Future Market Insights (FMI) has projected the market of perfluoropolyether to witness a year-on-year growth of 4.3% in 2022 reaching a value of about USD 758.8 Million by the end of 2022. The global market is anticipated to grow with a growth rate of 4.3% during the assessment period of 2022 and 2029.
| Attribute | Details |
|---|---|
| Base Year Value (2021A) | USD 727.6 Million |
| Estimated Year Value (2022E) | USD 758.8 Million |
| Projected Year Value (2029F) | USD 1,018.2 Million |
| Value CAGR (2022 to 2029) | 4.3% |
| Collective Value Share: Top 3 Countries (2022E) | 39.9% |
Growing demand for perfluoropolyether both oil and grease in various application sectors like aerospace, aviation, electronics, and others to boost the sales volume during the forecast period. FMI has estimated the global perfluoropolyether sales to reach a value of USD 1,018.2 Million by the end of 2029.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.1% |
| H1,2022 Projected (P) | 4.4% |
| H1,2022 Outlook (O) | 4.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 20 ↑ |
Based on a half-yearly analysis, Future Market Insights has provided a comprehensive overview of the global PFPE market for the preceding two years in this report. The research provides information on the market growth outlook accounting for all the demographic changes that had placed this year. The projected CAGR from its prior report compares to the present and revised CAGRs.
The demand for PFPE has reportedly been steadily rising across a variety of end-use industries, which has contributed to the market's explosive rise, claims the report. Sales of PFPE have increased as a result of the recent large increase in demand for efficient lubricants.
The global PFPE market is expected to develop with a growth rate of 4.4 percent in 2022, according to a prior report by Future Market Insights. However, FMI re-evaluated this growth during the half-yearly market research and discovered a decline of 10 BPS points. When compared to the growth rate for 2021, the market has increased by 20 BPS points.
The primary driver of the demand surge in the PFPE market in 2022 is the steady increase in demand for higher-grade lubricants. Sales of PFPE are anticipated to increase over the projection period as a result of the quick expansion in the electronics and automotive industries.
Despite such high growth prospects of PFPE, some challenges are awaiting the success path of PFPE. The declining usage of PFPE with the growing popularity of its alternative lubricants in production is expected to stifle the growth rate during the upcoming period.
Consumption of the special category of lubricants increased at 4.0% CAGR, between the historical period of 2014 and 2021, owing to its considerable applications in several end-use sectors. The demand for these polymeric substances decreased in the year 2020 owing to the impact of the Covid-19 pandemic, which has impacted the overall historical growth rate.
Significant production rates and consumption in the aerospace sector are expected to boost the demand for perfluoropolyether lubricants over the forecast period. PFPE oil is expected to remain in high demand due to its applications in aerospace, automotive, and electronic equipment.
The growing electronics industry is a positive sign for PFPE lubricants sales, as these are used for multiple applications in the field. Emerging applications of PFPE lubricants in plastic, paper, and leather industries are further anticipated to drive the growth of the market in the coming years.
Growing demand for higher-grade of lubricants all over the globe in aerospace and automotive for higher efficiency has bolstered the demand for Perfluoropolyether, resulting in higher growth as compared to that in past years.
Principal Consultant
As per the information provided by the International Air Transport Association (IATA), the fleet size of the globe exceeded 4.5 billion in the year 2019. Underpinned by increasing disposable income and the rapidly growing middle-class population, air passenger traffic is expected to witness robust growth in the forecast period.
Rising per capita income, increasing affordability, and propensity to travel are some of the factors set to continue to propel traffic growth and drive the need for more aircraft. Furthermore, factors, such as growth in the tourism industry, and increasing international travel, are largely contributing to the increasing consumer preference for air travel.
Consequently, this growth in air travel is directly influencing airline carriers to deploy new aircraft, which in turn, will create demand for better, efficient lubricants, such as perfluoropolyether during the forecast period. Further increase in the trade by air transportation is also boosting the demand for efficient lubricants, as many a times goods are to be transported within a short period of time.
All these are bolstering the flight time for aircraft and boosting the consumption rate of lubricants including PFPE.
Asia Pacific is expected to account for the highest demand for industrial greases and oil across the globe. With the surge in industrial production rate and improving economy in the region, the demand for industrial greases and oil is expected to trend upward. With the utilization of advanced machinery across various industry segments in order to increase manufacturing output, the need for lubrication will also grow, surging the demand for greases and oil.
Emerging economies such as BRICS (Brazil, Russia, India, China, and South Africa) are expected to witness significant growth in GDP in the coming years. This is likely to result in an increase in manufacturing in various industries, resulting in an increase in demand for industrial greases. An increase in automobile sales is expected to fuel demand for industrial greases such as PFPE lubricants (Oil & Grease) in emerging economies.
Further growth in the aviation sector with increasing fleet size and transportation of goods and materials are also boosting the consumption rate of this special category of lubricants. All these factors are anticipated to create significant growth opportunities for the market in emerging economies.
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With the outbreak of the SARS-COV-2 virus all over the globe in the initial quarter of 2020 has resulted in a decrease in the production of automobiles, aircraft, and others.
Reduce in the movement of vehicles and aircraft has impacted the sales of perfluoropolyether significantly in these application segments. The further shutdown of the manufacturing industries due to social distancing and lockdowns has also impacted the consumption of lubricants and oil all over the world.
However, economic recovery from the second half of the year 2020 and the opening of the manufacturing sectors boosted consumption resulting in the recovery of demand.
Sales of perfluoropolyether in the USA are estimated to grow with a growth rate of 3.3% over the forecast period of 2022 and 2029. Significant demand for oil and greases in the country is boosting the market. Further, the United States of America is anticipated to remain one of the key markets all over the globe owing to a high production rate of automobiles and aircraft along with substantial expenditure in the air force.
Strong growth in the aviation sector and automotive sectors along with higher fleet size has boosted the industry of PFPE in the country. Strong industrial growth also has benefited the market, especially the development of the chemical industries. Significant investment in research and development to innovate the product and to enhance the applications of the product has also added to the development of the business of PFPE in the country.
Sales of Perfluoropolyether in ASEAN countries are estimated to account for a key share of the overall sales revenue generated in the South Asia region. ASEAN is estimated to witness a year-over-year growth of 5.6% in 2022 reaching a market share of about 45% in the South Asia region by the end of the year.
This significant growth in the market is owing to the presence of various end-use industries like chemical, and electronics and strong development in the manufacturing sector. Moreover, growing production and sales of automobiles are also boosting the consumption rate.
The strong presence of chemical industries, enhancing the economic condition of the people, growing investment of several key market participants in these countries owing to ease of doing business, and low capital expenditure are expected to remain key growth drivers for the market in ASEAN.
China is anticipated to witness a growth rate of 5.8% over the coming assessment period of 2022 and 2029. The perfluoropolyether market is not a standalone industry but rather depends upon several end-use sectors. The growth of end-use industries directly impacts the growth of the target market.
In the past few decades, growth in the chemical industry, strong development in the manufacturing sector, along with the sales of the automotive industry, etc. have contributed significantly to the lubricants market, especially to the perfluoropolyether market in China. The high performance of end-user industries is anticipated to bolster the consumption rate in the coming years.
Significant growth of the chemical and electronics industry in developing countries such as China, India, and ASEAN countries, is anticipated to drive the demand for the PFPE Grease market over the forecast period. The PFPE grease segment is preferred for many industrial MRO (maintenance, repair, and overhaul) applications where machine reliability is the ultimate goal.
The PFPE grease segment is expected to witness considerable growth over the forecast period. The segment has been estimated to account for about 46% of the overall volume consumption of perfluoropolyether in the market of China. Furthermore, the segment is forecasted to witness a certain gain in market share by the end of the forecast period.
Linear PFPE polymers have a crucial property of non-combustibility under several circumstances at the industrial level, along with their long-lasting industrial performance. Increasing demand for the linear segment in perfluoropolyether in multiple end-use sectors and machinery provides the impetus for the growth of the market.
The segment is anticipated to grow with a growth rate of 3.2% during the forecast period in the North American region. Moreover, the introduction of new technologies in home appliances and consumer electronics, the power industry, and the oil & gas industry is attracting consumers to this market.
This category of product is one of the eco-friendly products not causing harm to the environment. Attributing to this factor, the government and authorities of various regions allowed the usage of PFPE across a number of end-use industries.
PFPE lubricants are gaining traction owing to their non-toxic nature and providing all the properties of several lubricant applications. Multiple end users, such as automotive car manufacturers, aerospace equipment and machinery, electronics, textile, and paper, among others use PFPE lubricants extensively for equipment, such as wheel bearings and vacuum pumps as thickeners and base oil.
All these applications are boosting the demand for the polymer. The aerospace segment is anticipated to account for about 30% of the overall consumption of this polymer. Strong demand for high-quality lubricants in the aviation sector has resulted in the significant consumption of the product in this industry.
The global perfluoropolyether industry is anticipated to be fairly fragmented and the key players are focusing on increasing their market share by focusing on acquisitions, expansion of the production capacities, collaborations, and joint ventures.
Certain key manufacturers are focusing on product development along with the introduction of new products through annual product launches. Setting up new manufacturing units is also benefiting companies' enhancement in market footprint all over the globe.
For Instance:
The latest study conducted by Future Market Insights covers all the strategies and success factors of key manufacturers of the market.
*The list is not exhaustive and is only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East & Africa; & Oceania |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, NORDICS, Spain, Russia, Poland, BENELUX, China, Japan, India, ASEAN, Oceania, South Korea, Taiwan, Brazil, Mexico, GCC Countries, South Africa, Northern Africa, Turkey |
| Key Segments Covered | Derivatives, Application, End Use, and Region |
| Key Companies Profiled | Klüber Lubrication München SE & Co. KG; M&I Materials Ltd., Solvay S.A.; Husk-ITT Corporation; The Chemours Company; Total S.A.; Daikin Industries, Ltd.; LUBRILOG SAS Z.I.; NYE Lubricants Inc.; Fluorotech USA; Setral Chemie GmbH; Shanghai ICAN Chemical S&T Co., Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The perfluoropolyether global business is estimated to create a value of USD 758.8 Million in 2022.
The demand for Perfluoropolyether has been expected to witness a growth rate of 4.3% between the period of 2022 and 2029 in terms of value.
The aerospace segment is anticipated to significantly contribute to the global market share to the overall market in 2022 accounting for about 30% of all applications’ share.
Klüber Lubrication München SE & Co. KG, M&I Materials Ltd., Solvay S.A., Husk-ITT Corporation, The Chemours Company FC, LLC, Total S.A., Daikin Industries, Ltd., and many others are the leading market players. The key market participants have been estimated to account for about 32% of the global market share of perfluoropolyether.
The consumption rate in the USA is expected to increase by 3.3% CAGR between the period of 2022 and 2029 on a value basis.
1. Executive Summary | Perfluoropolyether (PFPE) Market
2. Market Overview
3. Key Success Factors
4. Global Market Demand Analysis 2014 to 2021 and Forecast, 2022 to 2029
5. Market Background
5.1. Macro-Economic Factors
5.2. Forecast Factors - Relevance & Impact
5.3. Market Dynamics
5.4. Supply Demand Analysis
5.5. Porter’s Analysis
5.6. Cost Structure Analysis
5.7. Impact of COVID-19 Crisis
6. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Form
6.1. PFPE - Greases
6.2. PFPE - Oil
7. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Product Type
7.1. Linear
7.2. Branched
8. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By End Use
8.1. Automotive
8.2. Aerospace
8.3. Chemicals
8.4. Electronics
8.5. Others
9. Global Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Region
9.1. North America
9.2. Latin America
9.3. Europe
9.4. East Asia
9.5. South Asia
9.6. Oceania
9.7. Middle East & Africa
10. North America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
11. Latin America Market Analysis 2014 to 2021 and Forecast 2022 to 2029
12. Europe Market Analysis 2014 to 2021 and Forecast 2022 to 2029
13. East Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029
14. South Asia Market Analysis 2014 to 2021 and Forecast 2022 to 2029
15. Oceania Market Analysis 2014 to 2021 and Forecast 2022 to 2029
16. Middle East & Africa Market Analysis 2014 to 2021 and Forecast 2022 to 2029
17. Emerging Countries Market Analysis
18. Market Structure Analysis
19. Competition Analysis
19.1. Klüber Lubrication München SE & Co. KG
19.2. M&I Materials Ltd
19.3. Solvay S.A.
19.4. Husk-ITT Corporation
19.5. The Chemours Company FC, LLC
19.6. Total S.A.
19.7. Daikin Industries, Ltd.
19.8. LUBRILOG SAS Z.I.
19.9. NYE Lubricants Inc.
19.10. Fluorotech USA
19.11. Setral Chemie GmbH
19.12. Shanghai ICAN Chemical S&T Co., Ltd.
20. Assumptions and Acronyms Used
21. Research Methodology
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Perfluoropolyether (PFPE) Market
