD 105 million in 2022 and is speculated to depict a 5.5% CAGR from 2023 to 2032. The segment growth is attributable to PFPE-K's use in varied applications such as gears, slides, and bearings. These products require high temperature and plastic & elastomer compatibility, which is anticipated to boost the demand for PFPE-K lubricants with a high-temperature resistance to maintain equipment life.
 

Rising use of perfluoropolyether oils in varied industries to define industry landscape

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With respect to type, the perfluoropolyether market is divided into oil and grease. As per the report, the oil segment is slated to reach a valuation of more than USD 275 million by 2032. PFPE oils can work at extremely high temperatures, unlike conventional oils. It maintains the efficiency of components and equipment used in multiple industries viz., metal processing, automotive, and aerospace sectors, which is slated to propel segment progress.
 

Mounting usage in anti-lock brakes to supplement automotive segment expansion

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In terms of end-use, the perfluoropolyether market is segregated into automotive, textile, electronics, aerospace, chemicals & petrochemical, food processing, metal processing, medical industry equipment, power generation, pulp & paper, and others. The perfluoropolyether industry share from the automotive segment is estimated to be worth over USD 80 million by 2032. PFPE aids in reducing wear and withstands aggressive chemical atmospheres, which is likely to bolster the utilization of PFPE for automotive sensors and anti-lock brakes in the automotive sector.
 

High investments in the aerospace sector to augment North America market statistics

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North America perfluoropolyether market exceeded USD 200 million in revenue in 2022 and is foreseen to register around 5.5% gains through 2032. The regional growth is backed by the temperature & weather resistance properties of PFPE that make it highly effective for lubrication purposes in the aerospace sector. Soaring investments in the aerospace sector by the U.S. and Canada are expected to further foster the need for PFPE-based greases & oils in the region.
 

Acquisitions & partnerships to favor the perfluoropolyether industry outlook

The Chemours Company, Daikin Industries, Inc., Solvay, M&I Materials Limited, LUBRILOG SAS, IKV Tribology, Fluorotech USA, Metalubgroup, Setral Chemie GmbH, and Jet lube, among others, are a few key perfluoropolyether market players. These companies majorly focus on product innovation and strategic partnerships and acquisitions to maintain their market standing.
 

Impact of COVID-19 on the perfluoropolyether market trends

The market witnessed a two-fold impact of the COVID-19 outbreak. Firstly, due to disruptions in business operations in the chemical, automotive, and aerospace industries, the uptake of PFPE-based lubricants and grease declined drastically. Secondly, the emergence of the coronavirus pandemic fueled product usage in the medical equipment industry. Furthermore, the growing demand for advanced and commercial vehicles is fostering product penetration in the automotive industry, which is set to support business growth in the post-pandemic scenario.
 

The perfluoropolyether market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons and revenue in USD million from 2018 to 2032 for the following segments:

By Product

  • PFPE-K
  • PFPE-M
  • PFPE-Z
  • PFPE-Y
  • PFPE-D

By Type

  • Oil
  • Grease

By End-Use

  •  Automotive
  •  Aerospace
  •  Electronics
  •  Chemicals & Petrochemical
  •  Food Processing
  •  Metal Processing
  •  Medical Industry Equipment
  •  Power Generation
  •  Textile
  •  Pulp and Paper
  •  Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Malaysia
    • Australia
  • Latin America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global Perfluoropolyether Industry was valued at USD 630 million in 2022 and is set to progress at over 5.5% CAGR over the next 10 years owing to expanding commercial vehicle market and the mounting demand for smart devices & equipment around the world.
Automotive end-use segment is estimated to be worth more than USD 80 million by the end of 2032 owing to PFPE’s ability to withstand aggressive chemical atmospheres, which is fueling its use in the automotive sector.
Oil segment is slated to surpass a valuation of USD 275 million by 2032 on account of the increasing efficiency of components and equipment used in multiple industries viz., metal processing, automotive, and aerospace sectors.
North America perfluoropolyether industry is foreseen to register 5.5% gains through 2032 due to mounting investments in the aerospace sector by the U.S. and Canada.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 295
  • Countries covered: 19
  • Pages: 301
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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