According tStratistics MRC, the Global Metalworking Fluids Market is accounted for $8.52 billion in 2015 and is expected treach $11.15 billion by 2022 growing at a CAGR of 3.9% during the forecast period. Growth of automobile and heavy machinery industries in emerging economies is one of the key factors driving the market growth. On the other hand, reduction in metal parts by automakers and OEM’s is hindering the market.
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Owing tits rising consumption in coolants, cutting oils and grinding fluids, removal fluids is expected tgrow at a significant rate. Asia Pacific is the largest market driven by the robust manufacturing base in China and India. Strong government initiatives tsupport the manufacturing sector in China have led tan enhanced production, which is anticipated thave an optimistic impact on the industry.
Some of the key players in the market include Apar Industries, BP PLC, Chevron Corp., Exxonmobil Corp., Fuchs Petolub AG, Hindustan Petroleum Corporation Limited, Houghton International Inc., Idemitsu Kosan Co. Ltd, Kuwait Petroleum International, Lubrizol Corp., Lukoil Oil Co., Quaker Chemical Corporation, Royal Dutch Shell Plc, Sinopec Ltd and Total S.A.
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Product Type Covered:
Rest of Europe
Rest of Asia Pacific
Rest of the World
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