Quenching Fluids & Salts Market size to exceed $2.31 billion by 2026
Published Date: November 23, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights, Inc., the Quenching Fluids & Salts Market size is estimated to surpass USD 2.31 billion by 2026. Rising urbanization and growing residential construction industry coupled with the proliferating automotive sector will positively affect the product demand over the study timeframe.
The quenching fluids & salts market is likely to be driven by the proliferating automotive and aerospace & defense sectors across the globe. Heat treatment is one of the most essential treatment processes for several materials to enhance their mechanical properties including durability and rigidity, following certain temperature change methods. Some of the major consumers of heat treatment metal component products are the automotive, aerospace & defense, machinery, and base metal sectors, among others.
Innovations in quenching techniques will provide an opportunity for product expansion
Heat treatment quenchants are available in oil, polymer, and salt forms. Innovations in the usage of polymer quenchants for the efficient heat treatment of alloy grates are expected to drive the quenching fluids & salts market growth. Heat treatment solution providers, such as Proclad Group, have developed techniques that use aqueous polymers to cool the alloy-grade very rapidly without affecting the component strength.
Water quenching used to quench AISI 8630M is expected to cause around 25% UT failure rate. The new system used with polymer quenchants enables users to achieve a 0% UT failure rate without adversely affecting the mechanical properties of the components.
Browse key industry insights spread across 250 pages with 273 market data tables & 18 figures & charts from the report, “Quenching Fluids & Salts Market By Product Type (Oil [Slow-speed Oil, Medium-speed Oil, Fast-speed Oil, Special Quenching Oil], Polymer [Inverse Solubility Type, Up-concentration Type], Salts [Nitrate-based Salts, Chloride-based Salts]), By Application (Hot Quenching, Cold Quenching), By Industry (Automotive, Aerospace & Defense, Mining, Domestic), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Improved safety and low processing costs associated with polymer quenchant are growing its popularity in the end-user industry
Polymer product type in quenching fluids & salts market is expected to grow by around 5.5% CAGR through 2026. Stringent environment regulations adopted by several developed economies, such as European countries, have resulted in the growing popularity of polymer quenchants. Polymer quenchant minimizes the risk of catching fire during quenching processes, which is higher in oil quenchant products. Improved safety compared to oil quenchants along with lower overall processing costs of heat treatment firms with polymer quenchants are further supporting product demand.
Hot quenching application in quenching fluids & salts market is expected to generate around USD 995 million by 2026. These quenchants are used at relatively higher temperatures and formulated with selective base stocks with thermal stability and high oxidation resistance. Several automotive components including car parts, pinion shaft, gears, and bearing are quenched with warm and hot quenching products.
The quenching fluids & salts market from the aerospace & defense sector is expected to grow at a CAGR of 5% through 2026. Some of the critical heat-treated components used in the aerospace sector are jet engine components, landing gears, and others. Growing domestic air travel across emerging economies including India, Indonesia, and Malaysia, among others coupled with rising international tourism is driving the aviation sector.
According to the International Air Transport Association (IATA), in 2019, global passenger traffic, i.e., Revenue Passenger Kilometers (RPKs), grew by around 4.2% compared to 2018. Furthermore, the growing business aviation sector and the rising popularity of low-cost carriers in Europe are driving the market growth.
The Europe quenching fluids & salts market is expected to generate around USD 510 million revenue by 2026 owing to the considerable growth in the automotive and tooling industries. Rising investments in setting up new automotive production facilities and growing demand for luxury vehicles are expected to drive the market growth. Europe has stringent environmental & safety regulations, thereby several metal treatment companies are opting for polymer quenchant products in recent years.
Some of the key participants involved in the quenching fluids & salts industry include DuBois Chemicals, Quaker Houghton, Petrofer, Chemtool Incorporated (Dow), Chevron Corporation, and CONDAT, among others. Expansion of distribution networks and mergers & acquisitions are among the key strategies adopted by players to enhance their competitiveness in the market.
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