Metalworking Fluids Market By Fluid Type, By Application, By Industries, Areas, Evolving And Forecast 2023-2032|Exxon Mobil Corporation, TotalEnergies, Houghton International Inc., Henkel, Fuchs Petrolub

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The Metalworking Fluids Global Market Report 2023 by The Business Research Company, provides metalworking fluids market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Metalworking Fluids Global Market Report 2023, the global metalworking fluids market size grew from $11.49 billion in 2022 to $12.26 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global metalworking fluids is expected to grow to $14.99 billion in 2027 at a CAGR of 5.1%.

The growing automotive sector is expected to fuel the growth of the metalworking fluids market in the forecast period. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design development, production, marketing, and sale of automobiles. Metalworking fluids, which minimize heat and friction in industrial cutting and grinding operations, are frequently utilized by automobile manufacturers in the manufacturing of car parts and other equipment.

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The metalworking fluids market is segmented:

1) By Type: Mineral, Synthetic, Bio-Based

2) By Application: Neat Cutting Oils, Water Cutting Oils, Corrosion Preventive Oils, Other Applications

3) By End-Use Industry: Construction, Electrical And Power, Automobile, Metal Fabrication, Transportation Equipment, Other End-Use Industries

The launch of new product lines is shaping the metalworking fluids market. Major companies operating in the metalworking fluids sector are focused on launching new product lines for metalworking fluids to improve product uniformity, cost, and marketability. For instance, in October 2020, Biosynthetic Technologies, a US-based manufacturer of bio based synthetic compounds, launched their new Bioceam product line of cutting-edge additives for use in metalworking fluids for the market. These innovative, environmentally friendly additives are bio based, biodegradable, non-bioaccumulative, and non-toxic and employ the patented estolide technology. The high-demanding water soluble, synthetic, and conventional oil additive applications of Biocea additives make use of Biosynthetic Technologies’ exclusive estolide technology.

The metalworking fluids market report table of contents includes: