Engineered Fluids Market size is forecast to reach US$1.5 billion by 2027, after growing at a CAGR of 5.5% during 2022-2027. The global usage of engineered fluids as lubricants and heat transfer fluids, owing to its thermal stability is estimated to drive the market growth. Engineered fluids are fluorinated fluids such as polytetrafluoroethylene, perfluoro propyl ether, perfluoropolyether, polyvinyl fluoride, and other polymers. The Engineered Fluids Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the Engineered Fluids industry are –
1. Daikin Industries
2. Lubrilog Lubrication Engineering
3. Solvay S.A.
4. Engineered Custom Lubricants
5. F2 Chemicals Ltd.
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1. Lubricants segment held the largest share in the engineered fluids market in 2021. The rising usage of lubricants, the market for the engineered fluids will further rise over the forecast period.
2. Asia-Pacific region dominated the engineered fluids market with a share of 42% in the year 2021. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for engineered fluids in developing countries such as China, Japan, India, and South Korea.
3. According to the International Energy Association (IEA), in China, in 2021, annual global energy investment is increased to US$ 1.9 trillion, recovering nearly 10 percent from 2020. Thus, the rising growth in the end use industry, will drive the engineered fluids market growth in the forecast period.
4. Oil and Gas industry held the largest share in the engineered fluids market in 2021 and is expected to grow at a CAGR of 5.9% during 2022-2027. The rising investments and production of oil and gas will raise the demand for engineered fluids, which will drive the engineered fluids market growth.
Lubricants, Solvents, Heat Transfer Fluids
By End Use Industry
Transportation, Oil and Gas, Aerospace and Defence, Chemical and Petrochemical, Electrical and Electronics, Power Generation
North America, Europe, Asia-Pacific, South America and Rest of World
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Market Drivers and Challenges:
1. Growing Aerospace & Defence industry is Driving the Market Growth: The growth of the aerospace & defence sector, the market growth for engineered fluids will further rise over the forecast period.
2. Surging Demand for Engineered Fluids in the Electrical and Electronics Industry: Rising growth of the electrical and electronics industry is surging the demand for engineered fluids.
3. Problems Related to the Cracking of Engineered Fluids Will Hamper the Market Growth: The problems associated with the cracking of engineered fluids will hinder the market growth.
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