29-Aug-2022 | Facts and Factors
According to Facts and Factors, the global metalworking fluids market size was worth USD 10,729.30 million in 2021 and is estimated to grow to USD 13,189.05 million by 2028, with a compound annual growth rate (CAGR) of approximately 3.50% over the forecast period. The report analyzes the metalworking fluids market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the metalworking fluids market.
Metalworking fluids are the numerous oils and lubricants used in various metallurgy and metal building processes. These fluids reduce friction during manufacture, lowering the heat generated by the same. They are also quite helpful for eliminating metal chips that have protruded from the surface. These fluids are widely used in mechanical workshops worldwide for cutting and shaping metal. Additionally, they increase lubrication, lessen wear and tear, and prevent thermal and physical deformation, increasing the life of welded metals by improving their surface smoothness and texture.
Browse the full “Metalworking Fluids Market Size, Share, Growth Analysis Report By Product (Mineral, Synthetic, Bio-based), By Application (Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Others), By End-Use (Metal Fabrication, Transportation Equipment, Machinery, Others), By Industrial End-Use (Construction, Electric & Power, Agriculture, Automobile, Aerospace, Rail, Marine, Telecommunication, Healthcare), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/metalworking-fluids-market
The thriving automotive industry primarily drives market growth. It is common practice to use metals in automotive vehicles to provide structural strength and durability. Metalworking fluids are necessary for metal removal, chemical treatment, and tool protection. As a result, the market has grown as consumers spend more on modifications of their vehicles. Further, market growth is projected due to a shift from traditional metal alloys to stainless steel, aluminum, and titanium. Such Metals provide highly desirable features such as lightweight and long-lasting durability to equipment. Therefore, original equipment manufacturers (OEMs) are also expected to conduct more research and development (R&D) in the coming years to manufacture higher volumes of metal components that are energy efficient. The outbreak of COVID-19 has severely impacted the global market for metalworking fluids. The lockdowns implemented in various countries significantly affected the metalworking fluids market. Further, market stagnation was caused by regulations designed to prevent health hazards. In addition to government regulations preventing the manufacture and use of harmful synthetic metalworking fluids, consumers' preference for environment-friendly products affects the sales of metalworking fluids.
The metalworking fluids market is segregated based on product, application, end-use, industrial end-use, and region. Based on product, the market is divided into mineral, synthetic and bio-based. Among these, the mineral segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on application, the market is classified into neat cutting oils, water cutting oils, corrosion preventive oils and others. In 2021, the neat-cutting oils category dominated the global market. Based on end-use, the market is classified into metal fabrication, transportation equipment, machinery and others. The machinery segment dominated the market in 2021. Based on industrial end-use, the market is classified into construction, electric & power, agriculture, automobile, aerospace, rail, marine, telecommunication and healthcare. In 2021, the construction segment dominated the market
The metalworking fluids market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific was anticipated to dominate the global market for metalworking fluids in 2021 because of the expanding demand from the transportation and automotive industries. The growth of this market is mainly attributed to the availability of cheap land and labor in India, China, and Indonesia, as well as the growth of the manufacturing sector. Further, water cutting fluids, synthetic metalworking fluids and semi-synthetic metalworking fluids are expected to be major growth engines for the market in the foreseeable future in the Asia Pacific region. The governments of China and India have taken significant steps and provided strong support for the manufacturing industry, which is assisting the region's supremacy in market share.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 10,729.30 Million |
Projected Market Size in 2028 |
USD 13,189.05 Million |
CAGR Growth Rate |
3.50% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Houghton International Inc., Blaser Swisslube AG, BP plc, Exxon Mobil Corp., Total S.A., FUCHS, Chevron Corp., China Petroleum & Chemical Corp., Kuwait Petroleum Corp., and Others |
Key Segment |
By Product, Application, End-Use, Industrial End-Use, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key players in the metalworking fluids market include - Houghton International Inc.; Blaser Swisslube AG; BP plc; Exxon Mobil Corp.; Total S.A.; FUCHS; Chevron Corp.; China Petroleum & Chemical Corp.; Kuwait Petroleum Corp.
Recent Development:
- October 2019: Master Fluid Solutions, a well-known producer based in Perrysburg, Ohio, recently announced the acquisition of Wilhelm Dietz GmbH, a pipe and tube expansion, forming, wire drawing, and metalworking company with headquarters in Düsseldorf, Germany. This acquisition will enable Master Fluid Solutions to increase its global reach and enhance its manufacturing capabilities in mainland Europe.
Global Metalworking Fluids Market is segmented as follows:
By Product
- Mineral
- Synthetic
- Bio-based
By Application
- Neat Cutting Oils
- Water Cutting Oils
- Corrosion Preventive Oils
- Others
By End-Use
- Metal Fabrication
- Transportation Equipment
- Machinery
- Others
By Industrial End-Use
- Construction
- Electric & Power
- Agriculture
- Automobile
- Aerospace
- Rail
- Marine
- Telecommunication
- Healthcare
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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