Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Metalworking fluid is a formulation that is used to enhance the efficiency of machining tools during various operations such as drilling and grinding. These fluids are highly stable at high and low temperature and also have excellent chemical resistance property. Metalworking fluids help in reducing the heat, offer lubricants, and eliminate the small metal chips produced during grinding and cutting of metal pieces.

The global metalworking fluids market is projected to reach around US$ 16,945.9 million by the end of 2027, in terms of revenue, growing at CAGR of 4.6% during the forecast period (2020-2027).

Drivers:

The growing automotive industry due to the increasing production of automobiles is primarily fueling the market growth of metalworking fluids. Metalworking fluids are widely used as coolants across metal treating, metal removal, forming, and metal protecting in metalworking application. Hence, growth in the production of the automobiles is expected to foster the market growth of the metalworking fluids.

Figure 1. Global Metalworking Fluids Market Share (%) in terms of Value, By Region, in 2019

Metalworking Fluids  | Coherent Market Insights

Asia Pacific region dominated the global metalworking fluids market in 2019, accounting for 41.2% share in terms of value, followed by North America and Europe, respectively.

Market Restraints

Environmental issues and health risks associated with the workers is expected to hinder the market growth of metalworking fluids. Metalworking fluids release various toxic waste disposal that creates environmental issues. Moreover, the chemical present in metalworking fluids lead to various health risks to workers. All these factors are expected to hamper the market growth of metalworking fluids.

request-sample

Metalworking Fluids Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 11,756.3 Million
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 4.6% 2027 Value Projection: US$ 16,945.9 Million
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Africa
Segments covered:
  • By Application: Removal Fluids, Forming Fluids, Protecting Fluids, and Treating Fluids
Companies covered:

Apar Industries Ltd., Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Houghton, Lukoil Lubricants, and The Lubrizol Corporation

Growth Drivers:
  • Increasing production of automobiles
  • Augmenting steel &metal fabrication industry
Restraints & Challenges:
  • Fluctuating price of crude oil due to the geopolitical scenario

Market Opportunities

Increasing usage of metalworking fluids in agricultural equipment is expected to serve lucrative opportunities to the market of the metalworking fluids. This is also attributed to the increasing adoption of the advanced agricultural equipment in the agriculture industry due to the growing need for high yield production. Thus growing demand for high performance of metalworking fluids in the agriculture industry is expected to propel the market growth.

The complexities associated with the manufacturing of various machinery components is expected to create potential opportunities to the market of metalworking fluids. Growth in the construction industry is driving demand for construction equipment and associated components are expected to propel the market growth. The increasing need for excellent surface finish in the work piece and improving efficiency of the tools is further anticipated to augment the market growth. 

Figure 2. Global Metalworking Fluids Market– Opportunity Analysis

Metalworking Fluids  | Coherent Market Insights

Market Trends

The growing aerospace industry in the North America region is expected to create a huge demand for metalworking fluids and this is attributed to growing travel &tourism trends. According to USAGov, the U.S. aerospace industry is the largest in the world. In 2018, the industry contributed $151 billion in export sales to the U.S. economy. The foreign direct investment (FDI) into the U.S. aerospace industry totaled nearly $22 billion in 2018.

The establishment of new facilities by manufacturers for increasing production capacities is a growing trend in the industry. This trend is projected to foster the market growth. For instance, in February 2019, Quaker Chemical Corporation held the grand opening of its state-of-the-art manufacturing facility in Dahej, India. The site will produce rolling oils and metalworking fluids for the steel and metalworking market in India, the Middle-East, and east Africa.

Figure 3. Global Metalworking Fluids Market Share (%) in terms of Value, By Application, in 2019

Metalworking Fluids  | Coherent Market Insights

On the basis of application in 2019, the removal fluids segment has accounted the largest market share of 49.4% in terms of value, followed by forming fluids and protecting fluids segment respectively.

Global Metalworking Fluids Market - Impact of Coronavirus (Covid-19) Pandemic

The coronavirus pandemic is having a disruptive impact on global economy. It has hit major industrial hubs of the world which has resulted in supply chain disruptions and production halts. Manufacturing and industrial production in many countries have seen sharpest declines. Small and medium-sized enterprises (SMEs) have been hit hard globally. This is expected to decrease demand for metalworking fluids during the pandemic. According to Coherent Market Insights, metalworking fluids market is expected to grow at a lower rate between 2020 and 2021.

Competitive Section:

Company Names 

  1. Apar Industries Ltd.
  2. Castrol Limited
  3. Chevron Phillips Chemical Company LP
  4. Chem Arrow Corporation
  5. Exxon Mobil Corporation
  6. FUCHS
  7. Houghton
  8. Lukoil Lubricants
  9. The Lubrizol Corporation

Metalworking fluids are chemical solutions used to improve the performance of the machining tools during manufacturing operations. They have excellent resistance to chemicals and provide lubricants to various metal parts. They are classified into forming fluids, removal fluids, protecting fluids, and treating fluids. Automotive, metal fabrication, machinery, and manufacturing industry are some of the major end-user of the metalworking fluids.

Market Dynamics

Partnership and collaboration among major manufacturers for regional as well as global presence is a major trend in the market. For instance, in August 2018, Yushiro Manufacturing America, Inc., a subsidiary of Yushiro Chemical Industry Co., Ltd. and QualiChem, Inc. announced that they have entered into a global strategic partnership. The announcement brings together two metalworking fluids manufacturers in the industry. Yushiro is a supplier of metalworking fluids in the Asia Pacific region, and QualiChem is a metalworking fluids business in North America.

Augmenting steel &metal fabrication industry is expected to augment the market growth of the metalworking fluids. According to the India Brand Equity Foundation, India was the world’s second-largest steel producer with production standing at 106.5 MT in 2018. Moreover, India’s steel production capacity has expanded to 137.975 million tons in 2019. Thus, growing production of the steel and metals is projected to bolster the market growth of the metalworking fluids.

Fluctuating price of crude oil due to the geopolitical scenario is expected to inhibit the market growth of the metalworking fluids.

Key features of the study:

  • This report provides in-depth analysis of the global metalworking fluids market and provides market size (US$ Million & Tons) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • This study also provides impact analysis of Coronavirus (Covid-19) pandemic on metalworking fluids market.
  • It profiles key players in the global metalworking fluids market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Apar Industries Ltd., Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Houghton, Lukoil Lubricants, and The Lubrizol Corporation
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global metalworking fluids market report caters to various stakeholders in this industry including investors, suppliers, metalworking fluids manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the metalworking fluids market

Detailed Segmentation:

  • Global Metalworking Fluids Market, By Application:
    • Removal Fluids
    • Forming Fluids
    • Protecting Fluids
    • Treating Fluids
  • Global Metalworking Fluids Market, By Region:
    • North America
      • U.S.
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Canada
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
    • Europe
      • U.K.
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Germany
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • France
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Italy
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Spain
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Russia
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Rest of Europe
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
    • Asia Pacific
      • China
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • India
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Japan
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • ASEAN
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Australia
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • South Korea
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Rest of Asia Pacific
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
    • Latin America
      • Brazil
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Mexico
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Rest of Latin America
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
    • Middle East & Africa
      • Middle East
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
      • Africa
        • By Application:
          • Removal Fluids
          • Forming Fluids
          • Protecting Fluids
          • Treating Fluids
  • Company Profiles
    • Apar Industries Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Castrol Limited
    • Chevron Phillips Chemical Company LP
    • Chem Arrow Corporation
    • Exxon Mobil Corporation
    • FUCHS
    • Houghton
    • Lukoil Lubricants
    • The Lubrizol Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Metalworking Fluids Market – Impact of Coronavirus (Covid-19) Pandemic
    • Impact of Coronavirus – Overview
    • Impact Analysis, By Region
      • North America
      • Latin America
      • Europe
      • Asia Pacific
      • Middle East
      • Africa
  5. Global Metalworking Fluids Market, By Application, 2017 - 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027
      • Y-o-Y Growth Analysis, 2020 – 2027 (%)
      • Segment Trends
    • Removal Fluids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Forming Fluids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Protecting Fluids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
    • Treating Fluids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Million & Tons)
  6. Global Metalworking Fluids Market, By Region, 2017- 2027 (US$ Million & Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Region, 2020 – 2027 (%)
    • North America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027 (%)
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2017 and 2027
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027 (%)
        • Middle East
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
        • Africa
          • Sub-region Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Tons)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Apar Industries Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Castrol Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chevron Phillips Chemical Company LP
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Chem Arrow Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Exxon Mobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • FUCHS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Houghton
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Lukoil Lubricants
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • The Lubrizol Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for metalworking fluids is estimated to surpass US$ 16,945.9 million by 2027, exhibiting a CAGR of 4.6% between 2020 and 2027.
The growing automotive industry due to the increasing production of automobiles is primarily fueling the market growth of metalworking fluids. Metalworking fluids are widely used as coolants across metal treating, metal removal, forming, and metal protecting in metalworking application. Hence, growth in the production of the automobiles is expected to foster the market growth of the metalworking fluids.
The metalworking fluids market is expected to exhibit a CAGR of 4.6% during the forecast period (2020-2027).
Major players operating in the global metalworking fluids market include Apar Industries Ltd., Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Houghton, Lukoil Lubricants, and The Lubrizol Corporation
Environmental issues and health risks associated with the workers is expected to hinder the market growth of metalworking fluids. Metalworking fluids release various toxic waste disposal that creates environmental issues. Moreover, the chemical present in metalworking fluids lead to various health risks to workers. All these factors are expected to hamper the market growth of metalworking fluids.
The growing aerospace industry in the North America region is expected to create a huge demand for metalworking fluids and this is attributed to growing travel & tourism trends. According to USAGov, the U.S. aerospace industry is the largest in the world. In 2018, the industry contributed $151 billion in export sales to the U.S. economy. The foreign direct investment (FDI) into the U.S. aerospace industry totaled nearly $22 billion in 2018.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner