Home > Pressrelease > Perfluoropolyether Market size to exceed $1.1 Bn by 2032

Perfluoropolyether Market size to exceed $1.1 Bn by 2032

  • Published Date: November 22, 2022

Perfluoropolyether Market size is estimated to surpass USD 1.1 billion in revenue by 2032, as per a recent research report announced by Global Market Insights Inc.

Booming healthcare sector and surging demand for smart electronics as the chief drivers of the perfluoropolyether industry. Furthermore, significant growth in the aerospace & defense industry is projected to spur perfluoropolyether industry revenues.

Widespread use in space applications to define the PFPE-Z industry outlook

With respect to the product, the study classifies the perfluoropolyether market into PFPE-M, PFPE-Y, PFPE-K, PFPE-Z, and PFPE-D. The perfluoropolyether industry size from the PFPE-Z segment is primed to progress at over 5% CAGR between 2023 and 2032. PFPE-Z can endure extreme temperatures and work effectively for small & delicate precision instruments, bearings, and sensors, which is accelerating its uptake in varied industries. Additionally, the potential uptake of PFPE-Z in space applications is fueling product adoption in the aerospace industry.

Effective corrosion resistance to promote grease utilization

Heavy demand for perfluoropolyether grease, especially across the automotive industry. The perfluoropolyether market share from the grease segment is foreseen to be worth more than USD 825 million by 2032. The segment growth is attributable primarily to the ability of PFPE to prevent wear and tear of parts and thus, protect the engine against corrosion due to friction. Escalating PFPE consumption by industrial and automotive manufacturers is poised to stimulate segment progress.

High expenditure on space exploration to augment product demand in aerospace end-uses

Product penetration in the aerospace industry is likely to remain high through the review period. Aerospace end-use segment was valued at over USD 255 million in 2022 and is anticipated to record more than 5.5% gains from 2023 to 2032 backed by increased spending on space exploration programs. Due to its favorable properties, including its low out-gassing features, the product finds wide-ranging usage in space suits. PFPE also prevents contamination of optics in the high vacuum of space, which is set to promote product adoption.

Browse key industry insights spread across 301 pages with 234 market data tables and 61 figures & charts from the report “Perfluoropolyether Market Statistics By Product (PFPE-K, PFPE-M, PFPE-Z, PFPE-Y, PFPE-D), By Type (Oil, Grease), 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”, in detail along with the table of contents:

Booming consumer electronics sector to benefit Asia Pacific perfluoropolyether industry expansion

Asia Pacific perfluoropolyether market is forecast to progress at over 6% CAGR between 2023 and 2032. The region may emerge as a major hub for this industry owing to the increasing disposable incomes and surging consumer electronics demand, which is likely to boost electronics manufacturing in South Korea and China. The proliferating automotive space, especially in India and China, is also set to accelerate product consumption in the APAC region.

Collaborative initiatives to remain a major growth strategy

Competitive landscape of the PFPE industry is expected to witness a series of collaborations and partnerships among industry players and suppliers to strengthen their market standing. For instance, in January 2022, Solvay, a multinational chemical company, announced that lubricants supplier FenS would become a distribution associate for its PFPE range of lubricants, Fomblin, in Europe. This move was intended to help the company to widen its distribution network and regional presence in Europe. Some key firms engaged in the perfluoropolyether market include The Chemours Company, Solvay, Daikin Industries, Inc., LUBRILOG SAS, and others.

Authors: Sumant Ugalmugle, Rupali Swain

Explore More on Related Topics: