Metalworking Fluids Market Growth & Forecast Report up to 2022: Radiant Insights, Inc

The global metalworking fluids market is expected to reach USD 11.99 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for metalworking fluids in automotives and heavy machinery owing to its properties of increasing efficiency is expected to drive market growth. Competitive pricing owing to large number of small suppliers in the market is expected to be a key feature of the industry over the next seven years.

 

Synthetic fluids are expected to witness significant growth on account of their increasing use on account of their superior capabilities such as increasing tool life and providing excellent surface finish. However, customers in Asia Pacific region are still consuming mineral oil based fluids on account of their price sensitive nature.

 

For more information kindly visit: http://www.radiantinsights.com/research/metalworking-fluids-market

 

Asia Pacific has been leading the demand owing to presence of a large-scale consumer base, particularly from India and China. Price sensitivity among OEMs in Asia Pacific is a major factor influencing demand for metalworking fluids in the region.

 

Further key findings from the report suggest:

 

Mineral based oil accounted for 52.1% of global volume share in 2014. Mineral oil is the conventional metalworking fluids produced in large volumes owing to their easy availability and cost effectiveness.

 

Europe bio-based metalworking fluids market was valued at USD 277.5 million in 2014. Europe is expected to witness a strong demand for the bio-based product owing to the prevalence of strong government regulations. However, the expensive nature of these products is expected to hamper their growth over the forecast period.

 

Asia Pacific was the largest market and is expected to witness gains at a CAGR of 4.4% from 2015 to 2022. Increasing production volumes in various sectors including automobile, defense, marine and aerospace is expected to be a major factor driving market in the region.

 

Corrosion preventive oils demand was 514.4 kilo tons in 2014. Corrosion preventive oils are used in machining operations where possibility of damaging the tool is very high.  These oils are responsible for improving the sump life which eventually leads to reduction in the overhead costs for the manufacturers. This has resulted in increasing demand from small scale manufacturers on account of their tight cost structures and low volumes.

 

Key industry players including Chevron Corporation, Quaker Chemical Corporation, British Petroleum, ExxonMobil Corp, Royal Dutch Shell, and Houghton have wide range of supplier and distribution network. Cimcool, Blaser Swisslube, Total S.A., Fuchs, Eni S.p.A., Croda International, and Ashland, Inc are investing heavily in research and development for the product. In February 2016, the Ashland, Inc acquired Oil Can Henry, a step that would help in expanding its business presence in the Pacific Northwest quick-lube sector.

 

About Us

Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.

 

For more information visit: Radiant Insights

 

Contact:                                                  

Michelle Thoras

Corporate Sales Specialist, USA

Radiant Insights, Inc

Phone: 1-415-349-0054

Toll Free: 1-888-202-9519

Email: sales@radiantinsights.com

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