Global Metalworking Fluids Market Overview :
Global Metalworking Fluids market is estimated to reach $14.5 Billion by 2025; growing at a CAGR of 4.5% till 2025. Metalworking fluid is mainly used to lubricate the metal piece while performing machine operations such as grinding, drilling, etc. Metalworking fluid is used for various processes such as wire drawing, tube drawing, stamping, can drawing, blanking, grinding, drilling, tapping, reaming, and gear shaping. There are different types of metalworking fluids, such as soluble oils, straight oils, semi-synthetic fluids, and synthetic fluids. Additionally, it helps to reduce friction and heat between the metal piece and machine. Stringent rules about the disposal of metalworking fluid might act as a setback for the market.
Global Metalworking Fluids Market: Growth Factors
Rising use of metalworking fluids in the automotive industry is fueling market growth. The automotive industry is dependent on metalworking fluid due to its ability to reduce tool wear and offers outstanding surface finish. Moreover, the expansion of the automotive industry in developing countries such as India and China are also fueling market growth. However, the high cost of metalworking fluid and high initial investment regarding the disposal of metalworking fluids might hamper market growth.
Global Metalworking Fluids Market: Segmentation
The global metalworking fluids market is mainly classified on the basis of product, application, end-use, and industrial end use. Based on the product, the market is categorized as mineral, synthetic, and bio-based. On the basis of application, the market is divided into neat cutting oils, water cutting oils, corrosion preventive oils, and others. Based on the end user, the market is classified as metal fabrication, transportation equipment, machinery, and others. On the basis of industrial end use, the market is divided into construction, electrical & power, agriculture, automobile, aerospace, rail, marine, telecommunication, and healthcare.
Global Metalworking Fluids Market: Regional Analysis
Based on geography, the global Metalworking Fluids market is divided into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further categorized as U.S., Canada, and Mexico, where Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is divided into South America, the Middle East, and Africa
Global Metalworking Fluids Market: Competitive Players
Key players operating in the market include Houghton International, Inc., BP plc., Blaser Swisslube AG, ExxonMobil Corporation, FUCHS, Total S.A., Quaker Chemical Corporation, CIMCOOL Fluid Technology, LLC, Chevron Corporation, Croda International Plc, Henkel AG & Co., KGaA, and China Petroleum & Chemical Corporation.
Metalworking Fluids Market Key Segments:
- Neat Cutting Oils
- Water Cutting Oils
- Corrosion Preventive Oils
By End Use
- Metal Fabrication
- Transportation Equipment
By Industrial End Users
- Electrical & Power
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East
Key Market Players
- Houghton International, Inc.
- BP Plc.
- Blaser Swisslube AG
- ExxonMobil Corporation
- Total S.A.
- Quaker Chemical Corporation
- CIMCOOL Fluid Technology, LLC
- Chevron Corporation
- Croda International Plc
- Henkel AG & Co., KGaA
- China Petroleum & Chemical Corporation
What Report Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market