Future Market Insights recently published a market study that offers resourceful insights related to the growth trajectory of the perfluoropolyether market during the forecast period, 2019-2029. The report covers the major factors that are expected to influence the overall dynamics of the market during the assessment period including the market trends, opportunities, restraints, and more. As per the report, the value of the perfluoropolyether market in 2019 was estimated to reach ~US$ 650 million and the market is projected to growth at a compounded annual growth rate (CAGR) of around 4% through the considered forecast period.
Some of the major factors that are expected to influence market growth include, high demand for effective and high temperature-resistant lubricants for applications within the aerospace industry. In addition, significant growth in the manufacturing activities within the automotive, electronic, and the aerospace sectors worldwide is another leading factor that is likely to propel the demand for perfluoropolyethers in the upcoming years. Moreover, the adoption of perfluoropolyethers as a lubricant in the aforementioned industries for a range of applications including, vacuum pump, wheel bearing, and more is on the rise – playing an imperative role in boosting the growth prospects of the perfluoropolyether market in the upcoming years.
Increase in the number of new aircrafts expected to fuel market growth
Over the last decade, a significant growth in air travel was observed worldwide which in turn has led to an increase in the production of new aircrafts. Furthermore, consumer preference for air travel owing to a range of factors has resulted in the overall growth in the number of new aircrafts – a trend that is expected to generate significant demand for perfluoropolyether in the upcoming years.
Apart from the growing usage of perfluoropolyethers in the production of new aircrafts, the growing demand for lubricants such as perfluoropolyether for power generation is expected to provide an impetus to the growth of the perfluoropolyether market in the foreseeable future.
Developed regions projected to provide significant opportunities
According to the recently published report, North America and Europe are tipped to collectively account for around half of the overall revenue shares within the perfluoropolyether market towards the end of 2029. The major factors that are likely to boost the growth of the market include, a significant presence of the electronics, aerospace, and chemical industries in the aforementioned regions. Further, advancements in technology and added research and development activities in the developed economies of Europe and North America are likely to impact the adoption of perfluoropolyethers over the forecast period.
Perfluoropolyethers Market: Vendor Insights
The report sheds light on the proceedings of the major market players operating within the current market landscape. Further, vital information such as the market share, size, sales footprint, and more of the leading companies is covered in the report along with relevant tables and figures. Some of the most established market players in the perfluoropolyethers market are, Klüber Lubrication München SE & Co. KG, M&I Materials Ltd, Husk-ITT Corporation, Solvay S.A., The Chemours Company FC, LLC, and Daikin Industries, Ltd among others.
For information on the research approach used in the report, request methodology@https://www.futuremarketinsights.com/askus/rep-gb-5647