New Jersey, NJ, July 29, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Engineered fluids (Fluorinated Fluids) Market by Type (Lubricants, Solvents, Heat Transfer Fluids), End User Industry, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025". As per the report, the global engineered fluids (fluorinated fluids) market is expected to grow from USD 803.61 Million in 2017 to USD 1,591.39 Million by 2025, at a CAGR of 8.92% during the forecast period from 2018-2025. Increasing demand for the engineered fluids (fluorinated fluids)from the end user industries such as electronics & semiconductor, automotive, chemical processing, oil & gas, power generation, and aerospace are driving the global engineered fluids (fluorinated fluids) market.
Market Outlook of the Engineered Fluids (Fluorinated Fluids)
- Engineered fluids (fluorinated fluids) are multipurpose materials that are utilized for the purposes of thermal management applications. The engineered fluids (fluorinated fluids) exhibit characteristic properties like chemical stability, non-toxicity, non-flammability, high and low-temperature use, and excellent compatibility with a wide range of plastics, metals, and elastomers. Thus engineered fluids (fluorinated fluids) are able to perform under extreme conditions such as high pressure, oxidation-prone environment, and high temperatures. They are widely used in various end user Industries such as electronics & semiconductor, automotive, chemical processing, oil & gas, power generation, and aerospace, in order to reduce friction between machine parts.
- Even though the factors such as superior and environmentally friendly properties of engineered fluids (fluorinated fluids) as well as rapid growth of the end user industries are driving the global engineered fluids (fluorinated fluids) market. The high-cost production of the engineered fluids (fluorinated fluids) is expected to restrain the market growth. Nevertheless, increasing replacement of petroleum-based lubricants with fluorinated lubricants, growing demand for heat exchangers, and rising investment on the research and development activities are expected to create new market expansion opportunities over the forecast period.
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Type Segment Analysis of the Engineered Fluids (Fluorinated Fluids) Market
- Lubricants
- Solvents
- Heat Transfer Fluids
Due to their superior non-flammable, chemically inert, non-reactive properties and wide temperature performance range of –130°F to 572°F, engineered fluids (fluorinated fluids) are being increasingly preferred over the petroleum-based lubricants. Thus the lubricants segment led the global demand for the engineered fluids (fluorinated fluids) with USD 384.29 million revenue in 2017 due to the increasing use of engineered fluids (fluorinated fluids) in applications ranging from aerospace and the military to chemical manufacturing and energy production. The engineered fluids (fluorinated fluids) have low global warming potential (GWP) and do not produce an adverse impact on the environment. In addition, their thermal stability, resistance to oxidation, and lack of compressibility has further boosted the global engineered fluids (fluorinated fluids) market growth.
End user industry Segment Analysis of the Engineered Fluids (Fluorinated Fluids) Market
- Aerospace
- Automotive
- Electronics & Semiconductor
- Oil & Gas
- Chemical Processing
- Others
The engineered fluids (fluorinated fluids) are being increasingly utilized in the electronics & semiconductor industry for the purposes of electronics cooling, heating, testing, chamber cleaning, connectors, process chamber, and wafer handling. Thus the electronics & semiconductor end user industry segment is projected to grow at an accelerated CAGR of 11.02% over the forecast period. Thus the growth of the cutting edge technology sectors such as the Internet of things (IoT) and artificial intelligence (AI) are projected to drive the global demand for the engineered fluids (fluorinated fluids).
Region Segment Analysis of the Engineered Fluids (Fluorinated Fluids) Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region emerged as the largest market for the engineered fluids (fluorinated fluids) with a 40.78% share of market revenue in 2017. The rapid pace of the industrialization, rising demand for the automobiles, and growth of the oil & gas as well as chemical processing and aerospace sectors were the factors that led the Asia Pacific region to dominate the global demand for the engineered fluids (fluorinated fluids) in 2017. The North America region is anticipated to grow at a steady pace over the forecast period, owing to its well-established automobiles, aerospace, and oil & gas industry.
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Competitive landscape and key vendors
- Major players in the global engineered fluids (fluorinated fluids) market are Daikin Industries, Solvay SA, The Chemours Company, The 3M Company, Asahi Glass Company, Halocarbon Products Corporation, Halopolymer, F2 Chemicals, IKV Tribology, Lubrilog Lubrication Engineering, Nye lubricants, Interflon, Paratherm, Acota, TMC industries, and among others.
- The Solvay SA in 2017, announced its acquisition of the Energain Technology, thereby, expanding its product portfolio catering to the battery production industry. This acquisition will propel the Solvay’s competence in the battery production industry. Which will, in turn, help the company cater to the electronics & semiconductor industry and work on several new upcoming technologies in the industry. The Solvay AG has formidable engineered fluids (fluorinated fluids) product range in the form of Fomblin and Galden fluids. These fluids are wide-ranging used in the electrical & electronics and semiconductor industries.
- For instance, in 2018, Asahi Glass announced the global sales launch of AMOLEA AS-300, a new type of environmentally-friendly fluorinated solvent. This product reduces Ozone Depletion Potential to almost "0" and Global Warming Potentia to under "1" while still delivering comparable boiling point, solvency, and safety levels to AK-225. With minimal impact on the global environment combined with superior solvency, AMOLEA™ AS-300 is also ideal for a customer’s moving away from chlorinated solvents, and npropyl bromide solvents.
About the report:
The global engineered fluids (fluorinated fluids) market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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