An Incisive, In-depth Analysis on the Metal Working Fluids Market
This study offers a comprehensive, 360 degree analysis on the Metal Working Fluids market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Metal Working Fluids market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Metalworking Fluids Market Outlook & Key Findings
- The metalworking fluids market is expected to grow at a CAGR of 3.9% during the forecast period (2020-2030)
- By region, North America is set to remain at the forefront with the US accounting for one-third of the market share in 2019
- By mid-term, transportation equipment using metalworking fluids will gain 170 BPS
- Removal fluids are slated to account for the largest market share through 2030 and will hold a market attractiveness index of 8 on a scale of 10
Metalworking Fluids Market Analysis - Pushing Machining Capabilities
Metalworking fluids are being increasingly used in the manufacture of metallic products ranging from small coins to complex machinery in aerospace. Running machining processes with these fluids has proven to be more cost-effective than without them.
The end result is metals with less wear and tear, less downtime and better finish. The fluids help to achieve a constant working temperature by reducing friction.
Costs incurred with the use of metalworking fluids range between 1%- 3% of the total manufacturing costs. However, using them correctly improves not only metalworking operation through lubrication but also allows operators extend tool life, incur savings and reduce machine downtime.
Minimum Quantity Lubrication and Dry Machining to Usurp Metalworking Fluids in Foreseeable Future
A significant shift is being observed towards the trend of Minimum Quantity Lubrication (MQL) and dry machining within the metalworking fluids market landscape.
This has been fuelled by concerns rising from the impact of metalworking fluids on the environment. Successful dry machining at very high temperatures is giving traction to this trend. Ceramic and diamond tooling has paved way for dry machining with negligible use of metalworking fluids.
The use of dry machining is relatively hassle free with little coolant mist or residue to dispose of. Mostly vacuums are being used to remove fines and chips.
On the other hand, the use of MQL can still incur significant costs on equipment maintenance. Fluid makers are seeing the advantages of MQL and predict that in future fluids will be used at a mere 5%-10% only.
The Shift is Visible towards Boron-Free and Chlorine-Free Metalworking Fluids
Metalworking fluids are moving away from Boron as it tends to add to residue. Its prolonged presence also adds to the wear and tear of spindles, cutting tools and conveyors which can have an adversarial effect on spindles and machine parts. At very high levels, boron has proven to be dangerous not only for the environment but also for worker health.
While boron has exemplary anti-corrosive properties, even at low levels, the concentration levels increase with increased residue in sumps. Chlorine too is deemed unnecessary as it is not good for lung and skin health. Chlorine, along with other amines are being eliminated from coolant formulas completely.
Metalworking Fluids Market Regional Analysis - Regulatory Hurdles no Longer an Impediment to Regional Growth
Semi-synthetic, synthetic and water-based fluids will witness high uptake in regions such as Asia-Pacific (China, India, Indonesia, Thailand and Japan) which are expected to be growth engines for the metalworking fluid market in the foreseeable future.
Asia Pacific holds the largest market size for metalworking fluids owing to the region having a stronghold in terms of manufacturing for fluids. The present pandemic has brought out volatility in the price of crude oil. Low prices and a supply glut has proven advantageous for manufacturers of metalworking fluids.
After the sub-prime crisis of 2008-2009 and the recovery of the automobile sector in North America, there has been a strong growth of the metalworking fluids market in US. Thus the region has seen a robust value and volume growth in the historical past. China and North America are slated to hold ~50% of the market share in terms of volume through 2030.
Collectively, both Western and Eastern Europe are estimated to account for 26% of the overall market share. This can be attributed to the prolific growth of the market in Germany where nearly 200,000 metalworking companies are using metalworking fluids.
Metalworking Fluids Market Manufacturers - ‘Unwavering and Resilient’
The metalworking fluids market is highly competitive with leading players accounting for 47%-56% of the total market share. The competition is further expected to intensify with industry leaders collaborating with OEMs.
Some of the key players in the market are ExxonMobil Corporation, Fuchs Petrolub SE, Quaker Chemical Corporation, and Yushiro Chemical Industry.
ExxonMobil, headquartered in the US, offers a range of metalworking fluids under the brand name Mobil. The company has a strong presence globally and has local production hubs that maximize supply at affordable costs.
The company witnessed a 130% increase in synthetic lubricants sales in the last one decade after it expanded into relatively untapped regions such as Mexico and Indonesia. The company also acquired PT Federal Karyatama, an Indonesian company which has also enabled the company to expand its hegemony in Asia Pacific.
Angus a global specialty Chemicals Company specializing in metalworking fluids has an exhaustive product portfolio which consists of CORRGUARD, a category of water-based fluids that help to improve machine performance and extend fluid life. The company’s latest addition is the CORRGUARD FLEX which meets all regulatory standards and has superb corrosion control, formulation compatibility and ease of use.
Metalworking Fluids Market Trends – Recyclability to Expand Profit Pools
Coolant technology has advanced significantly from what it was 15 to 16 years ago. When used for machining, they last longer but are more exorbitant. With costs nearing $50 a gallon, and disposal costs going up to $6 per gallon.
Metalworking units are accountable for proper fluid/coolant disposal even if they outsource this to another service provider. Improper disposal can cost a company several thousand dollars in fines.
With recyclability the scenario changes considerably. Metalworking companies can save up to 60% of the fluid concentrate by getting rid of tramp oils. The tramp oil is nothing but the sump oil that gets mixed with the metalworking fluid. It tends to seep out during machining processes and gets mixed with the coolant as a hydraulic leak.
- Machine tool performance is greatly increased when the sump oil is removed from the metalworking fluid as it helps to improve fluid performance, efficiency and longevity
- Frequent recycling of metalworking fluid and removal of oil can make the work place safe for workers. Airborne oil mist tends to pollute the working environment thus affecting the overall air quality
- Stringently following fluid recycling programs can help metalworking companies attain ISO 14000 status
- Even though machines have an in-built process to remove chips, some fines get left behind and settle down at the bottom of the tank. These harbour bacteria and can soon develop into a greasy, smelly sludge. However a machine tool sump can be cleaned using a sump cleaner. Approximately 20 pounds of sludge can be cleaned from 40-50 gallons of coolant. The filtered fluid can then be re-used by sending it back to the sump
- This reduces purchase of coolant concentrate and disposal costs. Customers using a sump cleaner see extensive ROIs in just a few months
- Fluid recycling equipment are gaining rapid traction for the above reasons and come in different formats such as sump cleaners, oil skimmers, chip conveyors, high speed centrifuges and coalescers
Metalworking Fluids – What Does the Future Hold?
Metalworking fluids have given rise to safety concerns over the last few years. Thus manufacturers are now moving towards a product portfolio with a negative carbon footprint and that which reduces waste.
Congruent chemistry is heralding an era of water-based fluids that are two-pronged in their approach – one, the fluids act as cleaners and second by making all the elements compatible with the coolant. This obviates the need to skim oil. Some manufacturers opine that there has been a 40% reduction in the usage of conventional variants from older technologies.
Another area which is making waves in the field of metalworking fluids is that of nanotechnology in which micro-particles are used to lubricate machinery parts instead of water-based fluids.
Research is also being pioneered to improve the lubrication properties of water-based metalworking fluids so that it leaves less mould and residue behind.
Major fluid makers are working vigorously to streamline and stabilize metalworking fluids so that they can be used worldwide. Towards this, a vast array of coolants are being tested and optimized to ensure that they meet local and regional regulations and also the water quality conditions.
Thus fluid players are working round the clock in various labs and material testing centers to innovate on coolant technology that mimics real-world conditions as much as possible.
For instance, Castrol Industrial collaborates closely with GE, US to develop new aerospace fluid materials that are pending patent approval. Castrol has also partnered up with Ford, GM and Toyota on novel fluid applications.
Metalworking Fluids Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by FMI on the Metalworking Fluids market includes global industry analysis for 2015-2019 & opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters of the Metalworking Fluids market, the growth prospects of the market are obtained with maximum precision.
Metalworking Fluids Market: Taxonomy
The global Metalworking Fluids market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Chapter 01 – Executive Summary
The report initiates with the executive summary of the Metalworking Fluids market, which includes a summary of key findings and statistics of the market. It also includes the analysis & recommendation and wheel of fortune.
Chapter 02 – Market Overview
Readers can find the definition and a detailed taxonomy of the Metalworking Fluids market in this chapter, which will help them understand basic information about the market. Along with this, comprehensive information pertaining to Metalworking Fluids is provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the Metalworking Fluids market report.
Chapter 03 – Key Market Trends
The Metalworking Fluids market report provides the key market trends and developments that are expected to significantly impact the market growth during the forecast period.
Chapter 04 – Key Success Factors
The Metalworking Fluids market report provides key market factors that are expected to support the market growth over the forecast period. This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.
Chapter 05- Global Metalworking Fluids Market Demand Analysis 2015–2019 and Forecast, 2020–2030
This section explains the global market volume analysis and forecast for the Metalworking Fluids market in the forecast period of 2020-2030.
Chapter 06- Global Metalworking Fluids Market - Pricing Analysis
This section provides the pricing analysis for Metalworking Fluids on the basis of category segment.
Chapter 07 - Global Metalworking Fluids Market Demand (in Value or Size in US$ Mn) Analysis 2015–2019 and Forecast, 2020–2030
This section explains the global market value analysis or market size and forecast for the Metalworking Fluids market in the forecast period of 2020-2030. Readers can also find the absolute $ opportunity for the current year (2020), and an incremental $ opportunity for the forecast period (2020–2030).
Chapter 08 – Market Background
This chapter explains key macro-economic factors that are expected to influence the growth of the Metalworking Fluids market over the forecast period. This section also covers COVID-19 Impact assessment for the global market. Along with the macroeconomic factors, this section also highlights the supply chain and forecast factors for the Metalworking Fluids market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Chapter 09 – Global Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Category
Based on Category, the Metalworking Fluids market is segmented into Straight Oil, Emulsified Oil, Semi Synthetic and Synthetic. In this chapter, readers can find information about the key trends and developments in the Metalworking Fluids market and market attractiveness analysis based on category.
Chapter 10 – Global Metalworking Fluids Market Analysis by Product Type
This chapter provides details about the Metalworking Fluids market based on product type, and has been classified into Removal Fluids, Protection Fluids, Forming Fluids and Treating Fluids. In this chapter, readers can understand the market attractive analysis based on product type.
Chapter 11 – Global Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by End Use
Based on end use, the Metalworking Fluids market is segmented into Metal Fabrication, Heavy Machinery, Transportation Equipment and General Manufacturing. In this chapter, readers can find information about the key trends and developments in the Metalworking Fluids market and market attractiveness analysis based on end use.
Chapter 12 – Global Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030, by Region
This chapter explains how the Metalworking Fluids market will grow across several geographic regions such as North America, Latin America, Western Europe, Eastern Europe, China, India, Japan, SEAP, and Middle East & Africa
Chapter 13 – North America Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter includes a detailed analysis of the growth of the North America Metalworking Fluids market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on end use and countries in North America.
Chapter 14 – Latin America Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the Metalworking Fluids market in Latin America countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.
Chapter 15 – Western Europe Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the Metalworking Fluids market based on its end use in several countries such as Germany, France, Italy, U.K, Spain, BENELUX, and Rest of Western Europe are included in this chapter.
Chapter 16 – Eastern Europe Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the Metalworking Fluids market in Eastern Europe by focusing on Russia, Poland and Rest of Eastern Europe. This section also helps readers understand the key factors that are responsible for the growth of the Metalworking Fluids market in Eastern Europe.
Chapter 17 – China Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the Metalworking Fluids market based on its end use in China are included in this chapter. This section also helps readers understand the key factors that are responsible for the growth of the Metalworking Fluids market in China
Chapter 18 – India Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter highlights the growth of the Metalworking Fluids market in India. This section also helps readers understand the key factors that are responsible for the growth of the Metalworking Fluids market in India.
Chapter 19 – Japan Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the Metalworking Fluids market based on its end use in Japan are included in this chapter. This section also helps readers understand the key factors that are responsible for the growth of the Metalworking Fluids market in Japan
Chapter 20 – SEAP Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
Important growth prospects of the Metalworking Fluids market based on its end use in several countries such as ASEAN, Taiwan & South Korea, and Rest of SEAP are included in this chapter.
Chapter 21 – Middle East & Africa Metalworking Fluids Market Analysis 2015-2019 & Opportunity Assessment 2020-2030
This chapter provides the growth scenario of the Metalworking Fluids market in MEA countries such as GCC Countries, Turkey, South Africa and Rest of MEA. Along with this, an assessment of the market across target segments has been provided.
Chapter 22 - Key and Emerging Countries Metalworking Fluids Market Analysis
Important growth prospects of the Metalworking Fluids market for the key and emerging countries are included in this chapter. This chapter helps the reader to under the country wise scenario of the Metalworking Fluids market
Chapter 23 – Competition Analysis
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the Metalworking Fluids market, along with their market presence analysis by region and product portfolio. In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the Metalworking Fluids market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are ExxonMobil Corporation, Houghton International Inc., Quaker Chemical Corporation, Fuchs Petrolub SE, BP plc., Total S.A., Apar Industries Ltd., Yushiro Chemical Industry Co. Ltd., Cimcool Industrial Products B.V., Metalworking Lubricants Company among others.
Chapter 24 – Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the Metalworking Fluids market report.
Chapter 25 – Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the Metalworking Fluids market.
Sources and Primary Research Splits (%)