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.
Browse 68 market tables and 51 figures spread through 127 pages and in-depth TOC on "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" https://www.marketsandmarkets.com/Market-Reports/functional-fluids-market-175554096.html Early buyers will receive 10% customization on reports.
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), and others.
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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.
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