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Automotive Brake Fluid Market Trends

ID: MRFR//6105-HCR | 100 Pages | Author: Sejal Akre| July 2024

Automotive Brake Fluid Market Overview:

The Automotive Brake Fluid market industry is projected to grow from USD 1.36 Billion in 2024 to USD 1.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.22% during the forecast period (2024–2032). Automotive Brake Fluid Market Size was valued at USD 1.3 Billion in 2023. The global growth of automobiles, auto service providers, and original equipment manufacturers (OEMs) as well as the expanding demand in the automotive industry, are the key market drivers enhancing the market growth.

Automotive Brake Fluid Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Brake Fluid Market Trends

  • Increasing demand from light commercial vehicles is driving the market growth

All types of vehicles, including motorcycles, tractors, light and large commercial vehicles, and passenger cars, employ brake fluid, a form of hydraulic fluid. Electric cars make use of brake fluid. The current rise in the manufacture of electric vehicles is mostly due to government programs supporting low-emission and environmentally friendly automobiles as well as rising consumer awareness. Furthermore, car customers are finding it simpler to finance electric vehicles because to falling battery prices and government incentives.

Tesla, General Motors, Toyota, BME, Nissan, Ford, and Volkswagen are just a few of the international automakers making investments in electric vehicles. In the following five to ten years, these investments are anticipated to pay off. Due to the slowdown in the automobile industry during the course of the forecast period, the demand for brake fluids is anticipated to increase significantly.

There is a rising need for high performance fluids for automotive applications due to ongoing innovations and technological improvements in the automotive sector. Leading businesses strive to provide cutting-edge solutions that adhere to industry standards and requirements. For instance, BASF's HYDRAULAN® braking fluids are created to balance the strict safety standards needed by customers with the industry's present and future needs. High thermal stability, enhanced metal corrosion prevention, very low viscosity at low temperatures, improved elastomer compatibility, and superior lubrication are all features of the solution.

Valvoline announced the introduction of XEV in 2021, the company's first hybrid, plug-in hybrid, and pure electric car product line to be based in China. A collection of hybrid and electric vehicle fluids known as XEV includes brake fluids along with engine oil, battery protection fluid, and gearbox fluid. A product line for electric vehicles, including Valvoline EV Brake Fluid, was introduced by Valvoline in 2019. The formulations were designed for modern anti-lock brake systems (ABS), electronic stability programs (ESP), and advanced driver assistance systems (ADAS), and they had high wet and dry boiling points, brake fade reduction, noise elimination, and low viscosity at low temperatures. Thus, driving the Automotive Brake Fluid market revenue.

Automotive Brake Fluid Market Segment Insights:

Automotive Brake Fluid: Fluid Type Insights

The Automotive Brake Fluid Market segmentation, based on Fluid Type, includes petroleum and non-petroleum. Due to the rising demand for petroleum-based automotive brake fluid, the petroleum category held the majority of the global market share in 2022 and is predicted to continue doing so over the projected period.

Automotive Brake Fluid Product Type Insights

The Automotive Brake Fluid Market segmentation, based on Product Type, includes castor oil based, glycol based, and silicone based. Since glycol-based oil is less likely to absorb moisture than other types of brake fluid, it currently dominates the global market for vehicle brake fluid. This implies that it won't corrode the parts of your brake system as soon.

Automotive Brake Fluid Vehicle Type Insights

The Automotive Brake Fluid Market segmentation, based on vehicle type, includes passenger car, commercial vehicle, and off road vehicle. In 2022, the commercial vehicle sector led the global market for automotive brake fluid. Commercial vehicles often need more brake fluid to function effectively than passenger automobiles because they are heavier and typically bigger.

Automotive Brake Fluid Sales Channel Insights

The Automotive Brake Fluid Market segmentation, based on sales channel, includes OEM and aftermarket. OEM segment dominated the global market in 2022. This can be attributed to the increasing vehicle sales.

Figure 1: Automotive Brake Fluid Market, by Sales Channel, 2022 & 2032 (USD Billion)

Automotive Brake Fluid Market, by Sales Channel, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Automotive Brake Fluid Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Automotive Brake Fluid market, dominated this market in 2022 (45.80%), due to the increased production of vehicles and the presence of key players in the area. A second factor boosting the expansion of the automobile sector in the region is the swift urbanization and economic development occurring in nations like China and India. The governments have implemented policies that are supportive of the use of electric vehicles and the development of the industry supporting them. Consequently, it is projected that throughout the forecast period, this will significantly boost the market for electric vehicles in the Asia-Pacific region. Moreover, China’s Automotive Brake Fluid market held the largest market share, and the Indian Automotive Brake Fluid market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Automotive Brake Fluid Market Share By Region 2022 (USD Billion)

 Automotive Brake Fluid Market Share By Region 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Automotive Brake Fluid Market is expected to register significant growth from 2023 to 2032. The growth of the North American automotive brake fluid market is being driven in large part by the rising demand for vehicles with sophisticated safety features. Government rules governing minimum vehicle safety standards are also essential in fostering industry expansion. Further, the U.S. Automotive Brake Fluid market held the largest market share, and the Canada Automotive Brake Fluid market was the fastest growing market in the North America region.

Europe Automotive Brake Fluid market accounts for the second-largest market share, Due to the high rate of automotive brake fluid adoption and the growth of the automotive industry in the area, there has been a surge in the manufacture of automobiles using automotive brake fluid, particularly in Germany and the U.K. Further, the German Automotive Brake Fluid market held the largest market share, and the U.K Automotive Brake Fluid market was the fastest growing market in the European region

Automotive Brake Fluid Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Brake Fluid market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Brake Fluid industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Brake Fluid industry to benefit clients and increase the market sector. In recent years, the Automotive Brake Fluid industry has offered some of the most significant advantages to medicine. Major players in the Automotive Brake Fluid market, including Robert Bosch GmbH, The China National Petroleum Corporation, Castrol, Exxon Mobil Corporation, Fuchs Petrolub SE, Royal Dutch Shell plc, China Petroleum & Chemical Corporation, Total S.A., Chevron Corporation, and Qingdao Copton Technology Company Limited, are attempting to increase market demand by investing in research and development operations.

Brakes India Private Limited is a pan-Indian corporation that serves all important clients, including several large international players in the automobile industry. Brakes India Private Limited, a member of the TVS-Santhanam group with more than 50 years of history and extensive experience, is preparing for the future to take advantage of opportunities. Since its founding in 1962, Brakes India has developed into India's top provider of brake systems. With characteristics such a higher boiling point (over 255 degrees Celsius), low viscosity (above -40 degrees Celsius), and compliance with SAE J1704, FMVSS 116, and IS 8654 requirements, DOT 4+ brake and clutch fluid was introduced by Brakes India in 2019. The corporation claims that the solution was developed using substantial internal expertise and that fluids were tested in accordance with stringent guidelines.

Automobile component manufacturer Dexko Global Inc. The company provides shock absorbers, gas springs, trailer parts, axles, brakes, chassis, gear components, and systems. Worldwide clientele are served by Dexko Global. The company supplies axles, chassis, and other parts to manufacturers of trailers, recreational vehicles, and towable equipment all over the world through its two main subsidiaries (Dexter in the United States and AL-KO Vehicle Technology in Europe). Dexko announced plans to purchase Fluid-Press Group in July 2022.

Key Companies in the Automotive Brake Fluid market include

  • Robert Bosch GmbH

  • The China National Petroleum Corporation

  • Castrol

  • Exxon Mobil Corporation

  • Fuchs Petrolub SE

  • Royal Dutch Shell plc

  • China Petroleum & Chemical Corporation

  • Total S.A.

  • Chevron Corporation

  • Qingdao Copton Technology Company Limited

Automotive Brake Fluid Industry Developments

December 2023: Brenntag, a distributor of brake fluid, chemicals and ingredients, has announced its acquisition of Solventis Group. Solventis Group specializes in the distribution of glycols and solvents and operates from Antwerp, Belgium and the UK.

The acquisition enhances Brenntag Essentials' sustainability profile by increasing sourcing through ships and barges and expanding supply and delivery options via rail transport. The strategically positioned Antwerp site further strengthens this improvement. Furthermore, Solventis' expertise in glycol recovery and recycling contributes to Brenntag's commitment to sustainability.

"Brenntag Essentials offers a cost-effective network of last mile service operations, along with regional sourcing and supply chain services and global sourcing," stated Ewout van Jarwaarde, CEO of Brenntag Essentials.

"Solventis Group aligns perfectly with our strategy, enhancing our capabilities and providing additional volume options through their advanced facility in Antwerp. This also opens up opportunities for optimization across regions." The acquisition will enhance our ability to connect with supply markets around the world and bolster our position in the EMEA region, bringing us closer to our customers," Jarwaarde commented.

In 2022, Solventis Group achieved annual sales of over 300 million EUR. Focusing on distributing glycols and solvents, Solventis Group offers customized solutions to customers around the world. In addition to a site in Scunthorpe, UK, the company also operates a purpose-built facility in the port of Antwerp, Belgium. This facility is located in a major European chemicals hub and is involved in advanced blending, storage, packing, distribution, and chemical recycling.

David Lubbock, owner and chief executive officer of the Solventis Group, expressed optimism about Brenntag's wide global reach and diverse product and service portfolio's potential benefits for its network of suppliers and customers.

"We are excited to join the growing Brenntag Essentials platform and provide our wide range of products, such as glycols, solvents, and automotive products like coolants, antifreeze, brake fluids, and de-icing fluids, to customers around the world," Lubbock expressed.

May 2022: With the introduction of TRW brake fluid, ZF Aftermarket announced the debut of its new product and solution portfolio. This brake fluid improves pedal feel and braking comfort in all ABS (Anti-lock Braking System), disc, and drum brake cars while also having a high water tolerance feature.

July 2021: PLZ Aeroscience acquired Champion Brands, a lubricant supplier.

Automotive Brake Fluid Market Segmentation:

Automotive Brake Fluid: Fluid Type Outlook

  • Petroleum

  • Non Petroleum

Automotive Brake Fluid Product Type Outlook

  • Castor Oil Based

  • Glycol Based

  • Silicone Based

Automotive Brake Fluid Vehicle Type Outlook

  • Passenger Car

  • Commercial Vehicle

  • Off Road Vehicle

Automotive Brake Fluid Sales Channel Outlook

  • OEM

  • Aftermarket

Automotive Brake Fluid Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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