Press release
Fire Resistant Hydraulic Fluid Market Analysis and Forecast to 2023: Royal Dutch Shell, Dow Chemical Company, BASF, Castrol India, Southwestern Petroleum Corporation, ExxonMobil and Quaker Chemical Corporation
The global Fire Resistant Hydraulic Fluids Market was worth USD 3.46 billion in 2014 and is expected to reach approximately USD 4.39 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 2.69% during the forecast period. Rising issues regarding safety of workers and machines in manufacturing facilities and factories is driving the interest for fire-resistant hydraulic fluids. These fluids assist in protecting the hardware and maintaining a strategic distance from breakdown of because of overheating of equipment and fluids. Aircrafts are complicated systems and are exceedingly dependent upon hydraulic systems for key capacities, for example, landing and maneuvering. Attributable to security concerns, every material and fluid utilized as a part of an air ship is thusly fire-resistant, if not flame resistant.
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Type outlook and Trend Analysis
In terms of type the fire resistant hydraulic fluids market can be segregated into water-based and anhydrous. Among these water-based hydraulic systems traditionally have been used in long wall mining applications and in hot-metal areas of steel mills. The significant advantage of water systems in these industries is their fire resistance.
Application Outlook and Trend Analysis
On the basis of application the market is segmented into Foundry and smelting (metal making), Aviation, Marine and Mining. These fire resistant fluids are recommended to be used where metals are smelted or hot worked such as Aluminum die casting machines, Tilting systems of cast Iron melting furnace and Aviation. Various grades and types of these fluids are used depending upon the application.
Regional Outlook and Trend Analysis
North America and Europe are the leading markets for fire resistant hydraulic fluids, drove by safety worries in ventures, for example, chemical exiting, marine, steel production, and mining in these districts. Asia Pacific is another major market for the fire resistant hydraulic fluids, inferable from the existence of substantial number of steel factories, foundries and machining plants working in this region. Moreover, requirement for fire resistant hydraulic fluids in enterprises, for example, aviation, manufacturing, marine, chemical, and mining has been ascending at a fast pace in developing nations, for example, India, China, South Africa, Brazil, and those in Southeast Asia.
Competitive Insights
The leading layers in the market are Royal Dutch Shell, Dow Chemical Company, BASF, Castrol India, Southwestern Petroleum Corporation, ExxonMobil and Quaker Chemical Corporation. These organizations possess a major share of the market. Thus, the fire resistant hydraulic fluid market witnesses intense competition.
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The Fire-Resistant Hydraulic Fluids Market is segmented as follows-
By Type:
Water-based
oil-in-water emulsions (ISO HFA)
water-in-oil (ISO HFB)
water polymer solution (ISO HFC)
Anhydrous
phosphate esters (ISO HFDR)
PAG and/or Polyol esters (ISO HDFU)
By Application:
Foundry and smelting (metal making
Aviation
Marine
Mining
Other Applications
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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