Functional Fluids Market worth 42.2 Billion USD by 2020

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Functional Fluids Market by Type, Application -
Global Trends and Forecast to 2020
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Functional Fluids Market worth 42.2 Billion USD
by 2020
The report "Functional Fluids Market by Type
(Process Oil, Hydraulic Transmission Fluid,
Metal Working Fluid, Heat Transfer Fluid, and
Others) by Application (Industrial,
Construction, Transportation, and Others) -
Global Trends and Forecast to 2020", The
functional fluids market size, in terms of value,
is projected to reach USD 42.2 Billion by 2020,
at a CAGR of 4.5 between 2015 and 2020.
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Functional Fluids Market worth 42.2 Billion USD
by 2020
Browse gtgt 68 data tables
51 figures
127 pages and in-depth TOC on Functional Fluids
Market Early buyers will receive 10
customization on this report. This is a
Premium Report Priced at US 4650 for single
user. The global functional fluids market is
projected to be worth USD 42.2 Billion by 2020,
registering a CAGR of 4.5 between 2015 and 2020.
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Functional Fluids Market worth 42.2 Billion USD
by 2020
The market is driven by the growing automotive
industries and industrialization in the
Asia-Pacific region. The increasing demand for
automobiles in emerging economies such as China,
India, and Japan is fueling the growth of
functional fluids in the region. Another major
factor contributing to the growth of functional
fluids is increased consumer awareness coupled
with stringent government regulations. Process
oil to account for the major share of functional
fluids market till 2020 The functional fluids
market is segmented by types, namely, process
oil, hydraulic transmission fluid, metal
working fluid, heat transfer fluid, and others.
Process oil refers to the fluids which provide
smoothness to the processing unit during the
manufacturing of finished goods. It improves the
quality and performance of the processing
equipment used for manufacturing polymer, fiber,
deformer, cable, tire rubber among others.
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Functional Fluids Market worth 42.2 Billion USD
by 2020
Growing automotive industries and
industrialization to drive the industrial
application segment The industrial application
segment is leading the functional fluids market.
This is owed to the rapid growth of the
manufacturing industries in the Asia-Pacific
region. Functional fluids are used to reduce
friction and stress between the surfaces, provide
oxidation, temperature stability, corrosion
resistance, and low volatility. Asia-Pacific to
be the fastest-growing market during forecast
period The functional fluids market is broadly
segmented into four regions, namely,
Asia-Pacific, North America, Europe, and RoW.
Asia-Pacific is the largest and fastest-growing
market for functional fluids. Growing
industrialization, backed by OEM technical demand
in the region, has offered enormous opportunity
for the use of functional fluids in the
Asia-Pacific region.
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Functional Fluids Market worth 42.2 Billion USD
by 2020
Key Players Currently, the global functional
fluids market is dominated by various market
players such as 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) etc.
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Functional Fluids Market worth 42.2 Billion USD
by 2020
The research study is aimed at identifying
emerging trends and opportunities in the global
functional fluids market along with a detailed
classification of the market, in terms of revenue
and volume. It provides a comprehensive
competitive landscape and identifies the key
players in the global market. The research study
also includes a detailed segmentation of the
global functional fluids market on the basis of
application, type, and region. Purchase a Copy
of this Report Today !
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