Grinding Fluids Market Forecast and CAGR
According to a recent study by Fact.MR, grinding fluids market is set to witness significant growth in the year 2021-2031. The market size of the fluid treatment is expected to grow at a CAGR of more than 4.5% over the next ten years.
These are the types of liquids used in grinding process for enhancing surfaces of metal. As there is a friction between the two metals, the temperature rises; therefore, liquid treatment is used to reduce the temperature on the surface of the metal.
This helps to achieve a larger finish area and helps extend the life of the tool. Demand is growing as there is a significant increase in manufacturing activities and cutting-edge production technology requires advanced types of liquids that can transfer large amounts of heat.
Metal fluids are an important part of all machining processes such as grinding, shaping, drilling etc. Apart from increasing the tool life, it also helps in washing off the chips produced during machining.
Grinding being a finer process, it has a huge impact as it flows away the minute particles of the metal. All in all, the growth of grinding fluids is expected to show similar trends as that of grinding machines and overall manufacturing sector.
What is Driving Demand for Grinding Fluids?
The demand for machining fluids is growing rapidly as advanced technology and techniques that require higher sharpening and speed of machinery are developing. It is very helpful in lowering the temperature raised due to friction between surface areas of the metal that exceeds the highest levels of precision production.
The demand for fluid is also increasing due to the rising cost of the tip of the tool which reduces the use of the liquid. The life of the tool is greatly improved when the temperature of the metal remains low.
With the development of chemical formulation and active R&D, new fluids are being developed that help to better transfer heat to the metal surface. Owing to mentioned factors the market is expected to gain growth momentum over the forecast period.
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Covid-19 Impact on Global Grinding Fluids
COVID-19 pandemic has forced countries to impose lockdowns and strict social distancing measures across the globe, flattening the global economic curve. This has disrupted almost every market and grinding fluid market has also been affected largely.
COVID-19 pandemic has presented massive disruptions in the demand-supply equilibrium across multiple industries, leading towards economic losses at a global level.
However, regional regulatory agencies and government agencies have taken important steps to address the epidemic and fight effectively. Governments around the world insist on strengthening their infrastructure in the face of disease outbreaks.
As the relaxation in lockdown and production activities resume, demand for machining fluids has seen an increase. This demand is expected to grow with increasing demand for various products and economic growth.
Global Grinding Fluids Market Geographical Outlook
Asia Pacific being the most matured market in terms of revenue accounting for more than 40% of total revenue and is expected to grow in the next ten years. Countries such as China, India, Vietnam and Indonesia are committed to increasing production capacity and thus increasing the manufacturing activities.
These countries are frontrunners because of their low export duty, low labor costs and other resources may attract international companies to set up production facilities in their countries.
In addition, the governments of countries such as India, Vietnam etc. provide incentives for tax cuts, land reform at affordable prices, free foreign investment policies make the establishment of production plants in these countries a viable option for foreign companies.
Whereas the demand for grinding fluid is declining in European countries due to various regulations adopted by the European commission affecting production activities in the region.
The economy of the North American region, as a financially managed economy, has a fair share of demand for machining fluids needed in all mechanical and manufacturing industries.
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Who are the Key Manufacturers of Grinding Fluids?
Some of the leading manufacturers are
- Benz Advancing Solutions
- Eastern Petroleum
- Sun Chem Pvt Ltd
- Witmans Advanced Fluids
- GreenChem Technologies
- Blaser Swisslube
- Cimcool Industrial Products Inc
- Lubrall Industries Private Limited
The manufacturers of grinding fluids are serving to a specific market mostly regional market and are competing to acquire new market. Also, as there are rapid changes in the requirement for new manufacturing technologies, thus the most innovative manufacturer has the opportunity to acquire the new markets quickly.
Grinding Fluids Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
By Type of Fluid
- Straight Oils
- Mineral (Petroleum) Oil
- Animal Oil
- Marine Oil
- Vegetable Oil
- Synthetic Oil
- Water-Soluble Oils (Emulsions)
- Semi-Synthetic Fluids
- Synthetic Fluids
- Straight Oils
- Neat Cutting Oils
- Water Cutting Oils
- Corrosion Preventive Oils
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Is the market research conducted by Fact.MR?
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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