Metalworking Fluids Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Metalworking Fluids Market was worth US$ 10.1 Bn and is expected to grow at a CAGR of 3.9% over the forecast period. The market is expected to hit US$ 13.7 Bn by 2030 end.

Metalworking fluids are chemical compositions used to increase the efficiency of machining tools during drilling, grinding, and other industrial processes. During the cutting and grinding of metal components, these fluids help to reduce heat, provide lubrication, and remove tiny metal chips.

Metalworking fluids have an excellent viscosity-to-temperature relationship and remain stable throughout temperature fluctuations.

Market Dynamic

What are the causes driving the rise in demand for Metalworking Fluids?

The growing use of lightweight materials in high-performance applications, particularly in the automobile sector, drives the demand for metalworking fluids. Manufacturing complicated geometrics with light metals necessitates adequate lubrication, which boosts metalworking fluid sales.

The metalworking fluids sector is seeing an increase in demand for water-soluble lubricants as awareness of sustainability and the usage of eco-friendly goods grows. This tendency is predicted to continue in the future years as worries about the harmful effects of synthetic chemicals found in fluids grow.

What are the opportunities in the Metalworking Fluids Market?

Continuous R&D efforts have resulted in breakthrough manufacturing processes for the manufacture of complicated geometric forms. It requires more lubrication than standard ones. Metalworking fluid consumption is predicted to rise steadily throughout the forecast period, owing to these causes.

The development of multi-functional fluids to eliminate incompatibility in technologically sophisticated machinery is driving changes in the metalworking fluids industry. In addition, altering customer preferences toward environmentally friendly items may generate appealing prospects for producers in the next years.

What are the major challenges confronting the Metalworking Fluids Market?

Government regulations on the use and production of harmful synthetic metal working fluids, along with shifting consumer preference towards environment-friendly products, are hindering sales of metalworking fluids.

COVID-19 Impact

The global lockdown to manage the COVID-19 outbreak resulted in reduced productivity and transportation-related delays. The interruption of economic operations caused by successive waves of the new coronavirus had a detrimental influence on the metalworking fluids industry.

Segment-Wise Analysis

Why are Removal fluid types expected to grow at the fastest CAGR?

Because of its usage as a coolant in the manufacturing industry, removal fluid is likely to play a significant role in driving the growth of the overall metalworking fluids market. Removal fluids stabilize the temperature and remove undesired metal chips during grinding, drilling, and other procedures.

The global market for removal fluid is dominated by demand from the automotive and metal fabrication sectors. Increasing vehicle production in emerging nations will lead to a rise in the usage of gear oils, which will raise the demand for industrial hydraulic and metalworking fluids.

Which application segment will likely grow the most rapidly throughout the forecast period?

The transportation equipment sector consumes the most metalworking fluids, followed by the metal fabrication and heavy machinery industries. Transportation equipment necessitates manufacturing complicated high-strength components, resulting in a significant consumption of metalworking fluids.

As a result, transportation equipment is expected to use more than half of all metalworking fluids produced worldwide.

Which region has promising opportunities in the Metalworking Fluids market?

Metalworking fluids market expansion has been fueled by industrial development in Asia-Pacific in recent years, and this trend is likely to continue over the next five years. Foreign trade, investment liberalization, and changes in industrial regulations have fueled rapid industrialization in China during the last three decades. Domestic and international investment in critical industries such as energy, manufacturing, construction, and transportation has steadily increased in the previous decade.

Due to expanding demand for efficient metalworking fluids from car manufacturers and OEMs, Asia-Pacific is the fastest-growing market for metalworking fluids.

Which country has promising opportunities in the Asia-Pacific Metalworking Fluids market?

Metalworking fluid sales are expected to expand at a 5.0% CAGR throughout the projection period, putting China in a good pocket in the Asia Pacific market. Strong manufacturing capacity in the automobile sector and increased usage of synthetic and semi-synthetic oils will drive the metalworking fluids market in China forward.

Competition Analysis

The worldwide metalworking fluids market is extremely competitive, with top companies accounting for 50.0% entire market share. Due to strong end-use demand and high energy consumption rates, key market participants focus their efforts on high-growth areas.

Furthermore, leading manufacturers are expanding their worldwide market footprint through mergers, acquisitions, and partnerships.

Some of the key developments that have taken place in the Metalworking Fluids Market include:

• In October 2015, Idemitsu Kosan Co. Ltd. increased its manufacturing capacity in China. With increased production activity, this strategic move was made to meet the expanding demand for lubricants in Asia-Pacific.
• In October 2015, Chevron Corp. introduced the ISOCLEAN brand of lubricants, fulfilling OEMs’ demanding quality standards for prolonged machine life. These lubricants help to prevent unplanned downtime and extend machine life.
• In July 2015, Total S.A. opened a lubricant blending facility in Singapore. It will improve its position in the Asia-Pacific lubricant market, which is rapidly expanding. In the factory, automotive and industrial lubricants will be manufactured.

A list of some of the key suppliers present in the market are:

• ExxonMobil Corporation
• Idemitsu Kosan, Co., Ltd
• Quaker Chemical Corporation
• Fuchs Petrolub SE
• BP plc.
• Apar Industries Ltd.
• TotalEnergies SE
• Yushiro Chemical Industry Co. Ltd.
• Cimcool Industrial Products LLC
• Metalworking Lubricants Company

 Market Segments Covered in Report

By Category:

• Straight Oil
• Emulsified Oil
• Semi-Synthetic oils
• Synthetic Oils

By Product Type:

• Removal Fluid
• Protection Fluids
• Forming Fluids
• Treating Fluids

By End-Use:

• Metal Fabrication
• Heavy Machinery
• Transportation Equipment
• General Manufacturing

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Global Metalworking Fluids Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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