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機能性流体の市場規模、シェア、動向、予測：タイプ、用途、地域別、2025年～2033年

Functional Fluids Market Size, Share, Trends and Forecast by Type, Application, and Region, 2025-2033

出版日
発行
IMARC
ページ情報
英文 141 Pages
納期
2～3営業日
カスタマイズ可能
価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=149.25円
機能性流体の市場規模、シェア、動向、予測：タイプ、用途、地域別、2025年～2033年
出版日: 2025年08月01日
発行: IMARC
ページ情報: 英文 141 Pages
納期: 2～3営業日
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  • 概要
  • 図表
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概要

機能性流体の世界市場規模は、2024年に481億3,000万米ドルとなりました。今後、IMARC Groupは、2033年には701億7,000万米ドルに達し、2025年から2033年にかけて3.94%のCAGRを示すと予測しています。現在、アジア太平洋地域が市場を独占しており、2024年の市場シェアは42.7%を超えます。急速な工業化、自動車生産の拡大、インフラの成長により市場は拡大しています。さらに、製造業、金属加工業、建設業からの旺盛な需要と、高性能潤滑油や環境に優しい配合の普及が、この地域における機能性流体市場の需要を牽引しています。

機能性流体市場は、産業活動の活発化、自動車生産の増加、製造業の進歩によって成長しています。自動車部門では、効率を高め、排ガス規制を満たすために、高性能潤滑油、冷却油、トランスミッション液の需要が高まっています。さらに、インフラ投資による建設業の成長も、油圧作動油やギアオイルの需要を押し上げています。このような成長は、産業界が性能向上のための高度なソリューションを求めているため、機能性流体市場のシェア拡大に寄与しています。金属加工、発電、化学などの産業が拡大していることも、市場の拡大を後押ししています。さらに、機能性流体は機器の摩耗を減らし、熱伝達を改善し、効率を高める。規制や持続可能性の目標に後押しされ、バイオベースの環境に優しい流体へのシフトが採用を加速しており、産業界は特殊な配合で効率と耐久性を優先しています。

米国では、強固な産業基盤、自動車生産の増加、高性能潤滑油の需要により、機能性流体市場が成長しています。同国の自動車部門は燃費効率の高い技術に投資しており、先進的な潤滑油とトランスミッション液の使用拡大につながっています。インフラ整備の進展や金属加工・製造業の活発化も機能性流体の採用を促進し、機能性流体市場シェアに貢献しています。さらに、環境規制の厳格化により、メーカーは性能を維持しながらコンプライアンスを確保するため、生分解性と低毒性の配合を求めるようになっています。例えば、2024年9月、Chevronは海洋および建設業界向けの先進的な油圧作動油であるClarity Bio EliteSyn AWの発売を発表しました。同製品は、再生可能炭素90%以上で厳しい環境規制を満たすと同時に、高い性能、耐久性、効率を確保し、品質や運用基準を損なうことなく持続可能性をサポートします。

機能性流体市場動向：

建設・自動車分野の拡大

建設業界と自動車業界の著しい成長は、市場の成長を促す重要な要因のひとつです。米国建築家協会は、2023年に22%増加した非住宅建設が2024年には4%増加すると予測しています。2024年1月の民間住宅建設許可件数は前年比8.6%増となり、再成長を示しています。これに伴い、不凍液やエンジン内部クリーナーなど、自動車部品の最適性能維持を助ける自動車用機能性流体の普及も市場成長に寄与しています。さらに、工業用金属加工分野での高性能プロセスオイルの需要の高まりが、市場の成長を後押ししています。機能性流体は、加工装置に滑らかな表面を提供し、ポリマー、繊維、ケーブルの製造に使用される装置の性能を向上させ、機能性流体の主要な市場動向の一つとなっています。

政府規制と持続可能性への取り組み

バイオベース油の開発は、もう一つの成長促進要因として作用しています。厳しい政府規制の実施により、製造業者は植物油を使用して製造された環境に優しい機能性流体を開発しています。例えば、2024年12月19日、インド政府は、国家バイオエネルギー計画やプラダン・マントリJI-VANヨジャナなどのバイオエネルギー成長イニシアチブを強調しました。エタノール混合により55万7,000トンのCO2が削減されました。2Gエタノールプロジェクトを908カロールインドルピーで支援。「立ち入り禁止」地域が1,366,708 SKMから24,832 SKMに減少し、探査が活発化。パッケージング、印刷、特殊紙の製造にこれらの流体が採用されるようになっていること、世界中で工業化が急速に進んでいることなど、その他の要因も市場をさらに牽引し、機能性流体市場の見通しに影響を与えると予測されます。

産業・製造用途における需要の高まり

高性能機能性流体に対する産業部門のニーズは、特に金属加工、ポリマー加工、発電において高まっています。プロセスオイルは、繊維、ケーブル、特殊ポリマーを生産する製造装置の性能を向上させる。さらに、金属加工では、加工精度を高め、摩耗を減らすために、高度な切削油剤や冷却油剤に依存しています。産業の拡大と急速な技術の進歩も、エネルギーシステムにおける熱伝導流体と誘電流体の採用に拍車をかけています。例えば、業界レポートによると、中国は2024年第3四半期に1.1%増加し、製造業の継続的な拡大を経験しました。さらに、産業界が効率性と耐久性を優先する中、機器のメンテナンスとプロセスの最適化における機能性流体市場の需要は成長を続けており、複数の高性能製造環境における生産性をサポートしています。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査の目的
  • ステークホルダー
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

第5章 世界の機能性流体市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳：タイプ別

  • プロセスオイル
  • 油圧およびトランスミッションフルード
  • 金属加工油
  • 熱伝達流体
  • コーティング液
  • バイオベース油圧作動油
  • その他

第7章 市場内訳：用途別

  • 自動車
  • 金属および鉱業
  • 建設
  • 輸送
  • 産業機械
  • その他

第8章 市場内訳：地域別

  • 北米
    • 米国
    • カナダ
  • アジア太平洋
    • 中国
    • 日本
    • インド
    • 韓国
    • オーストラリア
    • インドネシア
    • その他
  • 欧州
    • ドイツ
    • フランス
    • 英国
    • イタリア
    • スペイン
    • ロシア
    • その他
  • ラテンアメリカ
    • ブラジル
    • メキシコ
    • その他
  • 中東・アフリカ

第9章 SWOT分析

第10章 バリューチェーン分析

第11章 ポーターのファイブフォース分析

第12章 価格指標

第13章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • BASF SE
    • BP International Limited
    • Chevron Corporation
    • Croda International Plc
    • Exxon Mobil
    • FUCHS PETROLUB SE
    • Huntsman International LLC（Indorama Ventures Public Co. Ltd.）
    • Idemitsu Kosan Co. Ltd.
    • Petroliam Nasional Berhad（PETRONAS）
    • Shell International B.V.
    • The Dow Chemical Company
図表

List of Figures

  • Figure 1: Global: Functional Fluids Market: Major Drivers and Challenges
  • Figure 2: Global: Functional Fluids Market: Sales Value (in Billion USD), 2019-2024
  • Figure 3: Global: Functional Fluids Market: Breakup by Type (in %), 2024
  • Figure 4: Global: Functional Fluids Market: Breakup by Application (in %), 2024
  • Figure 5: Global: Functional Fluids Market: Breakup by Region (in %), 2024
  • Figure 6: Global: Functional Fluids Market Forecast: Sales Value (in Billion USD), 2025-2033
  • Figure 7: Global: Functional Fluids (Process Oil) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 8: Global: Functional Fluids (Process Oil) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 9: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 10: Global: Functional Fluids (Hydraulic and Transmission Fluid) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 11: Global: Functional Fluids (Metalworking Fluid) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 12: Global: Functional Fluids (Metalworking Fluid) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 13: Global: Functional Fluids (Heat Transfer Fluid) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 14: Global: Functional Fluids (Heat Transfer Fluid) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 15: Global: Functional Fluids (Coating Fluid) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 16: Global: Functional Fluids (Coating Fluid) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 17: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 18: Global: Functional Fluids (Bio-based Hydraulic Fluid) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 19: Global: Functional Fluids (Others) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 20: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 21: Global: Functional Fluids (Automotive) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 22: Global: Functional Fluids (Automotive) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 23: Global: Functional Fluids (Metals and Mining) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 24: Global: Functional Fluids (Metals and Mining) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 25: Global: Functional Fluids (Construction) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 26: Global: Functional Fluids (Construction) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 27: Global: Functional Fluids (Transportation) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 28: Global: Functional Fluids (Transportation) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 29: Global: Functional Fluids (Industrial Machinery) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 30: Global: Functional Fluids (Industrial Machinery) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 31: Global: Functional Fluids (Others) Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 32: Global: Functional Fluids (Others) Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 33: North America: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 34: North America: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 35: United States: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 36: United States: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 37: Canada: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 38: Canada: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 39: Asia Pacific: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 40: Asia Pacific: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 41: China: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 42: China: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 43: Japan: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 44: Japan: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 45: India: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 46: India: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 47: South Korea: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 48: South Korea: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 49: Australia: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 50: Australia: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 51: Indonesia: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 52: Indonesia: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 53: Others: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 54: Others: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 55: Europe: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 56: Europe: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 57: Germany: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 58: Germany: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 59: France: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 60: France: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 61: United Kingdom: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 62: United Kingdom: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 63: Italy: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 64: Italy: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 65: Spain: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 66: Spain: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 67: Russia: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 68: Russia: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 69: Others: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 70: Others: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 71: Latin America: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 72: Latin America: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 73: Brazil: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 74: Brazil: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 75: Mexico: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 76: Mexico: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 77: Others: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 78: Others: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 79: Middle East and Africa: Functional Fluids Market: Sales Value (in Million USD), 2019 & 2024
  • Figure 80: Middle East and Africa: Functional Fluids Market Forecast: Sales Value (in Million USD), 2025-2033
  • Figure 81: Global: Functional Fluids Industry: SWOT Analysis
  • Figure 82: Global: Functional Fluids Industry: Value Chain Analysis
  • Figure 83: Global: Functional Fluids Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Functional Fluids Market: Key Industry Highlights, 2024 and 2033
  • Table 2: Global: Functional Fluids Market Forecast: Breakup by Type (in Million USD), 2025-2033
  • Table 3: Global: Functional Fluids Market Forecast: Breakup by Application (in Million USD), 2025-2033
  • Table 4: Global: Functional Fluids Market Forecast: Breakup by Region (in Million USD), 2025-2033
  • Table 5: Global: Functional Fluids Market Structure
  • Table 6: Global: Functional Fluids Market: Key Players
目次
Product Code: SR112025A2203

The global functional fluids market size was valued at USD 48.13 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 70.17 Billion by 2033, exhibiting a CAGR of 3.94% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 42.7% in 2024. The market is expanding due to rapid industrialization, expanding automotive production, and infrastructure growth. Additionally, strong demand from manufacturing, metal processing, and construction sectors, along with the widespread adoption of high-performance lubricants and environmentally friendly formulations, drives the functional fluids market demand in the region.

The functional fluids market is growing due to rising industrial activity, increasing vehicle production, and manufacturing advancements. The automotive sector drives demand for high-performance lubricants, coolants, and transmission fluids to enhance efficiency and meet emission norms. Additionally, construction growth, fueled by infrastructure investments, boosts demand for hydraulic fluids and gear oils. This growth is contributing to the increasing the functional fluids market share, as industries seek advanced solutions for improved performance. Expanding industries like metal processing, power generation, and chemicals further support market expansion. Moreover, functional fluids reduce equipment wear, improve heat transfer, and enhance efficiency. The shift toward bio-based, eco-friendly fluids, driven by regulations and sustainability goals, is accelerating adoption, with industries prioritizing efficiency and durability in specialized formulations.

In the United States, the functional fluids market is growing due to a strong industrial base, increasing automotive production, and demand for high-performance lubricants. The country's automotive sector is investing in fuel-efficient technologies, leading to greater use of advanced lubricants and transmission fluids. Rising infrastructure development and increased activity in metal processing and manufacturing industries are also driving the adoption of functional fluids, contributing to the functional fluids market share. Additionally, stricter environmental regulations are pushing manufacturers toward biodegradable and low-toxicity formulations to ensure compliance while maintaining performance. For instance, in September 2024, Chevron announced the launch of Clarity Bio EliteSyn AW, an advanced hydraulic fluid for the marine and construction industries. It meets strict environmental regulations with >=90% renewable carbon while ensuring high performance, durability, and efficiency, supporting sustainability without compromising quality or operational standards.

Functional Fluids Market Trends:

Expansion in the Construction and Automotive Sectors

Significant growth in the construction and automotive industries is one of the key factors driving the growth of the market. The American Institute of Architects projects 4% growth in non-residential construction in 2024 after a 22% increase in 2023. In January 2024, privately-owned housing permits rose 8.6% year-over-year, indicating renewed growth. In line with this, the widespread adoption of automotive functional fluids, such as antifreeze and engine internal cleaner, that aid in maintaining the optimal performance of the vehicle components, is also contributing to the market growth. Furthermore, the rising demand for high-performance process oils in the industrial metal fabrication sector is providing a boost to the market growth. Functional fluids provide smooth surfaces to the processing unit and improve the performance of the equipment used for manufacturing polymers, fibers, and cables, representing one of the key functional fluids market trends.

Government Regulations and Sustainability Initiatives

The development of bio-based oil is acting as another growth-inducing factor. Owing to the implementation of stringent government regulations, manufacturers are developing environment-friendly functional fluids that are manufactured using vegetable oils. For instance, on December 19, 2024, the Indian government highlighted bioenergy growth initiatives, including the National Bioenergy Programme and Pradhan Mantri JI-VAN Yojana. Ethanol blending cut 557 lakh metric tonnes of CO2. INR 908 Crore supports 2G ethanol projects. "No-Go" areas reduced from 1,366,708 SKM to 24,832 SKM, augmenting exploration. Other factors, such as the increasing adoption of these fluids for packaging, printing, and manufacturing specialty paper, along with rapid industrialization across the globe, are projected to drive the market further, influencing the functional fluids market outlook.

Rising Demand in Industrial and Manufacturing Applications

The industrial sector's need for high-performance functional fluids is growing, particularly in metalworking, polymer processing, and power generation. Process oils improve the performance of manufacturing units producing fibers, cables, and specialty polymers. Additionally, metal fabrication relies on advanced cutting and cooling fluids to enhance machining precision and reduce wear. Industrial expansion and rapid technological advancements are also fueling the adoption of heat transfer and dielectric fluids in energy systems. For instance, as per industry reports, China experienced continued manufacturing expansion with a 1.1% increase in the third quarter of 2024. Furthermore, with industries prioritizing efficiency and durability, the functional fluids market demand in equipment maintenance and process optimization continues to grow, supporting productivity across multiple high-performance manufacturing environments.

Functional Fluids Industry Segmentation:

Analysis by Type:

  • Process Oil
  • Hydraulic and Transmission Fluid
  • Metalworking Fluid
  • Heat Transfer Fluid
  • Coating Fluid
  • Bio-based Hydraulic Fluid
  • Others

Process oil leads the functional fluids market share in 2024, fueled by its extensive use in manufacturing, polymer processing, and rubber production. It plays a crucial role in enhancing material properties, improving lubrication, and ensuring smooth processing in industries such as automotive, textiles, and plastics. The rising demand for high-performance materials, particularly in tire and polymer manufacturing, is accelerating market growth. Additionally, increasing environmental regulations are pushing manufacturers toward low-toxicity and sustainable process oils. Advancements in refining technologies are also improving the quality and efficiency of these oils, making them essential for modern industrial applications that require superior stability, reduced volatility, and enhanced compatibility with advanced materials.

Analysis by Application:

  • Automotive
  • Metals and Mining
  • Construction
  • Transportation
  • Industrial Machinery
  • Others

Industrial machinery leads the market with around 34.2% of market share in 2024, driven by rising manufacturing activities and technological advancements. Functional fluids, including hydraulic fluids, metalworking fluids, and heat transfer fluids, are essential for maintaining machinery efficiency, reducing wear, and enhancing thermal stability. Moreover, expanding industries such as metal fabrication, power generation, and chemical processing are increasing demand for high-performance fluids to improve equipment longevity and operational reliability. Additionally, the shift toward automation and precision engineering is driving the need for specialized lubricants and cooling fluids. With industrial expansion and stringent maintenance standards, the demand for functional fluids in machinery applications continues to grow, ensuring optimal performance and energy efficiency across manufacturing sectors.

Regional Analysis:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

In 2024, Asia-Pacific accounted for the largest market share of over 42.7%, propelled by rapid industrialization, expanding automotive production, and significant infrastructure investments. The region's strong manufacturing base, particularly in metal processing, power generation, and chemical industries, increases demand for high-performance lubricants, hydraulic fluids, and heat transfer fluids. Additionally, growing construction activities, supported by urbanization and government infrastructure projects, further contribute to the functional fluids market growth. Stricter environmental regulations and rising awareness of sustainable solutions are accelerating the adoption of bio-based and low-toxicity functional fluids. Furthermore, advancements in automotive technology and the push for fuel efficiency drive demand for specialized lubricants and transmission fluids, solidifying Asia-Pacific's position as the dominant market for functional fluids globally.

Key Regional Takeaways:

United States Functional Fluids Market Analysis

In 2024, United States accounted for 83.20% of the market share in North America. The functional fluids market in the United States is growing due to strong demand from the automotive, aerospace, and manufacturing industries. Increased vehicle production and stringent emission regulations drive the need for high-performance lubricants and hydraulic fluids. The electric vehicle (EV) sector further accelerates the market, particularly with innovations in dielectric fluids for battery cooling. According to the U.S. Energy Information Administration, in 2Q 2024, U.S. electric and hybrid vehicle sales increased to 18.7% from 17.8% in 1Q24. Hybrid sales grew by 30.7% year over year, reaching 9.6% of the market, while plug-in hybrid sales rose to 2.0%. BEVs maintained a 7.1% share, with luxury EVs accounting for 32.8% of luxury vehicle sales. Luxury vehicles comprised 73.8% of BEV sales, 8.3% of hybrid sales, and 29.2% of plug-in hybrid sales. The oil and gas sector contributes significantly to the demand for drilling and transmission fluids, while bio-based alternatives gain traction due to sustainability goals. With advancements in industrial automation and machinery, the need for high-performance functional fluids in metalworking and heat transfer applications continues to rise. Key players focus on research and development (R&D) to meet changing efficiency and environmental standards, ensuring long-term market expansion.

North America Functional Fluids Market Analysis

The North America functional fluids market is expanding due to strong industrial growth, rising vehicle production, and increasing infrastructure development. For instance, according to industry reports, in 2024, motor vehicle production in North America totaled 15.6 Million units, reflecting a 9.6% increase from 2022. The automotive sector is a key driver, with demand for advanced lubricants, coolants, and transmission fluids to improve efficiency and comply with stringent emission standards. Moreover, expanding manufacturing activities, particularly in metal processing, power generation, and aerospace, further boost market demand. Stringent environmental regulations are also accelerating the adoption of bio-based and low-toxicity fluids. Additionally, technological advancements in synthetic lubricants and heat transfer fluids are enhancing equipment performance, driving market growth across industrial, automotive, and construction applications in the region.

Europe Functional Fluids Market Analysis

The functional fluids market in Europe is expanding, given the strict environmental regulations and a growing emphasis on sustainability and energy efficiency. The automotive sector, particularly in Germany, France, and the UK, significantly influences demand for lubricants, transmission fluids, and heat transfer fluids. The increasing adoption of electric vehicles (EVs) is driving research into advanced thermal management fluids. Germany produced 4.1 million passenger cars in 2024, maintaining the same levels as 2023, according to the German automobile association VDA. Domestic orders from German manufacturers rose by 12% year-over-year, with December showing a 35% increase. The industrial sector, including metal processing and manufacturing, also fuels the demand for functional fluids, with biodegradable and low-toxicity formulations gaining traction. The European Union's carbon reduction policies drive innovation in synthetic and bio-based fluids, encouraging investments in circular economy initiatives that promote recycling and reuse, ensuring long-term market sustainability.

Asia Pacific Functional Fluids Market Analysis

Asia Pacific leads the global market, driven by rapid industrialization and strong automotive manufacturing in China, India, Japan, and South Korea. The expanding construction sector fuels demand for hydraulic and metalworking fluids, while urbanization supports growth in refrigeration and heat transfer applications. Furthermore, the rising middle-class population augments vehicle ownership, increasing demand for high-performance lubricants. Reports estimates the middle-class population in emerging markets will double from 354 million households in 2024 to 687 million by 2034, with China accounting for nearly 50%. India's middle class will be than double in five years. In addition to this, China's push for EV adoption fosters research into dielectric and thermal management fluids. Governments are promoting sustainable industrial practices, increasing demand for bio-based and low-emission functional fluids. Besides this, international companies are expanding their production capacities to meet growing domestic and export demand, ensuring sustained market growth.

Latin America Functional Fluids Market Analysis

Latin America's functional fluids market flourishes on demand from the automotive, mining, and oil and gas industries, especially in Brazil, Mexico, and Argentina. Expanding manufacturing and heavy industries drive the need for hydraulic and metalworking fluids, while increasing vehicle ownership augments lubricant consumption. The region's vast natural resources support growth, with Latin America and the Caribbean holding nearly 20% of global oil reserves, 25% of some strategic metals, and over 30% of the world's virgin forests, according to a UN report. Natural resource-based activities contribute 12% of value added, 16% of employment, and 50% of exports. Environmental concerns encourage biodegradable and synthetic alternatives, while government regulations push for sustainable solutions. Companies invest in local production to reduce import dependency and improve supply chain efficiency.

Middle East and Africa Functional Fluids Market Analysis

The market in the Middle East and Africa (MEA) is propelled by the oil and gas sector, supporting demand for drilling fluids, hydraulic oils, and transmission fluids. Industrialization and infrastructure growth in the UAE, Saudi Arabia, and South Africa fuel have increased consumption of lubricants and heat transfer fluids. Although smaller than other regions, the automotive market is expanding, encouraging demand for engine and transmission fluids. Sustainability efforts and regulations promote bio-based and synthetic alternatives. For example, on November 26, 2024, Saudi Arabia launched its first national energy and petrochemicals committee under FSC. With USD 600 Billion in projected investments by 2030, it targets 50% renewable energy capacity and 75% local content. The petrochemical sector, producing 118 million tons annually, contributes 40% to Saudi Arabia's GDP. Thus, favoring the market for functional fluids.

Competitive Landscape:

The market for functional fluids is very competitive, with major players focusing on product development, sustainability, and strategic alliances. Key players invest in state-of-the-art formulations to maximize performance and efficiency. Moreover, increasing demand for bio-based and low-emission fluids is fueling research and development activities. However, mergers and acquisitions, and joint ventures enhance market presence and increase global outreach. For instance, in May 2024, LEHVOSS Functional Fluids announced partnership to distribute Emery Oleochemicals products across Europe. The collaboration focuses on biogenic esters, primarily used in lubricants, greases, EV fluids, and metalworking fluids, under the DEHYLUB and EMEROX brands. Additionally, regional players compete by providing niche solutions customized for industrial and automotive uses. Besides this, regulatory compliance and sustainability objectives are informing market strategies, with producers focusing on environmentally friendly formulations to address the changing industry standards as well as customer expectations.

The report provides a comprehensive analysis of the competitive landscape in the functional fluids market with detailed profiles of all major companies, including:

  • BASF SE
  • BP International Limited
  • Chevron Corporation
  • Croda International Plc
  • Exxon Mobil
  • FUCHS PETROLUB SE
  • Huntsman International LLC (Indorama Ventures Public Co. Ltd.)
  • Idemitsu Kosan Co., Ltd.
  • Petroliam Nasional Berhad (PETRONAS)
  • Shell International B.V.
  • The Dow Chemical Company

Key Questions Answered in This Report

  • 1.How big is the functional fluids market?
  • 2.What is the future outlook of functional fluids market?
  • 3.What are the key factors driving the functional fluids market?
  • 4.Which region accounts for the largest functional fluids market share?
  • 5.Which are the leading companies in the global functional fluids market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Functional Fluids Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 Process Oil
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Hydraulic and Transmission Fluid
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Metalworking Fluid
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Heat Transfer Fluid
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast
  • 6.5 Coating Fluid
    • 6.5.1 Market Trends
    • 6.5.2 Market Forecast
  • 6.6 Bio-based Hydraulic Fluid
    • 6.6.1 Market Trends
    • 6.6.2 Market Forecast
  • 6.7 Others
    • 6.7.1 Market Trends
    • 6.7.2 Market Forecast

7 Market Breakup by Application

  • 7.1 Automotive
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Metals and Mining
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Construction
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Transportation
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast
  • 7.5 Industrial Machinery
    • 7.5.1 Market Trends
    • 7.5.2 Market Forecast
  • 7.6 Others
    • 7.6.1 Market Trends
    • 7.6.2 Market Forecast

8 Market Breakup by Region

  • 8.1 North America
    • 8.1.1 United States
      • 8.1.1.1 Market Trends
      • 8.1.1.2 Market Forecast
    • 8.1.2 Canada
      • 8.1.2.1 Market Trends
      • 8.1.2.2 Market Forecast
  • 8.2 Asia Pacific
    • 8.2.1 China
      • 8.2.1.1 Market Trends
      • 8.2.1.2 Market Forecast
    • 8.2.2 Japan
      • 8.2.2.1 Market Trends
      • 8.2.2.2 Market Forecast
    • 8.2.3 India
      • 8.2.3.1 Market Trends
      • 8.2.3.2 Market Forecast
    • 8.2.4 South Korea
      • 8.2.4.1 Market Trends
      • 8.2.4.2 Market Forecast
    • 8.2.5 Australia
      • 8.2.5.1 Market Trends
      • 8.2.5.2 Market Forecast
    • 8.2.6 Indonesia
      • 8.2.6.1 Market Trends
      • 8.2.6.2 Market Forecast
    • 8.2.7 Others
      • 8.2.7.1 Market Trends
      • 8.2.7.2 Market Forecast
  • 8.3 Europe
    • 8.3.1 Germany
      • 8.3.1.1 Market Trends
      • 8.3.1.2 Market Forecast
    • 8.3.2 France
      • 8.3.2.1 Market Trends
      • 8.3.2.2 Market Forecast
    • 8.3.3 United Kingdom
      • 8.3.3.1 Market Trends
      • 8.3.3.2 Market Forecast
    • 8.3.4 Italy
      • 8.3.4.1 Market Trends
      • 8.3.4.2 Market Forecast
    • 8.3.5 Spain
      • 8.3.5.1 Market Trends
      • 8.3.5.2 Market Forecast
    • 8.3.6 Russia
      • 8.3.6.1 Market Trends
      • 8.3.6.2 Market Forecast
    • 8.3.7 Others
      • 8.3.7.1 Market Trends
      • 8.3.7.2 Market Forecast
  • 8.4 Latin America
    • 8.4.1 Brazil
      • 8.4.1.1 Market Trends
      • 8.4.1.2 Market Forecast
    • 8.4.2 Mexico
      • 8.4.2.1 Market Trends
      • 8.4.2.2 Market Forecast
    • 8.4.3 Others
      • 8.4.3.1 Market Trends
      • 8.4.3.2 Market Forecast
  • 8.5 Middle East and Africa
    • 8.5.1 Market Trends
    • 8.5.2 Market Breakup by Country
    • 8.5.3 Market Forecast

9 SWOT Analysis

  • 9.1 Overview
  • 9.2 Strengths
  • 9.3 Weaknesses
  • 9.4 Opportunities
  • 9.5 Threats

10 Value Chain Analysis

11 Porters Five Forces Analysis

  • 11.1 Overview
  • 11.2 Bargaining Power of Buyers
  • 11.3 Bargaining Power of Suppliers
  • 11.4 Degree of Competition
  • 11.5 Threat of New Entrants
  • 11.6 Threat of Substitutes

12 Price Indicators

13 Competitive Landscape

  • 13.1 Market Structure
  • 13.2 Key Players
  • 13.3 Profiles of Key Players
    • 13.3.1 BASF SE
      • 13.3.1.1 Company Overview
      • 13.3.1.2 Product Portfolio
      • 13.3.1.3 Financials
      • 13.3.1.4 SWOT Analysis
    • 13.3.2 BP International Limited
      • 13.3.2.1 Company Overview
      • 13.3.2.2 Product Portfolio
      • 13.3.2.3 Financials
      • 13.3.2.4 SWOT Analysis
    • 13.3.3 Chevron Corporation
      • 13.3.3.1 Company Overview
      • 13.3.3.2 Product Portfolio
      • 13.3.3.3 Financials
      • 13.3.3.4 SWOT Analysis
    • 13.3.4 Croda International Plc
      • 13.3.4.1 Company Overview
      • 13.3.4.2 Product Portfolio
      • 13.3.4.3 Financials
      • 13.3.4.4 SWOT Analysis
    • 13.3.5 Exxon Mobil
      • 13.3.5.1 Company Overview
      • 13.3.5.2 Product Portfolio
      • 13.3.5.3 Financials
      • 13.3.5.4 SWOT Analysis
    • 13.3.6 FUCHS PETROLUB SE
      • 13.3.6.1 Company Overview
      • 13.3.6.2 Product Portfolio
      • 13.3.6.3 Financials
      • 13.3.6.4 SWOT Analysis
    • 13.3.7 Huntsman International LLC (Indorama Ventures Public Co. Ltd.)
      • 13.3.7.1 Company Overview
      • 13.3.7.2 Product Portfolio
    • 13.3.8 Idemitsu Kosan Co. Ltd.
      • 13.3.8.1 Company Overview
      • 13.3.8.2 Product Portfolio
      • 13.3.8.3 Financials
      • 13.3.8.4 SWOT Analysis
    • 13.3.9 Petroliam Nasional Berhad (PETRONAS)
      • 13.3.9.1 Company Overview
      • 13.3.9.2 Product Portfolio
      • 13.3.9.3 SWOT Analysis
    • 13.3.10 Shell International B.V.
      • 13.3.10.1 Company Overview
      • 13.3.10.2 Product Portfolio
      • 13.3.10.3 Financials
    • 13.3.11 The Dow Chemical Company
      • 13.3.11.1 Company Overview
      • 13.3.11.2 Product Portfolio