Metalworking Fluid Additives Market
Metalworking Fluid Additives Market Forecasts to 2030 - Global Analysis By Additive Type (Antioxidants, Corrosion Inhibitors, Emulsifiers, Biocides, Surfactants, pH Control Agents, Dispersants and Other Additive Types), Formulation, Application, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $14.92 BN |
|
Projected Year Value (2030) |
US $21.83 BN |
|
CAGR (2024 - 2030) |
5.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Metalworking Fluid Additives Market is accounted for $14.92 billion in 2024 and is expected to reach $21.83 billion by 2030 growing at a CAGR of 5.5% during the forecast period. Metalworking fluid additives are chemical substances incorporated into metalworking fluids to enhance their performance and functionality. These additives serve various purposes, including improving lubrication, reducing friction, cooling, preventing rust and corrosion, and dispersing contaminants. They help extend the life of both the fluid and the machinery, improve cutting tool performance, and ensure better surface finishes on metal parts. Metalworking fluid additives are essential for optimizing the efficiency and effectiveness of machining operations.
According to National Centre for Biotechnological Information (NCBI) the 50-70% of the workers gets prone to diseases who work in direct contact with the metal working fluids.
Market Dynamics:
Driver:
Rapid industrialization and urbanization
As industries expand in emerging economies, especially in regions like Asia-Pacific and Latin America, there is a heightened demand for metalworking fluids in sectors such as automotive, aerospace, and machinery manufacturing. The need for advanced manufacturing techniques and high-quality components drives the requirement for specialized fluid additives that improve efficiency, precision, and surface quality. Urbanization leads to increased infrastructure development, which, in turn, stimulates industrial activity and boosts demand for metalworking fluid additives, fueling market growth globally.
Restraint:
Health and safety issues
Health and safety issues in metalworking fluid additives arise from the potential exposure to harmful chemicals, such as oils, solvents, and biocides, which can pose risks to workers, including skin irritation, respiratory problems, and long-term diseases like cancer. Improper handling and inadequate ventilation increase these risks. The additional costs and operational complexity resulting from these health and safety challenges can hamper market growth by limiting the adoption and increasing expenses for manufacturers.
Opportunity:
Increasing demand for efficient manufacturing processes
Industries aiming for higher productivity, precision, and cost-effectiveness rely on metalworking fluid additives to improve machining operations. These additives help reduce friction, heat, and wear, leading to smoother processes and enhanced surface finishes. Additionally, the growing emphasis on sustainable manufacturing practices drives the development of eco-friendly additives. With a focus on minimizing downtime, extending tool life, and improving operational efficiency, the demand for optimized metalworking fluids continues to rise, fueling the growth of the market.
Threat:
Volatility in raw material prices
Volatility in raw material prices arises from factors like supply chain disruptions, geopolitical instability, fluctuating demand, and changes in natural resource availability. These fluctuations impact the cost of essential ingredients in metalworking fluid additives, such as base oils, chemicals, and specialized compounds. As raw material prices increase unpredictably, manufacturers face higher production costs, which can lead to price hikes for consumers and reduced market stability and thus this uncertainty hampers the market.
Covid-19 Impact:
The covid-19 pandemic significantly impacted the metalworking fluid additives market due to disruptions in manufacturing, supply chain issues, and reduced industrial activity. With factories and production plants temporarily shut down, demand for metalworking fluids dropped. However, recovery post-pandemic led to an increase in demand for efficient and high-quality additives as industries resumed operations. The pandemic accelerated the adoption of advanced, eco-friendly additives in response to sustainability concerns.
The grinding fluids segment is expected to be the largest during the forecast period
The grinding fluids segment is expected to account for the largest market share during the forecast period. Grinding fluids are a crucial type of metalworking fluid additive used to improve the grinding process by reducing friction, dissipating heat, and enhancing lubrication. These fluids help prevent tool wear, improve surface finishes, and increase the efficiency of grinding operations. They also provide cooling to the workpiece, which prevents thermal damage and distortion.
The electronics manufacturing segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the electronics manufacturing segment is predicted to witness the highest growth rate owing to its ensured precision, reliability, and quality. These additives help in processes like CNC machining, drilling, and milling of parts such as semiconductors, connectors, and circuit boards. They provide lubrication, cooling, and corrosion protection, preventing damage to delicate parts. They improve the overall machining efficiency, which is crucial for maintaining the high standards required in the electronics industry.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share driven by rapid industrialization, increased manufacturing activities, and the expanding automotive and aerospace sectors. Countries like China, India, Japan, and South Korea are key contributors to market expansion due to their large-scale manufacturing bases. Moreover, the growing focus on technological innovations and automation in machining processes further boosts the market in the region.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR fuelled by strong manufacturing sectors in the U.S. and Canada, including automotive, aerospace, and heavy machinery industries. The region emphasizes technological advancements, with a focus on high-performance and environmentally friendly additives. Additionally, strict environmental regulations in North America push for the development of sustainable, biodegradable additives, creating growth opportunities for the market in this region.
Key players in the market
Some of the key players in Metalworking Fluid Additives market include ExxonMobil Corporation, TotalEnergies SE, Chevron Corporation, BASF SE, Dow Chemical Company, Croda International Plc, Evonik Industries AG, Lanxess AG, Wacker Chemie AG, Clariant AG, Royal Dutch Shell Plc, Petro-Canada Lubricants Inc., Castrol Limited, Chaoshui Technology Corporation, BP p.l.c., Idemitsu Kosan Corporation, Lubrizol Corporation and Quaker Houghton.
Key Developments:
In August 2023, Chaoshui Technology Co. inaugurated a metalworking fluid production facility in Foshan, Guangdong province, China. This plant has an annual capacity of 30,000 metric tons and aims to reduce China's reliance on imported metalworking fluids. The facility was developed with support from Tsinghua University in Beijing and the Jihua Laboratory in Foshan.
In September 2022, Clariant announced an expansion of its support for the manufacturers of fully synthetic metalworking fluids. This move is part of the company’s ongoing efforts to provide advanced, sustainable solutions to the metalworking industry, particularly as demand for high-performance, environmentally friendly products increases.
Additive Types Covered:
• Antioxidants
• Corrosion Inhibitors
• Emulsifiers
• Biocides
• Surfactants
• pH Control Agents
• Dispersants
• Other Additive Types
Formulations Covered:
• Water-Soluble Metalworking Fluids
• Oil-Based Metalworking Fluids
• Synthetic Fluids
• Semisynthetic Fluids
• Other Formulations
Applications Covered:
• Cutting Fluids
• Grinding Fluids
• Forming Fluids
• Drawing & Stamping Fluids
• Milling & Turning Fluids
• Other Applications
End Users Covered:
• Automotive
• Aerospace
• Construction & Mining
• Energy & Power
• Electronics Manufacturing
• Medical Devices
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Metalworking Fluid Additives Market, By Additive Type
5.1 Introduction
5.2 Antioxidants
5.3 Corrosion Inhibitors
5.4 Emulsifiers
5.5 Biocides
5.6 Surfactants
5.7 pH Control Agents
5.8 Dispersants
5.9 Other Additive Types
6 Global Metalworking Fluid Additives Market, By Formulation
6.1 Introduction
6.2 Water-Soluble Metalworking Fluids
6.3 Oil-Based Metalworking Fluids
6.4 Synthetic Fluids
6.5 Semisynthetic Fluids
6.6 Other Formulations
7 Global Metalworking Fluid Additives Market, By Application
7.1 Introduction
7.2 Cutting Fluids
7.3 Grinding Fluids
7.4 Forming Fluids
7.5 Drawing & Stamping Fluids
7.6 Milling & Turning Fluids
7.7 Other Applications
8 Global Metalworking Fluid Additives Market, By End User
8.1 Introduction
8.2 Automotive
8.3 Aerospace
8.4 Construction & Mining
8.5 Energy & Power
8.6 Electronics Manufacturing
8.7 Medical Devices
8.8 Other End Users
9 Global Metalworking Fluid Additives Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.9 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.9 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.9 Middle East & Africa
9.9.1 Saudi Arabia
9.9.2 UAE
9.9.3 Qatar
9.9.4 South Africa
9.9.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 ExxonMobil Corporation
11.2 TotalEnergies SE
11.3 Chevron Corporation
11.4 BASF SE
11.5 Dow Chemical Company
11.6 Croda International Plc
11.7 Evonik Industries AG
11.8 Lanxess AG
11.9 Wacker Chemie AG
11.10 Clariant AG
11.11 Royal Dutch Shell Plc
11.12 Petro-Canada Lubricants Inc.
11.13 Castrol Limited
11.14 Chaoshui Technology Corporation
11.15 BP p.l.c.
11.16 Idemitsu Kosan Corporation
11.17 Lubrizol Corporation
11.18 Quaker Houghton
List of Tables
1 Global Metalworking Fluid Additives Market Outlook, By Region (2022-2030) ($MN)
2 Global Metalworking Fluid Additives Market Outlook, By Additive Type (2022-2030) ($MN)
3 Global Metalworking Fluid Additives Market Outlook, By Antioxidants (2022-2030) ($MN)
4 Global Metalworking Fluid Additives Market Outlook, By Corrosion Inhibitors (2022-2030) ($MN)
5 Global Metalworking Fluid Additives Market Outlook, By Emulsifiers (2022-2030) ($MN)
6 Global Metalworking Fluid Additives Market Outlook, By Biocides (2022-2030) ($MN)
7 Global Metalworking Fluid Additives Market Outlook, By Surfactants (2022-2030) ($MN)
8 Global Metalworking Fluid Additives Market Outlook, By pH Control Agents (2022-2030) ($MN)
9 Global Metalworking Fluid Additives Market Outlook, By Dispersants (2022-2030) ($MN)
10 Global Metalworking Fluid Additives Market Outlook, By Other Additive Types (2022-2030) ($MN)
11 Global Metalworking Fluid Additives Market Outlook, By Formulation (2022-2030) ($MN)
12 Global Metalworking Fluid Additives Market Outlook, By Water-Soluble Metalworking Fluids (2022-2030) ($MN)
13 Global Metalworking Fluid Additives Market Outlook, By Oil-Based Metalworking Fluids (2022-2030) ($MN)
14 Global Metalworking Fluid Additives Market Outlook, By Synthetic Fluids (2022-2030) ($MN)
15 Global Metalworking Fluid Additives Market Outlook, By Semisynthetic Fluids (2022-2030) ($MN)
16 Global Metalworking Fluid Additives Market Outlook, By Other Formulations (2022-2030) ($MN)
17 Global Metalworking Fluid Additives Market Outlook, By Application (2022-2030) ($MN)
18 Global Metalworking Fluid Additives Market Outlook, By Cutting Fluids (2022-2030) ($MN)
19 Global Metalworking Fluid Additives Market Outlook, By Grinding Fluids (2022-2030) ($MN)
20 Global Metalworking Fluid Additives Market Outlook, By Forming Fluids (2022-2030) ($MN)
21 Global Metalworking Fluid Additives Market Outlook, By Drawing & Stamping Fluids (2022-2030) ($MN)
22 Global Metalworking Fluid Additives Market Outlook, By Milling & Turning Fluids (2022-2030) ($MN)
23 Global Metalworking Fluid Additives Market Outlook, By Other Applications (2022-2030) ($MN)
24 Global Metalworking Fluid Additives Market Outlook, By End User (2022-2030) ($MN)
25 Global Metalworking Fluid Additives Market Outlook, By Automotive (2022-2030) ($MN)
26 Global Metalworking Fluid Additives Market Outlook, By Aerospace (2022-2030) ($MN)
27 Global Metalworking Fluid Additives Market Outlook, By Construction & Mining (2022-2030) ($MN)
28 Global Metalworking Fluid Additives Market Outlook, By Energy & Power (2022-2030) ($MN)
29 Global Metalworking Fluid Additives Market Outlook, By Electronics Manufacturing (2022-2030) ($MN)
30 Global Metalworking Fluid Additives Market Outlook, By Medical Devices (2022-2030) ($MN)
31 Global Metalworking Fluid Additives Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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