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Metalworking Fluids Market Size

Report ID: GMI831
Published Date: Mar 2020
Report Format: PDF

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Metalworking Fluids Market Size

Global metalworking fluids market revenue in 2019 was USD 11.6 billion and will grow with a CAGR over 4.8% during the forecast period driven by the augmenting demand for designing applications and metal processing in general manufacturing and automobiles industries. Indispensable use of these fluids across automotive and metal fabrication industries will complement business growth by 2026.

Increasing product demand in the industries such as automation, metal fabrication, steel and original equipment manufacturers (OEM) is analysed to be a major factor propelling the global metalworking fluids market share by 2026. The product is majorly used for metal removal, protection, forming metal treating applications in these industries.

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Volatility in the crude oil prices owing to geopolitical scenario in the Middle East may hamper its demand at some extent over the forecast period. Furthermore, strict government dumping regulations of metalworking fluids shall act as a major downside to the market. However, many manufacturers are seen to innovate new dumping and treatment processes to comply with the ongoing regulations, which shall create new growth avenues in the future.

Metalworking Fluids Market Report Attributes
Report Attribute	Details
Base Year:	2019
Metalworking Fluids Market Size in 2019:	11,654.7 Million (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	4.8%
2026 Value Projection:	16,079.3 Million (USD)
Historical Data for:	2016 to 2019
No. of Pages:	394
Tables, Charts & Figures:	488
Segments covered:	Product type, Application, End-User and Region
Growth Drivers:	Robust growth in commercial vehicle sales Growing metal & steel fabrication business High crude steel production in Asia Pacific Growing aerospace industry in North America
Pitfalls & Challenges:	Associated environmental and worker health hazards

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Authors: Kiran Pulidindi

Frequently Asked Questions (FAQ) :

Metalworking fluids market will observe a CAGR of 4.8% over 2020-2026 with rising demand for designing applications and metal processing in general manufacturing and automobiles industries.

Synthetic fluids segment will witness a CAGR of 5.2% through 2026 on account of growing product demand owing to its superior and consistent performance.

Removal fluids segment had captured over 50% share in 2019 and will record a CAGR of 4.9% through 2026 due to increasing product adoption in industries for grinding and machining operations.

Automotive segment had captured over 35% share in 2019 on account of rising disposable income and improving living standards in countries like India, Indonesia, etc.

Asia Pacific market accounted for 45% share in 2019 owing to increasing automotive customer base in China and India along with robust industrialization in the region.