Fire Resistant Hydraulic Fluid Market Estimated to Reach Nearly US$ 1.7 Bn by 2026; Increase in Concerns about Worker Safety Likely to Drive Market Growth

Fire resistant hydraulic fluid is a type of hydraulic fluid with high fire resistant property and high combustion temperature vis-à-vis mineral oils. Certain applications such as die casting or hydraulic presses which are generally performed near an ignition source for petroleum-based hydraulic fluids such as open flames or hot surfaces can lead to a potential disaster. In order to avoid such situations, petroleum-based hydraulic fluids are replaced with fire resistant hydraulic fluids due to their inherently high fire resistant property. Several factors are considered while selecting a fire resistant hydraulic fluid. These include cost economics, overall system performance, performance characteristics, and stability of the fluid.

Increase in concerns about worker safety and rise in awareness about industrial fires are expected to drive the fire resistant hydraulic fluid market. These fluids can minimize costly and deadly industrial fire accidents, which are usually caused by mineral oils catching fire from an ignition source. Rapid industrialization and rise in demand for these fluids in the aviation industry are also key drivers of the fire resistant hydraulic fluid market. Increase in industrialization, especially in developing countries, is projected to boost the fire resistant hydraulic fluid market owing to the rise in demand for these fluids in the metal processing industry. Growth in the aviation industry is anticipated to propel the demand for these fluids during the forecast period. However, higher prices of fire resistant hydraulic fluids is likely to hamper the market.

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This report analyzes and forecasts the market for fire resistant hydraulic fluid at the global and regional level. The market has been forecast based on volume (kilo tons) and value (US$ Mn) from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global fire resistant hydraulic fluid market. It also covers impact of these drivers and restraints on demand for fire resistant hydraulic fluid during the forecast period. The report also highlights opportunities in the fire resistant hydraulic fluid market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global fire resistant hydraulic fluid market. Porter’s Five Forces model for the fire resistant hydraulic fluid market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein product type and application are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the global fire resistant hydraulic fluid market by segmenting it in terms of product type and application. In terms of product type, the fire resistant hydraulic fluid market can be classified into water-based (oil-in-water emulsions (ISO HFA), water-in-oil emulsions (ISO HFB), and water glycol fluids (ISO HFC)) and anhydrous-based (phosphate esters (ISO HFDR), PAG, and polyol esters). In terms of application, the market can be divided into metal processing, aviation, marine, mining, and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for fire resistant hydraulic fluid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides the actual market size of fire resistant hydraulic fluid for 2017 and estimated market size for 2018 with forecast for the next eight years. The global market for fire resistant hydraulic fluid has been provided in terms of revenue. Market volume has been defined in kilo tons, while revenue has been provided in US$ Mn. Market numbers have been estimated based on product type and application of fire resistant hydraulic fluid. Market size has been provided in terms of global, regional, and country level markets.

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The report comprises profiles of major companies operating in the global fire resistant hydraulic fluid market. Key players are Exxon Mobil Corporation, BASF SE, Castrol Limited, American Chemical Technologies, Inc., The Dow Chemical Company, Quaker Chemical Corporation, Southwestern Petroleum Corporation, Eastman Chemical Company, Total, Houghton International Inc., SINOPEC, MORESCO Corporation, and Idemitsu. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, regional presence, and recent developments.

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