Market Research Future published a half-cooked research report on Process Fluid Market Research Report- Forecast till 2023
Process Fluid Market is growing continually, witnessing rising sales. The process plays a significant role in various industrial processes such as lubricating & cooling, flushing process, and cleaning in the abrasive machining process. Grinding power reduction depends on the lubricating properties of the process fluid. This fluid is also useful to reduce surface roughness and increase performance & stability in systems and thus to increase the life of various tools and equipment.
Market Scenario and Growth Factors:
Resultantly, process fluids are extensively used in a variety of applications across the industries ranging from electronics, plastics, and paint & coatings to oil & gas. According to Market Research Future (MRFR), the global Process Fluid Market Share is expected to register exponential gains by 2023. MRFR, in its recent study report, also confirms that the market would register a phenomenal CAGR during the review period (2017 – 2023). Augmenting demand for energy is driving the market growth, majorly.
Moreover, rapid industrialization, large installations of solar plants, and the increase in the chemical processing sector over the past few years are escalating the market demand. Additional factors such as growth in the production processes in automotive manufacturing and onshore/offshore O&G operations increase the size of the market.
Adversely, factors such as the stringent regulations due to the severe environmental and safety concerns associated with the process fluid are expected to impede the market growth. Nevertheless, factors such as the rising consumption of process fluids would support market growth throughout the assessment period.
Players leading the global process fluid market include:
Process Oil Inc. (US),
Eastman Chemical Company (US),
Renkert Oil, LLC (US),
Panama Petrochem Ltd. (India),
LUKOIL Lubricants Company (Russia),
Eastern Petroleum Private Limited (India),
Nynas AB (Europe),
HollyFrontier Refining & Marketing LLC (US),
Taurus Petroleums Pvt. Ltd. (India),
Pentagon Lubricants (India),
Industry/ Innovation/ Related News:
July 12, 2019 ---- Hillenbrand, Inc. (the US), a global diversified industrial company, announced the acquisition of Milacron Holdings Corp. (the US), in a cash and stock transaction valued at approximately USD 2 BN to enhances growth opportunities with leading brands and new technologies.
Hillenbrand manufactures multiple market-leading brands that serve a wide variety of industries across the globe. Milacron Holdings manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry, as well as fluid technologies and processing systems.
This transaction represents Hillenbrand’s vision to become a leading global diversified industrial company by adding Milacron’s portfolio of leading brands. Apart from increasing scale and diversification, the acquisition is expected to deliver Hillenbrand, double-digit earnings accretion, and annualized cost synergies of approximately USD 50 MN within the next three years.
Highly competitive, the Process Fluid Market appears to be well-established and fragmented owing to the presence of several large and small-scale players. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
The market is segmented into four dynamics to widen the scope of understanding,
By Type : Naphthenic Oils, Paraffinic Oils, Aromatic Oils, Veg & Bio Oils, and others.
By Application : Catalyst, Polymerization, Cleaners, Solvents, and others.
By End-use Industry : Electronics, Plastics, Fragrance, Oil & Gas, Paint & Coatings, and others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
The Asia Pacific is estimated to retain its dominance over the global process fluid market. The largest market share of the region attributes to the vast consumption of process fluid in the oil & gas industry and substantial investments made into the plastic processing and renewable energy projects. China, followed by Japan and India, leads the regional process fluid market, demonstrating enormous consumption potential.
Moreover, the availability of cost-competitive workforce and the raw material advantage is fostering the market growth, increasing production plants in the region. Besides, rapid industrialization and urbanization, alongside the increasing population in the region, drive the growth of the market.
Furthermore, the growing demand from plastic, paint & coatings, and other industries in China, India, Japan, Taiwan, and South Korea support the growth of the APAC process fluid market.
North America takes the second lead in the global process fluid market, following the APAC market closely. Vast chemical industries in the region predominantly drive the market. Besides, increasing solar power installations alongside the chemical and processing industry define the massive consumption potential of the region. Heading with the rising population and increasing demand for energy from renewable energy sources, the process fluid market in North America is expected to create a substantial revenue pocket over the forecast period.
The process fluid market in the European region is growing drastically. The rapidly increasing chemical and processing sector drive the regional market growth, dominantly. Augmenting demand for the energy led by the increased industrialization in the region defines the growing landscape of the market. Furthermore, growing numbers of solar power projects led by the rising demand for renewable energy boost growth in the regional market.
With the increasing industrial manufacturing processes in the region, a huge amount of process fluid is absorbed for polymerization and as catalyst or solvents. Additionally, well-established O&G and automotive industries majorly contribute to the growth of the process fluid market in the region.
Browse key industry insights spread across 145 pages with 35 market data tables & 11 figures & charts from the report, “Process Fluid Market Information- By Type (Paraffinic Oils, Naphthenic Oils, Aromatic Oils, Veg & Bio Oils, and others), By Application (Polymerization, Catalyst, Solvents, Cleaners and others), By End Use Industry (Oil & Gas, Paint & Coatings, Plastics, Electronics, Fragrance, and others), and By Region- Forecast Till 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/process-fluid-market-3689