Metalworking Fluids Market 2019 To 2023 – Market Share, Growth, Statistics, Competitor Landscape, Key Players Analysis, Trends And Forecasts

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Metalworking Fluids Market 2019 to 2023 – Market Share, Growth, Statistics, Competitor Landscape, Key Players Analysis, Trends and Forecasts

Market Overview

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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Competitive Analysis

Key players 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.

Market Segmentation

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. Straight oils are directly used in metalworking operations. It includes mineral or petroleum oil, animal oil with severe treatment. Straight oils are not diluted with water but other additives may be present. On the other hand, soluble oils contain 30 to 85 percent severely refined petroleum oils, as well as emulsifiers to disperse the oil in water. The synthetic and semi-synthetic oils have varying percentages of refined petroleum oils, water, and additives. Among these fluid types, the straight oils segment is holding a major share of the market owing to easy availability and greater operation ability.

Based on application the global metalworking fluids market is segmented into transportation equipment, industrial machinery, automotive, construction, metal fabrication, and others. The transportation equipment is the largest segment of others. This is attributed to the raid growth of transportation sector on the backdrop of expanding global trade and emerging means of transport. The emerging economies in Asia & Africa are performing well on this front by gradually upgrading their modes of transportation.

Regional Analysis

The Global Metalworking Fluids Market is geographically spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is the largest region among them owing to the increasing industrialization and growing automotive industry along with the construction sector in this region. Countries namely India, China, and Japan are the major markets in this region owing to the growing demand from aerospace and marine industries. North America is the second most significant region in the global metalworking fluids market. The U.S. is the leading market in this region due to the presence of well-established end-user industries such as aerospace and defense. Europe is another substantial region in the global metalworking fluids market. The major markets in this region are the U.K., Germany, France, and Poland, where there is a growing demand for the product in automotive and aerospace industry. Industrialization in Latin America is on the rise with pacifying political and economic scenario in Brazil. During the forecast period, the region anticipated holding a considerable share in the global metalworking fluids market. The Middle East & Africa region is also anticipated to have a significant share in the global metalworking fluids market.

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Keywords: metalworking fluids market

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