Metalworking Fluids Market Size By Product (Neat Oil, Soluble Oil, Semi-Synthetic Fluids, Synthetic Fluids), By Application (Removal Fluids, Forming Fluids, Protecting Fluids, Treating Fluids), By Industry (Automotive, Aerospace, Construction, Electrical & Power, Agriculture, Marine, Healthcare), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI831  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 394   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global metalworking fluids market revenue in 2019 was USD 11.6 billion and will grow with a CAGR over 4.8% during the forecast period. Indispensable use of these fluids across automotive and metal fabrication industries will complement business growth by 2026.
 

Metalworking Fluids Market Statistics

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Metalworking fluids (MWF) are a class of fluids that are widely used to lubricate or cool metal workpieces when subjected to machining or milling processes. These fluids reduces friction generated between the cutting tool and the work piece thereby improving the work piece quality.
 

The composition of metalworking fluids hugely depends upon its area of applications. The basic properties of these fluids such as cooling and lubricating hugely contributes to the shelf life of the workpiece by avoiding thermal damage.
 

The global metalworking fluids market share will be driven by the augmenting demand for designing applications and metal processing in general manufacturing and automobiles industries. Increasing product demand in the industries such as automation, metal fabrication, steel and original equipment manufacturers (OEM) is analysed to be a major factor propelling the global market size by 2026. The product is majorly used for metal removal, protection, forming metal treating applications in these industries.
 

Volatility in the crude oil prices owing to geopolitical scenario in the Middle East may hamper its demand at some extent over the forecast period. Furthermore, strict government dumping regulations of metalworking fluids shall act as a major downside to the market. However, many manufacturers are seen to innovate new dumping and treatment processes to comply with the ongoing regulations, which shall create new growth avenues in the future.
 

Metalworking Fluids Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 11,654.7 Million (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.8% 2026 Value Projection: 16,079.3 Million (USD)
Pages: 394 Tables, Charts & Figures: 488
Geographies covered (18): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Malaysia, Indonesia, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Product type, Application, End-User and Region
Companies covered (40): Apar Industries Ltd, Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Clariant AG, Lukoil Lubricants, Lubrizol Corporation, TOTAL Sa, Quaker Chemical Corporation, The Dow Chemical Company, Master Chemical Corporation, Milacron, Henkel Corporation, Infineum International Limited, Italmatch Chemicals SPA, Chemetall GmbH, PPG Industries, Inc., Royal Dutch Shell Plc, Idemitsu Kosan Co., Ltd, Nihon Parkerizing Co., Ltd, Yushiro Chemical Industry Co., Ltd., Eastman Chemical Company, Daido Chemical Engineering Corp, Blaser Swisslube AG, HPCL, Indian Oil Corporation Limited, Sinopec, Saudi Basic Industries Corporation (SABIC), Shanghai Parker Chemical, Guangzhou Mechanical Engineering Research Institute (GMERI), SHL Co. Ltd, SK Holdings Co., Ltd., Kyodo Yushi Co., Ltd, N-S Lubricants Co., Ltd, PT Pertamina, Petrofer Chemie H. R. Fischer GmbH + Co. KG, Oemeta, ANGUS Chemical Company
Growth Drivers:
  • Robust growth in commercial vehicle sales
  • Growing metal & steel fabrication business
  • High crude steel production in Asia Pacific
  • Growing aerospace industry in North America
Pitfalls & Challenges:
  • Associated environmental and worker health hazards

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Synthetic fluids shall experience major gains

Synthetic fluids will observe maximum gains of 5.2% CAGR between 2020 and 2026 on account of its superior and consistent performance. Neat oils will showcase potential growth prospects over the projected timeframe owing to their multiple benefits including rust prevention, metal finishing, higher evaporation capability and lubricity.
 

They assist in chip formation and prevent overheating resulting in extending the service life of machine tools. Growing requirements for lowering the operational costs and increasing the efficiency & life of machinery will positively contribute towards escalating the metalworking fluids market demand over the projected timeframe.
 

Removal fluid is anticipated to drive overall market size

Metalworking Fluids Market by Application

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Removal fluids led the overall metalworking fluids market size in 2019 and accounted for more than 50% of the overall volume. Furthermore, removal fluid demand is expected to grow with a highest CAGR 4.9% during the forecast timespan. These fluids offer a wide range of performance capabilities for meeting industrial requirements in grinding and machining operations.
 

Indispensable product application in the automotive sector

Automotive industry had the largest share in 2019 and accounted for over 35% of the overall volume. Increasing disposable income and living standards in countries such as India, Indonesia, among others will further fuel the automotive demand over the forecast period.
 

For instance, according to the OICA, China automotive production in 2015 was 24.5 million units and reached to 27.8 million units in 2018. This growth in automotive production projected positively contribute to the overall metalworking fluids market in coming years.
 

Asia Pacific led the metalworking fluids market in 2019

Metalworking Fluids Market by Region

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Asia Pacific led the market in 2019 and accounted for 45% of the overall industry volume. Increasing automotive customer base in China and India along with robust industrialization in the region will substantially boost the product demand in the coming years.
 

Expansion of manufacturing facilities and production capacities is prominently increasing the product penetration. For instance, in August 2018, Volkswagen Group opened its new FAW-Volkswagen plant in China with production capacity of 1,200 vehicle units per day. In addition, rising government support in India and China to strengthen their manufacturing industries will further complement the metalworking fluids market growth in the near future.
 

Multinational companies held the major share

The major players involved in metalworking fluids market held more than 50% of the total industry share. The ecosystem has presence of some multi-national giants such as FUCHS, Castrol, Quacker, Chem Arrow Corporation, ExxonMobil, The Lubrizol Corporation and Total S.A.
 

Every company has a wide product portfolio which includes metalworking fluids with specifications for almost every application. Furthermore, industry players are adopting various organic and inorganic growth strategies to attain a larger share in the overall market. For instance, Exxon Mobil in 2017 expanded its hydrocarbon fluids capacity by 250,000 tons per year. This expansion is in line with their strategy to enhance their foothold in the metalworking fluids market.
 

The players can also be seen adopting inorganic strategies such as mergers, acquisitions and partnerships to attain strategic dominance over their competitors. For instance, in August 2018, Yushiro Chemical Industries, a manufacturer of metalworking chemicals in Asia Pacific region announced strategic partnership with North America based Qualichem. This partnership agreement is in accordance to their strategy to share technology and material expertise.
 

Metalworking fluids market report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in Kilo Tons and USD million from 2015 to 2026, for the following segments:
 

By Product

  • Neat Oil
  • Soluble Oil
  • Semi-Synthetic Fluids
  • Synthetic Fluids

By Application

  • Removal Fluids
  • Forming Fluids
  • Protecting Fluids
  • Treating Fluids

By End-user

  • Automotive
  • Aerospace
  • Construction
  • Electrical & power
  • Agriculture
  • Marine
  • Healthcare
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • LATAM
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
       

Frequently Asked Questions (FAQ) :

metalworking fluids market revenue in 2019 was USD 11.6 billion
Metalworking Fluids Market will grow with a CAGR over 4.8% during the forecast period
According to the report published by Global Market Insights Inc., the metalworking fluids business is supposed to attain $16 million (USD) by 2026.
Robust growth in commercial vehicle sales, growing metal & steel fabrication business, high crude steel production and rising aerospace industry are the major key factors expected to drive the growth of global market.
Apar Industries Ltd, Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Clariant AG, Lukoil Lubricants, Lubrizol Corporation, TOTAL Sa, Quaker Chemical Corporation, The Dow Chemical Company, Master Chemical Corporation, Milacron, Henkel Corporation, Infineum International Limited, Italmatch Chemicals SPA are some of the top contributors in the industry.
Based on the application, the removal fluids segment registered a significant market share in 2019 and is projected to record a remarkable growth rate throughout the forecast period.

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Premium Report Details

  • Published Date: Mar 2020
  • Pages: 394
  • Tables: 437
  • Charts / Figures: 51
  • Companies covered: 40
  • Countries covered: 18

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