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Hydraulic Fluids and Process Oil Market Globally Expected to Drive Growth through 2025
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Global Hydraulic Fluids and Process Oil Market: Drivers and Restraints
The global hydraulic fluids and process oil market is characterized by both economic and environmental factors. The growing industrial production and automotive sector tends to increase demand for hydraulic fluids and process oil, rigid emission standards has led to replacement of traditional material with synthetic lubricants, to increase the fuel efficiency of vehicles this acts as driver for hydraulic fluids market.
On the other hand volatility of crude oil prices act as a restraint to the market.
Global Hydraulic Fluids and Process Oil Market: Segmentation
The hydraulic fluids and process oils market is segmented as follows: by type, by application
On the basis of type the hydraulic fluids market is categorized as:
Mineral Based Hydraulic Fluids
HH (mineral oil without additives)
HL (mineral oils with oxidation and rust inhibitors)
HM (improved anti-wear additives)
Fire Resistant Hydraulic Fluids
HFA (Oil in Water Emulsions)
HFB (Water in Oil Emulsions)
HFC (Water Glycol Fluids)
HFD (Anhydrous Synthetic Fluids)
On the basis of type the process oil market is categorized as:
Paraffinic Oils
Naphthenic Oils
Aromatic Oils
Veg & Bio Oils
On the basis of application the hydraulic fluids and process oil market is segmented into
Automotive
Industrial Machinery
Marine
Medical & Healthcare
Chemical & Polymers
Others (textile, personal care, etc.)
Global Hydraulic Fluids and Process Oil Market: Region wise outlook
The global hydraulic fluids market is segmented into regions including North America, Latin America, Asia Pacific, Europe and Middle East & Africa. Asia Pacific is the dominating region in the global hydraulic and process oil market, followed by Europe. North America is among major market with high Per-capita consumption of lubricants within the region. The production and demand for the hydraulic fluids and process oils is expected to rise in the near future, however some regions are expected to encounter slow growth. The Middle East and Africa market is also expected to encounter significant growth owing to increasing industrial sector.
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Global Hydraulic Fluids and Process Oil Market: Key players
Some of the major players in the hydraulic fluids and process oil market are
Royal Dutch Shell Plc.
British Petroleum Plc.
Exxon Mobil Corp.
Process Oil Inc.
Renkert Oil, LLC
Schaeffer Manufacturing Co.
LUKOIL Lubricants Company
Castrol Limited
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