As per the recently published report by MarketsandMarkets™, The “Metalworking Fluids Market by Type (Straight Oils, Soluble Oils, Semi-synthetic Fluids, Synthetic Fluids), Product Type (Removal Fluid, Protecting Fluids, Forming Fluids, Treating Fluids), End-use Industry – Global Forecast to 2029″, size was USD 12.2 billion in 2024 and is projected to reach USD 14.7 billion by 2029, at a CAGR of 3.7%, between 2024 and 2029. The market for metalworking fluids is expanding due to the increase in demand for sophisticated machinery since these fluids are essential for maximizing the longevity and performance of machining operations.
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- 310 Market data Tables
- 59 Figures
- 266 Pages and in-depth TOC on “Metalworking Fluids Market – Global Forecast to 2029”
This report also provides a comprehensive analysis of the companies listed below:
The key players profiled in the metalworking fluids market report include Quaker Houghton (US), Exxon Mobil Corporation (US), BP p.l.c. (UK), TotalEnergies SE (France), FUCHS (Germany), Idemitsu Kosan Co., Ltd. (Japan), Chevron Corporation (US), Chem Arrow Corporation (US), LUKOIL (Russia), China Petroleum & Chemical Corporation (SINOPEC) (China), and Valvoline Inc. (US). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, Asia Pacific, and the Middle East & Africa. They have an established portfolio of reputable products and services, a robust market presence, and strong business strategies.
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Based on type, the metalworking fluids market is segmented as straight oils, soluble oils, semi-synthetic fluids, and synthetic fluids. From them, soluble oils accounted for largest market share, in terms of value, in 2023 and continue to dominate during the forecast period. This dominance is attributed to its excellent thermal stability and cooling capabilities. The demand for soluble oils is also influenced by environmental factors. This quality corresponds with the increasing focus on sustainability and adherence to regulations in modern manufacturing practices.
Based on product type, the metalworking fluids market is segmented as removal fluid, protecting fluids, forming fluids, and treating fluids. Notably, the removal fluid segment emerged as the market leader, accounted for largest market share, in terms of value, in 2023. The properties of removal fluid such as process efficiency, tool life, surface finish quality, and metal removal rates have contributed to the removal fluid segment’s leadership in the metalworking fluids market.
Based on end-use industry, the metalworking fluids market is segmented into transport equipment manufacturing, metal fabrication, machinery, and other end-use industries. The transport equipment manufacturing segment is is estimated to be the largest end-use industry and is projected to register the highest CAGR in terms of value, during the forecast period. This is mainly due to the to the need of high precision components to ensure safety, efficiency, and durability of vehicles.
Based on region, Asia Pacific is the largest market metalworking fluids, in terms of value, in 2023 due to the due to its robust economic growth, increasing population, rapid industrialization rising disposable incomes, and favorable government regulations. Moreover, densely populated countries such as China and India experiences high demand across various sectors, including automotive, manufacturing, and construction. Thus, the demand for metalworking fluids is high in Asia Pacific region. Likewise, the Asia Pacific is projected to be the fastest growing market, in terms of value, during the forecast period 2024 to 2029.
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