Report forecast the global functional fluids market to grow
at a CAGR of 4.41% during the period 2016-2020.
Functional fluids, such as lubricants, transmission fluids,
hydraulic fluids, heat transfer fluids, and metalworking fluids, are prepared
from base stocks, which are hydrocarbons, synthetic or biological in origin.
Functional fluids offer high energy efficiency, productivity, sustainability,
and the smooth running of different end-user businesses. The demand for
functional fluids is highly dependent on end-user industries, such as
automotive, transportation, and industrial machinery.
The report covers the present scenario and the growth
prospects of the global functional fluids market for 2016-2020. To calculate
the market size, the report considers the revenue generated from the sales of
functional fluids in different geographic regions.
The market is divided into the following segments based
on geography:
- APAC
- EMEA
- North America
- ROW
According to the report, synthetic functional fluids gaining
prominence will be a key driver for market growth. Innovation is an important
factor for sustainability and growth of the functional fluids market. With
regards to the changes in the application industry and regulatory developments,
innovation is going to be a major factor accountable for market growth.
Synthetic metal removal fluids have recently gained a lot of prominences, and
they deliver benefits of excellent visibility during metal working operations.
Keeping in view the changes in the different application industries and
regulatory developments, the introduction and development of advanced products
are acting as major factors for market growth.
Further, the report states that environment, health, and
safety issues will be a challenge for the market. Environmental issues are
major concerns, especially in the Americas and Europe, as end-users try to
increase the tank life of the fluids through better house-keeping and
recycling, as well as by using fluids having a longer service life. In many
regions of the world, especially in Europe, there is a general trend toward the
use of hydrocracked oil type functional fluids. The major issue is the avoidance
of potentially carcinogenic polynuclear aromatics. Hydrocracked functional
fluids are also less vulnerable to misting and evaporation. In addition,
hydrocracked oils are cheaper than other available options such as synthetic
base stocks that are used mainly in bio-lubrication.
Global Functional Fluids Market 2016-2020, has been
prepared based on an in-depth market analysis with inputs from industry
experts. The report covers the market landscape and its growth prospects over
the coming years. The report also includes a discussion of the key vendors
operating in this market.
key players in the global functional fluids market: BASF, BP, Chevron Oronite, ExxonMobil, Shell,
and TOTAL.
Market driver
- Recovery in automobile production is driving functional fluids market in automobile sector
- For a full, detailed list, view our report
Market challenge
- Environment, health, and safety issues
- For a full, detailed list, view our report
Market trend
- Demand for synthetic and semisynthetic metalworking
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 67 pages and 39 Exhibit “Global
Functional Fluids Market 2016 - 2020” report covers Executive summary, Scope of the
report, Market research methodology, Introduction, Market landscape, Market
segmentation by product type, Market segmentation by applications, Global
functional fluids market by geography, Market drivers, Impact of drivers,
Market challenges, Impact of drivers and challenges, Market trends, Vendor
landscape, Key vendor analysis, Appendix.
For
more information Visit at: http://mrr.cm/Jvs
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