Newark, NJ, Oct. 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global perfluoropolyether market is expected to grow from USD 610 million in 2020 and reach USD 987.02 million by 2028, growing at a CAGR of 6.2% during the forecast period 2021-2028.
The perfluoropolyether market is witnessing significant growth in the past years. This expansion is attributed to highly stable C-O and C-F bonds in perfluoropolyether (PFPE). It is inert against chemical and oxidizing pressures, making it a perfect match for environments where intense chemical exposure and high-temperature instability are present, particularly in the aerospace sector. The high viscosity of perfluoropolyether, around 144, gives flexibility in applications that need a superior vacuum, such as mass spectrometers, ion implantation, and particle accelerators. Furthermore, due to its high susceptibility to highly oxidative and reactive chemicals, perfluoropolyether is utilized in vacuum pumps to treat gases such as ozone and nitric oxides without affecting the parent fluid. Perfluoropolyether is cross-linked with elastomers during dye diffusion tests to reduce swelling-induced leakage because most juices are impervious to the perfluoropolyether chain. Perfluoropolyether -based elastomers exhibit significantly lower swelling ratios in microfluidic studies than traditional polydimethylsiloxane (PDMS), effectively displacing PDMS as a material alternative.
Perfluoropolyether is a non-reactive, non-flammable fluorinated synthetic oil in which every carbon atom has been replaced by fluorine. Perfluoropolyether (PFPE) are synthetic polymers that are liquid at ambient temperature. Because of its flexibility, low glass transition temperature, and wide range of typical liquid weather, the primary chain of perfluoropolyether is comprised of - CF2 - O - CF2 - such ether chain, which differs from the perfluoroethylene chain of - cf2cf2cf2 - (from freezing point to boiling point). However, because of the fluorine element's strong electron absorption impact, the polymer lacks ether properties, resulting in good heat resistance, chemical stability, oxidation stability, and total incombustibility.
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The global perfluoropolyether market is expected to witness significant growth, owing to an increase in the automotive sector, incorporation of high-quality lubricants, the long-lasting feature of perfluoropolyether, rising commercial aerospace production, and the requirement for efficient aircraft design, increase in government regulations for the carbon footprint, the low cost and high strength of perfluoropolyether, increase in demand for smart wearables, smartphones, and other handheld technology will promote perfluoropolyether usage in the consumer electronics sector. Additionally, technical advancements in the electronics industry will also drive the global perfluoropolyether market. On the other hand, the factors restraining the global perfluoropolyether market are a lack of literature and R&D, a declining need for CD drives, and the release of fumes from perfluoropolyether fluid when exposed to high temperatures. In addition, the increase in the manufacture of fuel-efficient and lightweight carriers will provide good market growth opportunities.
Some of the key players operating in the Global Perfluoropolyether market are Daikin, Dow Corning, Kluber Lubrication, DuPont, Chemours Company, Solvay Solexis, ICAN, M&I Materials Limited, and Halocarbon Product Corporation. Chemours Company is a significant producer of fluoro products. It has entered the Perfluoropolyether industry with its product KrytoxTM, a high-performance synthetic lubricant that is non-flammable, chemically inert, and capable of maintaining viscosity at high temperatures. To achieve a significant market share in the global perfluoropolyether market, the key players now focus on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Idexx Laboratories Inc. and Nestle S.A are some of the key manufacturers operating in the perfluoropolyether market.
- Solvay will partner with vertical aerospace to produce composites for passenger air taxis in February 2021. Vertical Aerospace is a British aerospace firm based in Bristol, England. These companies will also work together to build lightweight and advanced material portfolios, which will help the perfluoropolyether market grow.
PFPE-Y segment dominated the market and held the largest market share of 26.2% in the year 2020
Based on product, the global perfluoropolyether market is segmented into PFPE-K, PFPE-M, PFPE-Z, PFPE-Y, PFPE-D. PFPE-Y segment dominated the market and held the largest market share of 26.2% in the year 2020. This growth is attributed to perfluoropolyether oil being added to dry and oily skin and which has low vapor pressure and is chemically inert, non-reactive, and non-flammable, with anti-seizing qualities. Therefore, they are employed as lubricants in bearings, devices with moving parts, oxygen systems, and valves in various machinery.
The aerospace segment dominated the market and held the largest market share of 18.15% in the year 2020
Based on End- User, the global perfluoropolyether market is segmented into Automotive, Aerospace, Chemical & Petrochemical, Food Processing, Metal Processing, Medical Industry Equipment, Power Generation, Pulp & Paper. The aerospace segment dominated the market and held the largest market share of 18.15% in the year 2020. This growth is attributed to its features being instrument bearing grease, joint bearing grease in aviation fuel systems, and astronaut spacesuit bearings are all examples of fat. Furthermore, it is widely used for coating the surfaces of tiles, stones, ceramics, and glass to impart qualities such as oil and water repellency and minimal adhesion and friction.
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Regional Segment of Perfluoropolyether Market
- Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe)
- North America (U.S., Canada, Mexico)
- Asia-Pacific (Japan, China, India, and the Rest of Asia Pacific)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (South Africa, UAE, Rest of the Middle East & Africa)
Based on geography, the global perfluoropolyether market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In terms of regions, Asia-Pacific is estimated to be the leading region in the market. The growth is attributed to the increasing number of low-cost airlines in the area during the forecast period of 2021- 2028. In addition, factors such as the expansion of the aerospace industry, which generates demand for lubricants, and the continuous development of the manufacturing, automobile, and other industrial sectors, which leads to high need for cars, power tools, and industrial equipment, are expected to fuel the regional market's growth in the coming years. North America, as well as Europe, are also projected to provide significant growth opportunities.
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About the report:
The global perfluoropolyether market is analyzed based on value (USD million). All the segments have been examined on a worldwide, regional, and country basis. The study consists of the analysis of more than 30 countries for each part. The report offers a thorough analysis of driving factors, opportunities, restraints, and challenges for gaining analytical insights into the market. In addition, the study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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