Metalworking Fluids Market Trends with Value Chain and Stakeholder Analysis By 2016 - 2024

Metalworking fluids, also known as cutting fluids, are used as coolants and lubricants in metalworking processes such as machining and fabrications. Based on these application, metalworking fluids are segmented into various types such as removal fluids, forming fluids, protecting fluids and treating fluids. Metalworking fluids are manufactured from different processes using raw materials such as petroleum distillates, animal fat, plant oil, air, and water. These fluids are categorized into different product types such as neat oil, soluble oil, semisynthetic fluids, and synthetic fluids. Selection of metalworking fluids for usage in the metal working process depends on the job material and type of operation required.

Removal fluids was one of the major application segments for metalworking fluids in 2015. It accounted for approximately 50% share of the global metalworking fluids market in the year. Removal fluids are used to maintain temperature. They also help remove excess metal in the metalworking process. Expansion in automotive and metal fabrication industries across the globe has boosted the demand for removal fluids. Removal fluids are used significantly for material removal applications in the metalworking process in the metal fabrication industry. Forming fluids was the second largest application segment, followed by protecting fluids and treating fluids, in 2015. Forming fluids include fluids such as rolling oil, and stamping and drawing fluids, which are generally used in various end-use industries such as steel & metal.

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Growth in steel and metal industries is anticipated to boost the demand for forming fluids in the near future. Waste disposal of metalworking fluids is a major issue in countries in Europe. This has led to stringent environmental regulations. Technological development in the metalworking fluids technology is anticipated to overcome market restraints such as environmental issues and health risks for the operators. Thus, due to these developments the metalworking fluids market is projected to expand significantly in the near future. Metalworking fluids are primarily used in industries such as original equipment manufacturers (OEMs), automation, aerospace, and steel & metal.

Demand for metalworking fluids was the largest in Asia Pacific in 2015. It is anticipated to rise steadily during the forecast period. In 2015, Asia Pacific accounted for major share of the metalworking fluids market, followed by North America and Europe. Countries such as China and India coupled with those in the ASEAN region are likely to drive the demand for metalworking fluids in Asia Pacific. Thus, the region is expected to continue its dominance in the global market. Growth in end-user industries such as steel and automotive in developing economies of Asia Pacific is projected to boost the demand for metalworking fluids in the near future. Recovery in automotive, steel, and metal fabrication industries in North America is anticipated to drive the demand for metalworking fluids in the region in the next few years. Asia Pacific is estimated to be the fastest growing market, with expansion in end-use industries such as original equipment manufacturers (OEMs), automotive, and steel & metal.

The global market for metalworking fluids is fragmented, with the top 10 players accounting for more than 50% of the global market share and the rest of the market is supplied by small manufacturers of metalworking fluids. China is one of the major consumers and suppliers of metalworking fluids. Various manufacturers have been focusing on research and development activities. These companies have developed products that meet the environmental and safety norms. Major manufacturers have well-developed supply chain for direct selling. They have also signed third-party distribution agreements and developed export channels in order to expand their footprint across various regions.

Major players operating in the metalworking fluids market include Castrol Limited, Chevron Phillips Chemical Company, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Houghton, LUKOIL Lubricants Company, The Lubrizol Corporation, and Total.

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