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Metalworking Fluids Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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COVID-19
Pandemic disrupted the entire world and affected many industries.
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Request Now !Metalworking Fluids Market Analysis 2020-2027:
Metalworking fluids (MWF) is the name given to a range of oils and other liquids that are used to lubricate metal workpieces when they are being machined, ground, and milled. These fluids reduce frictions generated between cutting tool and work piece thereby improving work piece quality and help in prevention of burning and smoking, as well as increasing tool life and improving its performance.
Primary raw materials for making MWFs are crude oil and base oil. These raw materials are heated, extracted, and refined to produce various fluids, including motor oils, lubricants, and petrol.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Type, Application, Industry Vertical, and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM) and The Middle East and Africa |
Companies covered | Major players analyzed include Exxon Mobil Corporation, FUCHS, Clariant AG, Lukoil Lubricants, Lubrizol Corporation, TOTAL Sa, Quaker Chemical Corporation, The Dow Chemical Company, Master Chemical Corporation, Milacron, Henkel Corporation and Infineum International Limited |
COVID-19 Impact
- The global market for metalworking fluids is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of metalworking fluids, which negatively impact the market growth.
Top impacting factors: Market Scenario Analysis, Trends and Drivers
Growing requirements for lowering the operational costs and increasing the efficiency & life of machinery will drive toward growing the metalworking fluids market demand over the projected time period.
The demand in U.S. is anticipated to be led by the rise in usage of neat cutting oil that is majorly used for aluminum products. U.S.A is considerably going through a shift in its manufacturing industry from steel machinery to aluminum products and this is because of aluminum unique properties, such as easy molding and lightweight properties. Therefore, the increase in use of aluminum is predicted to create profitable opportunities for the consumption of neat cutting oil and thus simultaneously boosting metalworking fluids market.
Growing product demand in the automation, metal fabrication, steel and original equipment manufacturers (OEM) industries is anticipated to be a major factor driving the global metalworking fluids market. Since, MWF is primarily used for protection, metal removal, forming metal treating applications in these industries.
In addition, the global market share of metalworking fluids is expected to be driven by metal processing in general manufacturing and automotive industries as well as increasing demand for application design. However, limited growth in the construction and automotive sectors is likely to restrict the MWF industry over the forecast period. Plus, strict government dumping regulations of metalworking fluids may also hinder the market. But many manufactures are now coming up with new ways to dump these fluids and thus creating great opportunities in the upcoming future.
Furthermore, instability in the crude oil prices due to geopolitical scenario in the Middle East may restrict the demand at some extent in the future.
Key segments covered:
Segments | Subsegments |
Type |
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Application |
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Industry Vertical |
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Key benefits of the report:
- This study presents the analytical depiction of the global metalworking fluids market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global metalworking fluids market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global metalworking fluids market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global metalworking fluids market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Metalworking Fluids Marketresearch report:
- Who are the leading market players active in the metalworking fluids market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the metalworking fluids market?
- What are the projections for the future that would help in taking further strategic steps?
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