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Automotive Brake Fluid Market was valued at USD 832.32 billion in 2019 and it is expected to grow from USD 848.9 billion and reach at USD 994.7 billion by 2031, at a CAGR of 2% over the forecast period (2024-2031).

The automotive brake fluid market is a highly competitive and rapidly changing market. In order to sustain in this industry, companies are constantly innovating and adapting to the ever-changing landscape. Some of the ways that companies are sustaining in the automotive braking fluid industry include: 'BASF SE', 'Chevron Corporation', 'Exxon Mobil Corporation', 'Royal Dutch Shell PLC (Netherlands/UK)', 'BP PLC (UK)', 'TotalEnergies SE (France)', 'China Petrochemical Corporation (China)', 'Idemitsu Kosan Co., Ltd. (Japan)', 'Phillips 66 Company (US)', 'FUCHS Group (Germany)', 'Valvoline Inc. (US)', 'Petronas Lubricants International Sdn Bhd (Malaysia)', 'Castrol (UK)', 'Indian Oil Corporation Limited (India)', 'Sinopec Lubricant Company (China)', 'JXTG Nippon Oil & Energy Corporation (Japan)', 'Motul (France)', 'Morris Lubricants (UK)', 'Houghton International Inc. (US)', 'Repsol S.A. (Spain)'

Population growth and urbanization: As the world's population continues to grow and more people move into cities, the demand for vehicles will grow, so does the automotive brake fluid market.

Increased focus on performance – As vehicles become more powerful and capable, there is an increased demand for fluids that can handle the added stress and provide optimal performance. This has led to the development of new formulations that can withstand higher temperatures and pressures, delivering improved braking feel and response. As a result, the trending adding more fuel to the growth of automotive brake fluid market.

The Asia Pacific automotive brake fluid market is anticipated to grow at a CAGR of 5% over the forecast period of 2022-2028. The region is expected to dominate the market owing to the presence of major players in the region and rise in vehicle production. Moreover, countries such as China and India are witnessing rapid urbanization and economic development, which is further fuelling the growth of the automotive industry in the region.

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Global Automotive Brake Fluid Market

Product ID: SQSG25A2006