The global market size of engineered fluids (fluorinated fluids) is projected to grow from USD 854 million in 2018 to USD 1,304 million by 2023, at a compound annual growth rate (CAGR) of 8.8% during the forecast period. The major driving factors for the market are the chemical inertness, low & high-temperature stability, non-flammability, and low toxicity properties of engineered fluids (fluorinated fluids). These properties enable engineered fluids (fluorinated fluids) to perform under extreme conditions such as high pressure, oxidation-prone environment, and high temperature operating conditions.
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). These players adopted expansions, acquisitions, and agreements as their key growth strategies in 2017, which helped them increase their capacities and cater to the widening customer base.
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Solvay has acquired Energain Technology from DuPont, thereby, expanding its product portfolio catering to the battery production industry. This acquisition will boost Solvay’s technological road map in the battery production industry. This will, in turn, help the company cater to the electronics & semiconductor industry and work on several new upcoming technologies in the industry. The company markets its fluorinated products under the brands, Fomblin and Galden fluids that are used in heat transfer applications in industries such as electrical & electronics and semiconductor industries. Some of the features of the products include high thermal stability, good dielectric properties, excellent chemical inertness, and wide operating temperature range. They are used in industries such as textile, aerospace, military, and industrial.
The Chemours Company has opened a new production facility at Christi plant in Ingleside, Texas (US). This will triple the company’s capacity for the HFO-1234yf-based-products and is expected to make it a world leader in low global warming potential products. The company manufactures its fluorinated products under the brand, Krytox Oils, which offers good stability, lubricity, and viscosity. The load carrying capability and long-lasting protection of these products can increase the service life of the machine components. They are used in end-use industries such as aerospace, aviation, automotive, electronics, food processing, power generation, pulp & paper, and chemical & petrochemical. Another product offered by the company is Opteon, which is a thermally stable fluorinated fluid. It is nonflammable and colorless. It is used in cleaning and carrier fluid applications such as brine coolants, low environmental impact heat transfer fluids, dielectric fluids, and test fluids.
Engineered fluids (Fluorinated fluids) Market by Type (Lubricants, Solvents, Heat Transfer Fluids), End-Use Industry (Electronics & Semiconductor, Automotive, Chemical Processing, Oil & Gas, Power Generation, Aerospace), Region - Global Forecast to 2023
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