Metalworking Fluids Global Market To Reach Value Of $13 Billion In 2025
31 Aug, 2021
The metalworking fluids market consists of sales of metalworking fluids by entities (organizations, sole traders, and partnerships) that provide metalworking fluids to improve the workpiece's performance by constantly eliminating dust, chips, and swarfs from the tool and the workpiece's surface. Metalworking fluid (MWF) refers to a group of oils and other fluids used to cool and lubricate metal workpieces while they are being machined, crushed, or milled. Metalworking fluids (MWFs) help to avoid burning and smoking by reducing heat and friction between the cutting tool and the workpiece.
Global Metalworking Fluids Market Size And Drivers:
The global metalworking fluids market is expected to grow from $9.95 billion in 2020 to $10.71 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The metalworking fluids market is expected to reach $13.06 billion in 2025 at a CAGR of 5.1%. The growing automotive sector is expected to fuel the growth of the metalworking fluids market in the forecast period.
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Trends In The Global Metalworking Fluids Market
The launch of new product lines is shaping the metalworking fluids market. Major companies operating in the metalworking fluids sector are focused on launching new product lines for metalworking fluids to improve product uniformity, cost, and marketability.
Global Metalworking Fluids Market Segments:
The global metalworking fluids market is further segmented based on type, application, end use industry and geography.
By Type: Mineral, Synthetic, Bio-Based
By Application: Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Others
By End-Use Industry: Construction, Electrical And Power, Automobile, Metal Fabrication, Transportation Equipment, Others
By Geography: The global metalworking fluids market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the metalworking fluids market in 2020.
Read More On The Report For The Global Metalworking Fluids Market At:https://www.thebusinessresearchcompany.com/report/metalworking-fluids--global-market-report
Metalworking Fluids Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metalworking fluids market overviews, analyzes and forecasts market size and growth for the global metalworking fluids market, metalworking fluids market share, metalworking fluids market players, metalworking fluids market segments and geographies, metalworking fluids market’s leading competitors’ revenues, profiles and market shares. The metalworking fluids market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.