The global perfluoropolyether market demand is poised for significant growth, projected to reach approximately USD 758.8 million by the close of 2022 and demonstrating a robust Compound Annual Growth Rate (CAGR) of 4.3% throughout the forecast period spanning 2022 to 2029. This surge is primarily attributed to the escalating demand for perfluoropolyether, particularly in the automotive, chemical, and aerospace sectors, where it serves as a crucial lubricant for applications such as wheel bearings, vacuum pumps, and high-temperature procedures.
According to estimates by FMI, global perfluoropolyether sales are anticipated to soar to USD 1,018.2 million by the culmination of 2029, underscoring the expanding significance of this versatile compound in various industrial applications.
Sensing an increase in new aircraft deployment, especially in developing countries in Asia Pacific, manufacturers are tapping into newer opportunities in the region. Increasing demand for highly efficient lubricants in chemical and automotive industries is further likely to work to the advantage of perfluoropolyether market players.
Europe and North America Lead Gains, South Asia to Offer Greater Opportunities
Although the regions such a Europe and North America are anticipated to hold significant market shares, the South Asia market is expected to project a steady growth in the global perfluoropolyether market over the forecast period of 2022-2029.
Moreover, macroeconomic factors such as increment in GDP, air transportation as well as production, expanding chemical industry and significant growth of the manufacturing sector, are expected to reflect significant increase in opportunities for perfluoropolyether market players in South Asia.
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Perfluoropolyether Used Extensively in Aerospace and Automotive Applications
The perfluoropolyether market is categorized into four different segments such as form, application of perfluoropolyether, products, and regions.
- By form, the PFPE Oil is expected to hold a higher value as well as volume share against PFPE grease.
- By product, the linear perfluoropolyether is projected to attain a significant value shares in the perfluoropolyether market. Linear perfluoropolyethers are widely used as lubricants for the superior chemical properties and multiple applications.
- In terms of application, aerospace and automotive sectors will continue to account for relatively high market share. Increasing preference towards non-toxic lubricants from the end users is expected to drive the market. Increasing automotive production is expected to increase the demand for PFPE lubricants. PFPE is also used in other applications such as chemical and electronics, and is recently being used for textile as well as leather applications.
Perfluoropolyether Market: Players Insights
The perfluoropolyether market report focuses on a number of stakeholders, some of these players have come out as the market leaders. Few examples of such manufacturers in the perfluoropolyether market are as follows; The Chemours Company FC, LLC, Klüber Lubrication München SE & Co. KG, Solvay S.A., TOTAL S.A., M&I Materials Ltd, HUSKEY Specialty Lubricants, Daikin Industries Ltd., and NYE Lubricants Inc. and FluoroTech USA among various others.
The global perfluoropolyether market is highly fragmented, with multiple tier 2 and tier 3 players. Key players provide perfluoropolyether under their trademarked names such as Fomblin® Series, HUSKEY® PF Series, Vertrel™ XF specialty fluid, Vertrel™ MCA Plus specialty fluid®, and DEMNUM®, among others.
Key Segment
By Form
- PFPE Oil
- PFPE Grease
By Product Type
- Linear
- Branched
By Application
- Automotive
- Aerospace
- Electronics
- Chemical
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Read Complete Source: https://www.einnews.com/pr_news/571111230/perfluoropolyether-pfpe-market-to-garner-us-1-018-2-mn-by-2029-at-4-3-cagr-says-fmi
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