New York, Oct. 15, 2019 (GLOBE NEWSWIRE) -- The growing demand from end use industries, especially electronics & semiconductor and oil & gas industries, are contributing to the growth of the market.
The global engineered fluids (fluorinated fluids) market is forecast to reach USD 1.66 Billion by 2026, according to a new report by Reports and Data. Fluorinated chemicals are used during the manufacturing process of numerous products and industries, providing benefits such as improved strength, safety, resilience, and durability. These fluids are generally used in the electronics and semiconductor industry for wire and cable insulation for computer and cell phone circuits. They enable high-speed data transfer; high-reliability hoses for aircraft and cars to reduce emissions; and sterile equipment used in the manufacture of food products, pharmaceuticals, and chemicals.
Fluorinated fluids provide enhanced surface properties, such as oil, water, and stain resistance for medical, food packaging, apparel, and carpeting applications. Fluorinated surfactants are also used in firefighting foams for extinguishing aircraft & oilfield fires, and processing chemicals used in the manufacture of semiconductors.
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Further key findings from the report suggest
- Among the polymers, the polytetrafluoroethylene (PTFE) accounted for the largest market share of ~43% in the year 2018. The use of PTFE can have many benefits in manufacturing and engineering, in making tubes or liners, handling or storing corrosive chemicals, coating parts such as bearings or screws. They help to increase the lifetime of both the parts themselves and the machinery. A PTFE lubricants are resistant to corrosion, due to its ability to repel water and oil, to smoothly drive into the substrate, with reduced friction, resulting in less wear, and a longer-lasting, more secure finish.
- Among the product type, lubricants accounted for the largest market share of ~42% in the year 2018. Fluorinated lubricants offer stable performance over a long time with low oxidation degradation or evaporation. They can be used over a wide temperature range and are fire-resistant. They can also be used in environments exposed to chemical or solvent splashes and even for plastic and rubber lubrication.
- The heat transfer liquids are forecasted to witness the highest CAGR of 9.8% during the forecast period. Heat transfer fluids provide precise temperature control in a variety of applications. They safeguard system reliability and stability across all temperature ranges. Heat-stable fluids meet the operating needs of virtually any single- or multiple-station heat-using system. They are available in various formulations providing high-performance, superior product life and outstanding fluid maintenance.
- The Asia Pacific region held the largest market share of ~29% in the year 2018 and is anticipated to witness the highest CAGR of 9.6% during the forecast period. The Asia Pacific region will continue to be the largest market, owing to the massive consumption of fluoropolymers. The demand for fluoropolymers is driven by the expanding opportunities for high-performance materials in the chemical processing, motor vehicle, electronics, and coatings markets.
- Key participants include Asahi Glass, Interflon, F2 Chemicals Ltd, Halopolymer Kirovo-Chepetsk, Solvay, Condat Lubricants, The Chemours Company, Daikin Industries Limited, 3M, Honeywell International Inc., Halocarbon Products Corporation, Klüber Lubrication, Frontier Performance Lubricants, Inc., IKV Tribology, Lubrilog Lubrication Engineering, Nye lubricants, among others.
- The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
For this report, Reports and Data have segmented into the global Engineered Fluids (Fluorinated Fluids) market on the basis of polymer, product type, industry vertical, and region:
Polymer Outlook (Volume, Kilo Tons and Revenue, USD Billion; 2016-2026)
- Polytetrafluoroethylene (PTFE)
- Polyvinyl Fluoride (PVF)
- Polyvinylidene Fluoride (PVDF)
- Others
Product Type Outlook (Volume, Kilo Tons and Revenue, USD Billion; 2016-2026)
- Heat Transfer Liquids
- Lubricants
- Solvents
Industry Vertical Outlook (Volume, Kilo Tons and Revenue, USD Billion; 2016-2026)
- Electronics & Semiconductor
- Aerospace
- Chemical Processing
- Automotive
- Oil & Gas
- Others
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Regional Outlook (Volume, Kilo Tons and Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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