According to the latest research report by Global Market Insights Inc., perfluoropolyether market size is anticipated to surpass US$ 895 million by 2027.
Perfluoropolyether market size is poised for stellar growth in the wake of sustained demand stemming from aerospace sector. Notably, strong demand for perfluoropolyether comes on the heels of efficient utilization of the machine parts, along with the adoption of premium lubricants.
A substantial uptick in the usage of the product in the electronics, chemical, and power generation sectors is being witnessed in recent years given that long lasting lubrication of the product has kept the need for lubricating the machine parts in regular intervals at bay. Prominently, perfluoropolyether market share is expected to receive impetus from its performance in high temperature application.
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Perfluoropolyether products are anticipated to be highly sought-after in electronics industry given they boost the life of devices. Moreover, high performance of the product in hostile environment has led to lower cost of ownership. Besides, the ability to resist high temperature and the thermal stability have made the product a growth avenue in semiconductor and sensitive electronics manufacturing.
Strong demand for PFPE-Z is expected to be witnessed in the next five-years as they do not react with metals, plastics, and rubber, thereby making them a highly popular segment for industrial applications. It is worth noting that PFPE-Z products possess potent insulating properties that are required in mining & power generation industries. In addition, rigorous safety regulations and timely inspection of machine parts have furthered the incorporation of these products in perfluoropolyether industry.
Perfluoropolyether market size is anticipated to get further impetus from food processing industries as food manufacturers compete to adopt automation, thereby fueling demand for automatic lubrication systems. Food manufacturers are increasingly using perfluoropolyether lubricants in food processing machinery to boost factory operation and bolster output.
Prevalence of PFPE globally has derailed the growth of low-cost synthetic lubricants as the inability of these lubricants to function well in industries with different temperatures and relentless wear and tear of the machine parts have boosted demand for PFPE products. Accordingly, PFPE products have become a go-to product for various complex and high temperature operations.
APAC perfluoropolyether market share is projected to gain momentum on the back of demand for PFPE product emanating from the chemical industry in India and China. When applied in testing equipment and thermal exchanger, PFPE products lead to strong performance. Further, penetration of multinational chemical manufacturers to keep up with the perpetually growing demand has led to the development of high performance, highly sophisticated products such as perfluoropolyether in the region.
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Some of the prominent companies profiled in the perfluoropolyether market report are expected to emphasize distribution agreements and capacity expansions. Leading companies are also touted to invest in R&D activities to formulate the products in various applications. Moreover, a few of the companies may look for mergers & acquisitions to expand their product portfolios.
Leading industry players delineated in the report are the Daikin Industries, Inc., Chemours, Solvay, Nye Lubricants and Kluber Lubrication, among others.
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