Metalworking Fluids Market Research Report 2019, Industry Trends, Share, Size, Demand and Future Scope

According to IMARC GROUP, the global metalworking fluids market is reached a value of US$ 11 Billion in 2018. Looking forward, IMARC Group expects the market to reach a value of around US$ 13 Billion by 2024, registering a CAGR of around 3% during 2019-2024.

Metalworking fluids (MWFs) refer to a range of oils and lubricating liquids that are used to cool down a metal workpiece during industrial machining and grinding operations. They provide lubrication and aid in reducing heat and excessive friction between the cutting tools and the workpiece. These fluids find extensive application in the transportation and construction industries for removing metal particles, maintaining workpiece quality, reducing tool wear and enhancing productivity.

Metalworking fluids are utilized in the automotive industry for removing metal chips, providing excellent surface finish and extending the service life of tools. Furthermore, owing to increasing environmental concerns, several manufacturers are shifting toward the production of lightweight and fuel-efficient vehicles, which, in turn, is catalyzing the demand for metalworking fluids around the world. Extensive utilization of these fluids in agricultural machinery acts as another major growth-inducing factor. Other factors such as rapid industrialization across the globe, especially in the emerging economies of the Asia Pacific and African regions, the emerging trend of electric vehicles (EVs), along with increasing consumer expenditure toward automobiles, and rising number of construction activities, are anticipated to drive the market in the coming years.

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Report Coverage:

Historical, Current and Future Market Trends
Market Breakup by Product Type:
Removal Fluids
Forming Fluids
Protection Fluids
Treating Fluids

Market Breakup by Source:
Mineral
Synthetic
Bio-Based

Market Breakup by End Use:
Transportation Equipment
Machinery
Primary Metals
Fabricated Metal Products
Metal Cans
Others

Market Breakup by Fluid Type:
Neat Cutting Oils
Water Cutting Oils
Soluble Cutting Oils
Semi-synthetic Cutting Oils
Synthetic Cutting Oils
Corrosion Preventive Oils
Others

Market Breakup by Industry:
Construction
Electrical and Power
Agriculture
Automobile
Aerospace
Others

Market Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America

View Report TOC, Figures and Tables: https://www.imarcgroup.com/metalworking-fluids-market

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being BP, Chevron, Houghton International, ExxonMobil, Total S.A., Apar, Hindustan Petroleum Corporation Limited, Castrol Limited, Indian Oil Corporation Limited, Lubrizol, Gazprom, Pertamina, Columbia Petro, PETRONAS Lubricants International, Quaker Chemical Corporation, etc.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.