Metalworking fluids are the lubricating liquids or oils which facilitate smooth and easy processing of metal work-pieces. They prevent the heat generation and excessive friction between cutting tools and the work-piece when a metal undergoes various mechanical processes such as machining, grounding, and milling, among others. Moreover, the metalworking fluids improve the quality and add into the fineness of the end product by removing the fines, chips, and the small pieces of metal. The major applications of these fluids are removal, forming, cutting, treating fluids, and protection. Transportation & automotive, industrial machinery, metal fabrication, and construction are the major end-user industries for the metalworking fluids. The rapid industrialization of emerging economies, continuously growing automotive industry, and increasing constriction activities around the world are the major actors favoring the growth of this market.
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Global Top Key Players:
The prominent players operating in the global metalworking fluids market are Total S.A. (France), Indian Oil Corporation Ltd (India), Chevron Corporation (U.S.), Henkel AG & Co. KGaA (Germany), Exxon Mobil Corporation (U.S.), HPCL (India), Houghton International Inc. (U.S.), BP (India), Shell (the Netherlands), Croda International Plc. (U.K), and China Petrochemical Corporation (China), among others
- Metalworking fluids Manufacturers
- Traders and distributors of metalworking fluids
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
The protuberant factors driving the growth of the global metalworking fluids are the rapid industrialization in Asia-Pacific and African countries, growing automotive industry, and increasing construction activities around the world. The global vehicle sale marked nearly 80 million units in 2017 and it is expected to grow at significant rate in coming years due to rising demand for the passenger vehicles from the emerging economies. The global transportation sector is witnessing new normal with flourishing world trade. Being the largest consumer of metalworking fluid, this growth trend in the transportation sector is likely to favor growth of the global metalworking fluids market.
Moreover, shifting consumer preference towards the customized cars and increasing demand for the light-weight, fuel-efficient vehicles on the backdrop of increasing environmental concerns is projected to fuel demand for the metalworking fluids in coming years. However, the capital-intensive nature of metalworking, gradual reduction of metal parts in automotive, and volatility of crude oil prices are the major factors restraining the growth of the market during the forecast period. Nevertheless, the major end-use industries such as aerospace, defense, and marine will continue to use the metal-based structures on account for the strength the material provides.
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North America is the second largest region in the global metalworking fluids market, following Asia Pacific. The U.S. is the major market in this region due to the presence of well-established end users such as aerospace & defense, and marine. Europe is another significant region in the global metalworking fluids market. Major contributors to the regional market are the U.K, France, Germany, and Switzerland. Industrial machinery and automotive industries in Europe are fetching maximum demand for the metalworking fluids in this region. Latin America is witnessing a steady growth of end-user industries majorly in countries namely Brazil and Mexico. In coming years increasing opportunities for the building & construction industry may help propel the growth of the regional market.
The global metalworking fluids market has been segmented into fluid type, application, and region. On the basis of fluid type, the market is divided into straight oils, soluble oils, synthetic oils, semi-synthetic oils, and others. Based on application the global metalworking fluids market is segmented into transportation equipment, industrial machinery, automotive, construction, metal fabrication, and others. Regionally, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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