Global Functional Fluids Market Value of USD 42.2 Billion by 2020 - Analysis, Technologies & Forecasts Report 2016-2020 - Key Vendors: BASF SE, Royal Dutch Shell PLC & Huntsman International LLC

DUBLIN, Jan. 20, 2016 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/g65j4q/functional_fluids) has announced the addition of the "Functional Fluids Market by Type (Process Oil, Hydraulic & Transmission Fluid, Metal Working Fluid, Heat Transfer Fluid, and Others) & by Application (Industrial, Construction, Transportation, and Others) - Global Trends and Forecast to 2020" report to their offering.

This comprehensive report predicts the global functional fluids market to reach a value of USD 42.2 Billion by 2020, growing with a CAGR of 4.5% between the 2015-2020 period. The growth of market is primarily driven by the processing industries for manufacturing the finished goods. The massive industrial growth in Asia-Pacific and Africa drive the functional fluid market. Moreover, strong OEM recommendation to use high-performance functional fluids coupled with the stringent emission control regulations in these regions is also driving the demand for function fluids.

The functional fluids market is classified on the basis of type: process oil, hydraulic & transmission fluids, metal working fluids, heat transfer fluids, and others. The market is dominated by process oil because of its improved oxidative property and thermal stability. Process oil provides smoothness to the processing unit during the manufacturing of finished goods.

Target Audiences:

• Functional fluids manufacturers
• Functional fluids suppliers
• Functional fluids formulators
• Raw material suppliers
• Service providers
• End users such as automobile, aviation, marine, and manufacturing companies

Market Segmentation, by Type:

• The functional fluids market has been segmented on the basis of type process oil, hydraulic & transmission fluid, metal working fluid, heat transfer fluid, and others.

Market Segmentation, by Application:

• The functional fluids market has been segmented on the basis of application into industrial, construction, transportation, and others.

Companies Mentioned:

• BASF SE
• BP PLC
• Chevron Corporation
• Exxon Mobil Corporation
• Fuchs Petrolub AG
• Huntsman International LLC
• Idemitsu Kosan Co. Ltd.
• Petroliam Nasional Berhad (Petronas)
• Royal Dutch Shell PLC
• The DOW Chemical Company

Report Structure:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Functional Fluids Market, By Type

7 Market, By Application

8 Functional Fluids Market, By Region

9 Competitive Landscape

10 Company Profiles

11 Appendix

For more information visit http://www.researchandmarkets.com/research/g65j4q/functional_fluids

Media Contact:

Laura Wood, +353-1-481-1716, press@researchandmarkets.net

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SOURCE Research and Markets