Perfluoropolyether Market Outlook - 2027
SELBYVILLE, Del. - March 1, 2021 - (Newswire.com)
Based on Global Market Insights Inc., report, the Perfluoropolyether Market size was estimated at $540 million in 2020 and is slated to surpass $895 million by 2027, registering a CAGR of 6% from 2021 to 2027 primarily owing to increasing demand for PFPE products from the aerospace industry. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.
PFPE Z market should grow at a CAGR of over 6% by 2027 owing to its increased demand from the aerospace industry as it provides better performance application. On the other hand, the perfluoropolyether Y market surpassed USD 135 million in 2020 pertaining to its ability to prevent corrosion on metal parts of a vacuum pump.
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Food industry applications should surpass USD 6.8 million by 2025. The perfluoropolyether lubricants are food-grade owing to their wide application in the food industry which should drive the perfluoropolyether market growth. PFPE lubricants reduce the wear of machines caused by two metal contact and are therefore used in the food industry for machinery applications.
A growing population and increased demand for packaged food and beverage products should accelerate the food and beverage industry. An increasing number of working individuals has increased the demand for ready-to-eat and packaged food products which should boost the food industry market thereby driving the demand for perfluoropolyether. A rising shift of manufacturers toward automated machines for the production of packaged food and beverages shows significant opportunities for the perfluoropolyether market share.
Textile application should surpass over USD 2.5 million by 2027 which should positively impact the market growth. PFPE products offer enhanced performance and shelf life to textile machines and equipment owing to its application in the textile industry. The product offers lubrication at high temperatures and enhances the performance of textile manufacturing machine parts including gearboxes, high-speed motors and reel bearings which should stimulate the perfluoropolyether market demand.
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Europe should register over 6.5% gains by 2027 on account of rising technological advancements in the automotive sector in the region. The growth of the automotive industry in the European region should boost the market growth over the forecast period. Perfluoropolyether lubricants offer high functionality owing to its versatile properties which should drive the PFPE demand.
Stringent government regulation has led the demand for high-quality lubricants for contribution to low carbon emissions and reduced environmental pollution. High-quality lubricants in old engines reduce the emission of toxic gases thereby increasing the demand for the product from the automotive industry which should stimulate PFPE market growth in the region.
The perfluoropolyether industry share is fragmented which includes companies such as M&I Materials Limited, IKV Tribology, Metalubgroup, Lubrilog SAS, Daikin Industries Inc., Solvay, The Chemours Company, Kluber Lubrication, Nye Lubricants.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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Original Source: Perfluoropolyether Market is expected to garner $895 million by 2027, says Global Market Insights Inc.