Global Perfluoropolyether Market size is likely to witness significant gains, growing at a prominent CAGR in the forecast period. Perfluoropolyether belongs to group of fluorinated synthetic groups. The versatile properties of the product enable it to be employed in varied temperature conditions ranging from -80 deg Celsius to 200 degree Celsius.
The major challenges to perfluoropolyether market growth in future are environmental pollution due to fumes emission from perfluoropolyether fluid in elevated temperatures, lack of R&D and product knowledge along with reducing market of CD drives.
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Based on product segment, the perfluoropolyether market share can be divided into PFPE-K, PFPE-M, PFPE-Z and PFPE-Y, (where, PFPE stands for perfluoropolyether). This segmentation is based on usage in different applications, although the chemical composition remains same for all the product types, i.e. similar amount of fluorine, carbon and oxygen atoms in all four kinds. Every product type has come through different manufacturing process and starting material, which gives them unique properties for specific applications.
The product finds application in several end-user industries such as aerospace, automotive, electronics and coatings. The product is widely used for surface coating of stones, tiles, glass and ceramics to impart oil & water repellency strength and other properties such as low friction and adhesion. The non-flammability of the product makes it desirable for use in oxygen service, chemicals, aerospace and semi-conductors, specifically, in semiconductor manufacturing, it is used as vacuum grease and in CD drivers as topcoat lubricant. The product is also used in coatings for advanced braking systems (ABS) in automobile industry.
North America is likely to lead the global perfluoropolyether market share over the forecast period. positive growth indicators in the regional aerospace and defense industry will be the major factor propelling the growth. In case of Europe, countries including France, Germany and Russia are conducting widespread research & development initiatives in the aerospace and defense in order to strengthen their military forces. This is going to positively drive the regional perfluoropolyether market size in the forecast timespan.
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Asia Pacific is expected to witness exponential rise in product demand due to speedy growth of aerospace, electronics and automotive industry in emerging economies particularly, China, India and Japan. Moreover, due to huge vehicle production and booming exports of electronic items from Japan, South Korea, Taiwan and China to other parts of the globe, the product demand is going to rise and eventually increasing the regional perfluoropolyether market size over the forecast timespan.
The prominent market share contributors functional in industry are Daikin, Kluber Lubrication, Dow Corning, Solvay, Saint Gobain, DuPont and Chemours Company. Other companies include Halocarbon Product Corporation, ACG Group, Corning Inc., Nye Lubricants and M&I Materials Limited. The key industry share contributors are involved in extensive R&D in order to achieve competitive advantage in the business.
The prime factor responsible for propelling the global perfluoropolyether market size in future is the growing demand for non-flammable, corrosion-resistant and non-toxic specifications lubricants in automobile industry. The product has all these properties and is widely used in automobile industry for manufacturing greases and lubricants for bearings, gearboxes, valves and many other mechanical components.
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The product is considerably used in aerospace industry as grease for joint and instrument bearings in aircraft fuel system and astronaut’s spacesuit bearings. Thus, huge investments flowing in for aerospace industry development in several countries across the globe, will positively influence perfluoropolyether market share growth in the coming years. Additionally, the rampant growth in electronics industry (mainly in semiconductor manufacturing), due to rising demand for electronics and related products shall propel the product demand globally over the forecast period.