Metalworking fluids market worth US$14.79 billion by 2024

Metalworking fluids are used as coolants and lubricants in metalworking processes. They are also known as cutting fluids. Based on different applications, they have been segmented into removal fluids, forming fluids, treating fluids, and protecting fluids. Metalworking fluids are manufactured using different raw materials and processes such as petroleum distillates, animal fat, plant oil, air, and water. Metalworking fluids are categorized into different product type such as neat oil, soluble oil, semi-synthetic fluids, and synthetic fluids.

Removal fluids accounted for more than 50% volume share of the global metalworking fluids market in 2015. Growth in automation and metal fabrication industries is estimated to drive the market for metalworking fluids during the forecast period. Removal fluids are employed in lubricating the metal surface while removing excess metal from the job piece. Forming fluids was the second largest application segment, followed by protecting fluids and treating fluids, in 2015. Rolling oil, and stamping and drawing fluids are the types of forming fluids that are generally used in end-user industries such as steel & metal.

The global demand for metalworking fluids is projected to increase in the near future due to growth in end-use industries such as automation, and steel & metal. Waste disposal of metalworking fluids and health risks to operators are the major constraints likely to hamper the market growth in the near future. Increase in research and development activities in the metalworking fluids market to overcome the environmental disposal issue and health risks to operators is expected to further stabilize the demand for metalworking fluids in the near future.