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Metalworking Fluids Global Market Report 2021: COVID-19 Growth And Change

Metalworking Fluids Global Market Report 2021: COVID-19 Growth And Change

  • September 2021
  • 175 pages
  • ID: 6152584
  • Format: PDF
  • The Business Research Company


Table of Contents

Major players in the metalworking fluids market are Exxon Mobil Corporation, TotalEnergies, Houghton International Inc., Henkel, Fuchs Petrolub, Quaker Chemical Corporation, Hindustan Petroleum Corporation Limited, Castrol, Lubrizol, Croda International, Royal Dutch Shell, Lukoil Oil Company, Sinopec, Apar Industries Limited, Yushiro Chemical Industry Co. Ltd., Idemitsu Kosan, Cimcool Industrial Products Inc, Blaser Swisslube, Motul, Oelheld, MORESCO Corporation, QualiChem, Master Fluid Solutions, and Hardcastle Petrofer.

The global metalworking fluids market is expected to grow from $9.95 billion in 2020 to $10.71 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.06 billion in 2025 at a CAGR of 5.1%.

The metalworking fluids market consists of sales of metalworking fluids by entities (organizations, sole traders, and partnerships) that provide metalworking fluids to improve the workpiece’s performance by constantly eliminating dust, chips, and swarfs from the tool and the workpiece’s surface.Metalworking fluid (MWF) refers to a group of oils and other fluids used to cool and lubricate metal workpieces while they are being machined, crushed, or milled.

Metalworking fluids (MWFs) help to avoid burning and smoking by reducing heat and friction between the cutting tool and the workpiece.

The main types of metalworking fluids are mineral, synthetic and bio-based.Mineral oils are refining methods that assist in minimizing the amount of polynuclear aromatic hydrocarbons in metalworking fluids (PAHs).

It is used in neat cutting oils, water cutting oils, corrosion preventive oils, others and is implemented in various verticals such as construction, electrical and power, automobile, metal fabrication, transportation equipment, others.

Asia Pacific was the largest region in the metalworking fluids market in 2020.North America was the second-largest market in the metalworking fluids market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The launch of new product lines is shaping the metalworking fluids market.Major companies operating in the metalworking fluids sector are focused on launching new product lines for metalworking fluids to improve product uniformity, cost, and marketability.

For instance, in February 2019, Chemtool Incorporated, a US-based company that produces metalworking fluids launched Lubricant 4284, a new series of synthetic metalworking fluids that are designed for machining and grinding aluminum and other ferrous and non-ferrous alloys. Lubricant 4284 is a specifically designed lubricant and detergent that promotes machine cleanliness and high-quality machined item finishes.

In March 2020, DuBois Chemicals, a US-based chemical solutions provider acquired Cimcool business from Milacron, a subsidiary of Hillenbrand for a deal amount of $224 million.The acquisition is expected to provide a new set of solutions, applications experts, technical service resources to support DuBois customers, adding value by expanding the company’s global presence and important segments through new applications and technical resources.

Cimcool Industrial Products Inc is a US-based formulator and manufacturer of high-performance specialty metalworking fluids, including removal, forming, protective, and cleaning fluids.

The growing automotive sector is expected to fuel the growth of the metalworking fluids market in the forecast period.The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles.

Metalworking fluids, which minimize heat and friction in industrial cutting and grinding operations, are frequently utilized by automobile manufacturers in the manufacturing of car parts and other equipment. For instance, Hyundai Motor Company, a South Korea-based automotive manufacturer announced a 23.8% year-over-year rise in domestic deliveries to 52,005 units in January 2021. Moreover, according to the India Brand Equity Foundation (IBEF), in 2020, roughly 3.49 million units of commercial and passenger vehicle categories were sold in India. Therefore, the growing automotive sector drives the growth of the metalworking fluids market.

The countries covered in the metalworking fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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