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Increasing Demand from Mining and Construction Sectors
The mining and construction industries have also witnessed steady growth worldwide on the back of rising infrastructure development and urbanization. Massive investments are being made in developing roadways, rail networks, buildings, power projects and other civil engineering structures. At the same time, demand for minerals and ores required for manufacturing activities has grown manifold. Surface and underground mining operations involve usage of heavy earthmoving machinery exposed to risk of ignition from hydraulic leakages and malfunctions. Similarly, construction sites utilize various equipment, vehicles, cranes and tools operating under remote or congested conditions. Even a small fire outbreak can lead to large damage of property and risks to human life. To overcome these challenges, fire resistant hydraulic fluids are gaining widespread acceptance. Their self-extinguishing properties provide effective protection against potential fires. Major mining and construction equipment OEMs have updated their product guidelines recommending usage of these specialized fluids. This is expected to further propel their sales across various end-use industries globally. With developing economies ramping up infrastructure spending and mining output to fuel industrial growth, demand from this sector will remain robust in the coming years.
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