Automotive Brake Fluid Market Size and Development Analysis with Growth Rate, Trends, and Opportunities till 2031 | Beijing Haidian Huiyuan Synthetic Agents

Market Overview:

Automotive brake fluid is used in hydraulic braking systems of vehicles. It acts as a lubricant and energy transmitter between the brake pedal and brake pads or shoes to stop the vehicle. Brake fluid prevents corrosion and serves as a seal to absorb moisture and maintain hydraulic pressure.

Market Dynamics:

The Automotive Brake Fluid Market is expected to witness significant growth over the forecast period owing to the rising adoption of advanced braking systems such as Anti-lock Braking System (ABS) and Electronic Stability Control (ESC) in vehicles. ABS prevents wheel lockup and allows steering control during emergency braking, enhancing vehicle safety. ESC detects loss of steering control and automatically applies brakes to individual wheels and reduces engine power to help keep the vehicle on course. The growing implementation of ABS and ESC in modern vehicles due to stringent safety regulations is driving the demand for high-quality brake fluids that can withstand harsh braking conditions created by such advanced braking technologies. Additionally, growing vehicle production and increasing vehicle parc are supporting the market growth.

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Major market players included in this report are:

★ Beijing Haidian Huiyuan Synthetic Agents
★ Bosch
★ Copton
★ Beijing Haidian Huiyuan Synthetic Agents
★ Cnpc
★ Castrol (BP)
★ Caltex
★ Exxon Mobil
★ Delian Group
★ Fuchs
★ Jilin Hairun
★ Irico Group
★ Original
★ Laike
★ Shenzhen Pingchi Industry Co
★ Shell
★ Sinopec
★ Total
★ Teec
★ Zhuhai Gaida Shiye
★ Tianjin Xuqi Gongmao along with others.

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

On the basis of fluid types,
✦ Non-petroleum base
✦ Petroleum (mineral) base

On the basis of product type,
✦Castor oil-based (pre-DOT, DOT 2)
✦ Glycol-based (DOT 3, 4, 5.1)
✦ Silicone-based (DOT 5)

Regional Analysis:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✤ Market Drivers

✦ Increasing Vehicle Production and Sales Globally

The automotive brake fluid market is directly dependent on the production and sales of vehicles across the world. With rising income levels and improving economic conditions in developing countries, the demand for personal vehicles has increased tremendously in the past decade. As per various estimates, global vehicle production has increased from around 73 million units in 2010 to over 95 million units in 2019. Countries like China, United States, Japan, Germany, India, Brazil etc. account for the majority of vehicle manufacturing. This consistent rise in vehicle output has created strong demand for various automotive components and fluids including brake fluids. Brahke fluid is required to be changed or topped-up during regular vehicle maintenance and servicing. Therefore, higher vehicle parc directly translates to increased aftermarket consumption of brake fluid.

✦ Stringent Braking Performance Standards

Over the years, automotive safety regulations across the world have become more stringent especially related to braking performance of vehicles. Regulatory bodies like NHTSA (National Highway Traffic Safety Administration) in the US and EU have introduced various mandates and tests to evaluate braking efficiency, anti-lock braking systems, electronic stability control etc. Compliance to such standards requires high quality brake fluids that can withstand higher operating temperatures and pressures within modern braking systems. Moreover, improved brake fluid formulations help boost braking performance in varied weather and road conditions. The evolving regulatory environment has motivated brake fluid manufacturers to innovate and develop advanced products meeting the latest specifications. This acts as a key driver for the global automotive brake fluid market.

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✤ Market Restraint

✦ Growing Popularity of Electric Vehicles

The increasing focus on electric vehicles (EVs) poses a challenge for the automotive brake fluid market. Unlike conventional gasoline or diesel vehicles, EVs do not require engine oils, transmission fluids, coolants or even brake fluids to some extent. This is because regenerative braking used in EVs captures kinetic energy lost during braking and uses it to recharge the battery. Thus, the braking systems in EVs have lesser mechanical components and complexity compared to internal combustion engine vehicles. Additionally, EVs produce less brake wear due to regenerative braking. This could significantly reduce the demand for brake fluid from the EV automotive sector in the coming years. While EVs still hold a small overall market share currently, their sales are rising sharply which may restrain the growth of automotive brake fluid market over the long-run.

✤ Market Opportunity

✦ Growing Middle Class and Rising Automotive Ownership in Developing Nations

Many developing countries across Asia, Latin America, Middle East and Africa are witnessing strong economic growth over the past decade. This has led to a sizeable expansion of middle-income population with increased disposable incomes in nations like China, India, Brazil, Indonesia, Mexico etc. As discretionary spending power rises, more people are able to afford personal vehicles for commuting and leisure purposes. Additionally, improving road infrastructure and easing of commercial vehicle financing has made vehicle ownership more feasible in the developing markets. While per capita automobile ownership remains substantially lower than developed nations currently, it is growing at a rapid rate. With growing automobile parc in developing regions, the overall demand for automotive components, fluids and aftermarket products including brake fluids is likely to surge in the coming years. This presents lucrative opportunities for brake fluid manufacturers to tap into new emerging markets.

✤ Market Trends

✦ Rise of Synthetic and Hybrid Brake Fluids

Traditionally, brake fluids used in vehicles were mainly petroleum-based. However, stringent performance and environmental norms are driving the trend towards more advanced brake fluid formulations. Synthetic and hybrid brake fluids are gaining prominence as they withstand higher temperatures without vaporizing, have improved lubrication, are less corrosive and cause lesser brake noise. Some key benefits of synthetic/hybrid brake fluids include - higher boiling points (over 380°F), better hydraulic stability, longer fluid change intervals, compatibility with various seals/elastomers and lower viscosity change with temperature variations. Leading companies are engaged in R&D to develop innovative product ranges based on polyglycol, silicone and other synthetics for modern braking systems.

Key Questions

• How much revenue will the global Automotive Brake Fluid Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Automotive Brake Fluid Market?

• What are the indicators expected to drive the global Automotive Brake Fluid Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Automotive Brake Fluid Market to expand their geographical presence?

• What are the major advancements witnessed in the global Automotive Brake Fluid Market?

• This report answers these questions and more about the global Automotive Brake Fluid Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Automotive Brake Fluid Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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