December 17, 2020
As per the research report titled ‘Quenching Fluids & Salts Market Size By Product Type, By Industry, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, overall quenching fluids & salts industry remuneration is expected to see a notable hike during 2020-2026.
According to industry experts, increasing residential infrastructure development activities is major growth propellant for global quenching fluids & salts market. Moreover, high product demand from several end-user industries like automotive, and mining is positively impacting the market dynamics.
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For those unfamiliar, quenching is a complex process wherein the desired hardness and mechanical characteristics of a metal component is attained through controlled cooling from high temperature. This process is performed using a spray induction method or immersion of the element in a bath of fluid.
Based on product terrain, global quenching fluids & salts market from polymer segment is set to register a yearly growth rate of 5.5% over the forecast timespan. Better safety and flexibility over its counterparts, along its applicability in significantly reducing the risk of distortion and cracking are favoring the use of polymer quenching.
Elaborating on the application spectrum, the industry is split into cold quenching and hot quenching. Hot quenching segment is expected to add USD 900 million to overall quenching fluids & salts market remuneration, largely driven by exhaustive utilization in a wide array of automotive metal components.
Speaking of end-user industry, domestic segment is expected to record 4.3% over the analysis period, attributable to increasing development of residential spaces across the globe.
Considering the regional outlook, trusted projections cite that Latin America quenching fluids & salts market size is anticipated to reach USD 145 million by the end of the forecast duration.
Speaking of the competitive arena, Exxon Mobil Corp., Total S.A., Castrol Ltd., Idemitsu Kosan Co., Ltd., Park Thermal Corp., Fuchs Petrolub SE, Condat Corp., Croda International plc, Chemtool, Inc., Chevron Corp., Quaker Chemical Corporation d/b/a Quaker Houghton, Petrofer, and DuBois Chemicals, Inc. are the top contenders in global quenching fluids & salts market.