Automotive Brake Fluid Market, Revenue, Growth Rate, Application, Sales, Trends and Forecast to 2030
Automotive Brake Fluid Market Highlights Automotive brake fluids are the basis, on which hydraulic braking systems work. These braking systems have witnessed increased applications in modern vehicles, in comparison with mechanical brake systems. Automotive brake fluids are characterized by extreme boiling and freezing points, in order to maintain their flexibility in all weather conditions. While doing so, special care is taken so that the rubber components in the braking system are not damaged. The global automotive brake fluid market is estimated to witness a 5% CAGR during the forecast period. Growing production and sales of Sports Utility Vehicles (SUVs) and crossovers have resulted in an increase in demand for brake fluids. These vehicles, due to their robust nature, require frequent replacement of brake fluids, resulting in an increase in demand for fluids. This phenomenon is particularly observed in China, where a tremendous rise in the number of SUVs has been witnes...