Press release
Quenching Oil Market on Path to Hit $7.58 Billion by 2029 at 3.6% CAGR
Quenching Oil Market
Quenching Oil Market Outlook: What Size And CAGR Are Anticipated By 2025?
Over the previous years, the market size for quenching oil has experienced a consistent expansion. The market is forecasted to progress from a value of $6.41 billion in 2024 to $6.57 billion in 2025, with a compound annual growth rate (CAGR) of 2.6%. Factors contributing to growth during the historic period include the escalating consumption of synthetic formulations, a growing shift towards electric vehicles, an increase in hardened steel demand, an upturn in metal manufacturing, and expansion in the shipbuilding sector.
What Is the Expected CAGR for the Quenching Oil Market Growth Through 2029?
The market size for quenching oil is projected to maintain a steady growth rate in the coming years, reaching a worth of $7.58 billion by 2029 with a compound annual growth rate (CAGR) of 3.6%. Such growth in the anticipated timeframe is due to factors like the development of the aerospace industry, the rise in renewable energy infrastructure, the increasing popularity of synthetic formulations, the widespread use of AI in industrial cooling, and the broadening of defense manufacturing. Key trends predicted during the forecast period encompass improvements in heat treatment, the incorporation of IoT in heat treatment procedures, emphasis on energy-efficient methods, the transition towards bio-based quenching oils, and innovation in quenching technology.
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What Are the Primary Drivers Behind Quenching Oil Market Growth?
The growth of the quenching oil market is anticipated to be fuelled by the expanding metalworking industry. The metalworking industry entails shaping, cutting, welding and assembling metallic materials to manufacture products and components for various industries, including automotive, aerospace, construction and electronics. A surge in demand for advanced manufacturing techniques and high-quality metal products are the key factors behind the growth of the metalworking industry. Quenching oil plays a critical role in this industry by rapidly cooling and hardening metal components, thereby enhancing their strength and durability. For example, as per a February 2025 report by the Department for Business and Trade (DBT), a UK-based government department, offshore wind projects are predicted to require 25 million tonnes of plate steel by 2050. This represents a market opportunity for UK's steel producers amounting to £21($13.31) billion. Consequently, the quenching oil market's growth is being driven by this expanding metalworking industry.
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What Are the Key Segments Driving Quenching Oil Market Growth?
The quenching oil market covered in this report is segmented -
1) By Product: Ordinary Quenching Oil, Quick Quenching Oil, Speeding Quench Oil, Quick And Bright Quenching Oil, Other Products
2) By Type: Mineral Oil, Synthetic Oil, Semi-Synthetic Oil
3) By Viscosity: Low Viscosity, Medium Viscosity, High Viscosity
4) By Applications: Metal Industry, Automotive, Construction, Other Applications
Subsegments:
1) By Ordinary Quenching Oil: Mineral-Based Quenching Oil, Synthetic Ordinary Quenching Oil
2) By Quick Quenching Oil: High-Performance Quick Quenching Oil, Additive-Enhanced Quick Quenching Oil
3) By Speeding Quench Oil: Ultra-Fast Cooling Quench Oil, Accelerated Quenching Oil
4) By Quick And Bright Quenching Oil: Low-Residue Bright Quenching Oil, Oxidation-Resistant Bright Quenching Oil
5) By Other Products: Water-Soluble Quenching Oil, Bio-Based Quenching Oil, Polymer Quenchants
What Are the Technological Trends Impacting the Quenching Oil Market?
Prominent entities in the quenching oil market are concentrating their efforts on the creation of advanced heat treatment oil solutions to keep up with the changing needs of precise manufacturing procedures. Heat treatment oil solution is a unique type of oil employed in the heat treating of metals, especially during quenching to immediately cool heated metal parts. The oil manages the speed of the cooling, which is crucial for obtaining the anticipated hardness, strength, and total mechanic properties of the substance. For instance, in February 2023, the US-based heat treatment firm, Solar Atmospheres, Inc., gained approval for the oil quenching of alloy steels as per Boeing's specification BAC 5617. The Neo vacuum chamber utilizes work thermocouples for heating components. Post the heating process, these components are shifted to a vacuum-shielded vestibule within a span of 20 seconds. Lastly, a peak load of 2,000 pounds is dipped in a 3,000-gallon stirred oil quench tub.
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Who Are the Major Competitors in the Global Quenching Oil Market?
Major companies operating in the quenching oil market are Chevron Corporation, Phillips 66 Company, Indian Oil Corporation Ltd., ENI Oil Products, Idemitsu Kosan Co.Pvt.Ltd., ENEOS Industrial, Fuchs SE, Valvoline Global Operations, Castrol Limited, Gulf Oil-Houghton, D-A Lubricant Company, Gazpromneft - Lubricants Ltd., Nanjing Kerun Lubricants Co. Ltd., Gandhar Oil Refinery, Hardcastle Petrofer, Paras Lubricants Limited, BP Lubricants Private Limited, SMK PetroChemicals Pvt. Ltd., PetroLabs India Pvt. Ltd., LODHA Petro, Eastern Petroleum Pvt. Ltd, Arabian Petroleum Ltd., Dana Lubricants, Frank Alkanes Ind Pvt Limited, Ruhani industries
Which Region Dominates the Quenching Oil Market Share in 2025?
Asia-Pacific was the largest region in the quenching oil market in 2024. The regions covered in the quenching oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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