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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.

/EIN News/ -- 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
Enhancing the culture of the 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

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Metalworking Fluids Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Product Type Overview
    1. Introduction
      1. Market Size & Forecast
    2. Mineral
      1. Market Size & Forecast
    3. Synthetic
      1. Market Size & Forecast
  5. End User Overview
    1. Introduction
      1. Market Size & Forecast
    2. Machinery
      1. Market Size & Forecast
    3. Transportation Equipment
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Product Type
        2. By End User
      3. Canada
        1. By Product Type
        2. By End User
      4. Mexico
        1. By Product Type
        2. By End User
      5. Latin America
        1. By Product Type
        2. By End User
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Product Type
        2. By End User
      3. France
        1. By Product Type
        2. By End User
      4. U.K.
        1. By Product Type
        2. By End User
      5. Italy
        1. By Product Type
        2. By End User
      6. Spain
        1. By Product Type
        2. By End User
      7. Rest of Europe
        1. By Product Type
        2. By End User
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Product Type
        2. By End User
      3. China
        1. By Product Type
        2. By End User
      4. Australia
        1. By Product Type
        2. By End User
      5. India
        1. By Product Type
        2. By End User
      6. South Korea
        1. By Product Type
        2. By End User
      7. Rest of Asia-Pacific
        1. By Product Type
        2. By End User
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Product Type
        2. By End User
      3. South Africa
        1. By Product Type
        2. By End User
      4. Kuwait
        1. By Product Type
        2. By End User
      5. Rest of Middle East & Africa
        1. By Product Type
        2. By End User
  7. Company Profile
    1. FUCHS
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. MORESCO Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. Blaser Swisslube AG
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. 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

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