The advancement in technology and rapidly growing electronics & semiconductor, automotive, and aerospace industry has been providing opportunities for market growth
The global engineered fluids (fluorinated fluids) market size is projected to reach nearly USD 2,202.50 million by 2028. Additionally, the market is forecasted to grow a CAGR of above 8.65% over the forecast period of 2020-2028. Engineered fluids (fluorinated fluids) are projected to propel the market due to their flexibility and superior properties, as well as increased investment in APAC. Engineered fluids (fluorinated fluids) are used as lubricants, solvents, and heat transfer fluids in the electronics and semiconductors end-use industry. Because of the increased thermal control problems in automatic testing, stepper, chemical vapor deposition (CVD), and etching, the electronics industry needs long-term, high-performance solutions. Engineered fluids (fluorinated fluids) have a low global warming risk (GWP) and have little negative environmental effects.
The report also outlines the various characteristics of the global engineered fluids (fluorinated fluids) industry by assessing the market from value chain analysis. Moreover, the engineered fluids (fluorinated fluids) market report comprises various qualitative parts of the engineered fluids (fluorinated fluids) industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The engineered fluids (fluorinated fluids) market has huge competition amongst the already well-known and new market players. Also, the engineered fluids (fluorinated fluids) industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Heat transfer fluids transfer heat from one system to another, allowing a system to retain its temperature and save energy. Through pumping the fluid through its mechanical components, these fluids retain heat to prevent thermal systems from overheating. Low toxicity, low viscosity at low temperatures, high specific heat, thermal conductivity, and a high flash point are all important heat transfer fluid properties. When heat stability, purity, and low toxicity are needed, engineered fluids (fluorinated fluids) are used as heat transfer fluids.
Engineered fluids (fluorinated fluids) is in high demand in the Asia Pacific region due to the strong demand in chemical and oil & gas industries, with China being the largest and India being the fastest growing industry. Low production costs also motivated electronics manufacturers to develop a foothold in APAC countries. As a result of the increased electronics output in APAC, the market for engineered fluids (fluorinated fluids) in the area is expected to rise.
The major players of the global 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). The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
Segment Overview of Global Engineered fluids (fluorinated fluids) Market
Type Overview, 2018-2028 (USD Billion)
- Heat Transfer Fluids
End Use Industry Overview, 2018-2028 (USD Billion)
- Electronics & Semiconductor
- Oil & Gas
- Power Generation
- Chemical Processing
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America