The global fire resistant lubricants market size is projected to reach USD 2.4 billion by 2027 from USD 2.0 billion in 2022, growing at a CAGR of 3.4 % in terms of value during the forecast period. The growth is largely driven by high demand from metal processing, mining, marine, aviation, and construction industries. The rising demand for manufacturing steel, aluminum, and other metals in developing regions is also fueling the fire resistant lubricants market.
The fire resistant lubricants market is evolving, with major players playing a crucial role in the development of new and advanced products. Key players in the fire resistant lubricants market include TotalEnergies SE (France), Quaker Houghton (US), Shell plc (Netherlands), Exxon Mobil Corporation (US), and BP p.l.c. (UK), among others.
To know about the assumptions considered for the study download the pdf brochure
TotalEnergies SE is a multinational integrated oil and gas company and one of the six "supermajors" in the world, which is listed on the Euronext and New York Stock exchange. The businesses cover the entire oil and gas value chain, starting from exploration and production of crude oil and natural gas to power generation, refining, transportation, petroleum product marketing, and international crude oil and product trade. The company operates through four segments: refining & chemicals, integrated gas renewables & power, marketing & services, and exploration & production. It offers fire resistant lubricants in the marketing & services segment. It is present in 130 countries. In December 2021, TotalEnergies SE announced an agreement with City Rail Link (CRL) Project over the next six months to establish itself as the majority supplier across CRL's sites for Hydransafe and the full lubricants range. In March 2021, TotalEnergies SE announced the launch of a new fire resistant hydraulic fluid named Hydransafe HFC-E that reduces not only fire hazards in underground mines but also delivers higher equipment reliability.
Quaker Houghton develops, produces, and markets a wide range of formulated chemical specialty products & offers chemical management services for various heavy manufacturing and industrial applications. Quaker Houghton's common stock is listed on the New York Stock Exchange under the trading symbol KWR. The company operates its business into four segments, namely Americas, EMEA, Asia/Pacific, and global specialty businesses. The company offers fire resistant lubricants through all segments. The company's products have applications in aluminum, advanced and specialized steel, automotive, aerospace, offshore, can, mining, and metalworking companies. The company operates in over 25 countries worldwide in North America, South America, Europe, the Middle East & Africa, and Asia Pacific. In July 2022, Quaker Houghton announced a collaboration with SKF Group to combine SKF Group's Double Separation Technology (DST) with Quaker Houghton's industrial oils & fluids to enable the industry to utilize its resources more efficiently. In August 2019, Quaker Chemical Corporation and Houghton International combined to form Quaker Houghton, becoming a global leader in industrial process fluids to the metalworking & metals markets expecting cross-selling opportunities.
Shell plc is one of the largest players in the fire resistant lubricants market and is vertically integrated. The company is active in both upstream and downstream activities in the oil & gas industry with a well-established distribution network and brand value which serve as essential factors for its growth prospects. The downstream business segment is of main value, as it is a solid revenue-generating segment with a high return on investment. Expansion is the key growth strategy of the company as it made many expansions to meet the demand from customers and strengthen its position in the global fire resistant lubricants market. In October 2020, Shell plc announced an expansion of business by enhancing its portfolio to provide end-to-end lubrication solutions & service offerings for businesses across key industrial sectors that include a range of fire resistant hydraulic fluids. With this expansion, the company focuses on supporting the primary metals and power sectors. In December 2019, Shell plc announced an acquisition of the assets of American Chemical Technologies, Inc. The acquisition includes two manufacturing facilities making fire resistant hydraulic fluids.
Fire Resistant Lubricants Market by Type (HFA, HFB, HFC, HFDU, HFDR), End-Use Industry (Metal Processing, Mining, Power Generation, Aerospace, Marine, Construction), Region (Asia Pacific, North America, Europe, South America) - Global Forecast to 2027
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.SEND ME A FREE SAMPLE