The global metalworking fluids market is reached a value of US$ 11.3 Billion in 2019. Metalworking fluids (MWF) include liquids and oils that lubricate and cool down metal pieces during mechanization, grounding, and milling. The MWFs minimize friction and heat from in-between the cutting equipment and the workpiece to prevent smoke or burn by inhibiting corrosion. These fluids are used extensively in mechanical workshops for cutting and shaping metals. Moreover, MWFs help in maintaining lubrication in automobiles, reducing the risk of any physical and thermal deformation, and delivering premium surface finish and texture in the welding process.
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Looking forward, IMARC Group expects the global metalworking fluids market to exhibit moderate growth during the next five years. The expanding automotive industry has augmented the demand for MWF in improving the overall vehicle efficiency. Furthermore, the rising consumer expenditures on vehicle modifications are also catalyzing the usage of MWFs in processing numerous metals, such as stainless steel, aluminum, and titanium. Moreover, the increasing investments in extensive R&D activities by original equipment manufacturers (OEMs) for optimum production and enhancing efficiency of metal components will continue to drive the market for metalworking fluids.
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Report Coverage:
Historical, Current and Future Market Trends
Market Breakup by Product Type:
Removal Fluids
Forming Fluids
Protection Fluids
Treating Fluids
Market Breakup by Source:
Mineral
Synthetic
Bio-Based
Market Breakup by End Use:
Transportation Equipment
Machinery
Primary Metals
Fabricated Metal Products
Metal Cans
Others
Market Breakup by Fluid Type:
Neat Cutting Oils
Water Cutting Oils
Soluble Cutting Oils
Semi-synthetic Cutting Oils
Synthetic Cutting Oils
Corrosion Preventive Oils
Others
Market Breakup by Industry:
Construction
Electrical and Power
Agriculture
Automobile
Aerospace
Others
Market Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being BP, Chevron, Houghton International, ExxonMobil, Total S.A., Apar, Hindustan Petroleum Corporation Limited, Castrol Limited, Indian Oil Corporation Limited, Lubrizol, Gazprom, Pertamina, Columbia Petro, PETRONAS Lubricants International, Quaker Chemical Corporation, etc.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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