NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The functional fluids market size is set to grow by USD 6.45 bn from 2020 to 2025, according to Technavio. This report offers a thorough analysis of the current global market scenario and the overall market environment.
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The functional fluids market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report also covers the following areas:
Functional Fluids Market 2021-2025: Segmentation
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Functional Fluids Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Some of the major vendors of the functional fluids market include BASF SE, BP Plc, Chevron Corp., Croda International Plc, DuPont de Nemours Inc., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad, and Royal Dutch Shell Plc. Backed with competitive intelligence and benchmarking, our research report on the functional fluids market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
The demand for process oils and metalworking fluids spurred by the transportation industry, growing prominence of synthetic functional fluids, and demand for functional fluids market in the automobile sector will offer immense growth opportunities. However, the susceptibility to microbial attacks will hamper the market growth.
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Functional Fluids Market 2021-2025: Regional Analysis
Technavio's market forecast report offers an updated analysis of the geographical composition of the market as well as the contribution of all regions to the growth of the functional fluids market size. According to our analysis, APAC will record a fast growth rate during the forecast period. As a result, the region should offer several growth opportunities to market vendors. Moreover, 42% of the market's growth is expected to originate from APAC during the forecast period. China is the key country for the functional fluids market in the region.
Functional Fluids Market 2021-2025: Key Highlights
Related Reports:
Functional Fluids Market Scope |
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Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.79% |
Market growth 2021-2025 |
USD 6.45 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.34 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 42% |
Key consumer countries |
China, US, Germany, UK, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
BASF SE, BP Plc, Chevron Corp., Croda International Plc, DuPont de Nemours Inc., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Petroliam Nasional Berhad , and Royal Dutch Shell Plc |
Market Dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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