The global metalworking fluids market size is projected to reach USD 14.54
billion by 2025, as per the findings of Grand View Research, Inc., progressing
at a CAGR of 4.4% during the forecast period. The market is poised to witness an
upsurge in the use of metalworking fluids (MWFs) in heavy machinery and
automotive applications owing to growing production of sophisticated machines
and components. The market is characterized by competitive pricing strategies
due to increasing number of medium- and small-scale suppliers.
Demand for synthetic
fluids is anticipated to experience sharp rise owing to their superior
properties such as excellent surface finishing and increased tool life.
Mineral-based oil is a traditionally used MWF and accounted for a volume share
of 46.13% in 2017. It can be produced in large quantities owing to abundant
availability, easy accessibility, and cost-effectiveness.
Biobased metalworking
fluids are likely to witness steady growth in Europe on account of presence of
stringent government legislation. For instance, REACH, a European legislation,
requires MWF manufacturers to substitute harmful chemicals such as boron,
formaldehyde, and chlorinated paraffins with environment-friendly alternatives.
In order to comply with the European legislation norms, manufacturers are
focused on producing MWFs that are free of boron, formaldehyde, and short-
& medium-chain chlorinated paraffins. However, high cost of biobased
products can pose a challenge to industry growth during the forecast period.
In 2017, Asia Pacific
emerged as the leading market owing to existence of a significant consumer
base, primarily in China and India. Globally, production of metals such as
titanium and aluminum was dominated by China in 2017. Rising production of
aluminum in China, due to production capacity expansion by several
manufacturers, is expected to trigger the demand for metalworking fluids over
the forecast period.
Full Research
Report On metalworking fluids market Analysis:
https://www.grandviewresearch.com/industry-analysis/Metalworking Fluids-market
https://www.grandviewresearch.com/industry-analysis/Metalworking Fluids-market
Further key findings from the report
suggest:
·
The
corrosion preventive oils segment was valued at USD 1,693.97 million in 2017.
Corrosion preventive oils are used in machining operations where the
possibility of damaging the tool is very high
·
Growing
production capacity in power, automobile, aerospace, and marine application
segments is estimated to stimulate the demand for metalworking fluids over the
forecast period. The automobile industrial end-use segment is likely to record
a CAGR of 5.3% in terms of revenue over the forecast period.
·
Emerging
economies including Brazil, India, Russia, and China have been experiencing
substantial growth in the manufacturing sector. Various exploration and
production activities of crude oil carried out by petroleum companies in China
are expected to play a significant role in propelling product demand.
·
Key market
participants including Houghton, Chevron Corporation, British Petroleum, and
Exxon Mobil Corp. have a strong distribution network and customer base. Certain
manufacturers such as Oelheld, Exxon Mobil, and Cimcool are engaged in offering
multifunctional MWFs that are suitable for various machining applications for
specific metals, which aids in increasing the savings for customers
View More Reports Of This Category By Grand View Research
At: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has
segmented the global metalworking fluids report on the basis of basis of
product, application, end-use, industrial end-use, and region:
Metalworking Fluids Product Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Mineral
·
Synthetic
·
Bio-based
Metalworking Fluids Application
Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Neat Cutting
Oils
·
Water
Cutting Oils
o Soluble cutting oils
o Semi-synthetic cutting oils
o Synthetic cutting oils
·
Corrosion
Preventive Oils
·
Others
Metalworking Fluids End-use Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Metal
Fabrication
·
Transportation
Equipment
·
Machinery
·
Others
Metalworking Fluids Industrial
End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Construction
·
Electrical
& Power
·
Agriculture
·
Automobile
·
Aerospace
·
Rail
·
Marine
·
Telecommunication
·
Healthcare
Metalworking Fluids Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
North
America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o Russia
o France
o Spain
o Italy
o U.K.
o Switzerland
o Denmark
o Norway
o Belgium
o Poland
o Czech Republic
o Turkey
o Sweden
o Finland
·
Asia Pacific
o China
o India
o Japan
o South Korea
o Singapore
o Malaysia
o Thailand
o Australia
o New Zealand
·
Central
& South America
o Brazil
·
Middle East & Africa
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Press Release of this Report: https://www.grandviewresearch.com/press-release/global-metalworking-fluids-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: https://www.grandviewresearch.com/
