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Metalworking Fluids Market Size Analysis Report By Product, By Application, By End Use, By Industrial End Use And Segment Forecasts, 2019 - 2025

Metalworking Fluids Market Size Analysis Report By Product, By Application, By End Use, By Industrial End Use And Segment Forecasts, 2019 - 2025

  • April 2019
  • 351 pages
  • ID: 5767994
  • Format: PDF

Summary

Table of Contents

Metalworking Fluids Market Size Analysis Report By Product (Mineral, Synthetic, Bio-based), By Application (Neat Cutting Oil, Water Cutting Fluid), By End Use, By Industrial End Use, And Segment Forecasts, 2019 - 2025

The global metalworking fluids market size is projected to reach USD 14.54 billion by 2025. It is anticipated to expand at a CAGR of 4.4% during the forecast period. Increasing demand of the product in transportation equipment and machinery from multiple end-user industries are the key driving forces for the growth.

Metalworking Fluids (MWF) play an important role in automobile industry on account of its ability to provide excellent surface finish and to reduce friction between work piece and tool. Also, it is readily used in heavy machinery industry, which is witnessing significant growth in emerging economies including India, China, Brazil, Russia, and other Southeast Asian countries.

The market is characterized by fast changing technological trends in machining operations causing MWF manufacturers to adapt new manufacturing methods to produce customized and cost competitive products. Shift in preference from traditional metal alloys to stainless steel, aluminum, and titanium metals is expected to provide more opportunities for the manufacturers supplying metalworking fluids suitable for providing lubrication during the machining of aluminum and titanium alloys.

Distribution channels play an important role in maintaining loyal customer base. Q8Oils, a subsidiary of Kuwait Petroleum Corporation and Houghton International, Inc. established distribution relationship with regional-level suppliers and distributors that provide condition monitoring services. Maintaining concentration levels of neat cutting oils, synthetic, and semi-synthetic fluids is crucial in condition monitoring services wherein these fluids are broadly used for storage, transportation, and other allied applications.

Rapid growth in automotive, aerospace, and other end-use industries has made Asia Pacific a global center for the MWFs.Revision in regulatory norms in North America and Europe has represented shift in the market, from being stagnant to providing lucrative opportunities.

Also, stringent regulations in these two regions has made manufacturers to develop products free from chlorine, boron, and formaldehyde agents.

Further key findings from the report suggest:
• In terms of volume, the global market size is anticipated to reach 3,655.18 kilotons by 2025, with a projected CAGR of 4.0%
• Neat cutting oils was the dominant segment with a total market share of 42.08% in terms of revenue in 2018
• China was major growth contributor in Asia Pacific with a market share of 43.07% in 2018 and is expected to continue witnessing growth over a forecast period
• Some of the key participants operating in the global metalworking fluids market are British Petroleum; Renkert Oil, Inc.; ExxonMobil, Sonneborn, Inc.; and Royal Dutch Shell among others.

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