Global Metalworking Fluids Market to reach US$15 Billion by 2025
SELBYVILLE, Del., July 6, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " Metalworking Fluids Market revenue is predicted to be valued USD 15 billion by 2024." The metalworking fluids demand in machinery is likely to increase significantly over the forecast period on account of rapid growth in industrial and construction sectors in emerging economies. Increasing production in various sectors such as defense, automobiles, aerospace and marine is anticipated to be a major factor which will drive the metalworking fluid market in the coming years.
The global aerospace & defense industry will grow significantly during the forecast timespan as the industry is slated to increase at 4.1% CAGR by 2025. The recovery of global economies, stable commodity prices and increase in passenger travel demand are likely to fuel the growth in commercial aircraft sector in near future. In defense sector, increased global security threats and higher spending on defense by countries including China, Japan, India and Saudi Arabia will drive global defense sector growth over forecast timespan, which will subsequently boost metalworking market size.
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Increasing adoption of electric vehicles and digitalization of automobiles pose a major threat to product demand over the forecast timeframe. Moreover, increasing hazardous waste has polluted natural resources to a major extent. This may hamper the metalworking fluids market size during the forecast time period. Furthermore, petroleum-based metalworking fluids are non-biodegradable due to which they pose a health risk to the workers, which are working in the industry for a long duration. Stringent environmental regulations have hampered metalworking fluids demand in past few years.
Soluble oil had a major market share in metalworking fluids market in 2017 and will remain market leading product segment over the forecast timeframe followed by semi-synthetic fluids. Synthetic fluids acceptance in the aerospace industry is increasing which can be attributed to the product's high resistance to corrosion & rust and non-flammability at higher temperatures. Synthetic fluids are likely to grow at the highest CAGR during the forecast period.
In application segment, removal oil had the largest market share in 2017 and is anticipated to grow at the highest CAGR in the coming years. Forming fluid was the second largest application segment in metalworking fluids market and anticipated to grow with a prominent CAGR over the forecast timeframe due to increasing forming fluid usage in automobile and steel industry.
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Owing to the robust growth in manufacturing and automobile sector, Asia Pacific led the global metalworking fluid market in 2017. Asia Pacific will remain the market leader by 2025 followed by Europe. MEA shall have second highest CAGR after Asia Pacific due to rapid industrialization and increasing disposable income of consumers in this region. Moreover, environment regulations in MEA are lenient compared to other regions which will further boost the product demand in the near future.
Major multinational giants and some medium size companies are working in the metalworking fluids industry. Major players operating in the metalworking fluids industry includes Lubrizol Corporation, Total, DowDuPont, Exxon Mobil Corporation, Apar Industries Limited, Henkel, Castrol Limited, Sinopec, PPG Industries, and Royal Dutch Shell PLC. The industry witness's strategic mergers and acquisitions by major players to retain their business share across the value chain. For instance, in April 2018, Italmatch Chemicals signed an agreement to acquire Afton Chemicals Corp's metalworking fluids business. Afton Chemicals is a wholly owned subsidiary of NewMarket Corp. This transaction is expected to be closed by the end of May 2018. Italmatch Chemicals will acquire the entire business and assets related to MWF in Bedford Park, U.S.
Buy this industry insights spread across 281 pages with 296 market data tables & 50 figures & charts from the report, "Metalworking Fluids Market Size By Product (Neat Oil, Soluble Oil, Semi-Synthetic Fluid, Synthetic Fluid), By Application (Removal Fluids, Forming Fluids, Protecting Fluids, Treating Fluids) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, India, Japan, Australia, Malaysia, Indonesia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025" in detail along with the table of contents:
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Chapter 5. Metalworking Fluids Market, By Application
5.1. Global metalworking fluids market share by end-user, 2017 & 2025
5.2. Removal fluids
5.2.1. Market estimates and forecast, 2014 - 2025
5.2.2. Market estimates and forecast by region, 2014 - 2025
5.3. Forming fluids
5.3.1. Market estimates and forecast, 2014 - 2025
5.3.2. Market estimates and forecast by region, 2014 - 2025
5.4. Protecting fluids
5.4.1. Market estimates and forecast, 2014 - 2025
5.4.2. Market estimates and forecast by region, 2014 - 2025
5.5. Treating fluids
5.5.1. Market estimates and forecast, 2014 - 2025
5.5.2. Market estimates and forecast by region, 2014 - 2025
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/metalworking-fluids-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, [email protected]
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