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(Construction.IndustryNews247.Com, October 09, 2018 ) Growth of automobile and heavy machinery industries in emerging economies is one of the key factors driving the market growth. On the other hand, reduction in metal parts by automakers and OEM's is hindering the market.
Owing to its rising consumption in coolants, cutting oils and grinding fluids, removal fluids is expected to grow at a significant rate. Asia Pacific is the largest market driven by the robust manufacturing base in China and India. Strong government initiatives to support the manufacturing sector in China have led to an enhanced production, which is anticipated to have an optimistic impact on the industry.
Some of the key players in the market include Apar Industries, BP PLC, Chevron Corp., Exxonmobil Corp., Fuchs Petolub AG, Hindustan Petroleum Corporation Limited, Houghton International Inc., Idemitsu Kosan Co. Ltd, Kuwait Petroleum International, Lubrizol Corp., Lukoil Oil Co., Quaker Chemical Corporation, Royal Dutch Shell Plc, Sinopec Ltd and Total S.A.
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Metalworking Fluids Market is accounted for $8.52 billion in 2015 and is expected to reach $11.15 billion by 2022 growing at a CAGR of 3.9% during the forecast period.
Metalworking fluids (MWF) market will be primarily driven by growing demand from automobile industry, which is exponentially growing over past few years. Disruptive technology and consistent advancements in process improvement and component modifications have positively influenced traditional automobile sector across the globe. Another prime growth driver for MWF market will be general manufacturing industry, which has witnessed some excellent growth numbers in specifically Asia Pacific and Latin America over the last decade.
Digitalization of automobiles and growing prominence of electric vehicles pose a threat to MWF demand in the future. Moreover, the increasing usage of non-ferrous metal alloys, for example, titanium and aluminum in aerospace industry would hamper the product demand in the coming years as these metal alloys don’t need Metalworking Fluids during machining process. Petroleum-based MWF after usage are non-biodegradable and pose fatal health risks to workers operating in the surrounding for a long time. Health problems associated with MWF application are asthma, chronic bronchitis, allergies and skin diseases which are mainly due to inhalation exposure to liquid aerosols from the process fluids.
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Fundamentals of Table of Content:
1 Report Overview 1.1 Study Scope 1.2 Key Market Segments 1.3 Players Covered 1.4 Market Analysis by Type 1.5 Market by Application 1.6 Study Objectives 1.7 Years Considered
2 Global Growth Trends 2.1 Metalworking Fluids Market Size 2.2 Metalworking Fluids Growth Trends by Regions 2.3 Industry Trends
3 Market Share by Key Players 3.1 Metalworking Fluids Market Size by Manufacturers 3.2 Metalworking Fluids Key Players Head office and Area Served 3.3 Key Players Metalworking Fluids Product/Solution/Service 3.4 Date of Enter into Metalworking Fluids Market 3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product 4.1 Global Metalworking Fluids Sales by Product 4.2 Global Metalworking Fluids Revenue by Product 4.3 Metalworking Fluids Price by Product
5 Breakdown Data by End User 5.1 Overview 5.2 Global Metalworking Fluids Breakdown Data by End User
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