Fire-resistant hydraulic fluid is a specific type of hydraulic fluid that has considerably higher combustion temperature. Consequently, it is more fire resistant compared to the mineral oils. Fire resistant hydraulic fluids are ideal for use in certain applications, including die casting operations and presses or continuous casting hydraulics, which are located near furnaces in steel mills, are ideal examples of fire resistant hydraulic fluids applications. Variables for instance overall system-performance, cost, and fluid stability should be considered when selecting fire resistant hydraulic fluids. Additionally, selecting the right fire resistant hydraulic fluid can often lead to a trade-off between the performance characteristics of the hydraulic fluid and the needs of the system, which can minimize the costs while maximizing health and safety benefits.
Fire resistant hydraulic fluids can also be used in areas of application where mineral oils or petroleum based hydraulic fluids cannot be used. Therefore, growing concerns for worker safety are expected to drive the market for fire resistant hydraulic fluids. Some of the key characteristics of the fire-resistant hydraulic fluids include excellent lubricity, availability in a wide viscosities range and reasonable cost.
As per analysis, “Global Fire Resistant Hydraulic Fluids Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027” the key companies operating in the global fire resistant hydraulic fluids industry include Eastman, Lanxess (Chemtura), Chevron, BASF, American Chemical Technologies, Quaker, Houghton International, Total, Sinopec, MORESCO, ExxonMobil, BP, Wuhan Jiesheng, Shell, Idemitsu and among others. Apart from this, global environmental issues are on the rise and many manufacturers are looking for new technologies such as environmentally friendly or fire resistant bio-based hydraulic fluids that will produce lower emissions while maintaining the same performance, propelling the market forward.
By type, fire resistant hydraulic fluids market is segmented as HFC, HFB, HFD and HFA. In addition, by application, market is segmented as aviation, mining, marine/offshore, metallurgy and others.
Rise in concerns about worker safety, followed by growth in industrialization, rise in awareness about industrial fires, huge demand for hydraulic fluids from the automotive industry, growth in infrastructure development, rise in demand from the oil & gas industry and growth in aviation industry are some major factors, which are responsible for growth of the fire resistant hydraulic fluids market. Apart from this, high prices of fire resistant hydraulic fluids concerning petroleum-based hydraulic fluids may impact the market. Moreover, rise in demand for fire resistant hydraulic fluids in the metal processing industry is a leading opportunity for market.
Based on regional analysis, the Asia-Pacific is a leading region in Global Fire Resistant Hydraulic Fluids Market owing to rise in demand for these fluids in various application areas across the region. The North-America and Europe regions are estimated to witness higher growth rate due to increase in awareness about industrial fires over the forecast period. It is projected that future of the global fire resistant hydraulic fluids market will be bright as a result of rapid industrialization coupled with rise in concerns about worker safety during the forecast period.
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Global Fire Resistant Hydraulic Fluids Market Growth 2021
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