Hydraulic fluids primarily lubricate pumps and motors within the hydraulic system without impairing the function of other components. Hydraulic equipment uses hydraulic fluids and in case of oil leakage, especially if the fluid used is mineral oil comes into contact with heat source it may pose a great risk of a fire hazard. Fire resistant hydraulic fluids were developed to mitigate this risk. These fluids are widely used in various industrial equipment & machineries. As per the ISO classification, fire resistant hydraulic fluids are classified as HFA Type - Oil in Water Emulsions, HFB Type – Water in Oil Emulsions, HFC Type - Water Glycol Fluids, and HFD Type - Anhydrous Synthetic Fluids. Of these, water glycol hydraulic fluids are commonly used fire resistant hydraulic fluids. The appropriate fire resistant hydraulic fluid should be selected by working closely with the fluid manufacturer for analyzing the system operation and matching the equipment needs with fluid capabilities.

Water glycol fluids offer an optimum combination of fire resistance and performance & cost economics. Water glycol fluids are widely used fire-resistant fluids because of the way they combine fire-resistant properties with lubrication performance to provide excellent value. Water glycol fluids (HFC) are made up 35% to 40% of water to provide resistance to fire; glycol, and water soluble thickener to improve viscosity. Water glycol fluids also contain additives to prevent foaming, rust, and corrosion; and improve lubrication. Additives are performance enhancing chemicals. They include corrosion inhibitors for vapor as well as liquid phase, viscosity index modifiers, anti-wear additives for lubrication, and metal passivators for copper, brass and bronze. These additives usually account for 10% to 15% of total fluid composition. Unlike mineral oils, water glycols do not degrade by heat or metal in the system that acts as catalysts. Thus, these fluids offer virtually an indefinite life with little maintenance.

Based on region, the global water glycol hydraulic fluids market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is the dominating region of the global water glycol hydraulic fluids market, led by the presence of large number of steel mills, foundries, slag management, casting and forging, and machining plants. The region is followed by Europe. Demand for water glycol hydraulic fluids in China has been rising at a fast pace since the last decade. Production and demand for water glycol hydraulic fluids is expected to continue to increase in the country in the near future. The economy of China has been expanding at a rapid pace due to the increase in industrial output, imports & exports, consumer consumption, and capital investment. North America is among the major regions of the market owing to the high per-capita consumption of lubricants. The market in Middle East & Africa is also estimated to expand significantly during the forecast period owing to the growth in the industrial sector.

Demand for water glycol hydraulic fluids is primarily driven by the rise in safety concerns in industries such as mining, steel production, marine, and chemical. Based on application, the water glycol hydraulic fluids and process oil market can be segmented into automotive, industrial machinery, marine, power generation, chemical, and others.  On account of increase in industrial output and rapid industrialization particularly in the emerging economies the industrial machinery application segment dominated the market for water glycol hydraulic fluids in 2016.

Key companies operating in water glycol hydraulic fluids market are Royal Dutch Shell Plc., IOCL, Castrol Limited, Exxon Mobil Corp., British Petroleum Plc., and LUKOIL Lubricants Company. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Water Glycol Hydraulic Fluids Market

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