The global metalworking fluid market size is forecasted to reach US$14.5 billion by 2025, with a CAGR of 4.4 percent, according to findings by Grand View Research.
Metalworking fluids are used to reduce heat, friction and to remove metal particles in industrial machining and grinding operations. There are many formulations from removal fluids to water-based fluid and may be a complex mixture of oils and other additives.
Increase application of metalworking fluids in heavy machinery and automotive industries due to increase in production capacity are driving the growth for metalworking fluids. The automotive industry end-use segment will likely see a CAGR of 5.3 percent revenue by 2025. Furthermore, Asia Pacific has the greatest consumption of metal working fluid owing to the large number of suppliers and distributors. With substantial growth in the manufacturing sector for emerging economies, for example, rising production of aluminium in China, the demand for metalworking fluids is set to rise.
Major players in the market include Houghton, BP, Quaker, FUCHS, Yushiro Chemical, ExxonMobil, Henkel, Chevron, Blaser, PETROFER, Master Chemical, Buhmwoo Chemical, JX MOE, Dow, Francool, Talent, Sinopec, Oemeta, Milacron, Amer, Peisun, Boer technology.
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