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Metalworking Fluids Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | ExxonMobil Corporation, TotalEnergies SE, Houghton International Inc., Henkel AG & Co. KGaA, Fuchs Petrolub SE
Metalworking Fluids Market Size
The Business Research Company offers in-depth market insights through Metalworking Fluids Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The metalworking fluids market size has grown strongly in recent years. It will grow from $12.21 billion in 2023 to $13 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to manufacturing growth, cutting and forming operations, corrosion prevention, regulatory compliance, automotive industry.
The metalworking fluids market size is expected to see strong growth in the next few years. It will grow to $16.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to metal recycling, aerospace applications, metal alloys and composites, circular economy practices, resilience and safety. Major trends in the forecast period include sustainable formulations, advanced materials, smart manufacturing, electrification in transportation, biocompatible materials.
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Market Segmentation:
The main types of metalworking fluids are mineral, synthetic, and bio-based. Mineral oils are refining methods that assist in minimizing the amount of polynuclear aromatic hydrocarbons in metalworking fluids (PAHs). It is used in neat cutting oils, water cutting oils, corrosion preventive oils, and others and is implemented in various verticals such as construction, electrical and power, automobile, metal fabrication, transportation equipment, and others.
Major Driver - Automotive Sector Fueling Growth In The Metalworking Fluids Market
The growing automotive sector is expected to fuel the growth of the metalworking fluids market in the forecast period. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metalworking fluids, which minimize heat and friction in industrial cutting and grinding operations, are frequently utilized by automobile manufacturers in the manufacturing of car parts and other equipment. For instance, Hyundai Motor Company, a South Korea-based automotive manufacturer announced a 23.8% year-over-year rise in domestic deliveries to 52,005 units in January 2021. Moreover, according to the India Brand Equity Foundation (IBEF), in 2020, roughly 3.49 million units of commercial and passenger vehicle categories were sold in India. Therefore, the growing automotive sector drives the growth of the metalworking fluids market.
Competitive Landscape:
Major companies operating in the metalworking fluids market include ExxonMobil Corporation, TotalEnergies SE, Houghton International Inc., Henkel AG & Co. KGaA, Fuchs Petrolub SE, Quaker Chemical Corporation, Hindustan Petroleum Corporation Limited, Castrol Ltd., Lubri-Graph Corporation, Croda International plc, Shell plc, Lukoil Oil Company, China Petroleum & Chemical Corporation, Apar Industries Limited, Yushiro Chemical Industry Co. Ltd., Idemitsu Kosan Co. Ltd., Cimcool Industrial Products Inc., Blaser Swisslube Co. AG, Motul India Private Limited, Oelheld Inc., Moresco Corporation, QualiChem Ltd., Master Chemical Corp., Hardcastle Petrofer Private Limited, Chevron Phillips Chemical Company, Total Lubricants USA Inc., Petro-Canada Lubricants Inc., Royal Purple LLC, Valvoline Inc., Warren Oil Company Inc.
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Top Trend - Extreme Pressure Additive For Metalworking Applications
Major companies operating in the metalworking fluids market are launching extreme pressure additives such as the SULFAD 1717E for metalworking applications. SULFAD 1717E is a sulfurized ester that is an extreme pressure additive for metalworking applications. For instance, in July 2022, SEQENS, a France-based pharmaceutical solutions and specialty ingredients company, introduced a new Extreme Pressure Additive, SULFAD 1717E. This additive is part of SEQENS' range designed for oils, greases, and industrial lubricants. SULFAD 1717E addresses the need for compatibility with formulas containing esters and provides optimum copper corrosion performance. It has good solubility in various base stocks and is ideal for metalworking applications, including deep hole drilling, grinding, and honing oils. This additive complements SEQENS' commitment to providing solutions for metalworking needs.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Metalworking Fluids Market Characteristics
3. Metalworking Fluids Market Trends And Strategies
4. Metalworking Fluids Market - Macro Economic Scenario
5. Metalworking Fluids Market Size And Growth
…..
27. Metalworking Fluids Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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