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“Increase in use of functional fluids in various applications”
The functional fluids market size is expected to reach USD 42.2 billion by 2020, registering a CAGR of 4.5% between 2015 and 2020. The increasing use of functional fluids as compared to conventional mineral oil or synthetic lubricants in urban areas in Africa and Asia-Pacific is a driving factor for the global functional fluids market. These fluids can perform in extreme conditions and difficult environmental situations and thus have a good viscosity even at extreme temperature. Moreover, they are more stable at high and low temperatures as compared to mineral oils and synthetic lubricants.

Industrial application to dominate the market
The industrial application dominated the global functional fluids market in 2014. It is projected to register the highest growth rate between 2015 and 2020. The rapid growth of the automotive industry, especially, in the Asia-Pacific is driving the growth of the industrial application of the functional fluids market.

Asia-Pacific projected to be fastest-growing market during forecast period
Asia-Pacific is projected to be the largest and fastest-growing market for functional fluids globally. The increase in disposable income of people and industrial growth in the Asia-Pacific region led to the increasing demand of high-performance functional fluids. Moreover, there has been a consistent rise in number of vehicles in the region over the past decade, which is ultimately fueling the demand for functional fluids in the region.

Break-up of profile of primary interviewees for the report

- By Company Type – Tier 1–24%, Tier 2–47%, and Tier 3–29%
- By Designation – C Level– 38%, Director Level–31%, Others–31%
- By Region – North America–31%, Europe–44%, Asia-Pacific–19%, and RoW–6%


Some of the major companies profiled in this report are ExxonMobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), BP Plc (U.K.) Fuchs Petrolub SE (Germany), Chevron Corporation (U.S.), Idemitsu Kosan Co. Ltd (Japan), The Dow Chemical Company (U.S.), BASF SE (Germany), and Petroliam Nasional Berhad (Malaysia), and others.

Reasons to buy the report
While making strategic decisions in business, timely and useful information is required. This report fulfills the requirements of various stakeholders, including material suppliers, product manufacturers, investors, and executives. Some of the salient features of this report are:

- Porter’s Five Forces Analysis
- Value Chain Analysis
- Market Segmentation (Type, Application, and Region), by Volume and Value
- Competitor Analysis
- Detailed Information on Strategic Developments in the Industry

Table Of Contents

Functional Fluids Market by Type and by Application - Global Trends and Forecast to 2020
TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 SCOPE OF THE STUDY 14
1.3.1 MARKETS COVERED 15
1.3.2 YEARS CONSIDERED IN THE REPORT 16
1.4 CURRENCY and PRICING 16
1.5 PACKAGE SIZE 17
1.6 LIMITATIONS 17
1.7 STAKE HOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key Data From Secondary Sources 20
2.1.2 KEY DATA FROM PRIMARY SOURCES 21
2.1.2.1 Key industry insights 22
2.1.2.2 Breakdown of primaries 22
2.2 MARKET SIZE ESTIMATION 23
2.2.1 BOTTOM-UP APPROACH 23
2.2.2 TOP-DOWN APPROACH 24
2.3 MARKET BREAKDOWN and DATA TRIANGULATION 25
2.4 RESEARCH ASSUMPTIONS 26
2.4.1 ASSUMPTIONS 26
3 EXECUTIVE SUMMARY 27
4 PREMIUM INSIGHTS 32
4.1 SIGNIFICANT OPPORTUNITIES FOR FUNCTIONAL FLUIDS 32
4.2 FUNCTIONAL FLUIDS MARKET: MAJOR REGIONS 33
4.3 FUNCTIONAL FLUIDS MARKET IN ASIA-PACIFIC 34
4.4 FUNCTIONAL FLUIDS MARKET ATTRACTIVENESS 35
4.5 FUNCTIONAL FLUIDS MARKET, BY APPLICATION 36
4.6 FUNCTIONAL FLUIDS MARKET: DEVELOPED VS. DEVELOPING NATIONS 37
4.7 LIFECYCLE ANALYSIS, BY REGION, 2014 38

5 MARKET OVERVIEW 39
5.1 INTRODUCTION 40
5.2 MARKET SEGMENTATION 40
5.3 MARKET DYNAMICS 42
5.3.1 DRIVERS 42
5.3.1.1 Augmented industrial growth in Asia-Pacific and Africa 42
5.3.1.2 Growing automotive industry 43
5.3.2 RESTRAINTS 43
5.3.2.1 Slow growth of end-use industries in North America and Western Europe 43
5.3.3 OPPORTUNITIES 44
5.3.3.1 Rapidly increasing demand from the Asia-Pacific region 44
5.3.3.2 Increasing industrial growth in the Middle East 44
5.4 VALUE CHAIN ANALYSIS 45
5.5 PORTER'S FIVE FORCES ANALYSIS 46
5.5.1 THREAT OF NEW ENTRANTS 47
5.5.2 THREAT OF SUBSTITUTES 47
5.5.3 BARGAINING POWER OF SUPPLIERS 47
5.5.4 BARGAINING POWER OF BUYERS 48
5.5.5 INTENSITY OF COMPETITIVE RIVALRY 48
6 FUNCTIONAL FLUIDS MARKET, BY TYPE 49
6.1 INTRODUCTION 50
6.2 MARKET SIZE and PROJECTION 51
6.2.1 PROCESS OIL 53
6.2.2 HYDRAULIC and TRANSMISSION FLUID 54
6.2.3 METAL WORKING FLUID 55
6.2.4 HEAT TRANSFER FLUID 55
6.2.5 OTHER FUNCTIONAL FLUIDS 57
7 FUNCTIONAL FLUIDS MARKET, BY APPLICATION 58
7.1 INTRODUCTION 59
7.2 INDUSTRIAL 60
7.3 CONSTRUCTION 62
7.4 TRANSPORTATION 63
7.5 OTHERS 64

8 FUNCTIONAL FLUIDS MARKET, BY REGION 65
8.1 INTRODUCTION 66
8.2 ASIA-PACIFIC 70
8.2.1 CHINA 73
8.2.2 INDIA 74
8.2.3 JAPAN 75
8.2.4 REST OF ASIA-PACIFIC 76
8.3 NORTH AMERICA 77
8.3.1 U.S. 79
8.3.2 CANADA 80
8.3.3 MEXICO 81
8.4 EUROPE 83
8.4.1 GERMANY 85
8.4.2 RUSSIA 86
8.4.3 U.K. 87
8.4.4 FRANCE 88
8.4.5 REST OF EUROPE 89
8.5 REST OF THE WORLD 90
8.5.1 MIDDLE EAST 91
8.5.2 AFRICA 92
8.5.3 LATIN AMERICA 93
9 COMPETITIVE LANDSCAPE 95
9.1 OVERVIEW 95
9.2 EXPANSIONS: THE MOST ADOPTED GROWTH STRATEGY 96
9.3 MAXIMUM DEVELOPMENTS IN 2015 97
9.4 COMPETITIVE SITUATION and TRENDS 98
9.4.1 EXPANSIONS 98
9.4.2 NEW PRODUCT LAUNCHES 99
9.4.3 JOINT VENTURES 99
9.4.4 MERGERS and ACQUISITIONS 100
9.4.5 CONTRACTS and AGREEMENTS 100

10 COMPANY PROFILES 101
(Overview, Financial*, Products and Services, Strategy, and Developments)
10.1 REGIONAL REVENUE MIX OF MARKET PLAYERS 101
10.2 ROYAL DUTCH SHELL PLC 102
10.3 EXXON MOBIL CORPORATION 104
10.4 BP PLC 107
10.5 CHEVRON CORPORATION 109
10.6 PETROLIAM NASIONAL BERHAD (PETRONAS) 111
10.7 BASF SE 113
10.8 IDEMITSU KOSAN CO. LTD. 115
10.9 THE DOW CHEMICAL COMPANY 117
10.10 HUNTSMAN INTERNATIONAL LLC 119
10.11 FUCHS PETROLUB AG 120
*Details might not be captured in case of unlisted companies
11 APPENDIX 122
11.1 EXCERPTS FROM INDUSTRY EXPERTS 122
11.2 DISCUSSION GUIDE 123
11.3 INTRODUCING RT: REAL TIME MARKET INTELLIGENCE 126
11.4 AVAILABLE CUSTOMIZATIONS 126
11.5 RELATED REPORTS 127

LIST OF TABLES

TABLE 1 NORTH AMERICA and WESTERN EUROPE: ANNUAL GDP GROWTH RATE (%), BY COUNTRY, 2009-2013 43
TABLE 2 FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (KILOTON) 51
TABLE 3 FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 52
TABLE 4 PROCESS OIL MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 53
TABLE 5 HYDRAULIC and TRANSMISSION FLUID MARKET SIZE, BY REGION,
2013-2020 (USD MILLION) 54
TABLE 6 METAL WORKING FLUID MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 55
TABLE 7 HEAT TRANSFER FLUID MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 56
TABLE 8 OTHER FUNCTIONAL FLUIDS MARKET SIZE, BY REGION,
2013-2020 (USD MILLION) 57
TABLE 9 FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (KILOTON) 59
TABLE 10 FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION) 60
TABLE 11 FUNCTIONAL FLUIDS MARKET SIZE IN INDUSTRIAL, BY REGION,
2013-2020 (USD MILLION) 61
TABLE 12 FUNCTIONAL FLUIDS MARKET SIZE IN CONSTRUCTION, BY REGION,
2013-2020 (USD MILLION) 62
TABLE 13 FUNCTIONAL FLUIDS MARKET SIZE IN TRANSPORTATION, BY REGION,
2013-2020 (USD MILLION) 63
TABLE 14 FUNCTIONAL FLUIDS MARKET SIZE IN OTHERS, BY REGION,
2013-2020 (USD MILLION) 64
TABLE 15 FUNCTIONAL FLUIDS MARKET SIZE, BY REGION, 2013-2020 (KILOTON) 67
TABLE 16 FUNCTIONAL FLUIDS MARKET SIZE, BY REGION, 2013-2020 (USD MILLION) 68
TABLE 17 FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (KILOTON) 68
TABLE 18 FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 68
TABLE 19 FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (KILOTON) 69
TABLE 20 FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION) 69
TABLE 21 ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (KILOTON) 71
TABLE 22 ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION) 71
TABLE 23 ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE,
2013-2020 (USD MILLION) 71
TABLE 24 ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 72
TABLE 25 CHINA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 73
TABLE 26 CHINA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 73
TABLE 27 INDIA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 74
TABLE 28 INDIA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 74
TABLE 29 JAPAN: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 75
TABLE 30 JAPAN: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 75
TABLE 31 REST OF ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPES,
2013-2020 (USD MILLION) 76
TABLE 32 REST OF ASIA-PACIFIC: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION) 76
TABLE 33 NORTH AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (KILOTON) 77
TABLE 34 NORTH AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION) 78
TABLE 35 NORTH AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE,
2013-2020 (USD MILLION) 78
TABLE 36 NORTH AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 78
TABLE 37 U.S.: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 79
TABLE 38 U.S.: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION, 2013-2020 (USD MILLION) 80
TABLE 39 CANADA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 80
TABLE 40 CANADA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 81
TABLE 41 MEXICO: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (KILOTON) 81
TABLE 42 MEXICO: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 82
TABLE 43 EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (KILOTON) 84
TABLE 44 EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION) 84
TABLE 45 EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 84
TABLE 46 EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 85
TABLE 47 GERMANY: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 85
TABLE 48 GERMANY: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 86
TABLE 49 RUSSIA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 86
TABLE 50 RUSSIA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 87
TABLE 51 U.K.: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 87
TABLE 52 U.K.: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 88
TABLE 53 FRANCE: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 88
TABLE 54 FRANCE: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 89
TABLE 55 REST OF EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE,
2013-2020 (USD MILLION) 89
TABLE 56 REST OF EUROPE: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 90
TABLE 57 ROW: FUNCTIONAL FLUIDS MARKET SIZE, BY COUNTRY,
2013-2020 (USD MILLION) 91
TABLE 58 MIDDLE EAST: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE,
2013-2020 (USD MILLION) 91
TABLE 59 MIDDLE EAST: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 92
TABLE 60 AFRICA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE, 2013-2020 (USD MILLION) 92
TABLE 61 AFRICA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 93
TABLE 62 LATIN AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY TYPE,
2013-2020 (USD MILLION) 93
TABLE 63 LATIN AMERICA: FUNCTIONAL FLUIDS MARKET SIZE, BY APPLICATION,
2013-2020 (USD MILLION) 94
TABLE 64 EXPANSIONS, 2012-2015 98
TABLE 65 NEW PRODUCT LAUNCHES, 2012-2015 99
TABLE 66 JOINT VENTURES, 2012-2015 99
TABLE 67 MERGERS and ACQUISITIONS, 2012-2015 100
TABLE 68 CONTRACTS AND AGREEMENTS, 2012-2015 100
LIST OF FIGURES

FIGURE 1 FUNCTIONAL FLUIDS MARKET, RESEARCH DESIGN 18
FIGURE 2 SECONDARY DATA 20
FIGURE 3 PRIMARY DATA 21
FIGURE 4 KEY INSIGHTS 22
FIGURE 5 BREAKDOWN OF PRIMARIES, BY COMPANY TYPE, DESIGNATION , AND REGION 22
FIGURE 6 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 23
FIGURE 7 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH 24
FIGURE 8 FUNCTIONAL FLUIDS MARKET: DATA TRIANGULATION 25
FIGURE 9 PROCESS OIL TO DOMINATE THE FUNCTIONAL FLUIDS MARKET DURING THE FORECAST PERIOD 28
FIGURE 10 INDUSTRIAL SEGMENT TO REGISTER THE HIGHEST CAGR BETWEEN 2015 and 2020 29
FIGURE 11 ASIA-PACIFIC TO WITNESS THE HIGHEST GROWTH DURING THE FORECAST PERIOD 30
FIGURE 12 ASIA-PACIFIC ESTIMATED TO BE THE LARGEST MARKET FOR FUNCTIONAL FLUIDS (2015-2020) 31
FIGURE 13 FUNCTIONAL FLUIDS MARKET TO WITNESS RAPID GROWTH BETWEEN
2015 and 2020 32
FIGURE 14 ASIA-PACIFIC TO WITNESS THE HIGHEST GROWTH RATE BETWEEN 2015 and 2020 33
FIGURE 15 CHINA ACCOUNTED FOR THE LARGEST SHARE IN THE ASIA-PACIFIC
REGION IN 2014 34
FIGURE 16 INCREASING DEMAND FROM THE END-USE INDUSTRIES TO BOOST THE FUNCTIONAL FLUIDS MARKET IN ASIA-PACIFIC BETWEEN 2015 AND 2020 35
FIGURE 17 ASIA-PACIFIC DOMINATED THE FUNCTIONAL FLUIDS MARKET IN 2014 36
FIGURE 18 CHINA TO EMERGE AS A LUCRATIVE MARKET BETWEEN 2015 and 2020 37
FIGURE 19 ASIA-PACIFIC FUNCTIONAL FLUIDS MARKET TO REGISTER HIGH GROWTH DURING THE FORECAST PERIOD 38
FIGURE 20 OVERVIEW OF THE FORCES GOVERNING THE FUNCTIONAL FLUIDS MARKET 42
FIGURE 21 RAW MATERIALS ACCOUNT FOR THE MAJOR VALUE ADDITION 45
FIGURE 22 FUNCTIONAL FLUIDS MARKET: PORTER'S FIVE FORCES ANALYSIS 46
FIGURE 23 TYPES OF FUNCTIONAL FLUIDS 50
FIGURE 24 PROCESS OIL ARE THE MOST PREFERRED FUNCTIONAL FLUIDS 51
FIGURE 25 PROCESS OIL TO DOMINATE THE FUNCTIONAL FLUIDS MARKET BETWEEN 2015 AND 2020 (USD MILLION) 53
FIGURE 26 ASIA-PACIFIC TO REGISTER THE HIGHEST GROWTH RATE FOR HYDRAULIC and TRANSMISSION FLUID BETWEEN 2015 and 2020 54
FIGURE 27 TYPES OF HEAT TRANSFER FLUID 56
FIGURE 28 INDUSTRIAL SEGMENT TO WITNESS HIGH GROWTH DURING THE FORECAST PERIOD 59
FIGURE 29 ASIA-PACIFIC TO DRIVE THE INDUSTRIAL MARKET BETWEEN 2015 AND 2020 60
FIGURE 30 RISING DEMAND FROM THE DEVELOPING NATIONS TO DRIVE THE MARKET FOR CONSTRUCTION BETWEEN 2015 and 2020 62
FIGURE 31 ASIA-PACIFIC TO ACCOUNT FOR LARGEST MARKET DURING THE FORECAST PERIOD 63
FIGURE 32 NORTH AMERICA TO REGISTER HIGH GROWTH DURING THE FORECAST PERIOD 64
FIGURE 33 REGIONAL SNAPSHOT (2015-2020): CHINA AND INDIA ARE EMERGING AS NEW HOTSPOTS 66
FIGURE 34 CHINA and INDIA TO BE THE FASTEST-GROWING MARKETS FOR FUNCTIONAL FLUIDS BETWEEN 2015 AND 2020 67
FIGURE 35 ASIA-PACIFIC MARKET SNAPSHOT: CHINA TO CONTINUE TO DOMINATE THE MARKET 70
FIGURE 36 NORTH AMERICA MARKET SNAPSHOT: U.S. TO REGISTER HIGH GROWTH 77
FIGURE 37 EUROPE MARKET SNAPSHOT: PROCESS OIL TO DOMINATE THE FUNCTIONAL FLUIDS MARKET 83
FIGURE 38 MIDDLE EAST TO REGISTER THE HIGHEST CAGR BETWEEN 2015 and 2020 90
FIGURE 39 COMPANIES ADOPTED EXPANSIONS AS THE KEY GROWTH STRATEGY BETWEEN 2012 and 2015 95
FIGURE 40 FUNCTIONAL FLUID MARKET DEVELOPMENTAL SHARE, 2012-2015 97
FIGURE 41 EUROPEAN FUNCTIONAL FLUIDS MARKET WITNESSED MAXIMUM NUMBER OF DEVELOPMENTS BETWEEN 2012 and 2015 98
FIGURE 42 ROYAL DUTCH SHELL PLC: COMPANY SNAPSHOT 102
FIGURE 43 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT 104
FIGURE 44 BP PLC: COMPANY SNAPSHOT 107
FIGURE 45 CHEVRON CORPORATION: COMPANY SNAPSHOT 109
FIGURE 46 PETROLIAM NASIONAL BERHAD (PETRONAS): COMPANY SNAPSHOT 111
FIGURE 47 BASF SE: COMPANY SNAPSHOT 113
FIGURE 48 IDEMITSU KOSAN CO. LTD.: COMPANY SNAPSHOT 115
FIGURE 49 THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT 117
FIGURE 50 HUNTSMAN INTERNATIONAL LLC: COMPANY SNAPSHOT 119
FIGURE 51 FUCHS PETROLUB AG: COMPANY SNAPSHOT 120

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