Chemicals

Global Metalworking Fluids Market Size and Forecast 2024-2033|ExxonMobil Corporation, TotalEnergies SE, Houghton International Inc., Henkel AG & Co. KGaA, Fuchs Petrolub SE

The Metalworking Fluids Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Metalworking Fluids Global Market Report 2024, The metalworking fluids market size has grown strongly in recent years. It will grow from $12.21 billion in 2023 to $13 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to manufacturing growth, cutting and forming operations, corrosion prevention, regulatory compliance, automotive industry.

The metalworking fluids market size is expected to see strong growth in the next few years. It will grow to $16.86 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to metal recycling, aerospace applications, metal alloys and composites, circular economy practices, resilience and safety. Major trends in the forecast period include sustainable formulations, advanced materials, smart manufacturing, electrification in transportation, biocompatible materials.

The growing automotive sector is expected to fuel the growth of the metalworking fluids market in the forecast period. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metalworking fluids, which minimize heat and friction in industrial cutting and grinding operations, are frequently utilized by automobile manufacturers in the manufacturing of car parts and other equipment. For instance, Hyundai Motor Company, a South Korea-based automotive manufacturer announced a 23.8% year-over-year rise in domestic deliveries to 52,005 units in January 2021. Moreover, according to the India Brand Equity Foundation (IBEF), in 2020, roughly 3.49 million units of commercial and passenger vehicle categories were sold in India. Therefore, the growing automotive sector drives the growth of the metalworking fluids market.

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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

Major companies operating in the metalworking fluids market are launching extreme pressure additives such as the SULFAD 1717E for metalworking applications. SULFAD 1717E is a sulfurized ester that is an extreme pressure additive for metalworking applications. For instance, in July 2022, SEQENS, a France-based pharmaceutical solutions and specialty ingredients company, introduced a new Extreme Pressure Additive, SULFAD 1717E. This additive is part of SEQENS’ range designed for oils, greases, and industrial lubricants. SULFAD 1717E addresses the need for compatibility with formulas containing esters and provides optimum copper corrosion performance. It has good solubility in various base stocks and is ideal for metalworking applications, including deep hole drilling, grinding, and honing oils. This additive complements SEQENS’ commitment to providing solutions for metalworking needs.

The metalworking fluids market report table of contents includes:

1. Executive Summary

2. Metalworking Fluids Market Characteristics

3. Metalworking Fluids Market Trends And Strategies

4. Metalworking Fluids Market – Macro Economic Scenario

5. Global Metalworking Fluids Market Size and Growth

26. South America Metalworking Fluids Market

27. Brazil Metalworking Fluids Market

28. Middle East Metalworking Fluids Market

29. Africa Metalworking Fluids Market

30. Metalworking Fluids Market Competitive Landscape And Company Profiles

Top Major Players: