the present scenario (with the base year being 2017) and the growth prospects of global Fire Resistant Hydraulic Fluids market for 2018-2023.
Fire-resistant hydraulic fluids are specially formulated lubricants that are more difficult to ignite and do not propagate a flame from an ignition source. Fire resistant should not be confused with fire proof, as fire resistant fluids will still ignite and burn given specific conditions.
Currently, there are many companies in the world can produce fire resistant hydraulic fluids product, mainly concentrating in North America, Europe and Asia. The production of fire resistant hydraulic fluids increased from 247.84 K MT in 2012 to 295.98 K MT in 2017.
In consumption market, the growth rate of global consumption is smooth relatively. North America, Europe and China are the main consumption regions. In 2017, the three regions consumed about 76.26% fire resistant hydraulic fluids.
As for the applications, among various fields, consumption volume from Metallurgy is the largest. In 2017, Metallurgy industry consumed 123.25 K MT fire resistant hydraulic fluids.
over the next five years, our projects that fire resistant hydraulic fluids will register a 3.1% cagr in terms of revenue, reach us$ 1630 million by 2023, from us$ 1360 million in 2017.