Metalworking Fluids Market Is Expected To See Extensive Growth Owing To Increasing Demand From The Manufacturing Sector Till 2022: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global metalworking fluids market size was valued USD 9.62 billion in 2016 and The market is characterized by competitive pricing strategies due to growing number of small-scale suppliers.

According to a report published by Grand View Research, Inc.; the global metalworking fluids market is anticipated to reach a valuation of around USD 11.99 billion by 2022. Increasing usage of metalworking fluids in automotive and heavy machinery due to its efficient performance can drive the market over the forecast period (2012 to 2022). In addition, high government funding and growing infrastructure development can boost the market growth in the coming years.

Growing production volumes in sectors such as automobile, marine, aerospace, and defense are likely to drive the growth of the market for metalworking fluids. These fluids are extremely useful in machine operations with a high risk of damage. This has increased the demand from manufacturing units with low volumes and restricted cost structures, largely preferred by small manufacturers. This factor is anticipated to propel the global market.

Machinery producing techniques such as machining, forming, forging, stamping, and bending are used to shape specific pieces of metal. Metalworking fluids can be used for various machining operations like turning, drilling, grinding, milling, and broaching. They are also being used to increase tool life and to provide excellent surface finish. These factors are expected to impel market growth in near future. However, high cost of bio-based products can challenge the market expansion for the next few years to come.

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U.S. metalworking fluids market size, by product, 2012 - 2022 (Kilo Tons)

The worldwide metalworking fluids market can be segmented on the basis of material, application, and regions. Based on material, the market can be categorized into mineral, synthetic, and bio-based. As per application, the market can be fragmented into neat cutting oils, corrosion preventive oils, water soluble cutting oils, and others. The mineral based oil segment held around 52.1% share of the global market in terms of volume in 2014. In 2016, the neat cutting oil segment held over 41.62% of total volume share. Low cost and high demand from manufacturing sectors are anticipated to be the primary driving factors.

Geographically, the market for metalworking fluids can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. North America is likely to showcase high growth over the forecast period. This growth can be attributed to high demand from heavy machinery, automobile, manufacturing, and construction industries among others.

Europe is expected to showcase steady growth in the forthcoming years. Strict rules by the EU commission on the use of metalworking fluids in industries due to safety and environmental concerns can steer the regional development. These regulations have also increased the preference for bio-based and semi-synthetic products. The manufactures in the region are focusing on reducing fluid prices and to provide high performance cutting fluids.

View more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

Global metalworking fluids market share, by application, 2016 (%)

Asia Pacific is likely to register the fastest growth at around 4.4% CAGR over the forecast period. This growth can be accredited to rapid urbanization, growing government expenditure, and high consumer spending leading to rapid development of infrastructure and construction industry. The neat cutting oils have observed a high demand from the manufacturing sector in the region due to their low cost. Price sensitivity between original equipment manufacturers (OEMs) is anticipated to impel the regional market.

Developing countries such as India, Japan, and China are the major demand drivers as the growth of building and construction industries is high in these countries. Several exploration and production activities of crude oil from various Chinese petroleum companies are projected to create positive outlook for the market. Increasing investments from various automobile companies to increase their business presence in the region is important contributor to drive demand in the region. Favorable policy structure and availability of subsidies can boost the demand from machinery and transportation equipment industries.

Increasing production capacity of application sectors like automobile, defense, marine, and aerospace is expected drive the regional market for metalworking fluids market over the forecast period. The existence of key market participants is likely to increase investments in development of machinery and transportation equipment industry. This may further fuel the regional expansion over the forecast period.

Some of the leading companies operating in the market for metalworking fluids include Tide Water Oil Co., Kuwait Petroleum International, Yushiro Chemical Industry Co. LTD, Shell, and BP. The market is extremely competitive and fragmented. Most market participants are investing heavily in research and development to discover innovative technologies. Acquisitions and associations between key companies is also anticipated to bode well for the market.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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