The global market size of engineered fluids (fluorinated fluids) is projected to grow from USD 854 million in 2018 to USD 1,304 million by 2023, at a compound annual growth rate (CAGR) of 8.8% during the forecast period. The major driving factors for the market are the chemical inertness, low & high-temperature stability, non-flammability, and low toxicity properties of engineered fluids (fluorinated fluids). These properties enable engineered fluids (fluorinated fluids) to perform under extreme conditions such as high pressure, oxidation-prone environment, and high temperature operating conditions.

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The leading players in the engineered fluids (fluorinated fluids) market are Daikin Industries (Japan), Solvay SA (Belgium), The Chemours Company (US), 3M (US), Asahi Glass Company (Japan), Halocarbon Products Corporation (US), Halopolymer (Russia), F2 Chemicals (UK), IKV Tribology (UK), Lubrilog Lubrication Engineering (France), Nye lubricants (US), and Interflon (Netherlands). These players adopted expansions, acquisitions, and agreements as their key growth strategies in 2017, which helped them increase their capacities and cater to the widening customer base.

Solvay has acquired Energain Technology from DuPont, thereby, expanding its product portfolio catering to the battery production industry. This acquisition will boost Solvay’s technological road map in the battery production industry. This will, in turn, help the company cater to the electronics & semiconductor industry and work on several new upcoming technologies in the industry. The company markets its fluorinated products under the brands, Fomblin and Galden fluids that are used in heat transfer applications in industries such as electrical & electronics and semiconductor industries. Some of the features of the products include high thermal stability, good dielectric properties, excellent chemical inertness, and wide operating temperature range. They are used in industries such as textile, aerospace, military, and industrial.

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Electronics & semiconductor is projected to be the fastest-growing end-use industry during the forecast period.

The semiconductor industry is expected to increase its revenue mainly by diversification into new technologies such as the Internet of things (IoT) and artificial intelligence (AI). A lot of companies are also investing in R&D to develop cutting edge technologies. Engineered fluids (fluorinated fluids) are used in applications such as electronics cooling, heating, testing, chamber cleaning, connectors, process chamber, and wafer handling.These applications of engineered fluids (fluorinated fluids) are expected to drive the market.

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