Posted on Leave a comment

Metalworking fluids market to experience significant growth

Category   Metalworking   Cutting Fluids min

A recent report from leading market researcher Technavio has assessed that the global market for metalworking fluids (MWFs) is anticipated to grow by over two billion US dollars over the next four years.

In the forecast period, the market is estimated to have a compound annual growth rate (CAGR) of 3.2 per cent. Growth is being driven by increased industrialisation in emerging economies and showing a trend towards the use of bio-based lubricants.

Key sectors identified as drivers of the trend include aviation, automotive, agriculture and construction.

In aviation, these built-for-purpose fluids are critical for the manufacturing of both assemblies and aircraft components.

In the automotive industry, MWFs are employed extensively in processes like forging, forming and machining. Vehicles and heavy machinery used on construction projects need MWFs for effective production, and the agricultural industry’s focus on infrastructure construction and high-yield equipment is also contributing to market’s growth. Furthermore, the demand for dependable MWFs is high within the manufacturing sector for the production of consumer goods.

Health issues and environmental concerns are influencing market development, with a move towards biodegradable and eco-friendlier fluids. At a lubricant engineering level, the chemical composition of modern MWFs is being specially formulated with adjustments to prevent corrosion and reduce heat.

The Technavio report indicates that the environmental impact of metalworking fluids, including undiluted cutting oils used for lubricating heavy-duty machinery, is likely to remain a key focus for major market players like Fuchs SE, the Exxon Mobil Corp., and Chevron Corp, among others.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.