Fort Collins, Colorado, May 09, 2024 (GLOBE NEWSWIRE) --
The growing demand for automotive brake fluids has been encouraging in the past. Future projections indicate a preference for eco-friendly alternatives and sustainable oil products.
The automotive brake fluid market is witnessing significant opportunities propelled by the growing emphasis on environmental sustainability. Manufacturers are directing their efforts towards developing eco-friendly and bio-based brake fluids to mitigate the environmental impact of vehicles. Bio-based brake fluids, sourced from renewable materials such as plant oils, emerge as a sustainable alternative to conventional petroleum-based fluids. The United States Department of Agriculture (USDA) has been actively supporting research and development endeavors in bio-based products, including automotive fluids, through its BioPreferred program. This initiative aims to boost the utilization of renewable agricultural materials and reduce dependence on petroleum.
As consumer preferences increasingly gravitate towards environmentally friendly products and governments advocate for sustainable practices, the demand for eco-friendly and bio-based brake fluids is poised to escalate. This shift is expected to unlock new opportunities in the market, driving further innovation and adoption of sustainable solutions in the automotive sector.
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Segmentation Overview:
The automotive brake fluid market has been segmented into type, vehicle type, sales channel, and region.
Passenger cars are the leading segment for a vehicle type and are projected to retain a leading share.
- Passenger cars are the largest segment in the automotive brake fluid market by vehicle type. They account for the majority of vehicles on the road globally, and their production and sales volumes significantly outpace those of commercial vehicles and other vehicle types.
DOT-4 Glycol accounted for a massive growth in 2023.
- In 2023, DOT-4 Glycol was the largest segment in the automotive brake fluid market. DOT-4 brake fluids are widely used in modern vehicles due to their higher boiling points and better performance than DOT-3 fluids. The increased adoption of advanced braking systems, such as anti-lock braking systems (ABS) and electronic stability control (ESC), has further driven the demand for DOT-4 brake fluids.
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Automotive Brake Fluid Market Report Highlights:
- The automotive brake fluid market growth is anticipated at a CAGR of 5.1% by 2032.
- The rise in demand for high-performance vehicles drives the automotive brake fluids market.
- The Asia-Pacific region, particularly China, has been the largest market for automotive brake fluids in recent years.
- Some prominent players in the automotive brake fluid market report include Robert Bosch GmbH, Castrol Limited, Exxon Mobil Corporation, Fuchs Petrolub SE, China Petrochemical Corporation (Sinopec), Total S.A., BP p.l.c., Royal Dutch Shell plc, PetroChina Company Limited, BASF SE, MOTUL, and CCI Corporation.
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