Fire Resistant Hydraulic Fluid Market Size, Trends and Insights By Type (Water-based, Water-in-oil Emulsions (ISO HFB), Oil-in-water Emulsions (ISO HFA), Water Glycol Fluids (ISO HFC), Anhydrous-based, Polyol Esters, Phosphate Esters (ISO HFDR), PAG), By Application (Metal Processing, Marine, Aviation, Mining, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- American Chemical Technologies Inc.
- Castrol Ltd.
- BASF SE
- China Petrochemical Corporation (Sinopec Group)
- DowDupont Inc.
- Others
Reports Description
The Global Fire Resistant Hydraulic Fluid Market was estimated at USD 1.61 Billion in 2023 and is anticipated to reach around USD 2.11 Billion by 2032, growing at a CAGR of roughly 3% between 2022 and 2030.
CMI research report offers a 360-degree view of the Fire Resistant Hydraulic Fluid market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Fire Resistant Hydraulic Fluid market.
- Hydraulic hose breaks or pinhole leaks lead to fire, damaging hydraulic equipment. Such a fire is difficult to put out with a fire extinguisher because of how quickly it can spread and how hot it can burn. The profitability may be impacted by unplanned downtime, equipment damage, and expenses for handling and cleaning up dangerous contaminants.
- Using fire-resistant fluids in place of the equipment’s flammable hydraulic oils is one technique to prevent these losses from happening. Hydraulic fluids used to reduce the danger of flammability to increase operational and workplace safety are known as fire resistant hydraulic fluids. They were created as an alternative to petroleum-based fluids, which carry the risk of catching fire while in use.
- A particular kind of hydraulic fluid with a much higher combustion temperature is called fire resistant hydraulic fluid. Therefore, compared to mineral oils, it is more fire resistant. Due to their extreme flammability, petroleum-based hydraulic fluids are inappropriate for use in a number of applications. Since open flames or hot surfaces might act as a source of ignition for these fluids due to their high flammability, petroleum-based fluids should not be utilized in hydraulic systems that operate near them or are positioned close to them.
- Large-scale industrial fires may arise from this. Hydraulic fluids that are fire resistant are perfect for use in these situations. Applications for fire-resistant hydraulic fluids include those that are positioned close to ovens in steel mills, such as die-casting operations, presses, or continuous casting hydraulics. The selection of fire resistant hydraulic fluids must consider several factors, including the overall system performance, costs, and fluid stability. Also, choosing the proper fire resistant hydraulic fluid can frequently compromise the system’s needs and the hydraulic fluid’s performance characteristics, which can simultaneously save costs and increase health & safety benefits.
Report Scope
The global Fire Resistant Hydraulic Fluid market research report offers an in-depth analysis of the global market size, which is further segmented into regional and country-level market size, and segmentation market growth. Also, it provides the market share, sales analysis, competitive landscape, the impact of domestic and global market participants, trade regulations, value chain optimization, recent key developments, strategic market growth analysis, opportunities analysis, product launches, and technological innovations. The scope of the study includes market sizing and forecast for segmentation by, type, application, and geography.
| Feature of the Report | Details |
| Market Size in 2023 | USD 1.61 Billion |
| Projected Market Size in 2032 | USD 2.11 Billion |
| Market Size in 2022 | USD 1.55 Billion |
| CAGR Growth Rate | 3% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Key Market Dynamics
- Rapid industrialization is a key factor driving the global fire-resistant hydraulic fluid market.
- Concern over industrial fires has grown recently. Industrial fire mishaps are becoming less expensive and dangerous because of the use of fire resistant hydraulic fluid. The expansion of the aviation sector is a significant element driving the growth of the global fire resistant hydraulic fluid market.
- For usage in aviation, specialized hydraulic fluids with fire-resistance characteristics, such as phosphate esters, have been created. The growing worries about employee safety at work, are boosting market expansion. The market is anticipated to experience substantial expansion as a result of the rising trend toward using environmentally friendly hydraulic fluids.
- With environmental concerns spreading across the globe, many firms are looking for new ideas and environmentally responsible products. Other prospects include creating fire-resistant bio-based hydraulic fluids that create less pollution while providing equivalent efficiency. As a result, the market has several prospects for expansion. However, there are significant limitations, such as the high cost of fire-resistant hydraulic fluids in comparison to hydraulic fluids based on petroleum. This may negatively impact the development of the global market for fire resistant hydraulic fluid.
Asia Pacific Region Dominated the Fire Resistant Hydraulic Fluid Market in 2021
- In 2021, Asia-Pacific accounted for almost 40% of the market for fire-resistant hydraulic fluid. The expansion of important industries like electricity generation, metallurgy, and other fields fuels the industrial growth of the Asia-Pacific region. The demand for new machinery is anticipated to be driven by the booming new metallurgy development projects in these industries of the Asia-Pacific region.
- Furthermore, the market for fire resistant hydraulic fluids would benefit from the increase in demand for new gear. For instance, in March 2021, Saudi Arabia approved building the country’s first mega solar plant. Marubeni, a Japanese infrastructure construction company, will build the project scheduled to be finished in 2023.
- Additionally, there are numerous metal projects in India that are awaiting permission, including the US$4.57 billion “Barenda Village Steel Project.”
- As a result, it is anticipated that the Asia-Pacific region’s expanding power generation and metal projects will spur the market for fire resistant hydraulic fluid during the anticipated forecast period.
- The fire resistant hydraulic fluid industry growth can also be primarily attributed to the increased demand for these fluids in the region, particularly in China, across various application areas. The region leads the world in terms of mining output and steel production. These are the main fields in which fire resistant hydraulic fluids are applied. Additionally, it is predicted that the Asia Pacific market will grow significantly during the forecast period, primarily as a result of the rise in market demand in the region’s developing nations, particularly in China and India.
Competitive Landscape
Players in the fire resistant hydraulic fluid market primarily use technology launches, acquisitions, and enhanced R&D activity as a strategy.
The competitive landscape of the Fire Resistant Hydraulic Fluid industry gives information about the competitors. The company’s financials, revenue generated, market potential, investment in R&D, global presence, new market initiatives, production capacities, production sites and facilities, company strengths and weaknesses, product release, product width and breadth, and application dominance are among the details that are included. The data points mentioned above only pertain to the companies’ market focus on Fire Resistant Hydraulic Fluid.
- 2022: The global leader in environmentally friendly lubricating oils and greases, BioBlend Renewable Resources, LLC, recently added a synthetic fire-resistant hydraulic fluid to its line of products.
List of the prominent players in the global Fire Resistant Hydraulic Fluid market:
- American Chemical Technologies Inc.
- Castrol Ltd.
- BASF SE
- China Petrochemical Corporation (Sinopec Group)
- DowDupont Inc.
- Exxon Mobil Corporation
- Eastman Chemical Company
- Southwestern Petroleum Corporation
- Houghton International Inc.
- MORESCO Corporation
- Idemitsu Kosan Co. Ltd.
- Quaker Chemical Corporation
- Others
The global Fire Resistant Hydraulic Fluid market is segmented as follows:
By Type
- Water-based
- Water-in-oil Emulsions (ISO HFB)
- Oil-in-water Emulsions (ISO HFA)
- Water Glycol Fluids (ISO HFC)
- Anhydrous-based
- Polyol Esters
- Phosphate Esters (ISO HFDR)
- PAG
By Application
- Metal Processing
- Marine
- Aviation
- Mining
- Others
By Region
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Fire Resistant Hydraulic Fluid Market, (2024 – 2033) (USD Billion)
- 2.2 Global Fire Resistant Hydraulic Fluid Market : snapshot
- Chapter 3. Global Fire Resistant Hydraulic Fluid Market – Industry Analysis
- 3.1 Fire Resistant Hydraulic Fluid Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising concerns over employee safety and industrial fires
- 3.2.2 Rising industrialization and a rise in demand for these fluids in the aviation industry
- 3.2.3 Demand for fire resistant hydraulic fluids in the metal processing industry.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Type
- 3.7.2 Market attractiveness analysis By Application
- Chapter 4. Global Fire Resistant Hydraulic Fluid Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Fire Resistant Hydraulic Fluid Market: company market share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Fire Resistant Hydraulic Fluid Market – Type Analysis
- 5.1 Global Fire Resistant Hydraulic Fluid Market overview: By Type
- 5.1.1 Global Fire Resistant Hydraulic Fluid Market share, By Type, 2022 and – 2033
- 5.2 Water-based
- 5.2.1 Global Fire Resistant Hydraulic Fluid Market by Water-based, 2024 – 2033 (USD Billion)
- 5.3 Water-in-oil Emulsions (ISO HFB)
- 5.3.1 Global Fire Resistant Hydraulic Fluid Market by Water-in-oil Emulsions (ISO HFB), 2024 – 2033 (USD Billion)
- 5.4 Oil-in-water Emulsions (ISO HFA)
- 5.4.1 Global Fire Resistant Hydraulic Fluid Market by Oil-in-water Emulsions (ISO HFA), 2024 – 2033 (USD Billion)
- 5.5 Water Glycol Fluids (ISO HFC)
- 5.5.1 Global Fire Resistant Hydraulic Fluid Market by Water Glycol Fluids (ISO HFC), 2024 – 2033 (USD Billion)
- 5.6 Anhydrous-based
- 5.6.1 Global Fire Resistant Hydraulic Fluid Market by Anhydrous-based, 2024 – 2033 (USD Billion)
- 5.7 Polyol Esters
- 5.7.1 Global Fire Resistant Hydraulic Fluid Market by Polyol Esters, 2024 – 2033 (USD Billion)
- 5.8 Phosphate Esters (ISO HFDR)
- 5.8.1 Global Fire Resistant Hydraulic Fluid Market by Phosphate Esters (ISO HFDR), 2024 – 2033 (USD Billion)
- 5.9 PAG
- 5.9.1 Global Fire Resistant Hydraulic Fluid Market by PAG, 2024 – 2033 (USD Billion)
- 5.1 Global Fire Resistant Hydraulic Fluid Market overview: By Type
- Chapter 6. Global Fire Resistant Hydraulic Fluid Market – Application Analysis
- 6.1 Global Fire Resistant Hydraulic Fluid Market overview: By Application
- 6.1.1 Global Fire Resistant Hydraulic Fluid Market share, By Application, 2022 and – 2033
- 6.2 Metal Processing
- 6.2.1 Global Fire Resistant Hydraulic Fluid Market by Metal Processing, 2024 – 2033 (USD Billion)
- 6.3 Marine
- 6.3.1 Global Fire Resistant Hydraulic Fluid Market by Marine, 2024 – 2033 (USD Billion)
- 6.4 Aviation
- 6.4.1 Global Fire Resistant Hydraulic Fluid Market by Aviation, 2024 – 2033 (USD Billion)
- 6.5 Mining
- 6.5.1 Global Fire Resistant Hydraulic Fluid Market by Mining, 2024 – 2033 (USD Billion)
- 6.6 Others
- 6.6.1 Global Fire Resistant Hydraulic Fluid Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Fire Resistant Hydraulic Fluid Market overview: By Application
- Chapter 7. Fire Resistant Hydraulic Fluid Market – Regional Analysis
- 7.1 Global Fire Resistant Hydraulic Fluid Market Regional Overview
- 7.2 Global Fire Resistant Hydraulic Fluid Market Share, by Region, 2022 & – 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Fire Resistant Hydraulic Fluid Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.4 North America Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033
- 7.4.1 North America Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033 (USD Billion)
- 7.5 North America Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033
- 7.5.1 North America Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Fire Resistant Hydraulic Fluid Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033
- 7.7.1 Europe Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033
- 7.8.1 Europe Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Fire Resistant Hydraulic Fluid Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033
- 7.10.1 Asia Pacific Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033
- 7.11.1 Asia Pacific Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Fire Resistant Hydraulic Fluid Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033
- 7.13.1 Latin America Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033
- 7.14.1 Latin America Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033 (USD Billion)
- 7.15. The Middle-East and Africa
- 7.15.1 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, by Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033
- 7.17.1 The Middle-East and Africa Fire Resistant Hydraulic Fluid Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 American Chemical Technologies Inc.
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Castrol Ltd.
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 BASF SE
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 China Petrochemical Corporation (Sinopec Group)
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 DowDupont Inc.
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Exxon Mobil Corporation
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Eastman Chemical Company
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 Southwestern Petroleum Corporation
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 Houghton International Inc.
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 MORESCO Corporation
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Idemitsu Kosan Co. Ltd.
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.12 Quaker Chemical Corporation
- 8.12.1 Overview
- 8.12.2 Financials
- 8.12.3 Product Portfolio
- 8.12.4 Business Strategy
- 8.12.5 Recent Developments
- 8.13 Others.
- 8.13.1 Overview
- 8.13.2 Financials
- 8.13.3 Product Portfolio
- 8.13.4 Business Strategy
- 8.13.5 Recent Developments
- 8.1 American Chemical Technologies Inc.
List Of Figures
Figures No 1 to 27
List Of Tables
Tables No 1 to 57
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Players
- American Chemical Technologies Inc.
- Castrol Ltd.
- BASF SE
- China Petrochemical Corporation (Sinopec Group)
- DowDupont Inc.
- Exxon Mobil Corporation
- Eastman Chemical Company
- Southwestern Petroleum Corporation
- Houghton International Inc.
- MORESCO Corporation
- Idemitsu Kosan Co. Ltd.
- Quaker Chemical Corporation
- Others
FAQs
“Asia Pacific” region will lead the global Fire Resistant Hydraulic Fluid market during the forecast period 2023 to 2032.
The key factors driving the market are rising concerns over employee safety and industrial fires, rising industrialization and a rise in demand for these fluids in the aviation industry and demand for fire resistant hydraulic fluids in the metal processing industry.
The key players operating in the Fire Resistant Hydraulic Fluid market are American Chemical Technologies Inc., Castrol Ltd., BASF SE, China Petrochemical Corporation (Sinopec Group), DowDupont Inc., Exxon Mobil Corporation, Eastman Chemical Company, Southwestern Petroleum Corporation, Houghton International Inc., MORESCO Corporation, Idemitsu Kosan Co. Ltd., Quaker Chemical Corporation, Others.
The global Fire Resistant Hydraulic Fluid market is expanding growth with a CAGR of approximately 3% during the forecast period (2023 to 2032).
The global Fire Resistant Hydraulic Fluid market size was valued at USD 1.5 Billion in 2022 and it is projected to reach around USD 2 Billion by 2032.