Product Code: PM3724
The global metalworking fluids market size is expected to reach USD 15.90 billion by 2032, according to a new study by Polaris Market Research. The report "Metalworking Fluids Market Share, Size, Trends, Industry Analysis Report, By Product (Mineral, Synthetic); By End-use (Machinery, Transportation Equipment); By Vertical; By Application; and Segment Forecasts, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand for automotive and industrial machinery is a key factor driving the market. Specific end-use sectors, including machinery, metal fabrication, and transportation equipment, are playing a significant role in expanding the market. Furthermore, the growth of the machinery and transportation equipment industries is expected to drive market growth during the forecast period. Additionally, the export of construction machinery, power equipment, agricultural machinery, and automotive equipment is contributing to market growth.
Moreover, the export of construction equipment in India witnessed a remarkable growth of 60.5% in 2022, with 7,802 units being exported. The central government of India has allocated a 36% increase in capital spending, amounting to USD 100.5 billion, for FY 2022, with a specific focus on infrastructure development. In Japan, there has been a stable growth in the production of agricultural machinery. Moreover, as per the data published by the Japanese Agricultural Machinery Manufacturers Association (JAMMA) indicates that the total production of farm equipment, including rice huskers, power threshers, & vegetable machinery, reached 520,394 units in 2021, a significant increase from the 429,862 units produced in 2020. Additionally, the production of tractors amounted to 120,061 units during the same period.
Growing demand for electricity and the upgrading of existing infrastructure for electricity generation, transmission, and distribution are expected to drive the market for electrical and power equipment, as well as the associated components. The manufacturing of these components involves the use of ferrous and non-ferrous metal parts, which require MWFs during the manufacturing process. As a result, the market for MWFs is anticipated to be fueled by the increased production of electrical and power equipment and the related components.
The sector is poised to experience growth as a result of the increased production of construction machinery and related components for industrial, residential, and commercial construction projects. The surge in public-private partnerships is anticipated to drive the demand for various construction components that utilize MWFs during their manufacturing processes. The emerging economies, driven by their expanding construction activities, are expected to play a crucial role in the growth of the MWFs market.
Metalworking Fluids Market Report Highlights
Mineral segment held the largest share, owing to the rise in consumption due to their low cost
Water cutting oils segment recorded steady growth, owing to its high usage in varied verticals
Machinery segment garnered the largest share, due to its high demand in construction & infrastructural activities
The global key market players include: Houghton International, Blaser Swisslube, BP plc, Exxon Mobil, Total, FUCHS, Chevron Corp., China Petroleum & Chemical Corp., and Kuwait Petroleum.
Polaris Market Research has segmented the metalworking fluids market report based on product, application, end use, vertical, and region:
Metalworking Fluids, Product Outlook (Revenue - USD Billion, 2023 - 2032)
- Mineral
- Synthetic
- Bio-based
Metalworking Fluids, Application Outlook (Revenue - USD Billion, 2023 - 2032)
- Neat Cutting Oils
- Water Cutting Oils
- Corrosion Preventive Oils
- Others
Metalworking Fluids, End Use Outlook (Revenue - USD Billion, 2023 - 2032)
- Metal Fabrication
- Transportation Equipment
- Machinery
- Others
Metalworking Fluids, Vertical Outlook (Revenue - USD Billion, 2023 - 2032)
- Construction
- Electrical & Power
- Agriculture
- Automobile
- Aerospace
- Rail
- Marine
- Telecommunication
- Healthcare
Metalworking Fluids, Regional Outlook (Revenue - USD Billion, 2023 - 2032)
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Metalworking Fluids Market Insights
- 4.1. Metalworking Fluids - Industry Snapshot
- 4.2. Metalworking Fluids Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Expansion of the automotive industry is anticipated to serve as a major catalyst for the market
- 4.2.1.2. Demand for Precision Machining
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Health and Safety Concerns
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Metalworking Fluids Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Metalworking Fluids Market, by Product
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 5.3. Mineral
- 5.3.1. Global Metalworking Fluids Market, by Mineral, by Region, 2019-2032 (USD Billion)
- 5.4. Synthetic
- 5.4.1. Global Metalworking Fluids Market, by Synthetic, by Region, 2019-2032 (USD Billion)
- 5.5. Bio-based
- 5.5.1. Global Metalworking Fluids Market, by Bio-based, by Region, 2019-2032 (USD Billion)
6. Global Metalworking Fluids Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 6.3. Neat Cutting Oils
- 6.3.1. Global Metalworking Fluids Market, by Neat Cutting Oils, by Region, 2019-2032 (USD Billion)
- 6.4. Water Cutting Oils
- 6.4.1. Global Metalworking Fluids Market, by Water Cutting Oils, by Region, 2019-2032 (USD Billion)
- 6.5. Corrosion Preventive Oils
- 6.5.1. Global Metalworking Fluids Market, by Corrosion Preventive Oils, by Region, 2019-2032 (USD Billion)
- 6.6. Others
- 6.6.1. Global Metalworking Fluids Market, by Others, by Region, 2019-2032 (USD Billion)
7. Global Metalworking Fluids Market, by End-use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 7.3. Metal Fabrication
- 7.3.1. Global Metalworking Fluids Market, by Metal Fabrication, by Region, 2019-2032 (USD Billion)
- 7.4. Transportation Equipment
- 7.4.1. Global Metalworking Fluids Market, by Transportation Equipment, by Region, 2019-2032 (USD Billion)
- 7.5. Machinery
- 7.5.1. Global Metalworking Fluids Market, by Machinery, by Region, 2019-2032 (USD Billion)
- 7.6. Others
- 7.6.1. Global Metalworking Fluids Market, by Others, by Region, 2019-2032 (USD Billion)
8. Global Metalworking Fluids Market, by Vertical
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 8.3. Construction
- 8.3.1. Global Metalworking Fluids Market, by Construction, by Region, 2019-2032 (USD Billion)
- 8.4. Electric & Power
- 8.4.1. Global Metalworking Fluids Market, by Electric & Power, by Region, 2019-2032 (USD Billion)
- 8.5. Agriculture
- 8.5.1. Global Metalworking Fluids Market, by Agriculture, by Region, 2019-2032 (USD Billion)
- 8.6. Automobile
- 8.6.1. Global Metalworking Fluids Market, by Automobile, by Region, 2019-2032 (USD Billion)
- 8.7. Aerospace
- 8.7.1. Global Metalworking Fluids Market, by Aerospace, by Region, 2019-2032 (USD Billion)
- 8.8. Rail
- 8.8.1. Global Metalworking Fluids Market, by Rail, by Region, 2019-2032 (USD Billion)
- 8.9. Marine
- 8.9.1. Global Metalworking Fluids Market, by Marine, by Region, 2019-2032 (USD Billion)
- 8.10. Telecommunication
- 8.10.1. Global Metalworking Fluids Market, by Telecommunication, by Region, 2019-2032 (USD Billion)
- 8.11. Healthcare
- 8.11.1. Global Metalworking Fluids Market, by Healthcare, by Region, 2019-2032 (USD Billion)
9. Global Metalworking Fluids Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Metalworking Fluids Market Assessment, By Geography, 2019-2032 (USD Billion)
- 9.3. Metalworking Fluids Market - North America
- 9.3.1. North America: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.3.2. North America: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.3.3. North America: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.3.4. North America: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.3.5. Metalworking Fluids Market - U.S.
- 9.3.5.1. U.S.: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.3.5.2. U.S.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.3.5.3. U.S.: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.3.5.4. U.S.: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.3.6. Metalworking Fluids Market - Canada
- 9.3.6.1. Canada: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.3.6.2. Canada: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.3.6.3. Canada: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.3.6.4. Canada: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4. Metalworking Fluids Market - Europe
- 9.4.1. Europe: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.2. Europe: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.3. Europe: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.4. Europe: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.5. Metalworking Fluids Market - UK
- 9.4.5.1. UK: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.5.2. UK: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.5.3. UK: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.5.4. UK: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.6. Metalworking Fluids Market - France
- 9.4.6.1. France: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.6.2. France: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.6.3. France: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.6.4. France: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.7. Metalworking Fluids Market - Germany
- 9.4.7.1. Germany: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.7.2. Germany: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.7.3. Germany: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.7.4. Germany: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.8. Metalworking Fluids Market - Italy
- 9.4.8.1. Italy: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.8.2. Italy: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.8.3. Italy: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.8.4. Italy: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.9. Metalworking Fluids Market - Spain
- 9.4.9.1. Spain: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.9.2. Spain: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.9.3. Spain: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.9.4. Spain: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.10. Metalworking Fluids Market - Netherlands
- 9.4.10.1. Netherlands: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.10.2. Netherlands: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.10.3. Netherlands: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.10.4. Netherlands: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.4.11. Metalworking Fluids Market - Russia
- 9.4.11.1. Russia: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.4.11.2. Russia.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.4.11.3. Russia: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.4.11.4. Russia: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5. Metalworking Fluids Market - Asia Pacific
- 9.5.1. Asia Pacific: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.2. Asia Pacific: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.3. Asia Pacific: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.4. Asia Pacific: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.5. Metalworking Fluids Market - China
- 9.5.5.1. China: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.5.2. China.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.5.3. China: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.5.4. China: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.6. Metalworking Fluids Market - India
- 9.5.6.1. India: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.6.2. India.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.6.3. India: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.6.4. India: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.7. Metalworking Fluids Market - Japan
- 9.5.7.1. Japan: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.7.2. Japan.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.7.3. Japan: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.7.4. Japan: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.8. Metalworking Fluids Market - Malaysia
- 9.5.8.1. Malaysia: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.8.2. Malaysia.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.8.3. Malaysia: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.8.4. Malaysia: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.9. Metalworking Fluids Market - Indonesia
- 9.5.9.1. Indonesia: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.9.2. Indonesia.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.9.3. Indonesia: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.9.4. Indonesia: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.5.10. Metalworking Fluids Market - South Korea
- 9.5.10.1. South Korea: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.5.10.2. South Korea.: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.5.10.3. South Korea: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.5.10.4. South Korea: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.6. Metalworking Fluids Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.6.2. Middle East & Africa: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.6.3. Middle East & Africa: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.6.4. Middle East & Africa: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.6.5. Metalworking Fluids Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.6.5.2. Saudi Arabia: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.6.5.3. Saudi Arabia: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.6.5.4. Saudi Arabia: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.6.6. Metalworking Fluids Market - South Africa
- 9.6.6.1. South Africa: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.6.6.2. South Africa: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.6.6.3. South Africa: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.6.6.4. South Africa: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.6.7. Metalworking Fluids Market - Israel
- 9.6.7.1. Israel: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.6.7.2. Israel: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.6.7.3. Israel: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.6.7.4. Israel: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.6.8. Metalworking Fluids Market - UAE
- 9.6.8.1. UAE: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.6.8.2. UAE: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.6.8.3. UAE: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.6.8.4. UAE: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.7. Metalworking Fluids Market - Latin America
- 9.7.1. Latin America: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.7.2. Latin America: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.7.3. Latin America: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.7.4. Latin America: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.7.5. Metalworking Fluids Market - Mexico
- 9.7.5.1. Mexico: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.7.5.2. Mexico: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.7.5.3. Mexico: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.7.5.4. Mexico: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.7.6. Metalworking Fluids Market - Brazil
- 9.7.6.1. Brazil: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.7.6.2. Brazil: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.7.6.3. Brazil: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.7.6.4. Brazil: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
- 9.7.7. Metalworking Fluids Market - Argentina
- 9.7.7.1. Argentina: Metalworking Fluids Market, by Product, 2019-2032 (USD Billion)
- 9.7.7.2. Argentina: Metalworking Fluids Market, by Vertical, 2019-2032 (USD Billion)
- 9.7.7.3. Argentina: Metalworking Fluids Market, by Application, 2019-2032 (USD Billion)
- 9.7.7.4. Argentina: Metalworking Fluids Market, by End-use, 2019-2032 (USD Billion)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Blaser Swisslube
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. BP plc
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Chevron Corp
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. China Petroleum & Chemical Corp
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. Exxon Mobil
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. FUCHS
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Houghton International
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. Kuwait Petroleum
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Total
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development