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Metalworking Fluids Market

Metalworking Fluids Market

Metalworking Fluids Market By Product (Removal, Protection, Forming and Treating Fluids), By Function (Neat Cutting Oils, Water Cutting Oils, Straight Oils, Emulsified Oils, Corrosion Preventive Oils), By Category - Global Market Insights 2021 to 2031

Metalworking Fluids Market
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Metalworking Fluids Market Outlook

The global metalworking fluids market was valued at around US$ 9 Bn in 2020, and is expected to reach US$ 12 Bn by 2031, rising at a CAGR of 4%. Demand for removal fluids is projected to accelerate at a CAGR of 3% across the assessment period of 2021 to 2031.

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Key Points Covered in Metalworking Fluids Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Consumption of Metalworking Fluids in 2021
  • Competition Mapping and Benchmarking
  • Metalworking Fluids Market Size in 2021
  • Brand Share and Market Share Analysis
  • Mineral-Based Metalworking Fluids Trends
  • Key Product Innovations and Regulatory Climate
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • Multi-Phase Metalworking Fluids Trends
  • COVID-19 Impact on Metalworking Fluids Industry and How to Navigate
  • Emerging Trends in Bio-Based Metalworking Fluids
  • Recommendation on Key Winning Strategies

Consumption Analysis of Metalworking Fluids from 2016-2020 Vs Market Outlook for 2021-2031

As per Fact.MR - a market research and competitive intelligence provider, the global market for metalworking fluids was valued at US$ 9 Bn in 2020.

Growing requirements for lowering the operational costs and increasing the efficiency & life of machinery will drive toward growing the metalworking fluids market demand over the projected time period.

Synthetic products give the advantages such as wear resistance, excellent surface finish, and the ability to improve tool life which in turn has boosted the market requirement in the end-user industries including automobile, automobile, and aerospace.

Changes in the management & application industry, R&D activities, and new product developments are other major factors that are expected to drive the market at a 4% CAGR from 2021 to 2031.

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What are the Restraints being Encountered by Metalworking Fluid Manufacturers?

High cost and toxicity of product are major factors, may hamper the demand for metalworking fluids for general manufacturing and restrain growth of the market to a certain extent. In addition, availability of substitutes is a challenge faced by the metal protection fluids market.

The major goal and intention of government agencies is to protect people, environment, and workers from hazards, which are closely related to industrial manufacturing. Thus, there are many agencies working for minimizing the environmental hazards caused by these fluids.

Several key regulatory agencies around the world such as OSHA (Occupational Safety and Health Organization) and EPA (Environmental Protection Agencies) have policies in place to ensure the safe disposal of used cutting fluids into the environment, which could hamper the growth of metalworking fluids market.

Metalworking fluids market by Fact.MR

Which Region is Predicted to Be the Most Lucrative Market for Metalworking Fluid Suppliers?

The Asia Pacific region leads with more than 40% of the share in the global market for metalworking fluids owing to the region having a stronghold in terms of manufacturing for fluids.

Semi-synthetic metalworking fluids, synthetic metalworking fluids and water cutting fluids will witness high uptake in the Asia Pacific region that are expected to be growth engines for the market in the foreseeable future.

The Asia Pacific region is set to dominate the market during the forecast period primarily due to increasing demand from the agriculture and construction sector. Growing industrialization and economic development are driving the growth of the Indian heavy machinery industry.

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Country-wise Analysis

What is the Metalworking Fluids Demand Outlook for the U.S.?

The market in the U.S was valued at over US$ 2 Bn in 2020. Demand in the U.S. is anticipated to be led by rise in sales of neat cutting oil that is majorly used for aluminum products.

The U.S. is considerably going through a shift in its manufacturing industry from steel machinery to aluminum products and this is because of aluminum unique properties, such as easy molding and lightweight properties.

Therefore, increase in the use of aluminum is predicted to create profitable opportunities for the consumption of neat cutting oil, and thus, simultaneously boosting the market.

Latest trends of metal removal fluids in the U.S, Growing demand for straight oil, corrosion preventive oils, and increasing sales of forging & quenching oil, emulsified oil in various industries by metalworking fluid manufacturers in the country will further create lucrative market growth opportunities.

What are the Growth Opportunities for Metalworking Fluids Providers across China?

By 2031, China is expected to have a market size of roughly US$ 3 Bn. The China metalworking fluids market is mainly driven by growing demand for bio-based metalworking fluids, efficient metalworking fluids, and treating fluids.

Presence of large manufacturing facilities, aerospace industry, and marine and automotive industries, coupled with relatively low prices of metalworking fluids is poised to assist market growth over the coming years.

Category-wise Insights

Why is the Popularity Removal Fluids Rapidly Rising?

Removal fluids are crucial ingredients for metal removal and forming. They also help in extending the service lives of the tools, saving thousands of Dollars.

These fluids usually contain high-performance soluble oil and semi-synthetic emulsion technology and offer a wide range of performance capabilities to meet the industrial requirements for machining and grinding operations. Hence increasing the sales of removal fluids and metal protecting fluids.

Removal fluids are designed to work in a variety of hard and soft water qualities and offer low foam and long-term corrosion protection for machines and components. They are supplied in concentrated form and require mixing with water at the point of use.

In recent years, top companies in the metal removal fluids sector have adopted advanced technologies. Thus, currently, the right fluid for a particular process has the potential to significantly increase efficiency and process productivity.

Why is Transportation Equipment Industry Demand for Metalworking Fluids Dominating the market?

Based on application, metalworking fluids for the transportation equipment industry accounted for a share of 50% in the market. Metal treating fluids are predominantly used in transportation equipment in automotive and aerospace. These equipment are involved in production of automotive components and aerospace machining where the equipment requires regular lubrication with cooling.

Use of metalworking fluids ensures emission of non-hazardous by-products and makes the workplace free of contamination. Furthermore, use of exotic metals, such as titanium, platinum, palladium, gallium, etc., in both engine and powertrain production in automobiles and other applications has also increased the demand for metalworking fluids.

On the backdrop of the aforementioned factors, rising application of metalworking fluids for transportation equipment will increase at a significant rate over the decade.

How Has COVID-19 Impacted Demand for Metalworking Fluids?

The global market for metalworking fluids has been severely impacted by the outbreak of COVID-19. Owing to lockdowns implemented across various countries, national and international transport was hampered, which significantly impacted the grinding fluids market.

Insufficiency in raw material supply is expected to hamper the production rate of metalworking fluids, which will negatively impact forming fluids sales.

Strict measures taken to curb the spread of the coronavirus have affected several industries including automotive, building & construction, and production units of various manufacturing plants.

The pandemic has resulted in a huge supply-demand gap and it is directly affecting the production chain of the industries. Supply chain disruptions, labor unavailability, and a slowdown in logistics has reduced the demand for any industrial activity, in turn affecting the industries that are highly dependent on metalworking fluids.

These factors are likely to hit the market globally. But slowly, with passing time and decreasing rates of positive cases of COVID-19, the market is regaining its position and stabilizing. This is positively affecting the growth of multi-phase metalworking fluids in 2021.

Competitive Landscape

Metal forming fluid manufacturers & synthetic metalworking fluids are aiming towards establishing supply contracts with end-use industries for revenue generation as project cost remains on the higher side.

Top metalworking fluids formulators & suppliers are primarily aiming to carry out strategic acquisitions, collaborations, and launching innovative products.

  • In February 2020, Quaker Chemical Corporation opened a new production line in Dahej, India. This new production line will manufacture rolling oils and metalworking fluids for steel & metal industries in India and the Middle East & Africa.

Metalworking Fluids Market Report Scope

Attribute

Details

Market size value in 2020

USD 9 Billion

Market forecast value in 2031

USD 12 Billion

Growth Rate

CAGR of 4% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Category
  • Function
  • Product
  • Application
  • Region

Key Companies Profiled

  • BP
  • Chevron Corporation
  • Houghton International
  • ExxonMobil Corporation
  • Total S.A.
  • Apar
  • Fuchs Petrolub SE
  • Hindustan Petroleum Corporation Limited
  • Castrol Limited
  • Indian Oil Corporation Limited
  • Lubrizol
  • Gazprom
  • Pertamina
  • Columbia Petro
  • Croda International Plc
  • China Petrochemical Corporation
  • Yushiro Chemical Industry Co. Ltd.
  • Idemitsu Kosan Co. Ltd
  • PETRONAS Lubricants International
  • Quaker Chemical Corporation

Pricing

Available upon Request

Key Market Segments in Metalworking Fluids Industry Research

  • Category

    • Semi-Synthetic Metalworking Fluids
    • Synthetic Metalworking Fluids
    • Mineral-Based Metalworking Fluids
    • Bio-Based Metalworking Fluids
  • Function

    • Neat Cutting Oils
    • Water Cutting Oils
    • Straight Oils
    • Emulsified Oils
    • Corrosion Preventive Oils
  • Product

    • Removal Fluids
    • Protection Fluids
    • Forming Fluids
    • Treating Fluids
  • Application               

    • Metalworking Fluids For Metal Fabrication
    • Metalworking Fluids For Heavy Machinery
    • Metalworking Fluids For Transportation Equipment
    • Metalworking Fluids For General Manufacturing

- FAQs -

The global metalworking fluids market is currently worth more than US$ 9 Bn.

From 2016-2020, sales of metalworking fluids registered a CAGR of 2%.

Main factors for the growth of the market include rising greenfield projects and increase in demand from important sectors such as energy, manufacturing, process, and metals.

Major metalworking fluid manufacturers are BP, Chevron Corporation, Houghton International, ExxonMobil Corporation, and Total S.A., as per ratings on the basis of market share, market reach, clientele, etc.

The Asia Pacific region, with 40% of the global market share, will largely contribute to the growth of metalworking fluids revenue.

Metalworking fluids for transportation equipment account for a share of 50% in the market.

Bio-based MWF is set to register growth at a CAGR of 1% in Germany with.

The U.S., China, U.K., India, and Germany are expected to drive most of the demand for metalworking fluids.

Synthetic metalworking fluids sales in Japan are forecasted to reach over US$ 1 Bn by 2031.

The global market is anticipated to rise at a CAGR of 4% over the forecast period of 2021 to 2031.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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