According to IMARC GROUP, the global metalworking fluids market is reached a value of US$ 11 Billion in 2018. Looking forward, IMARC Group expects the market to reach a value of around US$ 13 Billion by 2024, registering a CAGR of around 3% during 2019-2024.

Metalworking fluids (MWFs) refer to a range of oils and lubricating liquids that are used to cool down a metal workpiece during industrial machining and grinding operations. They provide lubrication and aid in reducing heat and excessive friction between the cutting tools and the workpiece. These fluids find extensive application in the transportation and construction industries for removing metal particles, maintaining workpiece quality, reducing tool wear and enhancing productivity.

Metalworking fluids are utilized in the automotive industry for removing metal chips, providing excellent surface finish and extending the service life of tools. Furthermore, owing to increasing environmental concerns, several manufacturers are shifting toward the production of lightweight and fuel-efficient vehicles, which, in turn, is catalyzing the demand for metalworking fluids around the world. Extensive utilization of these fluids in agricultural machinery acts as another major growth-inducing factor. Other factors such as rapid industrialization across the globe, especially in the emerging economies of the Asia Pacific and African regions, the emerging trend of electric vehicles (EVs), along with increasing consumer expenditure toward automobiles, and rising number of construction activities, are anticipated to drive the market in the coming years.

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Report Coverage:

• Historical, Current and Future Market Trends
• Market Breakup by Product Type:
  • Removal Fluids 
  • Forming Fluids
  • Protection Fluids
  • Treating Fluids
• Market Breakup by Source:
  • Mineral
  • Synthetic
  • Bio-Based
• Market Breakup by End Use:
  • Transportation Equipment
  • Machinery
  • Primary Metals
  • Fabricated Metal Products
  • Metal Cans 
  • Others
• Market Breakup by Fluid Type:
  • Neat Cutting Oils
  • Water Cutting Oils
    • Soluble Cutting Oils
    • Semi-synthetic Cutting Oils
    • Synthetic Cutting Oils
  • Corrosion Preventive Oils
  • Others
• Market Breakup by Industry:
  • Construction
  • Electrical and Power
  • Agriculture
  • Automobile
  • Aerospace
  • Others
• Market Breakup by Region:
  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

View Report TOC, Figures and Tables: https://www.imarcgroup.com/metalworking-fluids-market

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being BP, Chevron, Houghton International, ExxonMobil, Total S.A., Apar, Hindustan Petroleum Corporation Limited, Castrol Limited, Indian Oil Corporation Limited, Lubrizol, Gazprom, Pertamina, Columbia Petro, PETRONAS Lubricants International, Quaker Chemical Corporation, etc.

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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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