Metalworking fluids are primarily used in manufacturing industries to reduce tool wear friction and improve the quality of workpiece and process productivity.
“Metal
working fluids are one of the most complex attributes of any manufacturing
process, which has a proportionate impact on energy resources and productivity.
MWF is an emerging trend and its futuristic potential is regarded as a
substitute for fossil fuel.”
The
prolonged use of metal working fluids has been reported to cause several health
problems such as cancer, bronchitis, asthma, and hypersensitivity pneumonitis.
The prevailing health hazards associated with the use of metal working fluids
is a major factor hampering the metalworking fluid industry growth.
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What is the future of Metalworking fluids?
Metalworking fluids Market size is likely to reach USD 14.54 billion by 2025,
registering at a 4.4% CAGR during the forecast period.
The
metalworking fluids market has been segmented based on the product type into
mineral, synthetic and bio-based. Based on application, the market has been
categorized as neat cutting oils, water cutting oils, and others. Water cutting
oils have been further sub segmented into soluble cutting oils, synthetic
cutting oils, and semi-synthetic cutting oils. The metalworking fluid market
has found its numerous industries across metal fabrication, machinery,
transportation equipment, and others. Industrial end-users consist of
construction, agriculture, electrical & power, aerospace, rail, automobile,
telecommunication, marine, and healthcare.
Neat
cutting oil or insoluble oil is generally used in a combination with mineral
oil to enhance its performance under high pressure and temperatures. These are
used as lubricants to improve the finish on a metal cut and prevent its rusting
process. However, researchers in several epidemiological studies have scaled
the adverse effects of polycyclic aromatic hydrocarbons (PAHs) that are present
in neat cutting oils and thus, propelled an adoption of synthetic cutting oils.
Synthetic metalworking fluid provides detergent action, reduces oxidation and
misting to offer effective rust protection mechanism. Synthetic MWF is a
composition of organic and inorganic salts mixed in water. It has not
demonstrated any potential adverse health effects.
Geographical
segmentation has presented a detailed analysis of push-to-talk market growth
prospects across the regions of North America, the Asia Pacific, Europe, the
Middle East, and Africa, and Latin America. The developing countries of Asia
Pacific and the Middle East & Africa have demonstrated steady growth due to
low labor costs and minimum initial investments. The Indian and Chinese government
policies are keen on implementing export-oriented standards in order to grab
the international attention, which shall be fueling their foreign trades in the
upcoming years. The flourishing heavy-duty manufacturing industries across
North America and European regions have generated a firm demand for
metalworking fluids market.
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The
competitive landscape showcases the profiles and business strategies of the
major players, along with their recent developments. Some of the dominant
players operating in this market include Apar Industries Limited, Chevron
Phillips Chemical Company, Castrol, ExxonMobil Houghton International, , Fuchs
Lubricants Co., LUKOIL, Total, The Lubrizol Corporation, Quaker Chemical
Corporation, Master Chemical Corporation, The Dow Chemical Company, Milacron,
Henkel, Chemetall, Afton Chemical, PPG Industries, Hindustan Petroleum
Corporation Limited, Shell, Indian Oil Corporation Limited, PT.Pertamina
(Persero), and SINOPEC among others.
Players
are entering into business partnerships with fellow contestants and are
significantly investing in innovation strategies, which is estimated to drive
the cellular vendors to reach new growth markets.
Government
regulations related to the use of metal working fluids has mandated the
production of additives that extend the properties of MWFs and consequently
sustain the environment and workpiece. The development of bio-based
metalworking fluids has maturely handled the manufacturing requirements of the
food industry. The addition of a large number of natural chemicals for handling
food materials has mitigated the food industry into metalworking applications.
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