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Global Perfluoropolyether market size to be worth over USD 905 million by 2028

  • Published Date: June 26, 2022

According to a new research report by Global Market Insights Inc., the Perfluoropolyether Market size is anticipated to surpass USD 905 Million by 2028 owing to the rising number of consumers preferring air travel due to its safety, economic feasibility, and time-saving benefits is likely to accelerate the aerospace market.
 

Increasing research & development facilities and growing technological advancements have enabled the incorporation of sensor technologies and artificial intelligence in airplanes & defense aircraft, further boosting the popularity of air travel.
 

The increasing focus of manufacturers to improve the operational efficiency of aircraft has enabled the use of high-performance lubricants to reduce friction. Thus, creating huge opportunities for product demand from the industry and concurrently fuel the market demand for perfluoropolyether market.
 

Furthermore, the ability of perfluoropolyether product like PFPE-M and PFPE-Z to maintain their lubricity at temperatures as low as -75°C and -90°C, respectively, are likely to raise their demand in specialty applications. Low-temperature cryogenic applications such as very small, delicate precision instruments which includes sensors, potentiometers, actuators and bearings, are also witnessing potential growth in terms of perfluoropolyether usage, thus anticipated to propel in the forecast period.
 

Booming demand for thermally stable lubricants should uplift market from PFPE-M product type

Perfluoropolyether market from PFPE-M is projected to grow with a CAGR over 6.5% by the end of 2028.The rising demand for non-toxic, non-flammable, corrosion-resistant lubricants from aerospace, automotive, and chemical industries is likely to have a positive impact on the product demand, thus creating lucrative growth opportunity for the market.
 

PFPE-M has good low temperatures properties, lower evaporation loss, and lesser surface tension; hence, it is an excellent lubricant for powder metal bearing. It contains flexible molecules that helps in maintaining fluid at a much lower temperature in comparison to other lubricants, which is the key driving factor of the market.
 

Moreover, these synthetic fluids offer exceptional stability and ensure long-term lubrication characteristics when used at constant high temperature, making them suitable for bearings, slides, bushes and heavy duty, high temperature grease applications, thereby showing favorable circumstances for perfluoropolyether market growth.
 

Rapidly booming synthetic lubricants should boom market from grease type segment

Perfluoropolyether market from automotive application was value USD 435 million and projected to grow with a CAGR of 6.5% by the end of 2028. Increasing consumer awareness towards the benefits of synthetic lubricants along with significant growth in automotive sales is expected to boost the grease industry market size. Grease based products reduces friction and promotes the smooth functioning of mechanical parts owing to their high viscosity index, thermal stability, and resistivity to oxidation.
 

PFPE grease helps in reducing wear & tear of parts that rub against each other and thereby protect the engine from corrosion, which are the key attributes augmenting the product demand. The rising labor cost labor, strict safety requirements, and increasing competition are driving the demand for automation. This high growth in the industrial sector along with a rise in automation in various industries is driving the lubricants market growth and concurrently fuels perfluoropolyether market.
 

Growing investment in automotive design and safety has spurred the market demand for automotive application

Global perfluoropolyether market size from automotive application surpassed over USD 45 million in 2021. Growing GDP, rising population, and rise in disposable income have enabled consumers to purchase luxury cars, substantially increasing the demand of automotive. Increasing distance between work and leisure facilities, which enhanced the production of passenger vehicles and public transport vehicles. Due to technological advancements, automobiles nowadays are getting more efficient and powerful, propelling the product demand.
 

Growing transportation & logistics activities, increasing investments in road infrastructure, and rising R&D spending are further expected to boost the product demand from the industry. As a result of the Russia-Ukraine war, oil prices have increased drastically, and these countries also produce neon gas, rhodium, and cadmium, which are used in semiconductor manufacturing. Due to the current high oil prices and semiconductor shortages, the automobile industry is being impacted, hampering industry growth during the forecast period.
 

Browse key industry insights spread across 303 pages with 234 market data tables and 62 figures & charts from the report, Perfluoropolyether Market 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),  in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/perfluoropolyether-market
 

Asia Pacific market is gaining traction owing to booming electronic industry

Asia Pacific perfluoropolyether market was valued USD 155 million in 2021 and projected to gain traction with a CAGR of 6.5% by the end of 2028. Growing consumer electronics demand globally owing to the rising disposable incomes will boost electronics manufacturing in South Korea and China. Thus, the perfluoropolyether market is expected to grow in forthcoming year. As, PFPE is used in the electronics sector for several applications including wet and dry vacuum pumps, vacuum system sealants, robotics, owing to good electrical resistance and extremely wide operating temperature range.
 

Increasing urbanization and changing consumer lifestyle promoted the use of hi-tech electronic devices & equipment, showing favorable circumstances for perfluoropolyether market growth. The product owing to good electrical and thermal resistance properties is used to offer lubricity for valves, bearings, chains, gearboxes, switch gears, and vacuum pumps. As PFPE serves as a cooling substance, it is widely used in semiconductors.
 

Increasing technological advancements, has raised the demand for smart gadgets this factor is driving electronics industry. Significant electronic industry growth from developing countries, including China, India, and other ASEAN countries, is further expected to boost the product demand in the region.
 

Manufactures in the perfluoropolyether industry are participating in several activities, such as research & development mergers, acquisitions, and collaborations, as the product has a wide range of applications in the market including power energy, food processing, metal processing and others. Some of the key players operating in the market are Klüber Lubrication, Solvay, Daikin Industries, Inc., Nye Lubricants and others.
 

Authors: Kunal Ahuja, Sarita Bayas

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