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Global Metalworking Fluids Market Share, Analysis, Trends, Growth, Forecast: By Type: Mineral, Synthetic, Bio Based; By Function: Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Others; By End Use: Metal Fabrication, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Metalworking Fluids Market Outlook
The global metalworking fluids market size attained a value of more than USD 11.54 billion in 2023. The market is expected to grow at a CAGR of 4.10% between 2024 and 2032 to reach a value of USD 16.57 billion by 2032.
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Global Metalworking Fluids Market Trends
Metalworking fluids is a term given to various oils and fluids utilised for heat and friction reduction and removal of metal pieces during industrial machining and grinding operations. These fluids are utilised worldwide on daily basis in mechanical workshops and in the automobile industry to extend a vehicle component’s life by reducing wear and tear and thermal deformation.
Rising Demand for Industrial Applications
The rapid industrialisation and infrastructural developments in developing countries have surged the demand for metalworking fluids, especially in the Asia Pacific region. This surge in demand can propel the metalworking fluids market growth.
Proliferating Automotive Industry
The transportation sector is the largest end-user of metalworking fluids and with the rising demand for commercial and passenger vehicles, the market is expected to develop further.
Developing Manufacturing Sector around the World
The manufacturing sector is one of the primary users of metalworking fluids. The development of new manufacturing methods for sophisticated products, coupled with automated equipment, has enhanced the market size.
Global Metalworking Fluids Market Opportunities
Growing Demand for Lightweight Components
The demand for lightweight equipment and shifting preference from traditional alloys to stainless steel, aluminium, and titanium, is expected to provide new growth opportunities.
Launch of Multi-Functional Fluids and Eco-Friendly Products
The introduction of multi-functional fluids for high-performance machines and the development of eco-friendly products can provide new growth opportunities to the market.
Global Metalworking Fluids Market Challenges
Volatile Crude Oil Prices
Due to financial crises around the world and geopolitical conflicts, the price of crude oils can be prone to fluctuations, which can hamper the market growth.
Stringent Government Policies
With the rising environmental concerns, governments’ efforts to minimise environmental damage have started to implement strict regulations on the usage of metalworking fluids. This can be a major setback for the market.
Global Metalworking Fluids Market Analysis
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Based on type, the market can be segmented into mineral, synthetic, and biobased. Based on the function, it can be bifurcated into neat cutting oils, water cutting oils, and corrosion preventive oils, among others. Based on end-uses, the market segments include metal fabrication, transportation equipment, and machinery, among others.
The regional markets for the market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global metalworking fluids market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Quaker Chemical Corporation
- Blaser Swisslube AG
- TotalEnergies
- Eni S.p.A.
- Exxon Mobil Corporation
- Castrol Ltd.
- Lubrizol Corporation
- Chevron Corporation
- Others
Global Metalworking Fluids Market Segments by Function
Based on function, the market segments include neat cutting oils, water cutting oils, and corrosion preventive oils, among others.
Neat cutting oils are usually based on mineral oils which are used while cutting operations and are commonly used in heavy-duty operations as they provide high levels of lubrication. This segment holds the largest market share due to its application in various industrial operations.
Water-cutting oils are used by mixing concentrates of mineral oils or synthetic oils with water. It is widely used in processing as a coolant and lubricant. This segment is expected to experience significant growth due to its easy availability and excellent heat-carrying capability. However, it does not possess lubricating properties which can lead to corrosion.
Corrosion preventive oils are utilised on metals during the semi-finished or finished stage. They are applied to the metals to form a protective layer the metal, which provides rust protection.
Global Metalworking Fluids Market Segments by End-Use
Based on end-use, the market segments include metal fabrication, transportation equipment, and machinery, among others. The machinery segment has been the leading segment in the market as the demand for metalworking fluids has been rising exponentially in industries for application in different types of machines available in the market. Metalworking fluids are expected to show significant growth due to their adoption of these fluids by small-scale enterprises.
The transportation equipment segment is expected to show significant growth during the forecast period due to the rising demand for transportation equipment. The growth of this segment can also be attributed to increasing construction activities, especially in the Asia Pacific region.
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Competitive Landscape
Quaker Chemical Corporation is a chemical company and a leader in industrial process fluids, based in the United States and founded in 1918. The company provides their services to multiple industries such as aerospace, mining, steel, tube and pipe, metal finishing, among many other industries.
Blaser Swisslube AG is a chemical company, headquartered in Bern, Switzerland, and it was founded in 1936. The company is engaged in developing, producing, and selling an extensive list of metalworking fluids of high quality and performance for a variety of industries. They provide multiple services including monitoring and maintenance planning, water quality test, and machine preparation training, among many other services for optimal performance of the fluids.
TotalEnergies is a French multinational company for energy and petroleum, headquartered in France and founded in 1924. The company specialises in dealing with oil and gas exploration and production, refining, trading, shipping, crude oil, liquified natural gas, renewable energy, solar energy, wind energy, and geology, among many other fields.
Other market players include Eni S.p.A, Exxon Mobil Corporation, Castrol Ltd, Lubrizol Corporation, and Chevron Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Function |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Metalworking Fluids Market Analysis
8.1 Key Industry Highlights
8.2 Global Metalworking Fluids Historical Market (2018-2023)
8.3 Global Metalworking Fluids Market Forecast (2024-2032)
8.4 Global Metalworking Fluids Market by Type
8.4.1 Mineral
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Synthetic
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Bio Based
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Metalworking Fluids Market by Function
8.5.1 Neat Cutting Oils
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Water Cutting Oils
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Corrosion Preventive Oils
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Metalworking Fluids Market by End Use
8.6.1 Metal Fabrication
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Transportation Equipment
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Machinery
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Metalworking Fluids Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Quaker Chemical Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Blaser Swisslube AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 TotalEnergies
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Eni S.p.A.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Exxon Mobil Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Castrol Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Lubrizol Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Chevron Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Figures and Tables
1. Global Metalworking Fluids Market: Key Industry Highlights, 2018 and 2032
2. Global Metalworking Fluids Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Metalworking Fluids Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Metalworking Fluids Historical Market: Breakup by Function (USD Million), 2018-2023
5. Global Metalworking Fluids Market Forecast: Breakup by Function (USD Million), 2024-2032
6. Global Metalworking Fluids Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Global Metalworking Fluids Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Global Metalworking Fluids Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Metalworking Fluids Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Metalworking Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Metalworking Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Metalworking Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Metalworking Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Metalworking Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Metalworking Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Metalworking Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Metalworking Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Metalworking Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Metalworking Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Metalworking Fluids Market Structure
Key Questions Answered in the Report
In 2023, the global market for metalworking fluids reached a size of USD 11.54 billion.
The market is expected to grow at a CAGR of 4.10% during the period 2024-2032.
The market is expected to reach a value of USD 16.57 billion.
The market is driven by the increasing demand from a developing automotive industry and rising demand for heavy industrial operations.
The introduction of multi-functional fluids and utilisation of lightweight components are the key trends in the market.
The regional markets for the market include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The types in the market include mineral, synthetic, and biobased.
The functions available in the market include neat cutting oils, water cutting oils, and corrosion preventive oils, among others.
Metalworking fluids find end-uses in metal fabrication, transportation equipment, and machinery, among others.
The key players in the market include Quaker Chemical Corporation, Blaser Swisslube AG, TotalEnergies, Eni S.p.A., Exxon Mobil Corporation, Castrol Ltd., Lubrizol Corporation, and Chevron Corporation, among others.
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