Global Metalworking Fluids Market is set to hit at estimated value $15.49 billion, registering a healthy CAGR 4.87% in forecast by 2026
Analysis of Global Metalworking Fluids Market report:
Global Metalworking Fluids Market is expected to rise from its initial estimated value of USD 10.59 billion in 2018 to an estimated value of USD 15.49 billion by 2026, registering a CAGR of 4.87% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in demand for the product from the various developing regions globally.
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Definition:
Metalworking fluids are termed as the category of oils and lubricants that are used in various metal fabrication and metal construction processes. These fluids significantly reduce the friction thereby reducing the heat caused by the same when the fabrication processing is underway; they are also used for the removal of any extruding chips from the surface of the metal.
Market Drivers:
· High levels of industrialization and urbanization resulting in growth of automobile, construction & metals market; this factor is expected to drive the market growth
· Innovations and advancements in the market resulting in lower-cost production of product without the use of harmful additives; this factor is expected to drive the market growth
Market Restraints:
· Concerns for the workers amid growth in awareness regarding the harmful effects of the product is expected to restrain the market growth
· Available substitutes in the market are expected to hinder the growth of the market
Leading Key players profiled in this report are:
Few of the major competitors currently working in metalworking fluids market are Italmatch Chemicals S.p.A.; Croda International Plc; Chevron Corporation; Quaker Chemical Corporation; Veedol International Limited; oelheld GmbH; FUCHS; Master Fluid Solutions; Hardcastle Petrofer; Illinois Tool Works Inc.; JXTG Holdings, Inc.; Blaser Swisslube; Exxon Mobil Corporation; BP p.l.c.; CIMCOOL Fluid Technology, LLC; Total; Eni; Henkel AG & Co. KGaA; China Petroleum & Chemical Corporation; Apar Industries Ltd.; MORESCO Corporation; Kuwait Petroleum Corporation (KPC); Petroliam Nasional Berhad (PETRONAS); Indian Oil Corporation Ltd; QualiChem, Inc.; Yushiro Chemical Industry Co., Ltd.; Pennine Lubricants; LUKOIL; The Lubrizol Corporation; HPCL; Chem Arrow Corporation; Idemitsu Kosan Co.,Ltd.; Metalworking Lubricants Company and Royal Dutch Shell.
Global Metalworking Fluids Market Segmentation:
By Category
· Synthetic
· Semi-Synthetic
· Bio-Based
· Straight Oil
· Mineral
· Emulsified
By Product Type
· Removal Fluids
· Protection Fluids
· Forming Fluids
· Treating Fluids
By Application
· Neat Cutting Oils
· Water Cutting Oils
§ Soluble
§ Semi-Synthetic
§ Synthetic
· Corrosion Preventive Oils
· Others
By End-Use
· Metal Fabrication
· Transportation Equipment
· Machinery
· Others
§ General Manufacturing
§ Automotive
By End-Use Industry
· Construction
· Electrical & Power
· Agriculture
· Automobile
· Aerospace
· Rail
· Marine
· Telecommunications
· Healthcare
By Geography
· North America
· South America
· Europe
· Asia-Pacific
Company Share Analysis:
Global metalworking fluids market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of metalworking fluids market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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The Global Metalworking Fluids Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Metalworking Fluids Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.
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