Perfluoropolyether market size
The perfluoropolyether market outlook is primarily driven by its intense utilization in high performance lubricants which play a key role in maintaining machines and equipment efficiency. These lubricants reduce the wear and tear of mechanical equipment and offer exceptional stability when the machines are under operation.
Perfluoropolyether (PPFE) lubricant products ensure long term lubrication even under constant exposure to high temperatures which expands their application potential in manufacturing high temperature grease and oils. They are generally used for lubricating bearings, slides, bushes and heavy duty machines in order to enhance their functionality and extend component lifecycle. The growing prominence of heavy machinery across several industry verticals will create favorable circumstances for Perfluoropolyether market growth.
Electrical & electronics segment is anticipated to remain one of the key application avenues in the perfluoropolyether market during the forecast period. The electrical & electronics sector is majorly driven by the increasing adoption of home appliances and other consumer electronics, which will in turn foster utilization of thermally and chemically stable lubricants.
Hi-tech equipment consisting vacuum chambers include several components such as robotic arms, linear slides and platforms which require low volatility PFPE lubricants to seal pressure and eliminate the chances of outgassing, thus elongating the component life. Moreover, the product proves to be a boon for semiconductor equipment by offering them an extended lifecycle.
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PFPE lubricants exhibit good electrical and thermal insulation properties owing to which they find strong demand for lubricating vacuum pumps, water pumps and mechanical components such as bearings, chains, gearboxes used in numerous electrical appliances. Rising urbanization trends along with changing consumer lifestyle will encourage adoption of home appliances, driving the perfluoropolyether market share.
Europe is likely to emerge as a lucrative market for perfluoropolyether lubricants from 2019 to the end of 2025. The growth can be attributed to the proliferation of the automotive industry. PFPE oils and greases are indispensably used by the automobile manufacturers to ensure smooth drive and minimized rattles and squeaks in the vehicles.
In addition, the product offers high dielectric coefficient and good thermal conductivity which helps the battery sustain extreme temperatures from sitting nearer to an engine. Increasing shift toward hybrid and all electric vehicles pertaining to the deteriorating air quality and depleting fossil fuel reserves may foster the need of advanced lubricants, thus accelerating perfluoropolyether market demand.
European Union car manufacturers are anticipated to launch more than 214 electric car models by 2021 which should propel the industry growth. As per reliable reports, Europe perfluoropolyether lubricant market secured a revenue share of over USD 95 million in 2018 and is further expected to continue traversing alongside a positive growth graph through 2025.
PFPE lubricants are also deployed across the power generation sector as it helps improving the turbine efficiency by lubricating several components involved in the process, owing to their temperature resistant properties. Gas turbines are increasingly implemented for power generation pertaining to stringent regulations to curb carbon releases from the coal fired power plants, further supporting PFPE usage in power generation sector.
Manufacturers involved in the PFPE market are looking to expand their product portfolio for fulfilling the diversifying lubrication needs. Some of the major players working in perfluoropolyether market include Daikin Industries, Nye Lubricants, The Chemours Company, LUBRILOG SAS, HUSK-ITT Corporation, Jet lube, Miller-Stephenson, Inc. and Fluorotech USA. According to new research report by Global Market Insights, Inc., Perfluoropolyether Market size is presumed to exceed USD 480 million by 2025.
Author Name : Amol Kothekar