Metalworking Fluids Market is Forecasted to Reach US$ 13.88 Billion in 2028, Says Stratview Research

The global metalworking fluids market is projected to witness a growth rate of 3.77% annually from 2023 to 2028, with an anticipated size of US$ 13.88 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global metalworking fluids market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2028: US$ 13.88 billion
Growth (CAGR): 3.77% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Metalworking Fluids Market:

The global metalworking fluids market is segmented based on product type, application type, industry type, and region.

Based on product type - The market is segmented as neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids. Synthetic fluids are expected to experience the highest growth during the forecast period, owing to their superior and consistent performance. On the other hand, neat oils hold a market share of more than 40% in 2022 and are likely to witness promising growth possibilities over the assessment period, on account of their multiple benefits, including rust prevention, metal finishing, higher evaporation capability, and lubricity.

Based on application type - The market is segmented into removal fluids, forming fluids, protecting fluids, and treating fluids. Removal fluids are estimated to register the highest growth during the assessment period. The growth of the segment can be attributed to these fluids owing to a wide range of performance capabilities for grinding and machining processes in the industrial sector.

Based on industry type - The market is segmented as automotive, aerospace, construction, electrical & power, agriculture, marine, healthcare, and others. The construction segment holds a market share of more than 25% in 2022 and is likely to remain the dominant segment during the assessment period. Excavators, loaders, forklifts, cranes, dozers, and other types of machinery are just a few examples of equipment that the construction sector manufactures. In addition, the sector comprises a range of ferrous and non-ferrous components for interior and exterior applications, including those for garage doors, gates, sealing angles, shutters, balconies, window frames, stair railing grills, and parking spot blinds, among others. The segment is expected to grow throughout the assessment period as a result of urbanization and an increase in investments in building and construction activities.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2044/Metalworking-Fluids-Market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific dominated the market in 2022 and accounted for more than 40% share of the overall industry volume. This growth outlook is majorly attributed to the following-

• The region is estimated to maintain its indomitable lead during the forecast period as well.
• Increasing automotive customer bases in China and India, along with robust industrialization in the Asia-Pacific region is expected to significantly boost product demand in the coming years.

Metalworking Fluids Market Drivers:

Some of the key drivers listed in the report are given below.
• The growth of the heavy machinery industry.
• The demand for metalworking fluids is bolstered by the increasing use of lightweight materials in high-performance applications.
• The manufacturing of involute geometrics from lightweight metals necessitates proper lubrication, boosting metalworking fluid sales.
• The rising demand for vehicles is the primary driving force behind the increased demand for metalworking fluids.
• The automotive industry is a major consumer of metalworking fluids, as MWFs are used in the manufacturing of engines, transmissions, and other automotive parts. The growth of the automotive industry is expected to drive the demand for MWF in the coming years.

Top Companies in the Metalworking Fluids Market:

Stratview Research has identified the following companies as the top market players.
• Castrol
• Chem Arrow Corporation
• ExxonMobil
• FUCHS
• The Lubrizol Corporation
• Total S.A.
• Quacker

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Metalworking Fluids Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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• Engineered Fluids (Fluorinated Fluids) Market: https://www.stratviewresearch.com/962/engineered-fluids-market.html
• Electric Vehicle Fluids Market: https://www.stratviewresearch.com/3743/electric-vehicle-fluids-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.