May 13, 2020
According to the research report titled ‘Metalworking Fluids Market Size By Product, By Application, By Industry, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, worldwide metalworking fluids market is set to record a lucrative growth through 2026.
Metalworking fluid is a type of neat oil or water-based fluid which offers cooling and lubrication in applications such as industrial machining and shaping of metals. These fluids are also used to eradicate metal particles during grinding processes. They also offer corrosion protection for various machine components and help in removal of chips or swarf from cutting zones. Extensive use of these fluids in construction, marine, automotive and other end-use industries is a major factor driving the growth of metalworking fluids market.
Based on product landscape, soluble oil segment is predicted to expand with a CAGR of 4.5% during 2020-2026. Soluble oils are widely adopted in metal cutting applications as they provide enhanced surface finish as well as longer tool life.
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Meanwhile, semi-synthetic fluids segment is expected to account for one third of market share during the forecast period. Growing demand for semi-synthetic fluids in general machining industry, aerospace, automotive and shipbuilding sectors is fueling the segmental growth.
Worldwide metalworking fluids market share from protecting fluids application is reckoned to witness a y-o-y growth rate of 4.8% between 2020 and 2026. The product offers exceptional corrosion protection and lubrication properties. Parallelly, treating fluids application segment is set to record a 3.8% CAGR through 2026.
Citing the end-use landscape, the construction sector is expected to register a growth rate of 4.5% during 2020-2026. Increasing infrastructural development across developing nations is favoring the market scenario. Alternatively, electric & power segment is expected to grow by 3% over the forecast period, primarily due to growing population, rapid industrialization and changing consumer lifestyle.
Global metalworking fluids market size from agriculture sector is anticipated to witness a y-o-y growth rate of 3.5% between 2020 and 2026. Growing demand for agricultural products, rising per capita income and improving economic conditions are augmenting the market outlook.
Considering the geographical landscape, Europe metalworking fluids industry is presumed to expand with a CAGR of 4% during 2020-2026, primarily due to booming automotive and marine industries. On the other hand, metalworking fluids market in Latin America is expected to showcase a growth rate of 4.5% over the analysis timeframe, owing to growing aerospace and construction sectors.
Henkel AG & Co. KGaA, Milacron, Master Chemical Corp. (Master Fluids Solutions), The Dow Chemical Co., Quaker Chemical Corp., Total SA, Lubrizol Corp., LUKOIL Lubricants, Clariant AG, Exxon Mobil Co., Chem Arrow Corp., Chevron Phillips Co. LP, Castrol Ltd. and Apar Industries Ltd. are key players in metalworking fluids market.