Metalworking Fluids Market Size, Growth Rate & Regional Outlook 2032

According to Fortune Business Insights, The global metalworking fluids market was valued at USD 10.25 billion in 2019 and is expected to grow to USD 11.60 billion by 2027, registering a CAGR of 4.3% during the forecast period. In 2019, Asia Pacific held the leading position, accounting for 40.1% of the global share. Meanwhile, the U.S. market is anticipated to reach USD 2.82 million by 2027, driven by increasing demand across machining, automotive, and manufacturing applications.

Metalworking fluids play a vital role in day-to-day industrial operations, including milling, drilling, cutting, stamping, and grinding. Their formulations are continually evolving to align with regulatory requirements, industry standards, and environmental considerations, reflecting the growing influence of global regulatory bodies.

The increasing investments in the research and development of low cost and efficient products will have a huge impact on the growth of the market. According to a report published by Fortune Business Insights, titled “Metalworking Fluids Market Size, Share & Industry Analysis, By Function (Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils and Others), By Type (Mineral, Synthetic and Bio-based), By Application (Construction, Electrical & Power, Agriculture, Automotive & transportation, Telecommunication and Healthcare), and by End-use Industry (Metal Fabrication, Transportation Equipment, Machinery and Others) and Regional Forecast, 2020-2027.

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Metalworking fluids are used in heavy machinery and equipment to reduce the friction between two surfaces. The ability of these fluids to reduce the overall heat produced when in use, will contribute to the growing demand for the product across the world. The increasing investments in the research and development of efficient products will emerge in favor of the growth of the overall market in the coming years. The increasing adoption of heavy machinery and equipment, driven by the rising industrial production and manufacturing units across the world will aid the growth of the market. The presence of several large scale manufacturers in this sector will also contribute to the growth of the overall metalworking fluids market in the foreseeable future.

List of companies profiled in the report:

• Houghton International Inc.

• Castrol

• Chevron Phillips Chemical

• Exxon Mobil Corporation

• Total S.A.

• Lubrizol

• Quaker Chemical Corporation

• Henkel

• Fuchs Petrolub SE

• BP plc.

• Other

Shutdown in Manufacturing Units will have a Negative Impact on Manufacturers during the Covid-19 Pandemic

The rapid spread of the coronavirus in several countries across the world has had a negative impact on several manufacturing units across the world. Due to the strict measures implemented by governments across the world, manufacturing units have come to a standstill. Due to social distancing practices, there has been a shortage in man power and labor across the world. This has had an adverse effect on manufacturers in the metalworking fluids sector across the world. Accounting to the adverse effects of the pandemic on the market, companies might look to implement newer strategies once the pandemic is over, with the aim of recovering the economic losses.

Company Mergers and Acquisitions are an Increasing Trend Among Industrial Manufacturing Companies and Fluid Manufacturers

The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive demand for metalworking fluids across the world, there have been several company mergers and acquisitions in recent times. Due to healthy market competition, large scale companies are looking to acquire start-ups as well as SMEs with the aim of establishing a stronghold in the market. In August 2020, Quaker Chemical Corporation announced that it has completed the acquisition of Lubricor Inc. The latter is a manufacturer of lubricants and metalworking fluids that have been categorized for use in industrial machinery and equipment. This acquisition will not just help the company grow but will also influence the growth of the overall market in the coming years. The report highlights a few other company mergers of recent times and discusses their impact on the global market.

Asia Pacific to Emerge Dominant; Increasing Manufacturing Units to Emerge in Favor of Market Growth

The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years.  The increasing number of industrial manufacturing units in countries such as India and China will have a massive impact on the growth of the regional market. The presence of several large scale metalworking fluids manufacturers in these countries is consequential to the increasing demand for several resources. This is mainly attributable to the increasing population across the region. As of 2019, the market in Asia Pacific was worth USD 4.11 billion and this value is projected to rise at a considerable pace in the coming years.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/metalworking-fluids-market-101391

Industry Developments:

• October 2019: Master Fluid Solutions, a leading manufacturer in Perrysburg, Ohio, announced the acquisition of Wilhelm Dietz GmbH, a pipe and tube expansion, forming, wire drawing, and metalworking company based in Düsseldorf, Germany, to expand its global footprint and gain manufacturing capabilities in mainland Europe.

• December 2018: The European Commission approved the acquisition of Global Houghton, Ltd., a provider of specialty chemicals, oils and lubricants headquartered in the U.S by Quaker Chemical Corporation, a producer of process fluids and specialty lubricants. This acquisition was done to expand its production and marketing of products in the new regions.