Perfluoropolyether Market By Product Type (Pfpe Oil And Pfpe Grease), By Application (Aerospace, Electronics, Chemicals, Others), and Region - Global Forecast to 2023

Global Perfluoropolyether Market: Introduction

“The global Perfluoropolyether Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Perfluoropolyether (PFPE), like many other fluoropolymers, exhibit exceptional thermal and oxidative stability. The cumulative result of these properties is manifested in materials that can be functional in a broad range of chemically demanding environments, as well as at very high and very low temperatures.

This versatility has presented opportunities for the use of PFPE in applications ranging from high-performance lubricants for magnetic recording media and aerospace and electronic devices and equipment, to cosmetics and monument protection.

Global Perfluoropolyether Market: Dynamics

Major factor driving growth of the global perfluoropolyether market is low outgassing properties of perfluoropolyether as compared to other lubricants as it does not outgas any hydrocarbons, which is resulting in increasing demand from the electronics sector.

In addition, they are ideal for use in vacuum pumps as sealing and working fluids, especially in systems that are exposed to aggressive gases is another factor expected to support growth of the global perfluoropolyether market. Moreover, PFPE oils and greases are not combustible under any circumstances, making PFPEs safe to use in various critical applications, where fire resistance is a major requirement is another factor expected to further support growth of the target market.

PEFE provides long lasting performance in various industrial applications, which results in reduced wear and tear on machine parts, helps in lowering maintenance costs and production delays, even in the harshest of environments this is another factor expected to further boost the growth of the target market.

Availability of various alternatives such as mineral oil, PAO, diester, silicones, etc. in the market is a major factor expected to hamper growth of the global perfluoropolyether market over the forecast period. For instance, polyalphaolefin premium grade greases are a baseline competitor of PFPEs, and are widely used in electric motor bearings

Global Perfluoropolyether Market Analysis, by Product Type

On the basis of product type segmentation, the PFPE oil segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The PFPE oil segment is expected to witness highest CAGR of over 4.1%. PFPE oils are chemically inert, non-reactive, non-flammable, with anti-seizing properties, and have low vapor pressure. They are used as lubricants in bearings, instruments with moving parts, oxygen systems, and valves in various machinery.

Global Perfluoropolyether Market Analysis, by Application

On the basis of application segment, aerospace segment is expected to contribute major revenue share, and is expected to maintain its dominance over the forecast period. The electronics segment is expected to witness highest CAGR of over 4.1%, owing its robust resistance to most chemicals, acids, and bases, and these factors coupled with high thermal resistance property thereby providing extended service life are expected to drive revenue growth of aerospace segment over the forecast period.

Global Perfluoropolyether Market Analysis, by Region/Country

Europe market is expected to dominate the target market. This can be attributed to high adoption of PFPE in major end-use industries such as automobiles and aerospace and defense, coupled with increasing adoption of PFPE in applications in nuclear power plants in countries in the region. Moreover, increasing investments into R&D for defense and aerospace applications by major countries in the region such as Germany and France, is another major factor expected to support growth of the Europe market over the forecast period

In July 2018, French President Emmanuel Macron promulgated the “Military Planning Law” or “Loi de Programmation Militaire” (LPM) for 2019–2025, wherein military spending by the French government is expected to reach 2% of Gross Domestic Product (GDP) by 2025. The military budget is proposed to be increased by approximately US$ 1.98 Bn per year until 2022, and further by approximately US$ 3.49 Bn per year from 2023.

Furthermore, increasing government initiatives and investments into development and expansion of nuclear power generation facilities in countries in the region are other factors expected to support growth of the Europe market over the forecast period

As of 2016 – according to The European Nuclear Society – there were approximately 186 nuclear power generation units in operation in Europe, of which France had 58 units and Russia had 36 units in operation. Also, Russia had a total of seven nuclear power generation units under construction.

Textiles account for a major volume of exports in China, along with consumer electronics. High adoption of PFPE in various end-use industries, especially chemicals, steel, textile, and automobile, is a major factor driving growth of the China market currently. Moreover, increasing government initiatives for boosting production and exports of automobiles and consumer electronics is another factor expected to boost growth of the China market over the forecast period.

Furthermore, increasing use of PFPE by major end-use industries such as automotive and consumer electronics, coupled with increasing adoption of PFPE in aerospace and defense applications are major factors driving growth of the Japan market currently

In addition, increasing number of government initiatives for supporting growth of the aerospace and aviation industries, primarily to reduce heavy reliance on imports of aerospace and aviation equipment, is another major factor expected to boost growth of the Japan market over the forecast period.

Fluoropolymers play a pivotal role in the Perfluoropolyether market, offering exceptional chemical resistance and lubrication properties for various applications.

Global Perfluoropolyether Market Segmentation:

Segmentation by Product Type:

• PFPE Oil
• PFPE Grease

Segmentation by Application:

• Aerospace
• Electronics
• Chemicals
• Others (Automotive, Steel manufacturing, Food industry, and Packaging industry)

Segmentation by Region/Country:

• US
• Europe
• China
• India
• Japan
• South East Asia