Metalworking Fluids Market Propelled by Demand from Booming APAC Automotive Industry

The Asia Pacific automotive industry has really come into its own in the last decade, after being comprehensively overshadowed by North America and Europe for decades. Adding to the strong performance of the Japan automotive industry, China, India, and South Korea have also made significant inroads in the global automotive market in the last decade and have now emerged as major players in the global market. The flourishing automotive industry in this region has given rise to a rising demand for, among other materials, metalworking fluids.

Fabricated metal parts are a requisite in the automotive industry. This requires metalworking fluids in liberal amounts. Metalworking fluids help enhance the lubrication in metalworking processes and also perform the crucial task of cooling down metalworking assemblies. This factor is expected to be crucial for the metalworking fluids market’s development in the coming years. Research into developing innovative new metalworking fluids is also expected to be a major factor in the metalworking fluids industry in the coming years.

Safety, Environmental Viability of Metalworking Fluids under the Scanner

While metalworking fluids are an irreplaceable component of metalworking processes, they have two major drawbacks. First of all, modern metalworking fluids can lead to several health conditions among those regularly exposed to them. This has led to a rising demand for metalworking fluids that don’t affect the human body.

Secondly, the environmental impact of dumping used metalworking fluids is not something that can be ignored. The synthetic nature of metalworking fluids means that they can cause severe problems in the ecology of the area in which they are dumped. This has led to environmental viability becoming a major factor in the ongoing research into new metalworking fluids.

Global Metalworking Fluids Market to be Valued at US$14.8 bn by 2024

According to Transparency Market Research, the global metalworking fluids market was worth US$9.9 bn in 2015 and is expected to rise to US$14.8 bn by 2024, exhibiting a 4.6% CAGR in the 2016-2024 forecast period.

Research Report: http://www.transparencymarketresearch.com/metalworking-fluids-market.html

New Semi-synthetic Metalworking Fluids to Deliver High Performance for Automotive, Grinding, and General Machining Applications

Metalworking fluids or cutting fluids are popularly used as lubricants and coolants in metalworking procedures such as fabrications and machining. Neat oil, semisynthetic fluids, soluble oil, and synthetic fluids are some of the types of metalworking fluids available in the global market. Different processes and raw materials such as animal fat, air, water, plant oil, and petroleum distillates are used to manufacture metalworking fluids. Over the past few years, there has been an increase in the demand for metalworking fluids. Moreover, the demand for removal fluids is expected to be the highest in the years to come. With many companies introducing new metalworking fluids, the global metalworking fluids market is expected to expand at a rapid pace in the next few years.
 

Recently in Pennsylvania, Houghton International launched a new semi-synthetic metalworking fluid, useful for grinding, general machining, and automotive applications. The new HOCUT 4440 is meant to deliver high performance in the water-miscible metal-removal fluids criteria.  Also, Lubrizol introduced a similar metalworking fluid, VEG-ESTER GY-300 to its product line. VEG-ESTER GY-300 is derived from a renewable resource and is a potential petroleum oil replacement in the emulsifiable metalworking fluids. The global metalworking fluids market features many leading manufacturers of metalworking fluids. Once such key player, Total Lubricants, recently added a few products, Total Valona MS/ST and Total Valona GR, to their portfolio.
 

Research: http://www.transparencymarketresearch.com/metalworking-fluids-market.html
 

In 2015, Removal Fluids Application Segment Accounted for 50% of Global Metalworking Fluids Market
 

The global metalworking fluids market stood at US$9.91 bn in 2015 and is expected to reach US$14.79 bn by 2024, progressing at a 4.60% CAGR from 2016 to 2024. The global metalworking fluids market is segmented on the basis of application and region. By application, the global metalworking fluids market is classified into removal fluids, treating fluids, protecting fluids, and forming fluids. In 2015, the removal fluids application segment accounted for a dominant share of 50% in the global metalworking fluids market.

Based on region, the global metalworking fluids market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, Asia Pacific dominated the global metalworking fluids market and is expected to maintain its dominance in the years to come. The growth in economy of nations such as India and China is expected to propel the Asia Pacific metalworking fluids market.
 

Growing End-user Industries to Drive Global Metalworking Fluids Market
 

Stamping, drawing, and rolling oil fluids are some of the types of foaming fluids used in many end-user industries. The global demand for metalworking fluids is expected to increase in the years to come due to the growth in various end-user industries such as steel and metal and automation.
 

However, health risks to workers and environmental issues are predicted to hamper the growth of the global metalworking fluids market in the next few years. The introduction of bio-based metalworking fluids by leading players is expected to provide many growth opportunities in the global metalworking fluids market in the next few years. Some of the leading players in the global metalworking fluids market are Castrol Limited, Chem Arrow Corporation, FUCHS, LUKOIL Lubricants Company, Total, Chevron Phillips Chemical Company, ExxonMobil Corporation, Houghton, and The Lubrizol Corporation.