Engineered fluids (Fluorinated fluids) Market worth 1,304 million by 2023 - (At a CAGR of 8.8%) MarketsandMarkets

The report "Engineered fluids (Fluorinated fluids) Market by Type (Lubricants, Solvents, Heat Transfer Fluids), End-Use Industry (Electronics & Semiconductor, Automotive, Chemical Processing, Oil & Gas, Power Generation, Aerospace), Region - Global Forecast to 2023" The engineered fluids (fluorinated fluids) market is estimated at USD 854 million in 2018 and is projected to reach USD 1,304 million by 2023, at a CAGR of 8.8% between 2018 and 2023. The versatility and superior properties of engineered fluids (fluorinated fluids) and increasing investments in APAC are expected to drive the market.

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Electronics & semiconductor is projected to be the fastest-growing end-use industry during the forecast period.

The semiconductor industry is expected to increase its revenue mainly by diversification into new technologies such as the Internet of things (IoT) and artificial intelligence (AI). A lot of companies are also investing in R&D to develop cutting edge technologies. Engineered fluids (fluorinated fluids) are used in applications such as electronics cooling, heating, testing, chamber cleaning, connectors, process chamber, and wafer handling.These applications of engineered fluids (fluorinated fluids) are expected to drive the market.

Lubricants is projected to be the largest segment of the engineered fluids (fluorinated fluids) market during the forecast period.

Fluorinated lubricants are fluorocarbon ether polymers of polyhexafluoropropylene oxide. Fluorinated lubricants are also known as perfluoropolyether.  Fluorinated oils, greases, and wax are covered under this segment. They are non-flammable, chemically inert, non-reactive, and evaporate very slowly. Fluorinated lubricants possess superior properties as compared to petroleum-based lubricants. These fluids are designed to perform effectively between –130°F and 572°F whereas petroleum-based lubricants fail to perform –0.4°F and above 212°F.  Such properties are driving the fluorinated lubricants market.

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Key Market Players

The leading players in the engineered fluids (fluorinated fluids) market are Daikin Industries (Japan), Solvay SA (Belgium), The Chemours Company (US), 3M (US), Asahi Glass Company (Japan), Halocarbon Products Corporation (US), Halopolymer (Russia), F2 Chemicals (UK), IKV Tribology (UK), Lubrilog Lubrication Engineering (France), Nye lubricants (US), and Interflon (Netherlands).

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