Global Perfluoropolyether Market size worth above USD 895 million by 2027
Published Date: February 26, 2021 Authors: Kunal Ahuja, Sonal Singh
According to a new research report by Global Market Insights, Inc., the Perfluoropolyether Market size is set to surpass USD 895 million by 2027. PFPE base oil in combination with non-soap thickeners is used to produce grease pertaining to its application in aircraft parts which is likely to drive the business growth.
Perfluoropolyether is a non-flammable and non-reactive fluorinated synthetic oil. It is a liquid lubricant which is widely used in aerospace industry. The property of PFPE is being temperature resistant which are well-suited for its application in controlling the heat of heavy machines. The product is non-toxic under normal temperatures and used in aggressive work environments due to its inherent inertness which should boost the growth of perfluoropolyether market.
High flexibility and better performance of PFPE Z & PFPE Y should augment the business growth
Global perfluoropolyether market witnessed a consumption of over 2,625 tons in 2020, which is likely to exhibit substantial gains up to 2027. PFPE Z type of product offers high flexibility and high temperature excursion when operated in heavy work environment owing to its application in aerospace industry. The product offers low vapor pressure and low four point that provides free flowing fluids which has wide scope in aerospace operations. Rising consumer expense on air transport is increasing demand for commercial airplanes which should positively impact the perfluoropolyether demand from aerospace application industry.
PFPE Y type of lubricants offers high stability and high dielectric properties which are widely used for vacuum pump applications. The product witnessed increased demand pertaining to its less harmful effect on environment as compared to crude oil for its application as lubricant. PFPE Y is widely used in gears and slides pertaining to its effective lubrication properties. The metal part of the pump is exposed to air and moisture which leads to corrosion. Application of synthetic lubricants reduces and prevents corrosion of metals which represents growth opportunities for perfluoropolyether market.
“As per industry forecast, PFPE market size by grease should register over 7% gains by 2027, pertaining to rising demand for the product from automotive industry”
Browse key industry insights spread across 250 pages with 230 market data tables and 45 figures & charts from the report, 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 Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increased demand for lubricants from automotive industry should stimulate the growth of perfluoropolyether market
PFPE demand from automotive application segment should exceed USD 65 million up to 2027. The product has wide application scope in automotive industry for its application in O-ring lubrication, cooling system thermostat, battery vent scale and spark plug boots. PFPE maintains high temperature efficacy and low temperature even at high workload, which should augment PFPE market growth.
Increasing investments in road infrastructure and rising demand for passenger vehicles should drive automotive industry growth thereby boosting PFPE market. In 2020, the global PFPE market revenue from automotive industry market was estimated to be over USD 40 million which shows opportunity for the PFPE market to grow in coming years.
Demand for passenger and public transport vehicles is rising pertaining to mobility for long distance travel for work and availing daily need facilities. Rising disposable income has led consumers purchase luxury cars which is boosting the automotive industry growth thereby driving perfluoropolyether demand.
“As per industry forecasts, PFPE market from pulp & paper industry applications should register gains over 2% by 2027, pertaining to its ability to control heat in rotating parts of paper manufacturing machines”
Growing pharmaceutical and medical sector should drive PFPE demand in North America
North America perfluoropolyether market should exceed USD 280 million up to 2027 and is predicted to witness substantial growth in the forecasted period. PFPE is widely used in medical industry equipment for its utility to minimize friction, extended performance life and increased screw efficiency of the equipment. The lubricants offer superior wear resistance, ability to control high temperatures and resistance to chemicals. The rising number of lifestyle disorders including diabetes and heart problems should raise the medical and pharmaceutical market thereby driving the PFPE market growth.
Rising pharmaceutical and medical sector should stimulate the demand for perfluoropolyether market growth. Fast changing life along with increasing stress in day to day life has increased the number of individuals with diseases such as blood pressure and obesity which has increased the use of healthcare equipment and increased demand for medicines. This has further led to increase in use of machines in pharmaceutical industry for medicine production. Aging population along with increase in number of chronic diseases should boost PFPE market growth.
“As per market estimates, Asia Pacific should register over 7% gains by 2027, pertaining to rising automotive industry which has wide application of the product in vehicle engines”
The global perfluoropolyether industry is fragmented and comprises of companies including Nye Lubricants, Lubrilog SAS, Solvay, Daikin Industries Inc., IKV Tribology, Kluber Lubrication, Metalubgroup, The Chemours company and M&I Materials Limited. Companies are majorly focusing on strategic agreements such as acquisitions, mergers and partnerships to expand their production volume and widen their geographic distribution network.
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