Metalworking Fluids Market Value Trends

Vijay Ovhal
Vijay Ovhal 1/4/2023 8:17:09 AM

Metalworking
Fluids Market Value, Trends & Share Report, 2026

Global metalworking fluids (MWF) market forecast will be
mainly driven by robust demand across aerospace, defense, marine, and
automotive applications. Rapid industrialization and urbanization, particularly
in emerging economies, and the subsequent growth of the construction sector is
anticipated to fuel the demand for metalworking activities in the near future.

Many countries including China, India, Japan, and Saudi
Arabia are increasingly spending on defense on account of increased security concerns
and threats. Expansion of the defense sector, a major consumer of metalworking
fluids, is expected to augment the market share significantly. Global Market
Insights, Inc., predicts that global metalworking fluids market size will be
worth US$15 billion by 2025.

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The global aerospace & defense sector application
segment is projected to grow at a healthy 4.1% CAGR up to 2025. This can be
attributed to the recovery of global economies and stable commodity prices
which has consequently increased the demand for air travel and fuel military
budgets. Lucrative growth in commercial aircraft sector will undeniably
complement MWF industry outlook over the coming years.

Metalworking fluids can be segmented into synthetic fluids,
semi-synthetic fluids, soluble oil, and neat oil based on products. Soluble oil
segment held a dominant revenue share in global MWF industry during 2017
followed by semi-synthetic fluids.

In recent years, the demand for synthetic fluids in
aerospace applications has been rising steadily. This can be linked with
advantages such as non-flammability at higher temperatures and excellent
resistance to corrosion and rust. Synthetic fluids are anticipated to record
the highest CAGR over 2018-2025.

On the basis of applications, removal fluids accounted for one
of the largest revenue shares in 2017 followed by forming fluids. Forming
fluids are expected to experience strong demand from automobile and steel
sectors and will register a prominent CAGR during the analysis period. Presence
of several multinational giants as well as large number of medium-size
enterprises will complement MWF market size.

Asia Pacific dominated the global MWF industry size in 2017
on account of robust growth of the automobile and manufacturing sector. The
region is expected to lead the industry up to 2025 followed by Europe. Rapid
industrialization and urbanization in Middle East and Africa region along with rising
disposable incomes of consumers will bolster the regional outlook. In addition,
presence of a comparatively lenient regulatory framework in the region will
stimulate the demand for metalworking fluids.

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Lubrizol Corporation, Exxon Mobil Corporation, Henkel, Sinopec,
Royal Dutch Shell PLC, PPG Industries, Castrol Limited, Apar Industries Limited,
DowDuPont, and Total are some of the major industry participants in global MWF
market. These companies use merger & acquisition and collaboration
strategies from time to time to expand their business share across the value
chain.

For instance, Italmatch Chemicals had struck a deal in April
2018 to acquire Afton Chemicals Corporation’s MWF business. Moreover, market
players are continuously making R&D efforts and investments to come up with
new product formulations to address the growing product demand. These companies
are required to adhere to regulatory and government norms which will boost
product innovations over the coming years, driving future metalworking fluids
market trends.

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U.S., is a global market research and consulting service provider, offering
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Vijay Ovhal
Written by

Vijay Ovhal

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