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Functional Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global functional fluids market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026. Functional fluids refer to various liquids that are used for insulation and lubrication in hydraulic and braking systems, turbines, compressors, engines, refrigeration systems, transmissions and guides. Some of the most common types of functional fluids include engine oils, transmission and hydraulic fluids, metalworking and heat transfer fluids. They are primarily used for minimizing friction and wear and tear of the working components, dissipating the heat generated, preventing corrosion and sealing components. They also exhibit low compressibility ratio, offer protection to the machine against oxidization and can perform efficiently under high temperatures, mechanical stress and pressures. Owing to this, they find extensive applications across the automotive, metals & mining, transportation, construction, and aerospace industries.

Significant growth in the construction and automotive industries is one of the key factors driving the growth of the market. In line with this, the widespread adoption of automotive functional fluids, such as antifreeze and engine internal cleaner, that aid in maintaining the optimal performance of the vehicle components, is also contributing to the market growth. Furthermore, the rising demand for high-performance process oils in the industrial metal fabrication sector is providing a boost to the market growth. Functional fluids provide smooth surfaces to the processing unit and improve the performance of the equipment used for manufacturing polymers, fibers and cables. Additionally, the development of bio-based oil is acting as another growth-inducing factor. Owing to the implementation of stringent government regulations, manufacturers are developing environment-friendly functional fluids that are manufactured using vegetable oils. Other factors, such as the increasing adoption of these fluids for packaging, printing and manufacturing specialty paper, along with rapid industrialization across the globe, are projected to drive the market further.

Breakup by Type:

  • Process Oil
  • Hydraulic and Transmission Fluid
  • Metalworking Fluid
  • Heat Transfer Fluid
  • Coating Fluid
  • Bio-based Hydraulic Fluid
  • Others
     

Breakup by Application:

  • Automotive
  • Metals and Mining
  • Construction
  • Transportation
  • Industrial Machinery
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being BASF SE, BP Plc., Chevron Corporation, Croda International Plc, Exxon Mobil Corporation, Fuchs Petrolub AG, Huntsman International LLC (Indorama Ventures Public Co. Ltd.), Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad (PETRONAS), Royal Dutch Shell Plc, The Dow Chemical Company, etc.

Key Questions Answered in This Report:

  • How has the global functional fluids market performed so far and how will it perform in the coming years?
  • What are the key regional markets?
  • What has been the impact of COVID-19 on the global functional fluids market?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global functional fluids market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Functional Fluids Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type 
    6.1    Process Oil
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Hydraulic and Transmission Fluid
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Metalworking Fluid
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Heat Transfer Fluid
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Coating Fluid
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Bio-based Hydraulic Fluid
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7    Others
        6.7.1 Market Trends
        6.7.2 Market Forecast
7   Market Breakup by Application
    7.1    Automotive
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Metals and Mining 
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Construction
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Transportation
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Industrial Machinery
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Others
        7.6.1 Market Trends
        7.6.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Indicators
13  Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    BASF SE
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio 
           13.3.1.3 Financials 
           13.3.1.4 SWOT Analysis
        13.3.2    BP Plc
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 Financials 
           13.3.2.4 SWOT Analysis
        13.3.3    Chevron Corporation
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio 
           13.3.3.3 Financials 
           13.3.3.4 SWOT Analysis
        13.3.4    Croda International Plc
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio 
           13.3.4.3 Financials 
           13.3.4.4 SWOT Analysis
        13.3.5    Exxon Mobil Corporation
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio 
           13.3.5.3 Financials 
           13.3.5.4 SWOT Analysis
        13.3.6    Fuchs Petrolub AG
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials 
           13.3.6.4 SWOT Analysis
        13.3.7    Huntsman International LLC (Indorama Ventures Public Co. Ltd.)
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio 
        13.3.8    Idemitsu Kosan Co. Ltd.
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
           13.3.8.3 Financials 
           13.3.8.4 SWOT Analysis
        13.3.9    Petroliam Nasional Berhad (PETRONAS)
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio 
           13.3.9.3 SWOT Analysis
        13.3.10    Royal Dutch Shell Plc
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio 
           13.3.10.3 Financials 
        13.3.11    The Dow Chemical Company
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio 


List of Figures

Figure 1: Global: Functional Fluids Market: Major Drivers and Challenges
Figure 2: Global: Functional Fluids Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Functional Fluids Market: Breakup by Type (in %), 2020
Figure 4: Global: Functional Fluids Market: Breakup by Application (in %), 2020
Figure 5: Global: Functional Fluids Market: Breakup by Region (in %), 2020
Figure 6: Global: Functional Fluids Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 7: Global: Functional Fluids (Process Oil) Market: Sales Value (in Million US$), 2015 & 2020
Figure 8: Global: Functional Fluids (Process Oil) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 9: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Functional Fluids (Metalworking Fluid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Functional Fluids (Metalworking Fluid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Functional Fluids (Heat Transfer Fluid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Functional Fluids (Heat Transfer Fluid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Functional Fluids (Coating Fluid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Functional Fluids (Coating Fluid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Functional Fluids (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Functional Fluids (Automotive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Functional Fluids (Automotive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Functional Fluids (Metals and Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Functional Fluids (Metals and Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Functional Fluids (Construction) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Functional Fluids (Construction) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Functional Fluids (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Functional Fluids (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Functional Fluids (Industrial Machinery) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Functional Fluids (Industrial Machinery) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Functional Fluids (Others) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: North America: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: North America: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: United States: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: United States: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Canada: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Canada: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Asia Pacific: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Asia Pacific: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: China: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: China: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: Japan: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: Japan: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: India: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: India: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: South Korea: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: South Korea: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Australia: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Australia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Indonesia: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Indonesia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Others: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Europe: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Europe: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: Germany: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: Germany: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: France: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: France: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: United Kingdom: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: United Kingdom: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Italy: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Italy: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Spain: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Spain: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Russia: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Russia: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Others: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Latin America: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Latin America: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Brazil: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Brazil: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Mexico: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Mexico: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Others: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Others: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Middle East and Africa: Functional Fluids Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Middle East and Africa: Functional Fluids Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Global: Functional Fluids Industry: SWOT Analysis
Figure 82: Global: Functional Fluids Industry: Value Chain Analysis
Figure 83: Global: Functional Fluids Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Functional Fluids Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Functional Fluids Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Global: Functional Fluids Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 4: Global: Functional Fluids Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 5: Global: Functional Fluids Market Structure
Table 6: Global: Functional Fluids Market: Key Players

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