Engineered Fluids Market Report 2024: Strategies And Recent Developments | ExxonMobil Corporation, Royal Dutch Shell, TotalEnergies SE, BP plc, BASF SE, Dow Chemical Company, Honeywell International Inc., Daikin Industries, Shin-Etsu Chemical Co.Ltd., Sol

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2109

The Business Research Company offers in-depth market insights through Engineered Fluids Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The engineered fluids market size has grown rapidly in recent years. It will grow from $1.23 billion in 2023 to $1.35 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to enhanced security measures, globalization and cross-border travel, international standards and regulations, biometric authentication trends, counterfeit deterrence.

The engineered fluids market size is expected to see strong growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to e-government initiatives, global travel recovery, cybersecurity measures, blockchain integration, enhanced data privacy. Major trends in the forecast period include integration with mobile technologies, continued technological advancement, contactless and rfid technology, digitalization of identity document, integration of mobile applications.

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Market Segmentation:
The main types of engineered fluids are heat transfer fluids, lubricants, solvents, and others. A heat transfer fluid refers to a specialized liquid or gas that is used to transfer heat from one location or system to another. The various polymer types include polytetrafluoroethylene, polyvinyl fluoride, polyvinylidene fluoride, and others. These are used by various end-users such as electrical and electronics, automotive, chemical industries, power generation, oil and gas, and others.

Major Driver - The Soaring Demand For Engineered Fluids In Aerospace Industry Growth
Increasing demand for engineered fluids in the aerospace industry is expected to propel the growth of the engineered fluids market going forward. The aerospace industry refers to the sector of the economy that is involved in the design, development, manufacturing, testing, operation, and maintenance of aircraft, spacecraft, and related systems and equipment. Engineered fluids are used in the aerospace industry for aircraft thermal management, ensuring precise control and temperature regulation in extreme conditions. For instance, in September 2023, according to the Aerospace Industries Association, a US-based trade association, the American aerospace and defense industry generated $952 billion in total sales in 2022, a 6.7% increase from 2021. Overall, the industry generated $418 billion in economic value, which amounts to 1.65% of the total nominal GDP of the United States, which is almost 7% higher than the previous year. Therefore, increasing demand for engineered fluids in the aerospace industry drives the engineered fluids market.

Competitive Landscape:
Major companies operating in the engineered fluids market report are ExxonMobil Corporation, Royal Dutch Shell, TotalEnergies SE, BP plc, BASF SE, Dow Chemical Company, Honeywell International Inc., Daikin Industries, Shin-Etsu Chemical Co.Ltd., Solvay S.A., Arkema Group, Wacker Chemie AG, Huntsman Corporation, The Chemours Company, Lubrizol Corporation, Kuraray Co. Ltd., Clariant AG, Momentive Performance Materials Inc., Croda International Plc, Hexion Inc., Houghton International Inc., Quaker Chemical Corporation, Halocarbon Products Corporation, Nye Lubricants Inc., AGC Chemicals Americas Inc., Interflon, Engineered Fluids Inc., F2 Chemicals Ltd., Chemtool Incorporated

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Top Trend - Increasing Focus On Introducing Advanced Thermal Fluids To Gain A Competitive Edge
Major companies operating in the engineered fluids market are increasing their focus on introducing advanced thermal fluids to gain a competitive edge in the market. Advanced thermal fluids refer to specialized substances designed to excel in the efficient transfer and management of heat in electric bikes. For instance, in June 2021, Castrol Limited, a UK-based oil company, launched a range of advanced e-fluids called Castrol ON. The range includes e-greases, e-thermal fluids, and e-transmission fluids. These e-fluids are specifically designed to improve the performance of electric vehicles compared to water-glycol indirect coolants. This advanced fluid is crucial to achieving consumer expectations for electric vehicles and ensuring reliable, safe, and efficient operation.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Engineered Fluids Market Characteristics
3. Engineered Fluids Market Trends And Strategies
4. Engineered Fluids Market - Macro Economic Scenario
5. Engineered Fluids Market Size And Growth
…..
27. Engineered Fluids Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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