Metalworking fluids Market for the construction industry will showcase 4.5% growth rate till 2026
Category: #business  By Ravi Chawat  Date: 2021-03-15
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Metalworking fluids Market for the construction industry will showcase 4.5% growth rate till 2026

Metalworking fluids market will grow substantially in the coming years owing to increased demand in automotive, marine, construction, and other end-use industries. Metalworking fluids are water-based fluids or neat oils generally used during the machining as well as shaping of metals to deliver cooling and lubrication. Apart from their common use to reduce heat and friction, these metalworking fluids are also used to remove metal particles in grinding operations and industrial machining.

Metalworking fluids for the construction industry will showcase 4.5% growth rate. Increasing population, industrialization growth, change in lifestyle shall drive the power demand across the globe. The electric & power segment will showcase over 3% growth rate over the coming years.

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The two key functions of metalworking fluids are to lubricate and to cool. These fluids also provide corrosion protection for machine tool and newly machined part while also helping the removal of swarf or chips from the cutting zone.

The market is segmented in terms of product, application, end-user, and regional landscape.

With respect to product, the market is bifurcated into neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids. Among these, the growing usage of soluble fluids in metal cutting operation owing to advantages offered by these products like improved surface finish and tool life will support product demand. The segment is likely to exhibit around 4.5% growth rate over the study timeframe.

The semi-synthetic fluids will hold over one third of market share owing to growing usage of semi-synthetic fluids from several end-use industries such as shipbuilding, automotive, aerospace, and general machining industries, which will drive market growth.

Based on application, the market is classified into removal fluids (PLA), forming fluids, protecting fluids, and treating fluids. Among these, the protecting fluids application segment will showcase growth rate of 4.8% owing to excellent lubrication and corrosion protection offered by these fluids that enhances tool and die life. The treating fluids segment is also anticipated to register substantial gains as they enable the strengthening of steel by regulating heat transfer. The segment is likely to exhibit a rate of growth that is over 3.8%, through the projected period.

Based on end-use, the market is segmented into automotive, marine, construction, aerospace, electrical & power, agriculture, healthcare, others. Among these, the construction sector is likely to witness growth owing to rising infrastructure development in several emerging economies, which are fueling the product demand.

Agriculture will showcase over 3.5% growth rate owing to rising demand for agricultural products, improving economic conditions along with disposable income. Increasing recreational spending across North America and Europe will drive the market demand in marine end-use segment. Metalworking fluids for marine applications will showcase around 5% growth rate.

From a regional frame of reference, Europe metalworking fluids market will showcase over 4% growth rate owing to the rising marine and automotive industry. Latin America metalworking fluids market will exhibit around 4.5% growth rate owing to proliferating construction and aerospace industries.

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About Author

Ravi Chawat    

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article c...

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