What Has Been the Growth of the Engineered Fluids Market So Far?
The engineered fluids market has seen considerable growth due to a variety of factors.
• The market size of engineered fluids has seen robust growth in the past few years. It is predicted to expand from $1.35 billion in 2024 to $1.48 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%.
Factors such as improved security protocols, globalization and increased international travel, international standards and regulations, trends in biometric authentication, and efforts in counterfeit prevention have contributed to the growth in the historic period.
How Will the Engineered Fluids Market?
The engineered fluids market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of engineered fluids is projected to experience robust growth in the coming years, with the value expected to reach $2.05 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.4%.
The predicted growth during the forecast period can be linked to factors like e-government initiatives, the recovery of global travel, measures taken for cybersecurity, the integration of blockchain, and improved data privacy. The forecast period is also expected to witness certain trends such as the incorporation with mobile technologies, persistent technological advancements, the use of contactless and rfid technology, the digital transformation of identity documents, and the development of mobile applications.
Which Factors Are Boosting Growth In The Engineered Fluids Market?
The engineered fluids market is predicted to expand due to the growing demand for these fluids in the aerospace sector. The aerospace field encompasses design, production, testing, operation, and maintenance of all aircraft, spacecraft, and their respective systems and equipment. Engineered fluids play a crucial role in the industry, especially in maintaining aircraft thermal management and adjusting temperature controls in harsh environments. To illustrate, the Aerospace Industries Association, located in the US, reported that the American aerospace and defense industry accumulated sales of $952 billion in 2022, marking a 6.7% rise from 2021. The industry also produced an economic value of $418 billion, which is 1.65% of the US nominal GDP, a difference of nearly 7% compared to the previous year. Hence, the surge in demand for engineered fluids in the aerospace industry is driving the market.
The Engineered Fluids Market's Growth Is Boosted by Greater Consumer Electronics Demand
What Key Areas Define The Segmentation Of The Global Engineered Fluids Market?
The engineered fluids market covered in this report is segmented –
1) By Type: Heat Transfer Fluids, Lubricants, Solvents, Other Types
2) By Polymer Type: Polytetrafluoroethylene (PTFE), Polyvinyl Fluoride (PVF), Polyvinylidene Fluoride (PVDF), Other Polymer Types
3) By End-User: Electrical And Electronics, Automotive, Chemical Industries, Power Generation, Oil And Gas, Other End-User Industries
Subsegments:
1) By Heat Transfer Fluids: Synthetic Heat Transfer Fluids, Organic Heat Transfer Fluids, Inorganic Heat Transfer Fluids
2) By Lubricants: Mineral Oil-Based Lubricants, Synthetic Lubricants, Biodegradable Lubricants
3) By Solvents: Organic Solvents, Inorganic Solvents
4) By Other Types: Hydraulic Fluids, Refrigerants, Cleaning Fluids
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Which Emerging Market Trends Are Altering The Engineered Fluids Industry?
Top firms in the engineered fluids market are putting more emphasis on developing Synmerse DC, an immersion cooling fluid, to secure a dominant position in their industry. This fluid is crafted to dissipate heat powerfully by submerging electronic components into a thermally conductive liquid and thereby increases cooling efficiency in data centers and industrial uses. For instance, in October 2024, Synmerse DC, was launched by Perstorp a chemical company hailing from Sweden. The new immersive cooling fluid aligns with sustainability goals offering efficient cooling options, especially noting the increasing need for efficient thermal management in current technological surroundings.
Who Are the Key Players In The Engineered Fluids Market?
Major companies operating in the engineered fluids market report are:
• ExxonMobil Corporation
• Royal Dutch Shell
• TotalEnergies SE
• BP PLC
• BASF SE
• Dow Chemical Company
• Honeywell International Inc.
• Daikin Industries
• Shin-Etsu Chemical Co.Ltd.
• Solvay S.A.
• Arkema Group
• Wacker Chemie AG
• Huntsman Corporation
• The Chemours Company
• Lubrizol Corporation
• Kuraray Co. Ltd.
• Clariant AG
• Momentive Performance Materials Inc.
• Croda International PLC
• Hexion Inc.
• Houghton International Inc.
• Quaker Chemical Corporation
• Halocarbon Products Corporation
• Nye Lubricants Inc.
• AGC Chemicals Americas Inc.
• Interflon
• Engineered Fluids Inc.
• F2 Chemicals Ltd.
• Chemtool Incorporated
What Is The Most Dominant Region In The Engineered Fluids Market?
Asia-Pacific was the largest region in the engineered fluids market in 2024. The regions covered in the engineered fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
