Metalworking Fluids Market Report

Market Insights

"The global metalworking fluids market size was estimated at USD 11.08 billion in 2022 and is likely to grow at a CAGR of 3.77% during 2023-2028 to reach USD 13.88 billion in 2028."

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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.

Market Dynamics

Market Drivers

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.

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.

Key Players

The following are the key players in the metalworking fluids market (arranged alphabetically).

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

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

Product Trends

"The synthetic fluids segment accounted for the largest market share."

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.

Application Trends

"The removal fluids segment accounted for the largest market share."

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.

Industry Trends

"The construction segment accounted for the largest market share."

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.

Regional Insights

"Asia-Pacific accounted for the largest market share."

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.

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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?

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 (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s metalworking fluids market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

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 1000 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 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

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.

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