Engineered Fluids Market size worth $ 2,038.02 Million, Globally, by 2028 at 8.98% CAGR: Verified Market Research®
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Global Engineered Fluids Market Overview
Over the previous period, almost every industry in the world has suffered a setback due to covid-19. It is ascribed to severe disruptions in their respective manufacturing and supply-chain operations due to various precautionary lockdowns and other limitations imposed by governments worldwide. Furthermore, consumer demand has decreased as people are now more focused on the removal of non-essential expenses from their budgets since the general economic situation of most people is impacted by the outbreak. Over the forecast period, the factors are likely to weigh on the global Engineered Engineered Fluids Market's revenue trajectory. The global Engineered Fluids Market may revive as various governing agencies start to lift these enforced lockdowns.
Superior properties of the engineered fluid and environment-friendly properties of engineered fluids are the factors that help the expansion of the market. The market is driven by the factors like amplified thermal management issues in the industries of electronics & semiconductors, automotive, and aerospace. These properties enable fluorinated to perform below extreme conditions such as high pressure, oxidation-prone environment, and high temperature operating conditions. However, the High Cost of Technology Development and Manufacturing of Engineered Fluids is a restraint factor for this market.
The increasing application of engineered fluids in several end-use industries is one of the factors anticipated to boost the global Engineered Fluids Market. It is mainly due to the exceptional properties of these fluids. Some of the prominent properties of engineered fluids contain chemical stability, non-toxicity, and excellent compatibility with a wide range of metals, plastics, and elastomers. Engineered fluids are used to reduce friction between machine parts. Some of the prime applications of engineered fluids are electronics cooling, heating chamber, cleaning, and wafer handling. The numerous applications of engineered fluids will drive the global Engineered Fluids Market. Apart from this, engineered fluids help in reducing global warming potential that does not produce an adverse impact on the environment. This will boost the global Engineered Fluids Market shortly.
Key Developments
Key Players
The major players in the market are Solvay SA, The Chemours Company, Halocarbon Products Corporation, Halopolymer, F2 Chemicals, Lubrilog Lubrication Engineering, IKV Tribology, Nye lubricants, Interflon, and Asahi Glass Company.
Verified Market Research has segmented the Global Engineered Fluids Market On the basis of Type, End-User, and Geography.
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