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Raipur, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the metalworking fluids market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Metalworking Fluids Market is driven by a host of factors, some of which are noted below:
The growth of the heavy machinery industry is the primary driver of the market. Increasing use of lightweight materials in high-performance applications. The manufacturing of involute geometrics from lightweight metals necessitates proper lubrication, boosting metalworking fluid sales.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Metalworking Fluids Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Product Type (Neat Oil, Soluble Oil, Semi-Synthetic Fluids, and Synthetic Fluids), By Application Type (Removal Fluids, Forming Fluids, Protecting Fluids, and Treating Fluids), By Industry Type (Automotive, Aerospace, Construction, Electrical & Power, Agriculture, Marine, Healthcare, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World).
Metalworking Fluids Market Insights
Market Trends by Product Type
The market is segmented as neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids. Synthetic fluids are expected to experience the highest growth during the forecast period, owing to their superior and consistent performance. On the other hand, neat oils hold a market share of more than 40% in 2021 and are likely to witness promising growth possibilities over the assessment period, on account of their multiple benefits including rust prevention, metal finishing, higher evaporation capability, and lubricity.
Market Trends by Application Type
The market is segmented as removal fluids, forming fluids, protecting fluids, and treating fluids. Removal fluids are estimated to register the highest growth during the assessment period. The growth of the segment can be attributed to these fluids owing to a wide range of performance capabilities for grinding and machining processes in the industrial sector.
Market Trends by Industry Type
The market is segmented as Automotive, Aerospace, Construction, Electrical & Power, Agriculture, Marine, Healthcare, and Others. The construction segment holds a market share of more than 27.2% in 2021 and is likely to remain the dominant segment during the assessment period. Excavators, loaders, forklifts, cranes, dozers, and other types of machinery are just a few examples of the equipment that the construction sector manufactures.
In addition, the sector comprises a range of ferrous and non-ferrous components for interior and exterior applications, including those for garage doors, gates, sealing angles, shutters, balconies, window frames, stair railing grills, and parking spot blinds, among others. The segment is expected to grow throughout the assessment period as a result of urbanization and an increase in investments in building and construction activities.
Which region offers the best opportunity and growth?
Asia-Pacific dominated the market in 2021 and accounted for more than 40% share of the overall industry volume. The region is estimated to maintain its indomitable lead during the forecast period as well. Increasing automotive customer bases in China and India along with robust industrialization in the Asia-Pacific region is expected to significantly boost product demand in the coming years.
COVID-19 Impact on the Metalworking Fluids Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
FUCHS Castrol Quacker Chem Arrow Corporation ExxonMobil The Lubrizol Corporation Total S.A.
What deliverables will you get in this report?
In-depth analysis of the metalworking fluids market. Detailed market segmentation. Competitive-landscape analysis. Historical, present, and future market size analysis. Industry trends, technologies, and advancements. Growth and operation strategies adopted by key players. Potential segments/regions offering promising growth. Geographical presence of the key players.
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
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