Metalworking Fluids Market 2021 Booming Strategies of Top Companies, Progression Status and Business Trends to 2025 |Says Adroit Market Research
Global metalworking fluids market size is forecast to be valued at USD 12.31 billion by 2025. The global metalworking fluids market is projected to show steady growth CAGR of 3.6% over the forecast period.
Dallas, United States – April 27, 2021 /MarketersMedia/ —
Increasing industrialization and rapid urbanization coupled with the emerging economic status of many regions typically of Asia Pacific is driving the global metalworking fluids market. Metalworking fluids are popularly used as an industrial component essentially used as oils and lubricant with the primary purpose of utility to smoothen functioning of various metal pieces in a machinery during several industrial operations. These material components enable extending the life of the machinery or tool and elevating the performance. The raw materials used to derive metalworking fluids include base oils and crude oils which follow a step-by-step procedure including heating, extraction and refining resulting in production of different varieties of oils including lubricants, motor oils and petrol.
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Metalworking fluids are available in the market in two different forms namely synthetic and bio-based and mineral based metalworking fluids. This categorization is based on the source of raw materials. The mineral based metalworking fluids product segment holds largest market share as it is produced on a large-scale with extensive market penetration owing to the cost-effective nature of the product. The price sensitivity of the customers is leading to increased utilization of metalworking fluids by small and medium sized manufacturers. Recent developments have led to a rise in demand for synthetic metalworking fluids.
The metalworking fluids market application segment expresses bifurcation as water cutting and near cutting applications. These applications are of crucial utility in industries such as transportation equipment, metal fabrication along with insulation applications, power cables, machinery, electrical equipment and telecommunication cables. The machinery end-user segment is the most dominant with largest application accounting for a heavy market revenue owing to the increasing demand for metalworking fluids in agricultural equipment, automotive components and earth moving components. Asia Pacific holds the largest metalworking fluids market share with growing manufacturing industries in India, Indonesia and China owing to the rising investment initiatives.
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ExxonMobil Corporation, Houghton International Inc., Royal Dutch Shell plc, Yushiro Chemical Industry Co., Ltd, Fuchs Petrolub SE, Total S.A. are some of the key players that hold a significant percentage of the global metalworking fluids market share. These players are focused on research & development in order to reduce the harmful environmental impacts of metalworking fluids.
Key segments of the global metalworking fluids market
Raw Material Overview, 2015-2025 (USD Million) (Kilo Tons)
• Mineral
• Synthetic
• Bio-based
Application Overview, 2015-2025 (USD Million) (Kilo Tons)
• Neat cutting oils
• Water soluble cutting oils
• Rust preventive oils
• Others
Regional Overview, 2015-2025 (USD Million) (Kilo Tons)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o Rest of Europe
• Asia Pacific
o China
o India
o Rest of Asia Pacific
• Central & South America
• Middle East & Africa
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Reasons for the study
• The purpose of the study is to give an exhaustive outlook of the metalworking fluid industry
• We have been following the lubricant industry from quite some time, especially cutting oils segment which is one of the prominent type of metalworking fluid
• Rapid growth in industrial activities across the globe is projected to augment the demand over next eight years
• Increasing complexity of manufacturing process has led to growth in demand for these fluids
What does the report include?
• The study on the global metalworking fluid market includes qualitative factors such as drivers, restraints, and opportunities
• Additionally, the market has been evaluated using the value chain, Porter’s Five Forces’ analysis and PESTEL analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of raw material, application, region (and country).
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence
About Us:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a Market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable Market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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