What Has Been the Growth of the Metalworking Fluids Market So Far?
The metalworking fluids market has seen considerable growth due to a variety of factors.
• The size of the metalworking fluids market has notably expanded in the past few years. The forecast predicts a growth from $12.91 billion in 2024 to $13.71 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.2%.
This substantial increase over the historic time frame is due to factors such as manufacturing development, enhancements in cutting and forming procedures, corrosion control, adherence to regulations, and progression in the automotive sector.
What Are the Future Growth Projections for the Metalworking Fluids Market?
The metalworking fluids market is expected to maintain its strong growth trajectory in upcoming years.
• The market for metalworking fluids is projected to witness robust expansion in the upcoming years, reaching a valuation of $18.34 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 7.5%.
The predicted growth within this forecast period can be ascribed to factors such as metal recycling, the use in aerospace, metal alloys and composites, circular economy practices, as well as resilience and safety. Key trends that will majorly contribute to market growth during this forecast period include the use of sustainable formulations, advanced materials, the adoption of smart manufacturing, the surge in electrification in transportation, and the use of biocompatible materials.
Which Factors Are Boosting Growth In The Metalworking Fluids Market?
The expansion of the automotive industry is anticipated to propel the metalworking fluids market's progression in the predicted timeframe. The automotive sector comprises a diverse array of enterprises and institutions engaged in the design, manufacturing, promotion, and sale of vehicles. Metalworking fluids, commonly used by car manufacturers to reduce heat and friction in industrial cutting and grinding processes, play a significant role in the production of automotive parts and other machinery. As per statistics released by the Society of Motor Manufacturers and Traders, a UK trade body, UK automobile output rose by 11.7% in the first half of 2023, totaling 450,168 units. The report highlights June's 16.2% increase, signaling a fifth straight month of growth. Since the start of the year, manufacturing plants have churned out an extra 47,037 units, primarily owing to a 13.6% boost in exports, equating to 359,940 units or 80% of the overall production. Production targeted for the UK market also witnessed a growth, with a 4.5% increase amounting to 90,228 units. Consequently, the escalating automotive industry augments the expansion of the metalworking fluids market.
What Key Areas Define The Segmentation Of The Global Metalworking Fluids Market?
The metalworking fluids market covered in this report is segmented –
1) By Type: Mineral, Synthetic, Bio-Based
2) By Application: Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Other Applications
3) By End-Use Industry: Construction, Electrical And Power, Automobile, Metal Fabrication, Transportation Equipment, Other End-Use Industries
Subsegments:
1) By Mineral: Straight Oils, Soluble Oils, Emulsifiable Oils
2) By Synthetic: Water-Soluble Synthetic Fluids, Non-Water-Soluble Synthetic Fluids
3) By Bio-Based: Vegetable Oil-Based Fluids, Animal Fat-Based Fluids, Synthetic Esters From Renewable Resources
Pre-Book The Metalworking Fluids Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Metalworking Fluids Market?
Prominent businesses in the metalworking fluids market are introducing advanced pressure additives such as SULFAD 1717E, to cater to metalworking processes. SULFAD 1717E is a sulfurized ester, which functions as an extreme pressure additive in metalworking applications. For instance, in July 2022, SEQENS, a company based in France that specializes in pharmaceutical solutions and unique ingredients launched a new Extreme Pressure Additive known as SULFAD 1717E. This additive falls under SEQENS's lineup that is designed for lubricants, greases, and oils. SULFAD 1717E caters to the need for compatibility with formulas comprising esters and delivers superior copper corrosion performance. It has commendable solubility in different base stocks and is ideal for various metalworking processes, including deep hole drilling, grinding, and honing oils. This additive aligns with SEQENS's dedication to providing solutions for metalworking requirements.
Who Are the Key Players in the Metalworking Fluids Market?
Major companies operating in the metalworking fluids market include:
• ExxonMobil Corporation
• TotalEnergies SE
• Houghton International Inc.
• Henkel AG & Co. KGaA
• Fuchs Petrolub SE
• Quaker Chemical Corporation
• Hindustan Petroleum Corporation Limited
• Castrol Ltd.
• Lubri-Graph Corporation
• Croda International plc
• Shell plc
• Lukoil Oil Company
• China Petroleum & Chemical Corporation
• Apar Industries Limited
• Yushiro Chemical Industry Co. Ltd.
• Idemitsu Kosan Co. Ltd.
• Cimcool Industrial Products Inc.
• Blaser Swisslube Co. AG
• Motul India Private Limited
• Oelheld Inc.
• Moresco Corporation
• QualiChem Ltd.
• Master Chemical Corp.
• Hardcastle Petrofer Private Limited
• Chevron Phillips Chemical Company
• Total Lubricants USA Inc.
• Petro-Canada Lubricants Inc.
• Royal Purple LLC
• Valvoline Inc.
• Warren Oil Company Inc.
What Is The Most Dominant Region In The Metalworking Fluids Market?
Asia-Pacific was the largest region in the metalworking fluids market in 2024. North America was the second-largest market in the metalworking fluids market share. The regions covered in the metalworking fluids market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
