Global Metalworking Fluids Market is estimated to be valued at US$ 1080.00 Million in 2021, according to the Global Metalworking Fluids Market Report, by Application (Removal Fluids, Forming Fluids, Protecting Fluids, and Treating Fluids), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.  

Global metalworking fluids market was valued at US$ 1080.00 Million in 2021. Metalworking fluids market is expected to exhibit a CAGR of 4.4% over the forecast period (2022–2030), to reach US$ 1593.95 Million by 2030. Metalworking fluids are used to reduce heat and friction and to remove metal particles in industrial machining and grinding operations. There are numerous formulations of metalworking fluids ranging from straight oils (such as petroleum oils) to water-based fluids, which include soluble oils and semisynthetic/synthetic fluids. Metalworking fluids may be complex mixtures of oils, emulsifiers, anti-weld agents, corrosion inhibitors, extreme pressure additives, buffers (alkaline reserve), biocides, and other additives. 

Manufacturing sector is expected to be most affected by coronavirus crisis. The crisis is expected to disrupt both demand as well as supply chains and capability of companies to deliver goods to market. The virus has struck the core global value chain regions including China, Europe and U.S. According to World Economic Forum, industrial output in China has fallen by 13.5% in first two months of 2020 compared with the previous year. The slowdown in manufacturing is expected to impact demand of metalworking fluids from this sector.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/metalworking-fluids-market-4007

Browse 50 market data tables* and 40 figures* on "Global Metalworking Fluids Market” - Forecast to 2030.

Key Trends and Analysis of the Global Metalworking Fluids Market:

Increasing investment by major players to cater to growing demand around the globe is a major trend in the market and this trend is expected to augment the market growth. For instance, in January 2017, Evonik Industries has invested through its venture capital arm in Nanotech Industrial Solutions, Inc. (NIS) holds a minority share in the company. NIS produces oil additives for engine oils, oil, and water formulations for metalworking fluids, industrial oils, and additive formulations for greases.

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.

Key Takeaways of the Global Metalworking Fluids Market:

  • On the basis of application, in 2021, the removal fluids segment accounted for the largest market share of 49.4% in terms of value, followed by forming fluids and protecting fluids segment respectively
  • Asia Pacific led the market in 2019 and accounted for 45% of the overall industry volume. Increasing automotive customer base in China and India along with robust industrialization in the region is expected to boost metalworking fluids demand in the coming years. For instance, in August 2018, Volkswagen Group opened its new FAW-Volkswagen plant in China with production capacity of 1,200 vehicle units per day.
  • In December 2018, Quaker Chemical Corporation, acquired Global Houghton, Ltd., a manufacturer of specialized chemicals, oils and lubricants. This acquisition was done with the motive to increase the production and marketing of company’s products in new markets.

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