With the replacement of water-based fluids with oil-based fluids in most of the hydraulic components and systems, usage of fire resistant fluids has become more imperative. Fire resistant fluids are specially formulated fluid lubricants, which prevent the propagation of the flame and are more difficult to ignite.
Fire resistant fluids find their applications in industries where there is high probability of hydraulic fluids coming in contact with any source of ignition or very hot component. Fire resistant hydraulic fluids find its applications in industries where hydraulic lines are subjected to very high pressure conditions.
Thus, fire resistant fluids are suitable for usage in the steel & iron industry, underground mining, smelting & foundry. Therefore, increasing usage of fire resistant fluids in the aforementioned industries is expected to fuel the demand over the coming years.
Fire resistant fluids perform critical operations of prevention of fire and controllability at very high pressures (~3000 Pa) by inhibiting the ignition owing to their chemical composition. Apart from certain end-use industries, which are exposed to extremely high temperature conditions, fire resistant fluids also find an important application in the aerospace industry where the hydraulic system of an aircraft is a major critical factor for safety.
Nowadays, complexity of the manufacturing processes have increased with the operating environments are getting more severe over time. Smaller hydraulic reservoir sizes, high pressure and severe operating conditions have made usage of fire resistant fluids a necessity, which is one of the key factors for the growth of the fire resistant market.
Furthermore, with the rising safety concern about averting hazardous incidents caused due to fire, manufacturers have also increased their investments in safety and prevention over time. Growth in the industrialization sector across developing economies is also an important factor to boost the growth of the fire resistant fluids market over the forecast period.
The usage of fire resistant fluids have become a necessity in many industries, such as steel, mining, aviation to name a few, but high cost of these fluids restraints its full-fledged usage. Fire resistant fluids are nearly four times the cost of petroleum-based fluids.
Furthermore, fire resistant fluids available are not able to fill the tradeoff between the properties, such are high fire resistance, high pressure conditions and how well the wear & tear is handled by the fluid. This is also a key factor which is expected to act as an impediment to the growth of the fire resistant fluids market. Since different fire resistant fluids are available for different working conditions, changing the fluids during the process is a typical procedure as no two fire resistant fluids are largely compatible with each other.
Among the types of fire resistant fluids, water glycol fluids (an oil in water fluid) and poly ester fluids (synthetic based) are amongst the popular fluids being used. Nowadays, the fire resistant fluid manufacturing companies are focused on product development in order to imbibe other desired properties, which would increase the reliability.
North America is estimated to account for a major share in the global fire resistant fluids market owing to high safety standard norms in industrial activities, such as mining, and automobile manufacturing, among others. Europe is also anticipated to witness steady growth owing to high presence of manufacturing activities, such as metal working and automotive industries.
Demand for fire resistant fluids in Asia Pacific is also expected to grow at a rapid pace owing to rapid increase in activities in steel production, smelting, foundry, etc. Latin America and the MEA are expected to show fair growth owing to high underground mining activities and rising presence of manufacturing sector.
Examples of some of the market participants in the global fire resistant fluids market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global fire resistant fluids market can be segmented based on fluid type and application.
By fluid type, the global fire resistant fluids market can be segmented as:
By application, the global fire resistant fluids market can be segmented as:
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Fire Resistant Fluids Market
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