Fluorinated Oil Market Size Forecast to Reach $1,520.55 Million by 2025

Fluorinated Oil Market size is forecast to reach $1,520.55 million by 2025, after growing at a CAGR of 8.5% during 2020-2025. Fluorinated oils are used in application which require thermal management. They have very rare and exceptional quality like they are chemically stable, nonflammable, nontoxic and are compatible with both high and low temperature. Its compatibility lies with high range of Elastomers, metals, and plastic. The growth in the market is due to the increase in the usage of fluorinated oils for various applications like semiconductors, vacuum pumps, bearings, chemical manufacturing and many others in sectors like, electric and electronics, oil and gas, pharmaceutical, nuclear, steel, food and beverages, and others.

Fluorinated Oil Market Segment Analysis – By Type

Heat Transfer Fluids held the largest share in the fluorinated oil market in 2019. During the manufacturing of semiconductor devices, heat transfer fluids serve as coolants in chillers, removing excess heat. During semiconductor device testing, containers of heat transfer fluids are cooled or heated to a desired temperature into which the devices are immersed to test their integrity. In addition, when testing the function of devices, heat transfer fluids are used to remove the heat the devices generate while being tested. Heat Transfer Fluids are also used to attach semiconductor devices to circuit boards via solder, which may be melted by the vapor of a heat transfer fluid heated to its boiling point. Heat Transfer Fluids may also serve to cool semiconductor devices and other devices or systems that generate high heat during operation.

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Fluorinated Oil Market Segment Analysis – By Application

Semiconductors held the largest share in the fluorinated oil market in 2019. The semiconductors use fluorinated oils as it provides electronic cooling, chamber cleaning, heating, connectors, process chamber, testing, wafer handling and many others. The increasing demand for new technologies like artificial intelligence and internet of things are driving the use of semiconductors. Many companies are spending lot in research and development in order to generate the new cutting-edge technologies and provide a smarter way. In 2019, recently the manufacturing sector has slowed as the risk for a downturn due to COVID-19 pandemic which led to temporary lockdown of all economic activities across globe.

Fluorinated Oil Market Segment Analysis – By End Use

Electrical and Electronics dominates the fluorinated oil market growing at a CAGR of 9%. The consumer market is increasing with an idea of sustainability and also to the growing demand to develop and manufacture new sustainable technologies. The electronics today have become compact, faster, sleeker and also price competitive. The worldwide cell phones utilization is required to keep driving customer hardware development, normally upheld by the low substitution pattern of two years. Cell phones fields likewise direct developments and next moves in the remainder of shopper hardware applications. The ascent of associated machines, IoT, proficient gadgets owes it to the portability gained by our cell phones. The pervasiveness of electronics will continue growing in medical, aerospace and defense, automotive and ever-present consumer electronics. In every area there is a higher demand for interconnection, connected devices, broader bandwidth, secure networking and storage.

Fluorinated Oil Market Segment Analysis – Geography

Asia Pacific region held the largest share in the fluorinated oil market in 2019 up to 41%, owing to the increasing electric and electronic industries in the region. According to JEITA there is strong growth expected for electronic components and devices. The production increased from $275 billion to $517 billion in the global growth area of communications equipment including smartphones; from $226.2 billion to $409 billion in the area of semiconductors; and from $591.3 billion to $921.8 billion in IT solution services. This in turn, positively impacted the Fluorinated Oil Market in the Asia Pacific region. Currently the Fluorinated Oil Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. It in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.

Fluorinated Oil Market Drivers

Rise in Demand for Sustainable Devices

Industrialization has led to the increase in demand for fluorinated oil in various industries for different purposes. The rise in demand for fluorinated oils in advanced electric and electronic industries. The rise in demand for devices with new influencing technologies id leading the way such as IOT (Internet of Things) and Artificial Intelligence in every field.

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Fluorinated Oil Market Challenges

The emergence of COVID-19 pandemic

The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable impact on global economic growth. Currently the Fluorinated Oil Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. In in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fluorinated Oil Market. In 2019 the Fluorinated Oil Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Fluorinated Oil Market are Daikin Industries, Solvay SA, The Chemours Company, Asahi Glass Company, Halo Carbons Products Corporation, 3M and Others.

Acquisitions/Technology Launches/ Product Launches

In October 2018, AGC launched global sales of “AMOLEA AS-300” which is a new type of environmentally friendly fluorinated solvent which will reduce Ozone Depletion Potential to almost 0 and global warming potential to be less than 1. It also provides superior safety and cleaning solvency.

Key Takeaways

Asia Pacific dominates the fluorinated oil market owing to rapid increase in Electric and Electronic sector due to large usage in the semiconductor devices.

The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.

The other key areas of focus include the various applications and end use industry in Fluorinated Oil Market and their specific segmented revenue.

Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of fluorinated oil related industries has been negatively affected, thus hampering the growth of the market.

Related Reports :

A. Elastomers Market

https://www.industryarc.com/Report/18133/elastomers-market.html

B. Heat Transfer Fluids Market

https://www.industryarc.com/Report/11650/heat-transfer-fluids-market.html

For more Chemicals and Materials related reports, please click here

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