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Growth of Automation Industry Boosts Metalworking Fluids Market

Article Description

Metalworking fluids are coolants and lubricants used in metalworking processes such as machining and fabrication. Metalworking fluids reduce the heat and friction between the cutting tool and the workpiece, thus preventing smoking and burning. Moreover, applying metalworking fluids also helps in improving the quality of the workpiece by removing chips and swarf from the tool being used and the surface of the workpiece.

Also known as cutting fluids, metalworking fluids are manufactured with the help of various processes using raw materials such as animal fats, plant oil, petroleum distillates, and water. These fluids are categorized into meat oil, soluble oil, semisynthetic fluids, and synthetic fluids. The selection of metalworking fluids for usage in the metalworking process is dependent on the type of operation and job material.

Growth of Steel and Metal Industries Boosts Metalworking Fluids Market

The global metalworking fluids market is expected to expand owing to the growth of the steel and metal industries. The growth in the automation industry is also expected to drive the market.  On the other hand, the risk involved with waste disposal of metalworking fluids is expected to restrict the market. Additionally, the health risks of metalworking fluids for operators are also expected to challenge the market. However, the rise in research and development activities in the metalworking fluids industry is expected to overcome the health risks and environmental disposal issues and stabilize the market in the coming years.

Browse Full Global Metalworking Fluids Market Report with TOC :

On the basis of geography, the global metalworking fluids market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. In 2014, Asia Pacific accounted for a major share in the global market owing to the growth of the economies of countries such as India and China. The growth of the automotive and metal fabrication industries in these countries is expected to benefit the metalworking fluids market. The innovation of biobased metalworking fluids is also expected to open new doors of opportunity for metalworking fluids market.

Removal Fluids Segment Held 50% Share in Metalworking Fluids Market in 2015

On the basis of application, the global metalworking fluids market is segmented into removal fluids, protecting fluids, treating fluids, and forming fluids. Of these, the removal fluids segment dominated the global metalworking fluids market in 2015, accounting for 50% of the global market. Removal fluids are used to maintain the temperature of the machinery. Removal fluids find extensive usage in the material removal applications in the metalworking process.  

The forming fluids segment was the second largest segment of the metalworking fluids market, followed by the protecting fluids and treating fluids segments. Forming fluids such as rolling oil and drawing fluids are used in the steel and metal industries, which is expected to boost the demand for forming fluids.

The key players operating in the global metalworking fluids market include: Castrol Limited, Chevron Phillips Chemical Company, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Houghton, LUKOIL Lubricants Company, The Lubrizol Corporation, and Total.