Metalworking Fluids Market in APAC will show exponential growth Via automobile sector | Key Players Castrol, Chevron Phillips Chemical Company, ExxonMobil, LUKOIL, The Lubrizol Corporation, Total, The Dow Chemical Company, Henkel, Shell, SINOPEC, PT.Perta

Asia Pacific accounted for a major chunk of global metalworking fluids market in 2017 and shall continue to remain in same position by 2025. Increasing product manufacturers focus in setting up production facilities in Asian countries including China and India on account of low initial investment and minimum labor charges, has resulted in reduced product prices. Also, subsidies for specific industries, tax breaks and export-oriented growth policies in countries including China, Japan, Indonesia, Bangladesh, India, etc., has grabbed attention of multi-national across the globe. Additionally, the regional market is comparatively irregulated, which shall be eventually fueling metalworking fluids demand across the region in the coming years.

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The metalworking fluids demand in machinery is likely to increase significantly over the forecast period on account of rapid growth in industrial and construction sectors in emerging economies. Increasing production in various sectors such as defense, automobiles, aerospace and marine is anticipated to be a major factor which will drive the MWF market in the coming years. The global aerospace & defense industry will grow significantly during the forecast timespan as the industry is slated to increase at 4.1% CAGR by 2025. The recovery of global economies, stable commodity prices and increase in passenger travel demand are likely to fuel the growth in commercial aircraft sector in near future. In defense sector, increased global security threats and higher spending on defense by countries including China, Japan, India and Saudi Arabia will drive global defense sector growth over forecast timespan, which will subsequently boost metalworking Market.

Increasing adoption of electric vehicles and digitalization of automobiles pose a major threat to product demand over the forecast timeframe. Moreover, increasing hazardous waste has polluted natural resources to a major extent. This may hamper the metalworking fluids Market during the forecast time period. Furthermore, petroleum-based metalworking fluids are non-biodegradable due to which they pose a health risk to the workers, which are working in the industry for a long duration. Stringent environmental regulations have hampered metalworking fluids demand in past few years.

Soluble oil had a major market share in metalworking fluids market in 2017 and will remain market leading product segment over the forecast timeframe followed by semi-synthetic fluids. Synthetic fluids acceptance in the aerospace industry is increasing which can be attributed to the product's high resistance to corrosion & rust and non-flammability at higher temperatures. Synthetic fluids are likely to grow at the highest CAGR during the forecast period.

In application segment, removal oil had the largest market share in 2017 and is anticipated to grow at the highest CAGR in the coming years. Forming fluid was the second largest application segment in MWF market and anticipated to grow with a prominent CAGR over the forecast timeframe due to increasing forming fluid usage in automobile and steel industry.

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The metalworking fluids market is diverse and includes giant multi-national players to medium scale companies as well. The MWF industry has some chief global players including Total, Lubrizol Corporation, The Dow Chemical Company, Apar Industries Limited, ExxonMobil, Castrol Limited, Henkel, PPG Industries, Royal Dutch Shell PLC and Sinopec. Acquisitions and joint ventures are major strategies adopted by players operating in this industry. For instance, in 2014, FUCHS acquired Batoyle Freedom Group, Lubritene and Lubrasa. These acquisitions helped the company to meet the increasing global demand by increasing its production capacity.

Metalworking Fluids Market by application
o Removal fluids
o Forming fluids
o Protecting fluids
o Treating fluids

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