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
NEW YORK, March 21, 2019 /PRNewswire/ -- Versatility and superior properties of engineered fluids (fluorinated fluids) are expected to drive the global engineered fluids (fluorinated fluids) market during the forecast period.
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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.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below.
• By Company Type - Tier 1 – 25%, Tier 2 – 42%, and Tier 3 – 33%
• By Designation - C level – 20%, Director level – 30%, and Others – 50%
• By Region - Europe – 20%, APAC – 50%, North America – 10%, South America – 10%. Middle East & Africa – 10%
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).
Research Coverage:
This research report categorizes the global engineered fluids (fluorinated fluids) market on the basis type, end-use industry, and region.The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, and opportunities.
Detailed analysis of the key market players provides insights into business overviews, services, key strategies, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global engineered fluids (fluorinated fluids) market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, acquisitions, and agreements.
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