$1.3 Billion Engineered Fluids Market - Global Forecast to 2023

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Mar 22, 2019, 11:45 ET

DUBLIN, March 22, 2019 /PRNewswire/ -- The "Engineered Fluids (Fluorinated Fluids) Market by Type, End-Use Industry, Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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 market is driven by various factors such as increased thermal management issues in industries such as electronics & semiconductor, automotive, and aerospace. These properties enable fluorinated to perform under extreme conditions such as high pressure, oxidation-prone environment, and high temperature operating conditions. Engineered fluids (fluorinated fluids) are used in various end-use industries such as electronics & semiconductor, automotive, chemical processing, oil & gas, power generation, and aerospace, to reduce friction between the machine parts.

Electronics & semiconductor end-use industry is expected to register the highest CAGR in the global engineered fluids (fluorinated fluids) market 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.

Heat transfer fluids segment is expected to register the highest CAGR in the global engineered fluids (fluorinated fluids) market during the forecast period.

Heat transfer fluids maintain the temperature of a system and enhance energy savings by transferring heat from one system to another. They store heat to prevent the overheating of thermal devices by circulating the fluid through its mechanical parts. Important heat transfer fluid properties include low toxicity, low viscosity at low temperatures, high specific heat, thermal conductivity, and a high flash point. Increasing emphasis on energy savings due to awareness about energy conservation is expected to benefit the heat transfer fluids market. This is expected to provide growth opportunities for the heat transfer fluids market.

APAC is projected to record the highest growth rate during the forecast period.

APAC is the largest engineered fluids (fluorinated fluids) market and is expected to continue until 2023. China is the key market in the region. India is expected to witness the fastest growth rate, in terms of consumption, between 2018 and 2023. Currently, the global electronic chips market is dominated by China, Japan, and South Korea, in terms of production and revenues. The low manufacturing cost has encouraged electronics-producing companies to establish their presence in the countries of APAC. This has increased electronics production in APAC, which is projected to increase the demand for engineered fluids (fluorinated fluids) in the region between 2018 and 2023.

Market Dynamics

Drivers

Superior Properties of Engineered Fluids (Fluorinated Fluids)
Environment-Friendly Properties of Engineered Fluids (Fluorinated Fluids)
High Demand in APAC
Growth of End-Use Industries

Restraints

High Cost of Technology Development and Manufacturing of Engineered Fluids (Fluorinated Fluids)

Opportunities

Growing Demand for Heat Exchangers
Replacement of Petroleum-Based Lubricants With Fluorinated Lubricants

Companies Mentioned

Asahi Glass Company
Condat Lubricants
Daikin Industries
Engineered Custom Lubricants
F Chemicals Ltd.
Finish Line
Frontier Performance Lubricants, Inc.
Halocarbon Products Corporation
Halopolymer Kirovo-Chepetsk
Harves Co. Ltd.
Honeywell International Inc.
IKV Tribology
Interflon
Kluber Lubricants
Lubrilog Lubrication Engineering
Nye Lubricants
Performance Fluids Limited
Solvay SA
The 3M Company
The Chemours Company

For more information about this report visit https://www.researchandmarkets.com/research/mm3tpp/1_3_billion?w=5

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