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Fire Resistant Lubricants Market Size & Share to Surpass $2.61 Billion by 2030 | Vantage Market Research

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WASHINGTON, April 25, 2023 (GLOBE NEWSWIRE) — The Global Fire Resistant Lubricants Market is valued at USD 2.1 Billion in 2022 and is projected to reach a value of USD 2.61 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.2% over the forecast period 2022-2028.

Market Overview

The global market is expanding due to successful development in countries, rising demand from the oil and gas industry, rising demand from various industries, particularly the construction and auto sectors, and emerging economies’ entrepreneurial endeavours.

We forecast that the HFC in Fire Resistant Lubricants market sales will account for more than 46% of total sales by 2030 because HFC Fire Resistant Lubricants are typically less expensive than other Fire Resistant Lubricants. So, HFC Fire Resistant Lubricants are commonly used in areas where prices are critical, such as Asia Pacific, South America, and the Middle East & Africa.

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Market Dynamics

Increase Adoption in Automotive to Support Market Expansion
Due to the rising production of off-highway vehicles, the automotive industry expects the demand for hydraulic fluids to increase throughout the forecast period. Furthermore, technological developments in automobile suspension and brake systems and the growing use of electronics in cars would accelerate market expansion.

Increased Demand in Die Casting in the Fire Resistant Lubricants Industry Drives Market Growth.
Die casting is a method of manufacture used to melt high-temperature molten iron, steel, and aluminium; there is a considerable fire risk during this process. As a result, during the die-casting process, Fire Resistant Lubricants are used as a cooling agent to protect against fire. Also, fire-resistant mechanical strong thermal characteristics ensure the safe drying of metals during the die-casting process. As a result, the market for fire-resistant products is expanding more quickly due to the rising need for Fire Resistant Lubricants for die-casting applications.

Top Players in the Global Fire Resistant Lubricants Market

  • American Chemical Technologies Inc. (U.S.)
  • BASF SE (U.S.)
  • Castrol (Pangbourne, U.K.)
  • The Dow Company (U.S.)
  • Eastman Chemical Company (Kingsport, U.S.)
  • Exxon Mobil Corporation (U.S.)
  • Houghton International Inc (Pennsylvania, U.S.)
  • Hidemitsu Kosan Co. Ltd (Chiyoda City, Japan)
  • MORESCO Corporation (Japan)
  • Quaker Chemical Corporation (U.S.)
  • Southwestern Petroleum Lubricants LLC (Texas, U.S.)

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Top Trends in the Global Fire Resistant Lubricants Market

  • One trend that Vantage Market Research (VMR) expects to see in the Fire Resistant Lubricants industry is the Increasing number of Mining Projects. Fire Resistant Lubricants are used in the mining industry to prevent fire mishaps and provide greater worker safety. The rise in new mining projects worldwide fuels the desire for fresh equipment. This further creates an opportunity for the market for Fire Resistant Lubricants to expand.
  • Another trend that VMR predicts will continue in the Fire Resistant Lubricants industry is its increasing trend of using HFDR. HFDU is a premium natural ester base oil-based hydraulic fluid that resists fire. For use in all applications needing a Factory Assurance-approved fire-resistant fluid, HFDU is a great pro-government hydraulic fluid. Moreover, water-based fire-resistant hydraulic fluids must have their pH levels, corrosivity, wear a condom, monitored storage time, and shelf life evaluated regularly.

Top Report Findings

  • Based on the Type, most of the Fire Resistant Lubricants market’s revenue is controlled by the HFC category. The main usage of HFCs, generated artificially, is as refrigerants. With the adoption of the Montreal Protocol, which phased out the use of chemicals like chlorofluorocarbons and perfluorocarbons (CFCs), which destroyed the ozone layer on planet Earth, they started to be widely employed for this purpose starting in the late 1980s.
  • Based on Application, the power generation category controls most of the Fire Resistant Lubricants market’s revenue. Oil leaks in power production methods and operations such as steam/gas rotors, divert equipment, and electrohydraulic control systems (EHC) are a considerable risk. Therefore, the power generation industry uses Fire Resistant Lubricants to ensure these systems are fire-resistant. The market will expand due to rising renewable energy projects and power generation using renewable resources.

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Recent Developments in the Global Fire Resistant Lubricants Market

  • In February 2022- A synthetic fire-resistant hydraulic fluid was added to the product line of Bio Blend Renewable Resources, LLC, a market leader in sustainable lubricating oils and greases.
  • In September 2020- A next-generation phosphate ester generated from sustainable sources, Hosta hat 1738, was introduced by global chemical manufacturer Clariant for metalworking applications. This product is a fire-resistant hydraulic fluid in the metallurgy sector.

HFC Category in Fire Resistant Lubricants Market to Generate Closed to half the Revenue from Type Segment
For better understanding, based on the Type, the Fire Resistant Lubricants market is divided into HFA, HFB, HFC, HFDU and HFDR.

The HFC market was the largest by application and is anticipated to hold the top spot during the projected period. Fire Resistant Lubricants are widely used in confections, sauces, baked goods, and other foods as a preservative, flavouring ingredient, taste enhancer, or taste modifier. Due to rising populations, the popularity of flavoured carbonated drinks, and the growth in product launches by beverage producers, the beverages market is one of the fastest expanding industries worldwide.

On the other hand, the HFDU category is anticipated to grow significantly. Fire-resistant hydraulic fluids have been created to substitute petroleum-based fluids in applications with an ignition source. Hydraulic fluids with fire resistance are premium quality lubricants that do not spread fire from an ignition point and are more difficult to ignite. The global market for resistance hydraulic fluids is expanding due to rising demand from various industries, notably the automotive and building sectors, and the company’s output of developing nations.

Asia Pacific Region in Fire Resistant Lubricants Market to Generate the Major Chunk of the Global Revenue
The Asia Pacific region is anticipated to do so in the coming years. Asia Pacific is a desirable market for Fire Resistant Lubricants due to rising disposable income and the rapid rise of the region’s developing markets. The growing use of Fire Resistant Lubricants, fuelling market expansion, is mostly due to increased trade and the phenomenal growth in metal production.

The North American region is expected to grow the fastest in the Fire Resistant Lubricants market. The need for industrial lubricants in the region is fuelled by factors like increasing investments in manufacturing and construction, SME sector expansion, and new domestic and foreign competitors. Also, rapid growth for petroleum-based fuels and expanding sales of passenger cars and trucks in the area contribute to the market’s expansion.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Fire Resistant Lubricants Market Forecast Report (2023-2030).

Global Fire Resistant Lubricants Market Segmentation

Based on Type

  • HFA
  • HFB
  • HFC
  • HFDU
  • HFDR

Based on End-Use

  • Metal Processing
  • Mining
  • Power Generation
  • Aerospace
  • Marine
  • Construction
  • Other End Uses

By Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-East Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/fire-resistant-lubricants-market-2091

Scope of the Report:    

Report Attributes Details
Market Size in 2022 USD 2.1 Billion
Revenue Forecast by 2030 USD 2.61 Billion
CAGR 3.2% from 2023 to 2030
Base Year 2022
Forecast Year 2023 to 2030
Key Players American Chemical Technologies Inc., BASF SE, Castrol, The Dow Company, Eastman Chemical Company, Exxon Mobil Corporation, Houghton International Inc, Hidemitsu Kosan Co. Ltd, MORESCO Corporation, Quaker Chemical Corporation, Southwestern Petroleum Lubricants LLC
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/fire-resistant-lubricants-market-2091/request-sample

Key Questions Answered in the Fire Resistant Lubricants Market Report are:

  • What is the size and growth rate of the fire resistant lubricants market, and what are the factors driving this growth?
  • What are the different types of fire resistant lubricants available in the market, and how do they compare in terms of performance and cost?
  • What are the major end-use industries for fire resistant lubricants, and how are they expected to evolve in the future?
  • What are the regulatory and safety standards governing the use of fire resistant lubricants, and how are they impacting market growth and innovation?
  • Who are the major players operating in the fire resistant lubricants market, and what are their market shares and competitive strategies?
  • What are the key trends and challenges facing the fire resistant lubricants market, and how are market players addressing them?
  • What are the opportunities and potential growth areas in the fire resistant lubricants market, and how can companies capitalize on them?

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Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD

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DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.

During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide

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WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.

In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development               
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants.  Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
About Meister Media Worldwide
For media inquiries, please contact:Amy Reddington, Show Director
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Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth

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USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ —  USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).

The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update  on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming:  In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure”, said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s  LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
 CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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