[221+ Pages Report] The size & share of the Global Metalworking Fluids Market is expanding from USD 10,729.30 Million in 2021 to USD 13,189.05 Million by 2028 with a compound annual growth rate (CAGR) of roughly 3.50% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Houghton International Inc., BlaserSwisslube AG, BP plc, Exxon Mobil Corp., Total S.A., FUCHS, Chevron Corp., China Petroleum & Chemical Corp., Kuwait Petroleum Corp, and others.
TOKYO, JAPAN, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Metalworking Fluids Market Size, Share, Growth Analysis Report By Product (Mineral, Synthetic, Bio-based), By Application (Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Others), By End-Use (Metal Fabrication, Transportation Equipment, Machinery, Others), By Industrial End-Use (Construction, Electric & Power, Agriculture, Automobile, Aerospace, Rail, Marine, Telecommunication, Healthcare), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Metalworking Fluids Market size & share was valued at approximately USD 10,729.30 million in 2021. The market is expected to grow above a CAGR of 3.50% and is anticipated to reach over USD 13,189.05 million by 2028.”
The report analyses the Metalworking Fluids market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Metalworking Fluids market.
What are Metalworking Fluids? How big is the Metalworking Fluids Industry?
Metalworking fluids are the numerous oils and lubricants used in various metallurgy and metal building processes. These fluids reduce friction during manufacture, lowering the heat generated by the same. They are also quite helpful for eliminating metal chips that have protruded from the surface.
These fluids are widely used in mechanical workshops worldwide for cutting and shaping metal. Additionally, they increase lubrication, lessen wear and tear, and prevent thermal and physical deformation, increasing the life of welded metals by improving their surface smoothness and texture.
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About 221+ Pages Research Report (Including Recent Research)
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Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
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Facts and Factors research methodology
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Key Insights from Primary Research
As per the analysis, the Metalworking Fluids market is likely to grow above a CAGR of around 3.50% between 2022 and 2028.
The Metalworking Fluids market size was worth around US$ 10,729.30 Million in 2021 and is estimated to hit approximately US$ 13,189.05 Million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
By product, the mineral category dominated the market in 2021.
By application, the neat cutting oils category dominated the market in 2021.
The Asia Pacific dominated the global metalworking fluids market in 2021, on the basis of region.
The report contains qualitative and quantitative research on the global metalworking fluids Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Metalworking Fluids market include:
Houghton International Inc.
Exxon Mobil Corp.
China Petroleum & Chemical Corp.
Kuwait Petroleum Corp.
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Industry Growth Drivers:
The thriving automotive industry to drive market growth
The thriving automotive industry primarily drives the market growth. It is common practice to use metals in automotive vehicles to provide structural strength and durability. Metalworking fluids are necessary for metal removal, chemical treatment, and tool protection. As a result, the market has grown as consumers spend more on modifications of their vehicles. Further, market growth is projected due to a shift from traditional metal alloys to stainless steel, aluminum, and titanium. Such Metals provide highly desirable features such as lightweight and long-lasting durability to equipment. Therefore, original equipment manufacturers (OEMs) are also expected to conduct more research and development (R&D) in the coming years to manufacture higher volumes of metal components that are energy efficient.
The various government regulations hinder the market growth
The outbreak of COVID-19 has severely impacted the global market for metalworking fluids. The lockdowns implemented in various countries significantly affected the metalworking fluids market. Further, market stagnation was caused by regulations designed to prevent health hazards. In addition to government regulations preventing the manufacture and use of harmful synthetic metalworking fluids, consumers' preference for environment-friendly products affects the sales of metalworking fluids.
Metalworking Fluids Market: COVID-19 Impact Analysis
In various countries, minor production and transportation delays were brought about as a result of lockdowns that were brought about by the COVID-19 epidemic. The novel coronavirus was able to gain a stronger foothold after many rounds of infection, which caused disruptions in economic activity and caused the market for metalworking fluids to suffer. Because there are not enough raw materials available, the production of metalworking fluids will be restricted, which will have a negative impact on sales of forming fluid.
Manufacturing supply chains have been disrupted as a result of the outbreak, which has resulted in a substantial supply-demand gap. The demand for any kind of industrial activity has been disrupted as a result of a combination of disruptions in the supply chain, labour shortages, and delayed logistics, which has had an effect on industries that rely heavily on metalworking fluids.
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Metalworking Fluids Market: Segmentation Analysis
The metalworking fluids market is segregated based on product, application, end-use, industrial end-use, and region. Based on product, the market is divided into mineral, synthetic and bio-based. Among these, the mineral segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on application, the market is classified into neat cutting oils, water cutting oils, corrosion preventive oils and others. In 2021, the neat cutting oils category dominated the global market.
Based on end-use, the market is classified into metal fabrication, transportation equipment, machinery and others. The machinery segment dominated the market in 2021. Based on industrial end-use, the market is classified into construction, electric & power, agriculture, automobile, aerospace, rail, marine, telecommunication and healthcare. In 2021, the construction segment dominated the market
The metalworking fluids market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The Asia Pacific was anticipated to dominate the global market for metalworking fluids in 2021 because of the expanding demand from the transportation and automotive industries. The growth of this market is mainly attributed to the availability of cheap land and labor in India, China, and Indonesia, as well as the growth of the manufacturing sector.
Further, water cutting fluids, synthetic metalworking fluids and semi-synthetic metalworking fluids are expected to be major growth engines for the market in the foreseeable future in the Asia Pacific region. The governments of China and India have taken significant steps and provided strong support for the manufacturing industry, which is assisting the region's supremacy in market share.
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Recent Industry Developments:
October 2019: Master Fluid Solutions, a well-known producer based in Perrysburg, Ohio, recently announced the acquisition of Wilhelm Dietz GmbH, a pipe and tube expansion, forming, wire drawing, and metalworking company with headquarters in Düsseldorf, Germany. This acquisition will enable Master Fluid Solutions to increase its global reach and enhance its manufacturing capabilities in mainland Europe.
Key questions answered in this report:
What is the market size and growth rate forecast for Metalworking Fluids industry?
What is the main driving factors propelling the Metalworking Fluids Market forward?
What are the leading companies in the Metalworking Fluids Industry?
What segments does the Metalworking Fluids Market cover?
How can I receive a free copy of the Metalworking Fluids Market sample report and company profiles?
Market Size in 2021
USD 10,729.30 Million
Projected Market Size in 2028
USD 13,189.05 Million
CAGR Growth Rate
Key Market Players
Houghton International Inc., BlaserSwisslube AG, BP plc, Exxon Mobil Corp., Total S.A., FUCHS, Chevron Corp., China Petroleum & Chemical Corp., Kuwait Petroleum Corp., and Others
By Product, Application, End-Use, Industrial End-Use, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global metalworking fluids market is segmented as follows:
Neat Cutting Oils
Water Cutting Oils
Corrosion Preventive Oils
By Industrial End-Use
Electric & Power
Rest of Europe
Rest of Southeast Asia
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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Market Size, Trends, & Forecast by Revenue | 2022−2028
Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
Market Segmentation – A detailed analysis by Product, Application, End-Use, Industrial End-Use, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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