What are Metalworking Fluids?
Metalworking fluids (MWF) are a range of oils and liquids that are used to cool and/or lubricate metal workpieces during machining, grounding, milling, and other industrial processes. These fluids are applied to minimize tool wear by reducing heat and friction between the cutting tool and workpiece and improve process productivity.
Metalworking fluid formulations are dependent on the application and a minor alteration in the chemical composition can change product performance in the specific application process. Moreover, the chemical composition changes over the service life of MWFs. This creates the need to develop high-performance specialized MWFs to fit different industrial application requirements. As a result, Metalworking fluids market is an extremely competitive and fragmented market where aggressive pricing is the most common strategy adopted strategy among competing market players. The market is rapidly expanding and offering sharp growth opportunities pushed by the rising demand in the Asia Pacific region.
Who are the end-users of Metalworking Fluids?
Metalworking fluids are typically used as lubricants and coolants in Metalworking processes. They find major uses in steel, metal and automotive industries where these fluids are used as coolants, lubricators and cutting oils. Perfect matching of MWF to machine or process ensures increased shop floor efficiency, optimized tool life, and reduced cost.
Metalworking Fluids Market Growth Drivers, Restraints and Trends
The market is growing owing to rising demand from the manufacturing sector in the Asia Pacific. Under tighter budget manufacturers are looking to maximize service life and profitability of every machine and here the role of MWFs has transformed into a key one. Increasing investment by dominant market players into further development of leading products and increasing partnerships and collaborations between bigger and local suppliers is driving the growth of the market.
However, changing environmental regulations have restricted the number of legally permissible chemicals to be used in industrial components and this puts the suppliers under a resource wise strained condition. Health hazards for workers in MWF manufacturing plants and the problem of chemical waste disposal also negatively impact the market growth.
Metalworking Fluids Market Segmentation
Metalworking fluids are divided into four product types based on the type of oil used in the formulation. These segments are Straight oils, Soluble oils, Semi-synthetic fluids, and Synthetic fluids. Straight oils or mineral based oils are traditionally the most popular due to their low cost and dominate the market. However, Synthetic oils are expected to exhibit a fast growth rate as the demand has soared in recent years owing to their superior finish, extended tool life, and low environmental risk.
On the basis of applications, the market is segmented into Removal fluids, Forming fluids, Protecting fluids and Treating fluids. Removal fluids are the dominant market segment while Forming fluids are also driving substantial demand in the market.
The global market is segmented into regional markets of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of total market and revenue share, North America is the dominating region with the presence of leading manufacturing companies and a giant steel, metal and transport sector. But it is actually the Asia Pacific region that is driving the global market growth with its thriving automotive industry and growing needs from a rising population.
There is a growing demand for synthetic oil-based Metalworking fluids among consumers, especially in the developed countries. These oils are comparatively high price products and pose fewer threats to the environment, thus driving product developments in this direction will be beneficial for the industry in the face of growingly stringent environmental regulations. Also, surging demand from emerging economies like China, India, and Thailand offer good opportunities to the suppliers.
Major Metalworking Fluids Companies
Major players in the market are Exxon Mobil Corporation, Houghton International, Fuchs Petrolub SE, Lukoil Lubricants Company, Chevron Phillips Chemical Company, Castrol Ltd, The Lubrizol Corporation and Chem-Arrow Corporation.
The Metalworking Fluids Market report contains a comprehensive analysis on:
- Metalworking Fluids Market Segments
- Metalworking Fluids Market Drivers, Restraints and Opportunities
- Metalworking Fluids Market Size and Forecast 2016 to 2022
- Supply and Demand Value Chain
- Metalworking Fluids Market Current Trends
- Competition and Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Global Metalworking Fluids Market includes
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Metalworking Fluids Market Report Highlights:
- Detailed Historical Overview (Market Origins, Product Launch Timelines etc.)
- Consumer and Pricing Analysis
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of Volume and Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage