Metalworking Fluids Market
REPORT
Metalworking Fluids Market - Global Industry Analysis, Size, Share,
Growth, Trends, Forecast 2016 – 2024
The global metalworking fluids market is highly fragmented and moderately competitive in nature.
Transparency market Research (TMR) has observed that key players are engaged in mergers and
acquisitions and exclusive agreements to increase their outreach across different sectors and
enhance their market shares. Some of the leading companies in the global metalworking market are
FUCHS, Houghton, Exxon Mobil Corporation, Castrol Ltd., Total, and The Lubrizol Corporation.
The threat of new entrants is likely to remain moderate to high during the forecast period. “Easy
availability of raw materials and rapid technological developments in metalworking fluids have
rendered the market highly opportunistic for new players,” says TMR’s lead analyst. The global
metalworking fluids market had a valuation of US$10.33 bn in 2016 and is projected to rise to
US$14.79 bn by the end of 2024, progressing at a CAGR of 4.6% between 2016 and 2024.
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Asia Pacific Remains at Forefront through 2024 Owing to Robust Growth of End-user
Industries
On the basis of application, removal fluids will continue to the most prominent segment until 2024,
accounting for 51.4% of the overall market volume. The segment will also expand at a CAGR higher
than any other segment during the review period. The demand for metalworking fluids in metal
removal is likely to increase due to the robust growth of the original equipment manufacturing (OEM)
and automotive industries.
Asia Pacific will continue to account for the lion’s share in the global arena until 2024. The region is
anticipated to exhibit a CAGR of 3.7% in terms of volume during the same period. While developed
regions will witness a slowdown in the growth, developing regions will be prominent destinations for
global participants, owing to the flourishing growth of end-user industries.
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Flourishing Growth of Automotive Sector Triggers Adoption
The global steel and metal fabrication industry has witnessed consistent growth over the last few
years. “Metalworking fluids are used as coolants in applications such as metal treating, metal forming,
metal removal, and metal protecting and therefore, the expansion of the steel and metal fabrication
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