Fire Resistant Hydraulic Fluid Market is driven by increasing safety concerns in industries
The fire resistant hydraulic fluid market involves fluids used as mediums to transfer power in hydraulic machinery. They are heat-transfer mediums that operate under high pressures and temperatures. Fire resistant hydraulic fluids are manufactured using specific additives that provide them an increased flash point and greater resistance to fire as compared to conventional hydraulic oils. They find widespread adoption in applications involving risks of fire ignition due to hydraulic leaks or other causes. Their usage ensures safe operation of equipment even under high pressure and potential ignition sources.
The Global Fire Resistant Hydraulic Fluid Market is estimated to be valued at US$ 1.50 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the fire resistant hydraulic fluid market are American Chemical Technologies Inc., Castrol Ltd., BASF SE, China Petrochemical Corporation (Sinopec Group), DowDupont Inc., Exxon Mobil Corporation, Eastman Chemical Company, Southwestern Petroleum Corporation, Houghton International Inc., MORESCO Corporation, Idemitsu Kosan Co. Ltd., Quaker Chemical Corporation, Shell plc, FUCHS, TotalEnergies, PETROFER, LANXESS, CONDAT, Chevron, and Phillips 66.
The Fire Resistant Hydraulic Fluid Market Size from industries such as mining, construction, and manufacturing is a major factor driving the demand for fire resistant hydraulic fluids. Their usage ensures safety from hydraulic leak-caused fires in heavy machinery and equipment employed in these high-risk industries.
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