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The Global Engineered Fluids Market share is expected to increase by USD 523.24 million at a Compound annual growth rate (CAGR) of 7.79% from 2021 to 2026. The growth of the market is driven by several key factors. This includes the growing demand in industries such as construction, steel, and cement, where specialized fluids are essential for optimal performance. Additionally, developing economies' rising need for engineered fluids to support infrastructure development and industrial growth, along with the increasing requirement for reliable machinery and effective maintenance, further fuel market expansion. These factors collectively underline the market's significance in enhancing industrial processes and infrastructure development globally. This market research and growth report includes in-depth information on the key market drivers, trends, and challenges during the forecasted period.
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The market share growth in the lubricants segment will be significant during the forecast period. The demand for bio-based lubricants is expected to grow during the forecast period as they are environment-friendly, possess high biodegradability, and improve the performance of machinery. In addition, bio-based lubricants exhibit exceptional natural lubricity and viscosity at varying temperatures. These factors of lubricants will propel the market growth in the coming years.
This market forecasting report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights.
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48% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The high focus on the automotive and construction industries and the recovery of the metals, mining, and mineral processing industries will facilitate the market in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans.
The market is witnessing significant growth driven by the Automotive product type and Oil & gas industry, alongside evolving trends in Engineered fluids technology. With the Automotive and Transportation industry at its core, lubricants and heat transfer fluids are experiencing robust demand, particularly in Automotive production. Rapid urbanization and rising disposable income are further propelling market expansion as Engineered fluids find diverse applications across Oil & gas production, Aerospace and military, and the Chemical sector. Leading players like Steelbird, a renowned Automotive components manufacturer, are actively contributing to market segmentation and growth, catering to varied end-use industries and fueling the market's upward trajectory.
The growing demand in the construction, steel, and cement industries is one of the key factors driving the market. The market is experiencing notable growth driven by increasing demand across various sectors, including construction, steel, and cement industries, as well as automotive and transportation. Engineered fluids play a crucial role in enhancing equipment performance and efficiency in these industries. They are utilized in a wide range of applications, such as lubricants, heat transfer fluids, and automotive production processes. With rising populations, urbanization, and disposable incomes, the demand for engineered fluids is expected to continue growing. This trend is further fueled by advancements in engineered fluids technology and their diverse applications across end-use industries, including aerospace, military, and chemical sectors. Additionally, the oil & gas industry's reliance on engineered fluids for production further contributes to market expansion. Manufacturers like Steelbird are at the forefront, providing essential automotive components tailored to meet the evolving needs of the market segments.
The emergence of bio-based engineered fluids is one of the key market trends fueling the market. Companies are manufacturing biodegradable fluids because compared with petroleum-based engineered fluids, bio-based fluids produce a cleaner, less toxic impact on the engine and hydraulic system workers. They also cost less over the product lifecycle owing to less maintenance, storage, and disposal requirements. Moreover, bio-based fluids, such as solvents and others, degrade gradually and, therefore, leave minimal traces in the environment. Thus, their adoption will drive the market growth and trends in focus during the forecast period.
The environmental impact is one of the factors limiting the market development. Lubricants are released into the environment as toxic pollutants during the production and processing stages as well as in disposal by recycling, burning, and landfills. Concerns about the negative impact of toxic lubricants on the environment are increasing, particularly in industrialized countries. For instance, the United States Environmental Protection Agency (US EPA) imposed regulations for the contained use and disposal of these materials. Lubricant contaminants can also be discharged into waterways. Therefore, such restrictions on the production of lubricants restrict the entry of new players into the market, which will negatively impact the development of the market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The market growth and forecasting report analyzes the market’s competitive landscape and offers information on several market companies, including:
This statistical study of the market encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying growth strategies such as M&A to compete in the market.
In the global market, Engineered fluids market trends are influenced by various sectors, notably the Automotive and Transportation industry and the Oil & gas industry. Automotive production and the need for heat transfer fluids are increasing due to rising population and urbanization, driven by higher disposable income. The advancement in Engineered fluids technology caters to diverse needs, including Oil & gas production. Companies like Steelbird, specializing in Automotive product types, play a vital role in this sector. Additionally, the engineered fluids market serves end-use industries such as aerospace, military, electricals & electronics, food processing, and power generation. Additionally, products like greases and wax contribute to the market's versatility, providing solutions across different sectors while ensuring safety and efficiency.
The market is witnessing dynamic trends, especially in the automotive and transportation industry, where heat transfer fluids play a crucial role. With increasing automotive production and a rising population, the demand for engineered fluids is on the upswing. Advancements in engineered fluids technology have led to their diverse applications across various industries, including oil & gas production. End-Use Industry sectors such as aerospace and military, electricals & electronics, food processing, and power generation are also significant consumers of these fluids. The electric & electronics segment benefits particularly from the unique properties of engineered fluids, making them essential in a wide range of applications. As industries seek efficient solutions, the engineered fluids market continues to expand, driven by evolving market segments and growing demand worldwide.
In this market, various sectors drive innovation and demand. The engineered fluids market caters to specific industry needs, including the automotive components manufacturer sector. Companies like Castrol offer a range of products such as fluorinated fluids like Polytetrafluoroethylene, Perfluoro propyl ether, and Perfluoropolyether. These fluids find applications in compressor fluids, metering fluids, mechanical sealing, and vacuum pump fluids. They offer thermal management solutions, chemical stability, and friction reduction across diverse sectors like the electronics & semiconductor industry, chemical processing industry, and aerospace industry. With revenue diversification and integration of cutting edge technologies like the Internet of Things (IoT) and Artificial Intelligence (AI), the market is poised for further growth. Additionally, engineered fluids find applications in electronics cooling, heating, testing, chamber cleaning, connectors, process chamber, and wafer handling in semiconductor manufacturing, offering superior properties and chemical inertness while ensuring low manufacturing costs.
Engineered Fluids Market Scope |
|
Market Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.79% |
Market growth 2022-2026 |
USD 523.24 million |
Market structure |
Fragmented |
YoY growth (%) |
7.07 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key consumer countries |
US, Canada, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
3M Co., ASA Computers Inc., CPI Fluid Engineering Corp., DCX Ltd., Engineered-Fluids, F2 Chemicals Ltd., Frontier Performance Lubricants Inc., Halocarbon LLC, HaloPolymer OJSC, IKV Tribology Ltd., Interflon BV, Kluber Lubrication Munchen SE and Co. KG, Lubrilog SAS, Merck KGaA, Nye Lubricants Inc., Performance Fluids-Ltd., Perstorp Holding AB, Shell plc, Solvay SA, and The Lubrizol Corp. |
Market dynamics |
Market analysis and report, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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