Transparency Market Research has published a new
market report titled “Metalworking Fluids Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
According to the report, the global metalworking fluids market was
valued at US$9.91 bn in 2015 and is anticipated to reach US$14.79 bn
by 2024, expanding at a CAGR of 4.6% between 2016 and 2024.
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Metalworking fluids are used as coolants and
lubricants in metalworking processes. They are also known as cutting
fluids. Based on different applications, they have been segmented
into removal fluids, forming fluids, treating fluids, and protecting
fluids. Metalworking fluids are manufactured using different raw
materials and processes such as petroleum distillates, animal fat,
plant oil, air, and water. Metalworking fluids are categorized into
different product type such as neat oil, soluble oil, semi-synthetic
fluids, and synthetic fluids.
Removal fluids accounted for more than 50% volume
share of the global metalworking fluids market in 2015. Growth in
automation and metal fabrication industries is estimated to drive the
market for metalworking fluids during the forecast period. Removal
fluids are employed in lubricating the metal surface while removing
excess metal from the job piece.
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Forming fluids was the second largest application
segment, followed by protecting fluids and treating fluids, in 2015.
Rolling oil, and stamping and drawing fluids are the types of forming
fluids that are generally used in end-user industries such as steel &
metal.
Global demand for metalworking fluids is projected to
increase in the near future due to growth in end-use industries such
as automation, and steel & metal. Waste disposal of metalworking
fluids and health risks to operators are the major constraints likely
to hamper the market growth in the near future. Increase in research
and development activities in the metalworking fluids market to
overcome the environmental disposal issue and health risks to
operators is expected to further stabilize the demand for
metalworking fluids in the near future.
Asia Pacific accounted for major share of the global
market in 2014, driven primarily by the growth in economy of
countries such as China and India and those in the ASEAN region.
Automotive, metal fabrication, and steel & metal industries are
anticipated to expand significantly during the forecast period. This,
in turn, is estimated to boost the demand for metalworking fluids in
the near future.
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Major players operating in the metalworking fluids
market include Castrol Limited, Chevron Phillips Chemical Company,
Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, and Houghton.
This report segments the global metalworking
fluids market as follows:
Metalworking Fluids Market – Application
Analysis
- Removal fluids
- Forming fluids
- Protecting fluids
- Treating fluids
Metalworking Fluids Market - Regional Analysis
North America
- U.S.
- Rest of North America
Europe
- U.K.
- Spain
- France
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- ASEAN
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
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