Automotive Brake Fluid Market Growth, Industry Size-Share, Developments, Trends, Challenges, Forecast, Analysis by 2030 | Beijing Haidian Huiyuan Synthetic Agents

The Automotive Brake Fluid Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Automotive brake fluid is a hydraulic fluid used in automotive brake and clutch systems. It transfers force when pressing the brake pedal and transmitting it to the calipers and wheel brakes. Brake fluid plays a key role in ensuring safe, smooth, and effective braking.

Market Dynamics:

Growing vehicle production across the globe is expected to drive the growth of the automotive brake fluid market during the forecast period. As per the data published by the International Organization of Motor Vehicle Manufacturers, global vehicle production increased from around 92 million units in 2017 to 95 million units in 2019. Rising disposable income and increasing spending on vehicles in developing countries are further supporting the sales of new vehicles. This in turn is fueling the demand for automotive brake fluids. Additionally, frequent replacement and top-ups of brake fluid due to brake pad wear are positively impacting the market growth.

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Top Companies Covered In This Report:

★ Beijing Haidian Huiyuan Synthetic Agents
★ Bosch
★ Copton
★ Beijing Haidian Huiyuan Synthetic Agents
★ Cnpc
★ Castrol (BP)
★ Caltex
★ Exxon Mobil
★ Delian Group
★ Fuchs
★ Jilin Hairun
★ Irico Group
★ Original
★ Laike
★ Shenzhen Pingchi Industry Co
★ Shell
★ Sinopec
★ Total
★ Teec
★ Zhuhai Gaida Shiye
★ Tianjin Xuqi Gongmao along with others.

Desclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Product Type:

★ Castor oil-based (pre-DOT, DOT 2)
★ Glycol-based (DOT 3, 4, 5.1)
★ Silicone-based (DOT 5)

By Fluid Types:

★ Non-petroleum base
★ Petroleum (mineral) base

Key Region/Countries are Classified as Follows:

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ South America (Brazil, Argentina, Colombia, etc.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Market Driver:

1. Increasing Demand for Vehicles with Better Braking Performance

The automotive brake fluid market is being driven by the increasing demand for vehicles with better braking performance. As the number of vehicles on the road is continuously increasing, braking performance has become a critical factor in vehicle safety. Manufacturers are focusing on developing advanced braking systems that deliver improved braking power, better control, and reduced braking distance. This is increasing the adoption of high-performance brake fluids that can withstand high temperatures without breaking down and ensuring smooth and reliable braking even in extreme driving conditions. The rising demand for luxury and high-performance vehicles is also fueling the need for superior quality brake fluids.

2. Stringent Government Regulations Regarding Vehicle Safety

Governments across major automotive markets are implementing stringent regulations regarding vehicle safety in order to reduce road accidents. They have set limits on maximum braking distance and minimum braking efficiency that must be met by all new vehicle models. This is forcing automakers to optimize their braking systems and switch to advanced brake fluids that can deliver the required braking performance consistently. Regulatory bodies like FMVSS and ECE regularly update testing protocols and standards regarding braking systems. Manufacturers have to comply with these evolving norms, which is augmenting the demand for innovative brake fluids. The implementation of automated and autonomous driving technologies also necessitates reliable braking systems with high-performance fluids.

Market Restrain: Availability of Substitute Products

The availability of substitute products can pose a challenge to the growth of the automotive brake fluid market. Silicone and glycol ethers are used as substitute fluids in some vehicles, especially in less demanding applications. They are less expensive than DOT 3, DOT 4, and DOT 5.1 brake fluids. While these alternative fluids may not deliver the same high-temperature performance and corrosion protection, cost-conscious automakers sometimes use them for low-end models. The widespread adoption of electric vehicles also reduces the need for conventional braking systems powered by brake fluids. As EVs become more common, it can negatively impact the demand for automotive brake fluids. However, the performance advantages of specialty brake fluids ensure their use in most conventional vehicles.

Market Opportunity: Demand in Developing Economies

Developing economies present a major growth opportunity for players in the automotive brake fluid market. With rising incomes and urbanization levels, the number of vehicles on roads is increasing significantly in countries such as India, Brazil, Indonesia, and others. At the same time, these markets still have scope for development in terms of road infrastructure, safety regulations, and vehicle quality. This enhances the need for high-performance brake fluids that can ensure reliable braking under tough operating conditions. Local manufacturing of brake fluids can also help companies to cater cost-effectively to price-sensitive customers. Penetration into new emerging markets allows vendors to diversify their presence and tap the rising vehicle parc in these fast-growing economies.

Market Trend: Advancements in Brake Fluid Formulations

There is a notable trend of ongoing advancements in brake fluid formulations to achieve superior thermal stability, corrosion protection, friction control, and moisture resistance. Companies are focusing on developing synthetic and semi-synthetic fluids that offer extended service life compared to mineral-based fluids. Novel additive packages and usage of advanced chemistries help address specific performance attributes. Fluids suitable for usage in hybrid/electric vehicles are also being introduced. Advancements related to biodegradability without compromising key properties as well as efforts on reducing VOC emissions during production are notable trends. Manufacturers emphasize on specialized fluids for niche ATV, motorcycle, aircraft and other applications as performance requirements diversify across industries and applications.

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Key Questions Answered in This Report on Automotive Brake Fluid Market

• How much revenue will the global Automotive Brake Fluid Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall global market?

• What are the indicators expected to drive the global Automotive Brake Fluid Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Market to expand their geographical presence?

• What are the major advancements witnessed in the global Automotive Brake Fluid Market?

• This report answers these questions and more about the global Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Automotive Brake Fluid Market Insights

3.1 Market fragmentation
3.2 Market landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Automotive Brake Fluid Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.