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Functional Fluids Market by Type & by Application - Global Trends and Forecast to 2020

Functional Fluids Market: Forecast until 2020

  • January 2016
  • 128 pages
  • ID: 3572441
In this report:
This growth is expected to reach ##.##% over the coming years and surpass the global industry growth at ##.##%.
The heat transfer fluid segment is expected to witness the growth of ##.##% during the forecast period.
The functional fluids market is estimated to be USD ##,##.## million in 2014 The market growth is attributed to the increasing demand from the end-use industries Both the developed and developing nations offer growth opportunities in the functional fluids market Growth of application areas offer lucrative opportunities for the market players in the next five years (2015-2020)

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"Rise in use of functional fluids in different applications"

The functional fluids market size is forecasted to reach $42.20B by 2020, recording a compound annual growth rate (CAGR) of 4.50 percent from 2015 to 2020. The growing use of functional fluids as distinguished to conventional mineral oil or synthetic lubricants in urban areas in African continent and APAC is a driving factor for the overall functional fluids market. These fluids can perform in extreme conditions and difficult environmental situations and thus have a good viscosity even at extreme temperature. Also, they are more stable at high and low temperatures as distinguished to mineral oils and synthetic lubricants.

Industrial application to lead the sector

The industrial application controled the overall functional fluids market in 2014. It is expected to register the maximum growth rate from 2015 to 2020. The quick increase of the automotive sector, especially, in the Asia-Pac is driving the rise of the industrial application of the functional fluids market.

Asia-Pac expected to be quickest-rising market during projection period

Asia Pacific (APAC) is forecasted to be the biggest and quickest-increasing market for functional fluids globally. The growth in disposable income of people and industrial increase in the Asia Pacific (APAC) area led to the rising demand of high-performance functional fluids. Furthermore, there has been a consistent increase in number of vehicles in the area over the past decade, which is ultimately fueling the industry demand for functional fluids in the territory.

Distribution of profile of primary interviewees for the analysis

- By Company Type - Tier 1 - 24.0 percent, Tier 2 - 47.0 percent, and 1/3 3 - 29.0 percent

- By Designation - C Level- 38.0 percent, Director Level - 31.0 percent, Others - 31.0 percent

- By area - North america (NA) - 31.0 percent, Europe - 44.0 percent, Asia-Pacific - 19.0 percent, and rest of the world - 6.0 percent

Some of the main firms decribed in this business report are ExxonMobil Corporation, Royal Dutch Shell Plc., BP Plc Fuchs Petrolub SE, Chevron (NYSE:CVX), Idemitsu Kosan Co. Ltd, Dow Chemical (NYSE:DOW), BASF SE, and Petroliam Nasional Berhad, and others.

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