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Key Insights of Future Prospects of Non-Flammable Hydraulic Fluids Market: During 2018-2028

06-11-2018 02:35 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Key Insights of Future Prospects of Non-Flammable Hydraulic

Global Non-Flammable Hydraulic Fluids Market: Introduction

Damage to hydraulic equipment is generally caused due to fire, which is often caused due to the pinhole leaks or breaks in hydraulic hoses. A hydraulic fire moves quickly and also burns intensely and is not feasible to control it with a fire extinguisher. Therefore to safeguard of assets with reduced losses resulting from fire break out is very important for an industrial enterprise. The unexpected down time, equipment damage, and uninsured costs related with hazardous materials and clean up can reduces profits. An optimal way for the reduction of these losses from occurring is just to replace the equipment's flammable Fluids with non-flammable hydraulic Fluids.

Mineral Fluids are highly flammable and often are a serious source of fire hazards in high-temperature environments and applications close to open flames or heated metal parts. The risk is further increased by the rapid and aggressive Ignition rate of these Fluids. Today mineral oil dangers present industries with very real major risks including disruption in operation, plant shut down, and threats to worker safety.

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Increasing Safety Concerns for Humans and Machineries

Rising concern about safety of men and machines in factories and manufacturing facilities is driving the demand for fire-resistant hydraulic fluids. These fluids help in safeguarding the equipment and avoiding breakdown of due to overheating of fluids and equipment. Thus, the non-flammable properties of the fluids has been a critical factor for the growth of the overall market in the forecast period.

Significant demand from Aviation Industry

Another area of application where fire resistant hydraulic fluids are in high demand is the aviation and aerospace industry. Aircrafts are complex systems and are highly dependent on hydraulic systems for vital functions such as maneuvering and landing. Owing to safety concerns, almost every material and fluid used in an aircraft is therefore fire-resistant, if not fireproof. Besides aviation, the other fields where fire hazard possibilities are critical are mining, especially underground mining; offshore marine operations; and firefighting. All these segments, for their safety quotient, are giving rise to the demand for fire-resistant hydraulic fluids.

Global Non-Flammable Hydraulic Fluids Market: Segmentation

Non-Flammable Hydraulic Fluids are specially formulated fluids that are more difficult to burn and also do not propagates flame from an ignition source. These fluids are not fire proof fluids these can also ignite at specific temperature and conditions. Global non-flammable hydraulic fluids market can be segmented on the basis of type, by application and by region

On the basis of type, global non-flammable hydraulic fluids market can be segmented as

HFA Type – Oil in Water Emulsions
HFB Type – Water in Oil Emulsions
HFC Type - Water Glycol Fluids
HFD Type - Anhydrous Synthetic Fluids

On the basis of application, global non-flammable hydraulic fluids market can be segmented as

Foundry and Smelting
Aviation
Marine
Mining
Others

On the basis of regions, global non-flammable hydraulic fluids market can be segmented as

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
South East Asia and Pacific (India, ASEAN, Australia & New Zealand)
China
Japan
Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

Global Non-Flammable Hydraulic Fluids Market: Regional Outlook

North America and Europe are expected to be the dominating markets for non-flammable hydraulic fluids, led by safety concerns in many industries such as steel production, mining, marine, and chemical exiting in these regions. Asia Pacific is anticipated to be another prominent market for the non-flammable hydraulic fluids, owing to the presence of huge number of steel mills, slag management, foundries, and machining plants in this region. Developed nations such as the U.S., Germany, France, Japan, and the U.K. also possess a significant demand for non-flammable hydraulic fluids. Furthermore, demand for non-flammable hydraulic fluids in industries such as marine, manufacturing, mining, chemical, and aviation has been growing at a rapid pace in developing countries such as China, Brazil, India, South Africa, and those in Southeast Asia.

Global Non-Flammable Hydraulic Fluids Market: Market Participants

Some of the manufacturers engaged in the manufacturing of non-flammable hydraulic fluids includes Exxon Mobil Corporation, BASF SE, Quaker Chemical Corporation, Southwestern Petroleum Corporation, Royal Dutch Shell, The Dow Chemical Company, Castrol, Houghton International, Eastman Chemical Company, Total, Chevron Corporation, Idemitsu Kosan, etc.

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Opportunities for Market Participants

Research and development, product trial, market approach, effective utilization of government initiatives, etc. will prove to be effective measures for enhancing profitability in Non-Flammable Hydraulic Fluids business. Due to the efforts of global thought leaders, environmentalists and various stakeholders working to promote the substitution of conventional fluids with Non-Flammable Hydraulic Fluids, significant opportunities lie ahead for market participants to build the marketability of their product.

Brief Approach to Research

FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, product type and end uses of the product segments covered in the study is followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

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