What’s Driving the Metalworking Fluids Market Growth? | Key Players Castrol, Chevron Phillips Chemical Company, ExxonMobil, LUKOIL, The Lubrizol Corporation, Total, The Dow Chemical Company, Henkel, Shell, SINOPEC, PT.Pertamina (Persero), PPG Industries

In the recent years, the global metalworking fluids market has gained considerable prominence in terms of the profitability matrix, given the rapid expansion of industrial sectors including the likes of automotive, aviation, energy, and infrastructure. In the year 2017, this business space registered a significant USD 10 billion remuneration majorly pertaining to the fact that these fluids are being used extensively in the automotive & transportation industry. In fact, it would not be overstated to say that owing to their ability to perform the crucial task of cooling down metals in machining processes such as drilling, turning, forging, and milling, metalworking fluids have been acclaimed as the essentials in the manufacturing sector.

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Global drivers

1. Robust growth in automotive industry

2. Growing metal & steel fabrication business

The unprecedented growth that the automotive industry is currently witnessing, with global vehicle sales exceeding 96 million units in 2017, has further added momentum to metalworking fluids market. These statistics goes on to validate the perpetual influence of the automotive & aviation sectors on the demand curve of the metalworking fluids market – indeed, these domains have chronicled themselves among the list of the most lucrative growth avenues for this business sphere.

Over the past decade, the metalworking fluid technology has advanced significantly, to such an extent that using the right kind of MWF for specific machining process can intensely surge machining efficiency, surface finish and metal life. Synthetic fluids in this regard are making rapid progress in metalworking fluids industry and it appears that they are all poised to cement their place among the list of top-selling products. Authentic research reports in fact claim the synthetic fluids to be the fastest growing segment of the overall metalworking fluids industry, thanks to the robust demand from the aerospace sector.

The flourishing aerospace & automotive industry in the Asia Pacific region has given rise to escalating demand for metalworking fluids in the region. China has emerged as one of the strongest investment grounds, being the world’s second largest economy, biggest exporter of goods, and the largest manufacturing hub. The country is also touted to be the fastest growing consumer market and the first but one importer of goods. These factors, in tandem with increased focus on sustainability and product quality have profoundly influenced the manufacturing, metal fabrication, and transportation segments in China, which in turn have set the ground lucrative for metalworking fluids market.

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Major multinational giants and some medium size companies are working in the metalworking fluids market. Major players operating in the metalworking fluids industry includes Lubrizol Corporation, Total, DowDuPont, Exxon Mobil Corporation, Apar Industries Limited, Henkel, Castrol Limited, Sinopec, PPG Industries, and Royal Dutch Shell PLC.

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

Browse key industry insights spread across 281 pages with 296 market data tables & 50 figures & charts from the report, “Metalworking Fluids Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/metalworking-fluids-market

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