Quick Summary:
In today's industrial landscape, the role of Metalworking Fluids (MWFs) cannot be overstated. Leveraged to reduce heat and friction between a cutting tool and the workpiece, MWFs help prevent any smoking, burning or corrosion during the process. They are indispensable in mechanical workshops globally, aiding in cutting and shaping metals, extending the lifespan of vehicle components by maintaining lubrication and reducing wear and tear, and ensuring superior surface finish in the welding process.
The growth of the global metalworking fluids (MWF) market is driven primarily by the booming automotive industry. Metals, providing structural strength and durability, are crucial to the automotive sector. Consequently, the demand for MWFs for metal removal, chemical treatment and protection, and enhancing tool efficiency is substantial. Market growth is further propelled by increased consumer investment in vehicle modifications. A shift in preference from traditional metal alloys to lightweight, long-lasting metals like stainless steel, aluminum, and titanium also pushes the market forward. Furthermore, intensive R&D efforts by original equipment manufacturers (OEMs) to alleviate equipment energy efficiency by creating high-volume metal components are expected to accentuate the demand for MWFs. The report breaks down this dynamic market including its key segmentation and further explores the role of its competitive landscape.
Metalworking fluids (MWF) refer to a range of liquids and oils that are used to lubricate and cool down metal pieces while they are being machined, ground and milled. The MWFs reduce friction and heat in-between the cutting tool and the workpiece and prevent smoking or burning while inhibiting corrosion. These fluids find extensive applications worldwide in mechanical workshops for cutting and shaping metals. Furthermore, they aid in extending a vehicle’s component life by maintaining lubrication, reducing the chances of wear and tear or any physical and thermal deformation, along with delivering superior surface finish and texture in the welding process.
The thriving automotive industry is the key factor driving the market. Metals are widely used to provide structural strength and durability to automobile vehicles. Consequently, metalworking fluids are required for metal removal, chemical treatment and protection, and enhancing the overall work hours of the tool. Furthermore, increased consumer spending on vehicle modifications has catalyzed the market growth. A shift in the preference from traditional metal alloys to stainless steel, aluminum and titanium is also projected to drive the market further. These metals provide lightweight and long-lasting features to the equipment which are highly desirable in the market. Moreover, increasing research and development (R&D) activities conducted by original equipment manufacturers (OEM) to produce higher volumes of metal components that ensure energy efficiency in equipment is also projected to drive the demand for metalworking fluids in the coming years.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global metalworking fluids market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, source, end use, fluid type and industry.Breakup by Product Type:
- Removal Fluids
- Forming Fluids
- Protection Fluids
- Treating Fluids
Breakup by Source:
- Mineral
- Synthetic
- Bio-Based
Breakup by End Use:
- Transportation Equipment
- Machinery
- Primary Metals
- Fabricated Metal Products
- Metal Cans
- Others
Breakup by Fluid Type:
- Neat Cutting Oils
- Water Cutting Oils
- Soluble Cutting Oils
- Semi-synthetic Cutting Oils
- Synthetic Cutting Oils
- Corrosion Preventive Oils
- Others
Breakup by Industry:
- Construction
- Electrical and Power
- Agriculture
- Automobile
- Aerospace
- Others
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being BP, Chevron, Houghton International, ExxonMobil, Total S.A., Apar, Hindustan Petroleum Corporation Limited, Castrol Limited, Indian Oil Corporation Limited, Lubrizol, Gazprom, Pertamina, Columbia Petro, PETRONAS Lubricants International and Quaker Chemical Corporation.Key Questions Answered in This Report:
- How has the global metalworking fluids market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global metalworking fluids industry?
- What has been the impact of COVID-19 on the global metalworking fluids industry?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the source?
- What is the breakup of the market based on the end use?
- What is the breakup of the market based on the fluid type?
- What is the breakup of the market based on the industry?
- What are the various stages in the value chain of the global metalworking fluids industry?
- What are the key driving factors and challenges in the global metalworking fluids industry?
- What is the structure of the global metalworking fluids industry and who are the key players?
- What is the degree of competition in the global metalworking fluids industry?
What is the estimated value of the Global Metalworking Fluids Market?
What is the growth rate of the Global Metalworking Fluids Market?
What is the forecasted size of the Global Metalworking Fluids Market?
Who are the key companies in the Global Metalworking Fluids Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | July 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 11 Billion |
| Forecasted Market Value ( USD | $ 13.7 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
Table of Contents
Companies Mentioned
- BP
- Chevron
- Houghton International
- ExxonMobil
- Total S.A.
- Apar
- Hindustan Petroleum Corporation Limited
- Castrol Limited
- Indian Oil Corporation Limited
- Lubrizol
- Gazprom
- Pertamina
- Columbia Petro
- PETRONAS Lubricants International
- Quaker Chemical Corporation
Methodology
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