Metalworking Fluids Market Size Estimated to Reach USD 15.1 Million by 2030

Posted on 2022-06-17 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, June 17, 2022 — /EPR Network/ —

Metalworking Fluids Industry Overview

The global metalworking fluids market size is expected to reach USD 15.1 million by 2030, as per the new report by Grand View Research, Inc., registering a CAGR of 3.8% in the forecast period. The demand is attributed to arise in demand for automotive and industrial machinery. Individual end-use sectors, such as machinery, metal fabrication, and transportation equipment, are driving the expansion of the market.

The market is also expected to be driven by strong development in the machinery and transportation equipment end-use industries over the projected period. Manufacturing is one of the core industries in North America and Europe. Advances in the manufacturing methods for the production of sophisticated end-use products, coupled with the increase in the exports of construction machinery and power, agricultural, and automotive equipment, have fueled the market growth.

Metalworking Fluids Market Segmentation

Grand View Research has segmented the metalworking fluids market report on the basis of product, application, end-use, industrial end-use, and region:

Based on the Product Insights, the market is segmented into Mineral, Synthetic and Bio-based.

The mineral segment dominated the market accounting for the largest share of more than 48.1% of the global revenue in 2021. The high share is attributed to the consumption of mineral-based oils owing to their lowcost.
Synthetic oils are in high demand due to their ability to reduce friction between work pieces, eliminate waste, and extend sump life. Large-scale manufacturers in many countries have embraced semi-synthetic MWFs, resulting in an increase in synthetic MWF penetration over the last few years, which is expected to continue during the projected period.

Based on the Application Insights, the market is segmented into Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils and Others.

The neat cutting oil segment accounted for the largest share of more than 42.00% of the global revenue in 2021. The growth is attributed to a rise in demand from the automobile, aerospace, marine, and construction sectors.
The water-cutting oil segment accounted for the second-largest market share in 2021. The growth is credited to the increase in the consumption of these fluids in various complex machining operations. These fluids are utilized in a variety of procedures where heat dissipation is critical for a successful machining process and high-quality products.

Based on the End-use Insights, the market is segmented into Metal Fabrication, Transportation Equipment, Machinery and Others

The machinery segment dominated the market in 2021 and accounted for the largest share of more than 41.00% of the global revenue due to high product demand. Significant growth of the MWFs market is projected to be aided by the rising demand from construction equipmentmakers.
The transportation equipment segment is expected to grow at the fastest CAGR over the forecast period. The growth is attributed to the high product demand in transportation equipment along with development in infrastructure.

Based on the Industrial End-use Insights, the market is segmented into Construction, Electrical & Power, Agriculture, Automobile, Aerospace, Rail, Marine, Telecommunication and Healthcare

The construction segment dominated the market with the largest revenue share of 28.6% in 2021 due to increased demand for construction machinery and related parts required for industrial, residential, and commercial construction.
The automobile industry is anticipated to witness the fastest CAGR over the forecast period owing to a rise in spending capacity on luxurious cars across the globe. Different metals, such as steel, aluminum, and others, need the machine shop to use particular metalworking processes to increase productivity and optimize the cost.

Metalworking Fluids Regional Outlook

North America
Europe
Asia Pacific
Central & South America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The global market is highly competitive with the big international brands focusing on the development of long-term relationships with end-users. With a rise in the manufacturing, automotive, and transportation sectors, the competition is also anticipated to increase in the coming years.

Some prominent players in the global Metalworking Fluids market include

Houghton International, Inc.
Blaser Swisslube AG
BP plc
Exxon Mobil Corp.
Total S.A.
FUCHS
Chevron Corp.
China Petroleum & Chemical Corp.
Kuwait Petroleum Corp.

Order a free sample PDF of the Metalworking Fluids Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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