Market Research Analysis Brake Fluid Market - Industry Analysis, Size,Share | Page 2

OEMs and car servicing centers have resulted in the growth of technological modernization and product improvements
in brake fluids by leading companies like Castrol, BASF, Bosch, Exxon Mobil, and Dow Automotive Systems, etc. Owing
to these renovations, brake fluid market is projected to grow significantly in the years to come.
Increase in demand for automobile with improved braking system is the major factor driving brake fluid market in the
coming years. Strict regulations for automotive industries regarding safety by regulatory bodies worldwide is predicted
to augment the market greatly. Brake fluid is responsible for numerous braking activities like better braking response,
durability, and flexibility, which is likely to offer lucrative opportunities in brake fluids market in the near future.
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Constant advancements in car service outlets, automotive OEMs, and suppliers are emphasizing on innovations to
offer secured products and expansion of production sites by businesses are few trends that are predicted to encourage
the growth of brake fluid market worldwide. Nevertheless, lack of consumer awareness and cheap substitutes are the
major downside, hindering the market growth.
Establishment of several workshops, service centers and retailers are other major factors to drive brake fluids market
in the coming years. In the past developments, TRW aftermarket brake has improved progressively and has made
strong presence in advanced braking systems that comprise (ESP) Electronic Stability Programmers. In these systems,
the brake fluid reacts immediately, maximize vehicle performance and prevent skidding. Advanced brake fluids are
installed in every new automobile and is projected to be a major growth factor for brake fluid market in forecast
period.
The market is categorized on the basis of product type, fluid type and geography. On the basis of product type, market
is divided into castor oil-based (pre-DOT, DOT 2), glycol-based (DOT 3, 4, 5.1), and silicone-based (DOT 5). Based on
fluid type, market is divided into non-petroleum base and petroleum (mineral) base. Non-petroleum based are widely
used globally and is projected to hold larger share of market in future.
Geographically, the market is segmented as North America, Latin America, Europe, Asia Pacific, and Middle East &
Africa. Owing to the increasing number of vehicles, Asia Pacific is projected to hold larger market of brake fluid market
in the years to come. The prominent players in brake fluid market are Beijing Haidian Huiyuan Synthetic Agents, Bosch,
Delian Group, Fuchs, Jilin Hairun, Copton, Cnpc, Castrol (BP), Beijing Haidian Huiyuan Synthetic Agents, Caltex, Exxon
Mobil, Irico Group, Original, Laike, Shenzhen Pingchi Industry Co, Shell, Sinopec, Total, Teec, Tianjin Xuqi Gongmao,
Zhuhai Gaida Shiye.
Market Segment:
Key Applications