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  • Metalworking Fluids Market Forecast | 2023-2028

    Metalworking Fluids Market Forecast | 2023-2028

    Metalworking Fluids Market Forecast | 2023-2028
    Report code - SR1202 Delivery - 2 Weeks
    Metalworking Fluids Market Size, Share, Trend, Forecast, & Industry Analysis – 2 See more...

    Market Insights

    The metalworking fluids market is estimated to grow from USD 11.08 billion in 2022 and is likely to grow at a CAGR of 3.77% during the forecast period to reach USD 13.88 billion by 2028.

    Metalworking-fluids-market-size

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    What are Metalworking Fluids?

    Metalworking fluid (MWF) refers to a class of oils and other liquids that are used to lubricate and/or cool metal workpieces as they are ground, milled, machined, and so on. MWFs help to prevent burning and smoking by reducing heat and friction between the cutting tool and the workpiece.

    Metalworking Fluids Market Report Overview

    Market Size in 2028

    USD 13.88 Billion

    Market Size in 2022

    USD 11.08 Billion

    Market Growth (2023-2028)

    CAGR of 3.77%

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the key players in the market are-

    • ExxonMobil
    • Castrol
    • Quacker
    • Chem Arrow Corporation
    • The Lubrizol Corporation
    • Total S.A.
    • FUCHS

    Market Dynamics

    The growth of the heavy machinery industry is the primary driver of the market. Furthermore, the demand for metalworking fluids is bolstered by the increasing use of lightweight materials in high-performance applications. The manufacturing of involute geometrics from lightweight metals necessitates proper lubrication, boosting metalworking fluid sales.

    Metalworking-fluids-market-snapshot

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    The rising demand for vehicles is the primary driving force behind the increased demand for metalworking fluids. The automotive industry is a major consumer of metalworking fluids, as MWFs are used in the manufacturing of engines, transmissions, and other automotive parts. The growth of the automotive industry is expected to drive the demand for MWF in the coming years.

    Segments Analysis

    By Product Type

    The market is segmented as neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids. Synthetic fluids are expected to experience the highest growth during the forecast period, owing to their superior and consistent performance. On the other hand, neat oils hold a market share of more than 40% in 2022 and are likely to witness promising growth possibilities over the assessment period, on account of their multiple benefits including rust prevention, metal finishing, higher evaporation capability, and lubricity.

    By Application Type

    The market is segmented into removal fluids, forming fluids, protecting fluids, and treating fluids. Removal fluids are estimated to register the highest growth during the assessment period. The growth of the segment can be attributed to these fluids owing to a wide range of performance capabilities for grinding and machining processes in the industrial sector.

    By Industry Type

    The market is segmented as automotive, aerospace, construction, electrical & power, agriculture, marine, healthcare, and others. The construction segment holds a market share of more than 27.2% in 2022 and is likely to remain the dominant segment during the assessment period. Excavators, loaders, forklifts, cranes, dozers, and other types of machinery are just a few examples of equipment that the construction sector manufactures.

    In addition, the sector comprises a range of ferrous and non-ferrous components for interior and exterior applications, including those for garage doors, gates, sealing angles, shutters, balconies, window frames, stair railing grills, and parking spot blinds, among others. The segment is expected to grow throughout the assessment period as a result of urbanization and an increase in investments in building and construction activities.

    By Region

    Asia-Pacific dominated the market in 2022 and accounted for more than 40% share of the overall industry volume. The region is estimated to maintain its indomitable lead during the forecast period as well. Increasing automotive customer bases in China and India along with robust industrialization in the Asia-Pacific region is expected to significantly boost product demand in the coming years.

    Metalworking-fluids-market-region

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    Segmentation

    The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

    The market is segmented into the following categories:

    By Product Type:

    • Neat Oil
    • Soluble Oil
    • Semi-Synthetic Fluids
    • Synthetic Fluids

    By Application Type:

    • Removal Fluids
    • Forming Fluids
    • Protecting Fluids
    • Treating Fluids

    By Industry Type:

    • Automotive
    • Aerospace
    • Construction
    • Electrical & Power
    • Agriculture
    • Marine
    • Healthcare
    • Others

    By Region:

    • North America 
    • Europe
    • Asia-Pacific
    • Rest of the World

    Report Features

    This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the metalworking fluids market.

    How lucrative is the future?

    The market forecast and trend data and emerging trends.

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts.

    Which are the most attractive market segments?

    Market segment analysis and Forecast.

    Which are the top players and their market positioning?

    Competitive landscape and Market share analysis.

    How complex is the business environment?

    Porter’s five forces, PEST, and Life cycle analysis.

    What are the factors affecting the market?

    Drivers & challenges.

    Will I get the information on my specific requirement?

    10% free customization.

    Target Audience

    The target audience of the market includes-

    • MWF distributors
    • MWF suppliers
    • MWF manufacturers
    • Logistics organizations
    • Government bodies

    Critical Questions Answered in the Report-

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Customization

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players).
    • SWOT analysis of key players (up to 3 players).

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    Metalworking fluid refers to a class of oils and other liquids that are used to lubricate and/or cool metal workpieces as they are ground, milled, machined, and so on. MWFs help to prevent burning and smoking by reducing heat and friction between the cutting tool and the workpiece.

    The metalworking fluids market is expected to grow at a CAGR of 3.77% during the assessment period.

    The metalworking fluids market size is estimated to grow from USD 11.08 Bn in 2022 to USD 13.88 Bn by 2028.

    The growth of the heavy machinery industry is the primary driver of the market. Furthermore, the demand for metalworking fluids is bolstered by the increasing use of lightweight materials in high-performance applications. The manufacturing of involute geometrics from lightweight metals necessitates proper lubrication, boosting metalworking fluid sales.

    Asia-Pacific is estimated to be the largest market for metalworking fluids during the forecast period.

    FUCHS, Castrol, Quacker, Chem Arrow Corporation, ExxonMobil, The Lubrizol Corporation and Total S.A. are the key companies in the market.

    The synthetic fluids segment has the largest share of the market during the estimated time.

    The study period of the market is 2017-2028.

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