Semi synthetic metal working fluids is anticipated to hold nearly 50% of market share by 2027-end.
NEW YORK, NY / ACCESSWIRE / April 22, 2021 / Increasing applications in the automotive industry for metal fabrication and in heavy machineries are fueling the demand for metalworking fluids. The global metalworking fluids market is projected to exhibit moderate growth over the forecast period of 2019-2027, as evaluated by Fact.MR.
According the study, growing use of metalworking fluids within automotive and aerospace industries for transportation equipment is accelerating the sales of metalworking fluids. Rising consumption of neat cutting oil and expansion of the heavy machinery industry will offer growth opportunities.
However, stringent regulations implemented to ensure safe disposal of fluid oils in the environment might hamper the demand for metalworking fluids. Also, adoption of plastic components in automotive industry owing to their lightweight, durability, and robust performance is expected to have a negative impact on the growth of market.
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"Soaring demand for efficient and low toxicity metalworking fluids has prompted the manufacturers to develop alternatives blends of metalworking fluids to meet the environmental and waste treatment regulations," says a Fact.MR analyst.
- Transportation equipment estimated to hold major share in terms of end-users, followed by metal fabrication
- China to be the most lucrative market, accounting for over 1/4th total market share
- Japan to emerge as a potential market through 2021 and beyond
- Germany and France to lead the European metalworking fluids market through 2021
- United States to exhibit sluggish growth throughout the forecast period
- In terms of product type, removal fluids to be the most dominant segment
- Massive industrial growth in emerging economies such as India and Brazil to accelerate the demand
- Surging demand from automotive industry for metal working fluids in machine parts is expected to propel the market growth
- Reduction in metal parts by original equipment manufacturers and automakers is likely to limit the growth
Discover more about the metalworking fluids market with 131 figures and 80 data tables, along with the table of contents.
Apar Industries Ltd., BP PLC, Cimcool Industrial Products BV, ExxonMobil Corporation, Fuchs Petrolub SE, Houghton International Inc., Idemitsu Kosan Co. Ltd., Metalworking Lubricants Company Quaker Chemical Corporation, Total SA, and Yushiro Chemical Industry Co. Ltd. among others are some of the key players profiled by Fact.MR. According to the study, the market is moderately fragmented. Key players are focusing on strategic mergers and acquisitions to expand their product portfolios in order to maintain their position in the industry.
For instance, in October 2020, Biosynthetic® Technologies today announced the launch of new product line of novel additives for the metalworking fluids market called Biocea™. Biosynthetic technologies has developed a new class of high-performance bio-based additives for the use in metalworking fluids, Biocea. The product is bio-based and biodegradable and non-toxic according to the environmental regulations.
More Valuable Insights on Metalworking fluids Market
In its latest report, Fact.MR provides an incisive coverage on the global metalworking fluids market for the forecast period 2019-2027. The study offer detailed insights on the metalworking fluids market trends, growth and opportunities. To gain a better perspective, the market is segmented on the basis of category (straight oil, emulsified oil, semi-synthetic, and synthetic), product type (removal fluids, protection fluids, forming fluids, treating fluid), end-user (metal fabrication, heavy machinery, transportation equipment, and general manufacturing), and across major regions (North America, Latin America, Western Europe, Eastern Europe, China, India, Japan, South East Asia Pacific, and Middle East & Africa).
Key Questions Covered in the Report
- Which product type will be the most lucrative segment for metalworking fluids market?
- What will be the future outlook for metalworking fluids market over the forecast period?
- What are the key drivers and restraints for the metalworking fluids market?
- Which region is likely to dominate the metalworking fluids market?
- Which are the prominent players operating in the metalworking fluids market?
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