Thursday 5 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global Functional Fluids Market: BASF SE, BP plc, Chevron plc, ExxonMobil Corp., AJM Additives Inc. , Akzo Nobel N.V. , Alfa Laval (India) Ltd., Aral Aktiengesellschaft & Co.KG , Chem Ecol Ltd., Cimcool Industrial Products Inc., Croda International plc, D-A Lubricant Co. Inc., D.A. Stuart Inc., Dow Chemical Co., Fuchs Petrolub SE, Gulf Oil Ltd. Partnership , Hatco Corp., Houghton International Inc. , J.D. Streett & Co., Inc. , Klüber Lubrication München KG, Parker-Hannifin Corp., Permatex Inc., Prestone Products Corp., Radiator Specialty Co., Royal Dutch Shell plc, Yushiro Chemical Industry Co. Ltd.
Commenting on the report, an analyst from the new reports team said: “The end-user industries of functional fluids are heavily investing in technologies and are working toward having a product line based on superior base oils and additives, which will accelerate growth and enhance the productivity of end-users. Major functional fluid vendors are continuously restructuring their product portfolios to include new products that will help end-users to maximize productivity and profitability. Another emerging trend in the functional fluids market is that functional fluid vendors are offering efficient service programs and enabling customer service by building OEM partnerships. Such initiatives practiced by major vendors are essential elements for success in the Global Functional Fluids market.”
According to the report, several drivers are propelling the rapid growth of the Global Functional Fluids market, including growing technological advancements in the Industrial sector. As technology improves in this sector, there is an increased demand from end-users for functional fluids that enable high energy, efficiency, productivity, sustainability, and the smooth-running of end-users’ businesses.
Further, the report states that one of the major challenges is the increasing price of raw materials, which affects the growth of the market and the profit margins of market players. Concerns about GHG emissions, ozone depletion, and global warming are also affecting the Global Functional Fluids market in the form of stringent regulations, which, in turn, affect market growth. T
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.