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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.

HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- The 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. Increasing demand for high-performance heat transfer fluids in various industries due to its eco-friendly and other excellent characteristics are driving the market growth. Additionally, the usage of engineered fluids as dielectric coolants in electronics and semiconductors sector and as fire retardant in oil and gas and aerospace industries is driving the engineered fluids market growth in the forecast period.

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Key takeaways:

1. The Asia Pacific region dominates the engineered fluids market owing to the rising growth and increasing investments in the electrical and electronics industry. For instance, according to Invest India, domestic production of electronics hardware reached US$76 billion in 2019-20, with a CAGR of around 23%, and production linked incentives of INR 40,951 crores (US$5544 million) is funded for over a period of 5 years.
Rapidly rising demand for engineered fluids in the aerospace and defence industry for thermal management, has driven the growth of the engineered fluids market.

2. The increasing demand for engineered fluids in electrical and electronics sector for cooling purpose, has been a critical factor driving the growth of the engineered fluids market in the upcoming years.

3. However, the problems associated with the cracking of engineered fluids, can hinder the growth of the engineered fluids market.

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Segmental Analysis:

Engineered Fluids Market Segment Analysis – By Application : The lubricants segment held the largest share in the engineered fluids market in 2021. The fluorinated lubricants provide stable performance with low oxidation degradation, over a long time as compared to solvents and heat transfer fluids. They can be utilized as fire-retardant and can be used over a wide temperature range.

Engineered Fluids Market Segment Analysis – By Geography : The 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.

Engineered Fluids Market Segment Analysis – By End-Use Industry: The 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 oil and gas plant utilize engineered fluids in distillation applications, mixers, dryers, jacketed equipment, condensers heat exchangers, laboratory equipment, and in other applications.

Competitive landscape:

The top 5 players in the Engineered Fluids industry are:

1. 3M Company
2. Halocarbon Products Corporation
3. The Chemours Company
4. AGC Chemicals Americas
5. Halopolymer Kirovo-Chepetsk

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