Engineered Fluids Market

Engineered Fluids Market Size (2023-2028):

The Engineered Fluids Market size was valued as growing at a CAGR of 8.99% from 2023-2028

Engineered fluids are used in extreme environments for long periods of time because of their unique qualities such as non-flammability, low and high-temperature stability, and non-toxicity. Fluorinated fluids, often known as tailored fluids, are flexible materials utilized in heat management applications. Chemical stability, non-toxicity, non-flammability, high and low-temperature use, and great compatibility with a wide range of polymers, metals, and elastomers are some of the additional qualities of these fluids.

This product is largely used in automotive, electronics and semiconductors, oil and gas, aerospace, and power generation to reduce the friction between the parts of the machine.

The use of the product in a lucrative application such as heat transfer fluid, where there is a high demand for heat stability, purity, lubricity, and low toxicity, as well as the rising demand for these goods' adaptability and remarkable qualities, are driving the Engineered Fluids Market.

Engineered Fluids Market Drivers:

Engineered fluids are primarily driven by their better properties, which include low temperature, non-toxicity, stability, and non-flammability, all of which are required to improve the performance of heavy machinery in industrial plants. Engineered fluids can perform under difficult conditions such as oxidation-prone environments, high pressures, and high temperatures thanks to these features. The growing need for engineered fluids is fueled by the need for thermal control in the automotive, electronics & semiconductor, and power generation industries.

Furthermore, in the projection period, the increased demand for heat exchangers and the replacement of petroleum-based lubricants with fluorinated lubricants provide various profitable chances for Engineered Fluids Market players. Engineered materials are adaptable and can be employed in a variety of thermal management applications. Chemical stability, non-toxicity, non-flammability, high and low-temperature use, and great compatibility with a wide range of polymers, metals, and elastomers are just a few of the qualities of these fluids. Engineered fluids are used to reduce friction between machine parts in a variety of end-use industries, including electronics and semiconductors, automotive, chemical processing, oil and gas, power generation, and aerospace.

Engineered fluids Market Restraints:

The high cost of technology development and manufacture of fluorinated fluids, on the other hand, may stymie the Engineered Fluids Market's growth. Manufacturing costs are expensive, and there are cheaper substitutes on the market, limiting expansion. Opportunities for global engineered fluids market players include an increase in demand for heat exchangers and the replacement of petroleum-based lubricants with engineered fluids. The availability of a cheaper substitute in the market may hinder expansion in the global Engineered Fluids Market. To cut costs in their manufacturing facilities, mid-sized enterprises are replacing engineered fluids with less expensive grease.

ENGINEERED FLUIDS MARKET REPORT COVERAGE:

Market Segmentation:

Engineered fluids Market Type:

• Lubricants

• Solvents

• Heat Transfer Fluids

Among product type categories, the lubricants segment had the highest revenue share. Fluorinated lubricants have low oxidation and evaporation rates, making them ideal for long-term use. These are fire-resistant and can be used in a variety of temperature environments. Lubricants can also be used to keep plastic and rubber lubricated in places where chemical or solvent leaks are a possibility. Fluorinated lubricants have better properties than petroleum-based lubricants. Petroleum-based lubricants fail to operate well between –0.4°F and 212°F, whereas these fluids are designed to work efficiently between –130°F and 572°F. The market for fluorinated lubricants is being driven by these features.

Engineered Fluids Market By End-User:

• Electronics and Semiconductors

• Automotive

• Oil and Gas

• Others

Among the industrial vertical categories, the oil and gas category had the highest revenue share. High-performance clothing is water and oil-resistant, as well as stains and abrasion-resistant, thanks to these fluids. High-performance apparel and equipment make it easier to clean spills in adverse weather, extending the life of the apparatus. Surfactants are used in adhesives, sealants, and caulks to strengthen the bond between surfaces. It reduces corrosion and weather-related infrastructure failures, lowering maintenance costs and improving occupant safety.

Regional Analysis:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• The Middle East and Africa 

In the Asia Pacific, Because of rising demand from countries such as India and China, Japan, and Korea, the Asia-Pacific region is likely to dominate the Engineered Fluids market during the forecast period. Engineered fluids are utilized as heat transfer fluids in a wide range of applications, including the chemical industry, high-performance machinery, power generation, and electrical applications like semiconductors, electronic devices, and servers. The market is likely to be driven by increasing competition in the development of artificial intelligence, supercomputers, and electronic usage.

North America is anticipated to hold the larger share after the APAC (Asia Pacific) region in the global engineered fluids market.       

Impact of COVID-19 (Engineered Fluids Market):

Due to covid-19, almost every industry in the world has suffered a setback. It's attributed to major disruptions in their manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other restrictions imposed by governments around the world.

Furthermore, consumer demand has reduced as people have been more focused on removing non-essential expenses from their budgets as the outbreak has damaged the general economic condition of most people. Over the forecast period, the factors are estimated to affect the global Engineered Fluids Market’s revenue in the next six years. As various regulating agencies begin to lift these enforced lockdowns, the global Engineered Fluids Market may resurge. It is anticipated to weigh on the worldwide Engineered Fluids (Fluorinated Fluids) market's sales forecast when the Covid-19 pandemic was going on. As various regulating authorities begin to lift these enforced lockdowns, the global Engineered Fluids (Fluorinated Fluids) market is expected to rebound.

Recent Developments:

January 10, 2022: AGC Chemicals Americas Inc. (AGCCA) has announced a fifty percent increase in manufacturing, quality control lab, and administrative space at its Thorndale, Pennsylvania, production plant. The multipurpose building will be designed to suit the existing business's growing needs while also allowing for future production expansions and additional capabilities.

4^th January 2021: Arna Industrial Solutions, LTD has signed a two-year distribution agreement with Halocarbon, a US-based provider of specialty fluorinated materials and high-performance lubricants. Arna Industrial Solutions will represent and distribute Halocarbon Engineered Fluids in India as part of this partnership. Arna will use its regional market experience, technical-sales expertise, and regional distribution network as the primary distributor of Halocarbon Engineered Fluids in India to improve the availability of high-performance Halocarbon oils and greases across the Indian subcontinent.

Engineered Fluids Market Key Players:

The key players in the engineered fluids Market are:

• 3M Company

• Halocarbon Products Corporation

• The Chemours Company

• AGC Chemicals Americas

• Halo polymer Kirovo Chepetsk

• Daikin Industries

• Lubri log Lubrication Engineering

• Solvay S.A

• Engineered Custom Lubricants

• F2 Chemicals Ltd.