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PUBLISHER: IMARC | PRODUCT CODE: 1370283
PUBLISHER: IMARC | PRODUCT CODE: 1370283
Functional Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 147 Pages
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Abstract
Market Overview:
The global functional fluids market size reached US$ 44.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 58.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
Functional fluids refer to various liquids that are used for insulation and lubrication in hydraulic and braking systems, turbines, compressors, engines, refrigeration systems, transmissions and guides. Some of the most common types of functional fluids include engine oils, transmission and hydraulic fluids, metalworking and heat transfer fluids. They are primarily used for minimizing friction and wear and tear of the working components, dissipating the heat generated, preventing corrosion and sealing components. They also exhibit low compressibility ratio, offer protection to the machine against oxidization and can perform efficiently under high temperatures, mechanical stress and pressures. Owing to this, they find extensive applications across the automotive, metals & mining, transportation, construction, and aerospace industries.
Functional Fluids Market Trends:
Significant growth in the construction and automotive industries is one of the key factors driving the growth of the market. In line with this, the widespread adoption of automotive functional fluids, such as antifreeze and engine internal cleaner, that aid in maintaining the optimal performance of the vehicle components, is also contributing to the market growth. Furthermore, the rising demand for high-performance process oils in the industrial metal fabrication sector is providing a boost to the market growth. Functional fluids provide smooth surfaces to the processing unit and improve the performance of the equipment used for manufacturing polymers, fibers and cables. Additionally, the development of bio-based oil is acting as another growth-inducing factor. Owing to the implementation of stringent government regulations, manufacturers are developing environment-friendly functional fluids that are manufactured using vegetable oils. Other factors, such as the increasing adoption of these fluids for packaging, printing and manufacturing specialty paper, along with rapid industrialization across the globe, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global functional fluids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
Process Oil
Hydraulic and Transmission Fluid
Metalworking Fluid
Heat Transfer Fluid
Coating Fluid
Bio-based Hydraulic Fluid
Others
Breakup by Application:
Automotive
Metals and Mining
Construction
Transportation
Industrial Machinery
Others
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being BASF SE, BP International Limited, Chevron Corporation, Croda International Plc, Exxon Mobil, FUCHS PETROLUB SE, Huntsman International LLC (Indorama Ventures Public Co. Ltd.), Idemitsu Kosan Co., Ltd., Petroliam Nasional Berhad (PETRONAS), Shell International B.V., The Dow Chemical Company, etc.
Key Questions Answered in This Report:
- How has the global functional fluids market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global functional fluids market?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global functional fluids market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A2203
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Functional Fluids Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Process Oil
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Hydraulic and Transmission Fluid
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Metalworking Fluid
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Heat Transfer Fluid
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Coating Fluid
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Bio-based Hydraulic Fluid
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
- 6.7 Others
- 6.7.1 Market Trends
- 6.7.2 Market Forecast
7 Market Breakup by Application
- 7.1 Automotive
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Metals and Mining
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Construction
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Transportation
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Industrial Machinery
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Others
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 SWOT Analysis
- 9.1 Overview
- 9.2 Strengths
- 9.3 Weaknesses
- 9.4 Opportunities
- 9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Indicators
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 BASF SE
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 Financials
- 13.3.1.4 SWOT Analysis
- 13.3.2 BP International Limited
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.2.4 SWOT Analysis
- 13.3.3 Chevron Corporation
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.3.3 Financials
- 13.3.3.4 SWOT Analysis
- 13.3.4 Croda International Plc
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Exxon Mobil
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.5.4 SWOT Analysis
- 13.3.6 FUCHS PETROLUB SE
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Huntsman International LLC (Indorama Ventures Public Co. Ltd.)
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.8 Idemitsu Kosan Co. Ltd.
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.8.3 Financials
- 13.3.8.4 SWOT Analysis
- 13.3.9 Petroliam Nasional Berhad (PETRONAS)
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 SWOT Analysis
- 13.3.10 Shell International B.V.
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.10.3 Financials
- 13.3.11 The Dow Chemical Company
- 13.3.11.1 Company Overview
- 13.3.11.2 Product Portfolio
- 13.3.1 BASF SE
Product Code: SR112023A2203
List of Figures
- Figure 1: Global: Functional Fluids Market: Major Drivers and Challenges
- Figure 2: Global: Functional Fluids Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Functional Fluids Market: Breakup by Type (in %), 2022
- Figure 4: Global: Functional Fluids Market: Breakup by Application (in %), 2022
- Figure 5: Global: Functional Fluids Market: Breakup by Region (in %), 2022
- Figure 6: Global: Functional Fluids Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 7: Global: Functional Fluids (Process Oil) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: Functional Fluids (Process Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Functional Fluids (Metalworking Fluid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Functional Fluids (Metalworking Fluid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Functional Fluids (Heat Transfer Fluid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Functional Fluids (Heat Transfer Fluid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Functional Fluids (Coating Fluid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Functional Fluids (Coating Fluid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Functional Fluids (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Functional Fluids (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Functional Fluids (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Functional Fluids (Metals and Mining) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Functional Fluids (Metals and Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Functional Fluids (Construction) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Functional Fluids (Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Functional Fluids (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Functional Fluids (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Functional Fluids (Industrial Machinery) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Functional Fluids (Industrial Machinery) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Functional Fluids (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: North America: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: North America: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: United States: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: United States: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Canada: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Canada: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Asia Pacific: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Asia Pacific: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: China: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: China: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Japan: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Japan: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: India: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: India: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: South Korea: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: South Korea: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Australia: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Australia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Indonesia: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Indonesia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Others: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Europe: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Europe: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Germany: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Germany: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: France: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: France: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: United Kingdom: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: United Kingdom: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Italy: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Italy: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Spain: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Spain: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Russia: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Russia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Others: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Latin America: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Latin America: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Brazil: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Brazil: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Mexico: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Mexico: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Others: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Middle East and Africa: Functional Fluids Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Middle East and Africa: Functional Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Global: Functional Fluids Industry: SWOT Analysis
- Figure 82: Global: Functional Fluids Industry: Value Chain Analysis
- Figure 83: Global: Functional Fluids Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Functional Fluids Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Functional Fluids Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Functional Fluids Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 4: Global: Functional Fluids Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Functional Fluids Market Structure
- Table 6: Global: Functional Fluids Market: Key Players
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