Engineered Fluids Market: Global Industry Analysis and Forecast (2023-2029)

Engineered Fluids Market size was valued at USD 1.19 Bn. in 2022 and the total Engineered Fluids revenue is expected to grow by 9 % from 2023 to 2029, reaching nearly USD 2.19 Bn.

Engineered Fluids Market Overview:

Engineered Fluids have been used for a long time in extreme conditions due to their unique properties such as non-flammability, low and high temperature, stability, and non-toxicity. The engineered fluids, also known as fluorinated fluids, are versatile materials used in thermal management applications. Other properties of these fluids include chemical stability, non-toxicity, non-flammability, use at high and low temperatures, and excellent compatibility with a wide range of plastics, metals, and elastomers. Engineered fluids (fluorinated fluids) are specially designed to provide excellent lubricity while maintaining safety and reliability in a variety of advanced applications. This product is primarily used in automotive, electronics and semiconductors, oil and gas, aerospace, and power generation to reduce friction between machine parts. This aspect is expected to drive the growth of the Engineered Fluids Market. The use of the product in a profitable application such as a heat transfer fluid, where there is a high demand for heat stability, purity, lubricity, and low toxicity, as well as the increasing demand due to the versatility and exceptional properties of these products, are the factors driving the Engineered Fluids Market. A surge in funding for manufacturing these products by governments of third-world economies, as well as increased awareness about environmental impact, is increasing their demand as they are known to be environmentally friendly, accelerating the market growth. The high use of these fluids in various industries such as semiconductor and electronics, chemical processing, aerospace, automotive, power, and energy generation, as well as their low global warming potential, may have an impact on the market. Moreover, the growth of end-use industries, an increase in R&D activities, and growing investment all have a positive impact on the market. Additionally, the high demand for heat exchangers and the replacement of petroleum-based lubricants with fluorinated lubricants create several profitable opportunities for Engineered Fluids Market players during the forecast period. On the other hand, the high cost of technology development and manufacturing of fluorinated fluids hamper the growth of the Engineered Fluids Market. Engineered materials are versatile materials used in thermal management applications. Chemical stability, non-toxicity, non-flammability, use at high and low temperatures, and excellent compatibility with a wide range of plastics, metals, and elastomers are some of the properties of these fluids. Engineered fluids are used to reduce friction between machine parts in industries such as electronics and semiconductors, automotive, chemical processing, oil and gas, power generation, and aerospace. All the aspects are considered to boost the Engineered Fluids Market growth in the forecast period.Engineered Fluids MarketTo know about the Research Methodology :- Request Free Sample Report

Engineered Fluids Market Dynamics:

Increased Aircraft Production Volume Fluorinating fluids are used in aircraft as heat transfer fluids to reduce engine temperature, and fluorinated solvents are used to clean aircraft components such as valves and gaskets. Increased aircraft production in regions such as Europe and North America has boosted demand for fluorinated fluids. For example, in 2022, Airbus increased the production rate of A320 Family aircraft from 43 in Q3 to 45 in Q4 at its production plants in France, Germany, and Toulouse. In addition, with 224 units produced in 2020, Boeing was the leading manufacturer of wide-body planes, followed by Airbus with 147 units. As a result of such an increase in major aircraft manufacturers' production, the demand for fluorinated fluids and solvents used in them will also rise. This helps the Engineered Fluids Market grow. Growing Demand for New Automotive Products for Engineered Fluids Fluorinated fluids, such as polytetrafluoroethylene, have a wide range of applications in the automotive industry because they have low friction and prevent the formation of abrasion particles on parts. It is used as a fluorinated lubricant in automotive bushings, gears, and gaskets, and as a dielectric coolant in engines. The rise in purchasing power, rising living standards, and rapid urbanization have all contributed to an increase in demand for new automobiles. According to the Europe Automobile Manufacturer Association's November 2022 report, new passenger car registrations increased by 2.2% in the first ten months of 2022, with increases shown in European Union markets such as Italy (12.7%), Spain (5.6%), and France (3.1%). The increased consumption of automobiles will have a positive impact on the use of fluorinated fluids in the automotive sector, such as dielectric fluid and lubricants. This will have a positive impact on the Engineered Fluids Market growth. Engineered Fluids Market Restraints Fluorinated fluids are engineered fluids that are created in specialized high-temperature, high-pressure reactors using a process designed specifically to create high-purity engineered compounds. The high cost of high-temperature reactors makes the entire manufacturing process very expensive, especially during dielectric coolants. The primary reason for preferring mineral oil to engineered fluids. This may have a negative impact on the Engineered Fluids Market growth. Engineered Fluids Market Opportunity The factors that aid in the market's growth include the superior and environmentally friendly qualities of engineered fluids. Increased thermal management issues in the electronics & semiconductors, automotive, and aerospace industries are some of the factors driving the market. Because of these characteristics, fluorinated can operate under harsh conditions like high pressure, an oxidation-prone environment, and high operating temperatures. However, this market is constrained by the high cost of technological development and manufactured fluids. The increasing application of engineered fluids in several end-use industries is one of the factors anticipated to boost the Engineered Fluids Market. It is primarily because of these fluids' exceptional characteristics. Chemical stability, non-toxicity, and excellent compatibility with a wide range of metals, plastics, and elastomers are a few of the prominent characteristics of engineered fluids. Engineered fluids are used in machine parts to reduce friction. Electronics cooling, heating chambers, cleaning, and wafer handling are some of the most common applications for engineered fluids. Engineered fluids' numerous applications will drive the Engineered Fluids Market. Aside from that, engineered fluids help to reduce global warming potential while having no negative environmental impact. This will boost the Engineered Fluids Market shortly.

Engineered Fluids Market Segment Analysis:

Based on Application, The Lubricants segment dominated the Engineered Fluids Market in 2022 and is expected to do so during the forecast period. Engineered fluids are also utilized in a wide range of applications, including vacuum pump fluids, mechanical sealants, metering fluids, and compressor fluids. They are more stable than petroleum-based lubricants because they do not crack, discolor, react, or dissolve, and they can withstand a wide temperature range of roughly -120°C to 300°C. Since they are non-flammable, resistant to harsh chemicals and fuels, and have low volatility, fluoride-based lubricants are frequently chosen for high-vacuum applications. The market for engineered fluids is expected to be driven during the forecast period by the growing demand from a variety of industries, including chemical, electrical, manufacturing, and oil & gas. Engineered fluids are frequently used as lubricants because of their thermal stability, and their market is expected to grow quickly during the forecast period. Engineered fluids are fluorinated fluids, such as polytetrafluoroethylene, perfluoropropyl ether, perfluoropolyether, etc. They are frequently used as lubricants due to their excellent operational performance, non-reactivity, non-toxic nature, and ability to withstand a wide range of temperatures, from cryogenics to higher ambient temperatures. Engineered Fluids MarketBased on the End-users, The electrical and electronics segment, which has a high temperature and long-lasting lubrication, dominated the engineered fluids market in 2022. The product is primarily used in semiconductors for the benefit of wafer handling and for electronic cooling, heating, testing, process chambers, and connector lubrication. Fluorinated lubricants' ability to carry loads at high temperatures in semiconductors allows them to endure in hostile environments, which is anticipated to fuel the growth of the market during the study period. During the forecast period, the increasing demand for oil and grease for vacuum pumps in semiconductors is expected to drive product demand. During the forecast period, market participants are expected to benefit from innovation and development aimed at lowering the cost of manufacturing technology and replacing traditional lubricants. However, the market's manufacturing technology is more expensive than traditional oil and grease technologies, which is expected to limit market growth during the forecast years.

Engineered Fluids MarketEngineered Fluids Market Regional Insights:

The Asia-Pacific region dominated the Engineered Fluids Market, thanks to increasing demand from countries like India and China. Engineered fluids are used as heat transfer fluids in a variety of applications, including chemical industries, high-performance machines, power generation, and electrical applications such as semiconductors, electronic devices, and servers. The market is expected to be driven by increased competition in the development of artificial intelligence, supercomputers, and the use of electronics. Tata Communications expects to invest approximately $105 million in the Internet of Things, and by 2020, it expects to produce consumer electronics worth USD 29.5 billion. The Indian Internet of Things (IoT) market is expected to reach USD 9.5 billion. With revenue growth of about 19.2% from the year before, Samsung India generated $10.1 billion in revenue in 2019. With an estimated 170 billion USD in revenue for the year 2019, China is one of the leading titans in the electronics sector. Market growth is anticipated to be fueled by the increasing use of electronics in nations like China and India. India is the world's leading manufacturer of generic drugs, supplying roughly half of the total demand and with an export value of approximately USD 19.14 billion in the fiscal year 2019. Globally, India is the third-largest consumer of crude oil and petroleum products, trailing only China and the United States, and it has Asia's second-largest refinery, trailing only China. The value of Indian petroleum imports in 2019 is approximately USD 112.2 billion, representing a 27.2% increase over the previous fiscal year. The market is expected to be driven by India's growing manufacturing sector. During the forecast period, the aforementioned elements, along with government support, will likely lead to an increase in demand for engineered fluids in the Asia-Pacific region.

Engineered Fluids Market Scope: Inquire before buying

Engineered Fluids Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 1.19 Bn.
Forecast Period 2023 to 2029 CAGR: 9% Market Size in 2029: US $ 2.19 Bn.
Segments Covered: by Application • Lubricants • Heat Transfer Fluids • Others
by End-users • Electrical & Electronics • Automotive • Chemical Industries • Power Generation • Oil & Gas • Others
by Polymer Type • Polytetrafluoroethylene (PTFE) • Polyvinyl Fluoride (PVF) • Polyvinylidene Fluoride (PVDF) • Other

Engineered Fluids Market, by Region

• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)

Engineered Fluids Market, Key Players are:

• Solvay • The Chemours Company • Daikin Industries, Ltd. • 3M • Asahi Glass Company • IKV Tribology • Lubrilog Lubrication Engineering • AGC Chemicals • Honeywell International Inc. • Halocarbon Products Corporation • Halopolymer Kirovo-Chepetsk • Engineered Custom Lubricants • F2 Chemicals Ltd • Interflon • Finish Line • Nye Lubricants • Frontier Performance Lubricants • Condat Lubricants • Klüber Lubrication Frequently Asked Questions: 1] What are fluorinated fluids? Ans. Fluorinated heat transfer fluids are fluorinated GHGs used in certain types of electronics manufacturing production processes for temperature control, device testing, cleaning substrate surfaces and other parts, and soldering. 2] What is Halocarbon oil used for? Ans. As a medium viscosity inert oil manufactured within the industry standard viscosity range of 10%, Halocarbon 27 is the ideal fluorinated oil for general-purpose inert lubrication for applications such as bearings, compressors, gearboxes, and pumps. 3] What is fluorinert used for? Ans. 3MTM FluorinertTM Electronic Liquids are heat transfer and immersion cooling dielectric fluids. Thermal management applications include semiconductor wafer manufacturing, electronics reliability testing, data center server immersion cooling, and a wide range of other high-tech applications. 4] What is the market size of the Global Engineered Fluids Market by 2029? Ans. The market size of the Engineered Fluids Market by 2029 is expected to reach US$ 2.19 Bn. 5] What segments are covered in the Global Engineered Fluids Market report? Ans. The segments covered in the Engineered Fluids Market report are based on Application and End Users.
1. Global Engineered Fluids Market: Research Methodology 2. Global Engineered Fluids Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Engineered Fluids Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Engineered Fluids Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Engineered Fluids Market Segmentation 4.1 Global Engineered Fluids Market, by Application (2022-2029) • Lubricants • Heat Transfer Fluids • Others 4.2 Global Engineered Fluids Market, by End-users (2022-2029) • Electrical & Electronics • Automotive • Chemical Industries • Power Generation • Oil & Gas • Others 4.3 Global Engineered Fluids Market, by Polymer Type (2022-2029) • Polytetrafluoroethylene (PTFE) • Polyvinyl Fluoride (PVF) • Polyvinylidene Fluoride (PVDF) • Other 5. North America Engineered Fluids Market(2022-2029) 5.1 North America Engineered Fluids Market, by Application (2022-2029) • Lubricants • Heat Transfer Fluids • Others 5.2 North America Engineered Fluids Market, by End-users (2022-2029) • Electrical & Electronics • Automotive • Chemical Industries • Power Generation • Oil & Gas • Others 5.3 North America Engineered Fluids Market, by Polymer Type (2022-2029) • Polytetrafluoroethylene (PTFE) • Polyvinyl Fluoride (PVF) • Polyvinylidene Fluoride (PVDF) • Other 5.4 North America Engineered Fluids Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Engineered Fluids Market (2022-2029) 6.1. European Engineered Fluids Market, by Application (2022-2029) 6.2. European Engineered Fluids Market, by End-users (2022-2029) 6.3. European Engineered Fluids Market, by Polymer Type (2022-2029) 6.4. European Engineered Fluids Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Engineered Fluids Market (2022-2029) 7.1. Asia Pacific Engineered Fluids Market, by Application (2022-2029) 7.2. Asia Pacific Engineered Fluids Market, by End-users (2022-2029) 7.3. Asia Pacific Engineered Fluids Market, by Polymer Type (2022-2029) 7.4. Asia Pacific Engineered Fluids Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Engineered Fluids Market (2022-2029) 8.1 Middle East and Africa Engineered Fluids Market, by Application (2022-2029) 8.2. Middle East and Africa Engineered Fluids Market, by End-users (2022-2029) 8.3. Middle East and Africa Engineered Fluids Market, by Polymer Type (2022-2029) 8.4. Middle East and Africa Engineered Fluids Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Engineered Fluids Market (2022-2029) 9.1. South America Engineered Fluids Market, by Application (2022-2029) 9.2. South America Engineered Fluids Market, by End-users (2022-2029) 9.3. South America Engineered Fluids Market, by Polymer Type (2022-2029) 9.4 South America Engineered Fluids Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Solvay 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 The Chemours Company 10.3 Daikin Industries, Ltd. 10.4 3M 10.5 Asahi Glass Company 10.6 IKV Tribology 10.7 Lubrilog Lubrication Engineering 10.8 AGC Chemicals 10.9 Honeywell International Inc. 10.10 Halocarbon Products Corporation 10.11 Halopolymer Kirovo-Chepetsk 10.12 Engineered Custom Lubricants 10.13 F2 Chemicals Ltd 10.14 Interflon 10.15 Finish Line 10.16 Nye Lubricants 10.17 Frontier Performance Lubricants 10.18 Condat Lubricants 10.19 Klüber Lubrication
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