Global Functional Fluids Market is accounted for $42.20 billion in 2020 and is expected to reach $69.84 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Augmented industrial growth in Asia-pacific & Africa and the growing automotive industry are the factors driving the market growth.
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By geography, Asia Pacific is going to have high growth during the forecast period due to the increasing industrialism and the shift of the manufacturing systems in the Asia Pacific. Also, extensive automobile production in areas such as India, China, and Japan is driving the regional market growth.
Some of the key players profiled in the Functional Fluids Market include AMSOIL Incorporated, Ashland, BASF SE, BP PLC, Chemtura Corporation, Chevron Corporation, ConocoPhillips, Exxon Mobil Corporation, Fuchs Petrolub AG, Huntsman International LLC, Idemitsu Kosan Co. Ltd, Petroliam Nasional Berhad, Royal Dutch Shell PLC, The DOW Chemical Company, and Warren Oil Company.
Types Covered in Functional Fluids Market
• Bio Based Hydraulic Fluid
• Brake Fluid
• Coating Fluids
• Fire Resistant Fluids
• Heat Transfer Fluid
• Hydraulic & Transmission Fluid
• Metal Working Fluid
• Power Steering Fluids
• Process Oil
End Users Covered:
• Aerospace
• Aircraft
• Automobile
• Chemical
• Construction
• Cosmetics & Personal Care
• Industrial Equipment
• Metal Fabrication Industry
• Mining & Metallurgy
• Motor Vehicles
• Paper & Pulp
• Pharmaceutical
• Power Generation & Energy
• Textile
• Transportation
Sales Channels Covered:
• Direct Sales
• Distributor
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