Global Fluorinated Lubricants Market: Introduction
- Fluorinated lubricants are synthetically produced, fully fluorinated materials that are primarily used for lubrication or for coating applications. Demand for fluorinated lubricants is rising across different industries, as they are used in a wide range of machineries.
- Fluorinated lubricants are capable of performing under conditions in which conventional and other synthetic lubricants fail. They can be used at temperatures as low as −90°C, while several petroleum-based lubricants can operate at temperatures of up to −18°C only.
- Fluorinated lubricants are non-flammable, non-reactive, and longer lasting in comparison to their conventional counterparts. These properties enhance the performance of not only the lubricant but also the machinery or equipment in which they are used.
Key Drivers of Global Fluorinated Lubricants Market
- Rapid industrialization is expected to drive the global fluorinated lubricants market during the forecast period. Industrialization is growing at a rapid pace, especially in developing economies such as China, India, and Brazil. Favorable business terms and initiatives by governments to attract foreign investors to boost the economy of their countries is a key factor driving the industrialization, especially in developing countries. Industrialization would result in installation of new equipment and machineries, which would require lubricants for effective and efficient running. This would, in turn, create high demand for fluorinated lubricants in the near future.
- Advantages offered by fluorinated lubricants over the conventional and other synthetic lubricants is another key driver of the global fluorinated lubricants market. Fluorinated lubricants provide steady performance over a long period of time with a low rate of evaporation or oxidation degradation. Moreover, they can be used over a wider range of operating temperatures in comparison to their conventional counterparts. They are fire resistant. Fluorinated lubricants are non-toxic, safe, and capable of being used in environments that involve exposure to solvent or chemical splashes. They can also be used for rubber and plastic lubrication.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Key Developments in Global Fluorinated Lubricants Market
- In May 2019, Daikin Industries, Ltd. announced to have passed a resolution to establish a new subsidiary in China for the manufacture and sale of fluorochemical products in the country. The subsidiary would strengthen fluorochemical product manufacturing and sales activities of the company in the country. The company took this step in order to meet the demand from the semiconductor & battery materials sector in China, which is expected to substantially expand in medium and long terms.
- In March 2018, The Chemours Company announced global price hike of around 10% for its products including Krytox lubricants, Nafion Membranes & Dispersions, Viton FKM Fluoroelastomer products, Capstone repellents & surfactants, Teflon PTFE and Melts, and Teflon coatings. The company said that the price hike would enable it to continue investments and provide a high level of product quality, service, and innovations in order to meet customer requirements.
North America Expected to Dominate Global Fluorinated Lubricants Market
- Based on region, the global fluorinated lubricants market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America held a dominant share of the global fluorinated lubricants market in 2019. Moreover, the region is expected to maintain its dominance during the forecast period. This is primarily attributable to increasing investments in the oil & gas industry and high demand from the automotive sector in the region. The U.S. dominated the North America fluorinated lubricants market in 2019.
- Europe and Asia Pacific are anticipated to follow North America in the global fluorinated lubricants market in the next few years. However, the Asia Pacific market is likely to expand at a rapid pace during the forecast period. This can be ascribed to increasing demand for fluorinated lubricants from developing economies, especially China and India.
- Middle East & Africa and Latin America accounted for marginal shares of the global fluorinated lubricants market in 2019
Expanding operations in future? To get the perfect launch ask for a custom report
Key Players Operating in Global Fluorinated Lubricants Market
The global fluorinated lubricants market witnesses presence of a large number of international and regional players. Major players operating in the global fluorinated lubricants market are:
- DAIKIN INDUSTRIES, Ltd.
- The Chemours Company
- SUMICO LUBRICANT CO., LTD.
Global Fluorinated Lubricants Market: Research Scope
Global Fluorinated Lubricants Market, by Type
Global Fluorinated Lubricants Market, by End-user Industry
- Oil & Gas
- Food & Beverages
Global Fluorinated Lubricants Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.