Metalworking Fluids Market is projected to reach USD 13.96 Billion by 2030, growing at a CAGR of 3.6%: Straits Research
The global metalworking fluids market size was valued at USD 10.22 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030 and reach around 13.96 USD billion. Asia-Pacific is anticipated to experience the highest market growth.
New York, United States, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Metalworking fluids are a class of oils and lubricants used to help metal parts in machinery run smoothly during various industrial processes. These fluids also aid in extending the life of tools and enhancing their performance. Crude oil and base oil are the primary materials used to manufacture Metalworking fluids. The raw materials are heated, extracted, and refined to produce motor oils, lubricants, and gasoline, among other fluids.
Metalworking fluids are used daily in various industries, including milling, drilling, cutting, stamping, and grinding. Furthermore, the consumption of these products is constantly changing due to changing regulations, formulation, and pressure from regulatory bodies around the world.
Consistent efforts are made to connect disparate regions of a country via roads, railroads, and rivers. These endeavors require a significant amount of infrastructure construction and metalwork. The demand for metal works for various applications has increased due to the expansion of commerce and the ongoing requirement for improved connectivity. This rising demand is anticipated to result in metalworking fluids market expansion.
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Rising Enhancement of the Automobile Sector and Industry's Culture Drives the Global Market
The expansion of the automotive industry primarily fuels metalworking fluids' market growth due to rising auto production. Metalworking fluids are frequently used as coolants for metal treatment, removal, forming, and protection. Consequently, an increase in automobile production is anticipated to stimulate the growth of the metalworking fluids market.
Metalworking fluids are used in various manufacturing processes to ensure quality, reduce tool wear, and increase productivity. The chemical composition of applied metalworking fluids should depend highly on their intended use. Even minute variations in metalworking fluids composition can significantly impact the performance of Metalworking fluids in manufacturing processes. In addition to variations in design, the Metalworking fluid chemistry also changes throughout the fluid's service life.
Increase in Agricultural Equipment Creates Tremendous Opportunities
Increased use of metalworking fluids in agricultural machinery is anticipated to provide lucrative opportunities for the metalworking fluids market. The growing demand for high-yield production is also attributable to the increased adoption of advanced farm equipment in the agricultural sector. Thus, rising demand for high-performance metalworking fluids in farming is anticipated to drive market expansion.
Report Scope
Report Metric | Details |
Market Size | USD 13.96 billion by 2030 |
CAGR | 3.6% (2022-2030) |
Historical Data | 2019-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Forecast Units | Value (USD Billion ) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Application, End Use |
Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
Key Companies Profiled/Vendors | FUCHS, MORESCO Corporation, Blaser Swisslube AG, CIMCOOL Fluid Technology LLC, Kuwait Petroleum Corporation, ExxonMobil, The Dow Chemical Company, Henkel Corporation, Castrol Limited, Lubrizol Corporation, Quaker Chemical Corporation |
Key Market Opportunities | Increase in agricultural equipment |
Key Market Drivers | The growth of the automobile industry |
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Regional Analysis
Asia-Pacific is anticipated to experience the highest market growth. Several development projects and the emergence of the manufacturing sector in countries such as China, India, and others are responsible for this. China's exports of coated flat-rolled iron, metal mountings, and iron structures are approximately USD 11 billion, USD 10 billion, and USD 9.5 billion. The production of this equipment should benefit this market. Japan's integrated circuits and industrial printer exports were approximately USD 26 billion and USD 13 billion, respectively. It is anticipated that these factors will stimulate the metalworking fluids market over the forecast period.
In the coming years, the metalworking fluids market in North America is anticipated to expand significantly. This is due to the presence of economically advanced nations and the availability of superior technology compared to other regions. It is expected that the production of heavy machinery will significantly contribute to the expansion of this market. In addition to forging, machining, bending, and forming, metalworking fluids are utilized to fabricate heavy machinery to improve the metal's shape.
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Competitive Players
FUCHS
MORESCO Corporation
Blaser Swisslube AG
CIMCOOL Fluid Technology LLC
Kuwait Petroleum Corporation
ExxonMobil
The Dow Chemical Company
Henkel Corporation
Castrol Limited
Lubrizol Corporation
Quaker Chemical Corporation
Global Metalworking Fluids Market: Segmentation
By Product
Mineral
Synthetic
Bio-based
By Application
Neat Cutting Oils
Water Cutting Oils
Soluble Cutting Oils
Semi-Synthetic Cutting Oils
Synthetic Cutting Oils
Corrosion Preventive Oils
By End-User
Machinery
Transportation Equipment
Metal Fabrication
By Industrial End-Use
Construction
Electrical and Power
Agriculture
Automobile
Aerospace
Rail
Marine
Telecommunication
By Regions
North America
Europe
Asia-Pacific
LAMEA
TABLE OF CONTENT
Introduction
Market Definition
Market Scope
Research Methodology
Primary Research
Research Methodology
Assumptions & Exclusions
Secondary Data Sources
Market Overview
Report Segmentation & Scope
Value Chain Analysis: Metalworking Fluids Market
Key Market Trends
Drivers
Restraints
Opportunities
Porter’s Five Forces Analysis
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitution
Threat of New Entrants
Competitive Rivalry
Market Share Analysis
Product Type Overview
Introduction
Market Size & Forecast
Mineral
Market Size & Forecast
Synthetic
Market Size & Forecast
End User Overview
Introduction
Market Size & Forecast
Machinery
Market Size & Forecast
Transportation Equipment
Market Size & Forecast
Regional Overview
Introduction
Market Size & Forecast
America
North America
U.S.
By Product Type
By End User
Canada
By Product Type
By End User
Mexico
By Product Type
By End User
Latin America
By Product Type
By End User
Europe
Market Size & Forecast
Germany
By Product Type
By End User
France
By Product Type
By End User
U.K.
By Product Type
By End User
Italy
By Product Type
By End User
Spain
By Product Type
By End User
Rest of Europe
By Product Type
By End User
Asia Pacific
Market Size & Forecast
Japan
By Product Type
By End User
China
By Product Type
By End User
Australia
By Product Type
By End User
India
By Product Type
By End User
South Korea
By Product Type
By End User
Rest of Asia-Pacific
By Product Type
By End User
Middle East & Africa
Market Size & Forecast
Saudi Arabia
By Product Type
By End User
South Africa
By Product Type
By End User
Kuwait
By Product Type
By End User
Rest of Middle East & Africa
By Product Type
By End User
Company Profile
FUCHS
Company Overview
Financial Performance
Recent Developments
Product Portfolio
MORESCO Corporation
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Blaser Swisslube AG
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/metalworking-fluids-market/toc
Market News
April 2022- Henkel Australia powers adhesives sites with 100% renewable energy
News Media
Emergence of Manufacturing Sector to Provide Impetus to Metalworking Fluids Market
Have a Look at the Related Research Report
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Hydraulic Fluids Market: Information by Type (Mineral Oil, Synthetic Oil), End-User (Oil and Gas Industry, Automotive Industry), and Region — Forecast till 2030
Fluid Dispensing Equipment Market: Information by Product (Flux, Lubricant), Types (Manual System , Automated Robotics System), and Region — Forecast till 2030
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