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Quenching Fluids & Salts Market Size

  • Report ID: GMI4865
  • Published Date: Jan 2022
  • Report Format: PDF

Quenching Fluids & Salts Market Size

Global Quenching Fluids & Salts Market size was registered at about USD 1.7 billion in 2020 and is expected to showcase considerable growth at a CAGR of 5.5% from 2021 to 2027 owing to growing product demand from the automotive industry.

 

Quenching fluids & salts are those type chemical products that are utilized during the processing of various type of metals to achieve the required metallurgical properties in the metal. The heat treatment process is generally an internal process, which is carried out by commercial heat treatment firms and also by various end-user industries & metal working industries that utilize the heat treatment process inside their units.

 

quenching fluids & salts market outlook

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Growing industrialization in various emerging economies including India, Brazil, Vietnam, and Mexico coupled with increasing urbanization is driving the quenching fluids & salts market over the projected period. Moreover, the automotive industry requires heat treatment process to achieve the desired metal characteristics.
 

The rising population and urbanization rate have a positive impact on the housing sector, driving the overall construction industry. The rising disposable income has also driven the demand for various electrical and electronic equipment. Furthermore, the rapidly evolving technological developments along with the need to shape metal properties will continue to propel the demand for quenching fluids & salts.
 

The rapidly proliferating global automobile industry and frequent launches of passenger automotive are propelling industry growth. Various key government initiatives around the world have propelled the automobile industry. Moreover, the recent push toward a green and sustainable development in the automotive industry will create new opportunities for the quenching fluids & salts market.
 

Governments in various regions are focused on strengthening their public transport systems to reduce air pollution. For instance, in November 2019, the Government of India has drawn a plan where it would buy buses worth approximately USD 1.48 billion to further strengthen public transport in the country.

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

The global quenching fluids & salts market share was valued at around $1.7 billion in 2020 and is anticipated to depict a steady CAGR of 5.5% over the forecast period of 2021-2027.

The oil products may register a CAGR of 5.3% in the overall market through 2027 as a wide range of oils are readily available which are used to quench different types of metals, whereas special quenching oils are used to fulfil custom requirements and in various heat treatment processes.

The cold quenching application was valued at more than $1 billion in the quenching fluids & salts industry in 2020 as this process is finding extensive use in a variety of automotive parts, such as fastening tools, springs, and different forged components.

In the overall market, the aerospace & defense sector exceeded a valuation of $220 million in 2020 and is anticipated to go beyond $320 million by 2027 as quenching fluids and salts are used in the heat treatment processes to make crucial components.

Quenching Fluids & Salts Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 14
  • Tables & Figures: 291
  • Countries covered: 24
  • Pages: 250
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