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Analysis of the Global Metalworking Fluids Market : Asia is Expected to be a Focal Point for Growth

  • November 2014
  • 208 pages
  • Frost & Sullivan
Report ID: 2506814

Summary

Table of Contents

Key Findings

•Global metalworking fluids market revenue was estimated at $x billion in 2013, and is forecast to grow at a compound annual growth rate (CAGR) of x % from 2013 to 2020.
•Asia dominates the market with a volume share of x %; it is expected to grow to x % by the end of the forecast period.
•Market participants are establishing new production facilities in Asia as a result of increasing demand and less-stringent regulations.
•Brazil, Russia, India, and China (BRIC) and Southeast Asian countries dominate industrial production; demand for metalworking fluids is expected to grow in the developing nations.
•The market is highly fragmented, with smaller competitors holding a strong regional presence and a loyal customer base.
•The metalworking additives segment is projected to grow faster than the overall market as a result of an increasing focus on performance and greater penetration of synthetic-based metalworking fluids that require a stronger additive package.
•Naphthenic base oils and American Petroleum Institute (API) Group II and Group III base oils are finding increased use as a result of decreasing production of API Group I paraffinic base oils.

CEO’s Perspective

Unique and innovative product performance developments that will help to improve longevity, tool life, and microbe and odor control will differentiate competitors.
Mergers and acquisitions within the industry will boost shares and regional presence in a highly fragmented market.
Regulations are expected to become more stringent in Europe and North America due to health and environmental concerns.
Broad product portfolios and enhanced customer support are key competitive factors.
A shift in customer preference toward the use of synthetic-based metalworking fluids is driven by efficiency improvements and more regulations.
Market participants are expanding into Asia and Rest of World (ROW) markets to tap into the high-growth automotive industry.

Market Overview

•Metalworking fluids are used in metalworking processes to reduce friction, cool the tool and workpiece, and continuously remove metal chips and swarfs.
•This research service examines the global metalworking fluids market. Metalworking fluids constitute about x % of the global industrial lubricants market. Base oils used in additive manufacturing and end-user additives are not considered for forecasting.
•Market revenue is expressed in US dollars, and volume is expressed in tons. Average fluid prices are calculated in dollars per ton.
•The markets are segmented and analysed at regional levels. The regions included are:
oNorth America, consisting of the United States, Mexico, and Canada
oAsia, consisting of all Asian countries
oEurope, consisting of European Union (EU) countries
oRest of World, consisting of all other countries
•Total market sales revenue includes revenue of the base oil and additives segments, as well as manufacturer profit margin. Therefore, the sum of revenues at the segment level will not match revenue at the total market level.

Material and Other Trends

•Growth is expected in all product segments, albeit at varying rates. Growth in end-user industries is expected to continue throughout the forecast period. Higher GDP growth rates in developing countries are a factor in increased industrial production, which positively affects the metalworking fluids market.
•Semi-synthetic fluids are projected to grow at a brisk pace compared with synthetic fluids as a result of their optimal mix of cooling, lubricity, and longevity properties.
•Raw material price increases affect market prices. For example, an increase in crude oil prices affects base oil prices, thereby increasing the price of metalworking fluids. This particularly affects the market in developing countries, where customers are highly price-sensitive.
•Customers in Europe and North America prefer high-cost/high-performance products, provided their cost-per-component factor is significantly reduced. This in an area for research and development in the market landscape.
•Regulations have compelled customers to demand fluids with higher sump life to reduce the spend on waste treatment and disposal. Customers look for after-sales support, such as fluid management programmes from fluid formulators and distributors. Enhanced customer service and lab access are value-added services that customers appreciate.

Key Questions this Study will Answer

Is the market growing, how long will it continue to grow, and at what rate?
What are the market drivers and restraints?
What new technologies will drive the market?
What are the regional market trends?
What are the growth trends in the additives and base oils segments?
What are the competitive factors dictating success in the market?

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