Metalworking Fluids Market is Expanding Rapidly with German Lubricant Manufacturer Fuchs Petrolub Launching new cutting and grinding fluid ECOCOOL GLOBAL 1000 for Aerospace Industry

Metalworking Fluids market


 Metalworking fluids (MWF) is a wide range of oils and liquids that are used to lubricate and/or cool metal parts when they are being put into action. MWFs limit friction and heat generated between the cutting tool and the metal parts. It also helps to prevent smoking and burning. The cooling is further achieved by dissipating and conducting the generated heat. There are different types of metalworking fluids such as synthetic fluids, semi-synthetic fluids, straight oils, and soluble oils. Straight oil can be generated from vegetable, petroleum, animal, and marine oils. These oils are typically used for heavy-duty machining processes.

Growing exploration and production activities in oil & gas are expected to drive growth of the global metalworking fluids market during the forecast period. Many oil and gas corporations worldwide are focused on oil drilling activities with rising investment in the oil & gas sector. For instance, in December 2020, ExxonMobil Corporation and PETRONAS discovered hydrocarbons at Sloanea-1 exploration well on Block 52 offshore Suriname. Furthermore, in October 2020, ExxonMobil made its final investment of US$ 9 billion in Payara field offshore development in Guyana. Metalworking fluids are used in machining processes for lubrication in the cutting zone, provide cooling for workpiece materials, and assist in the removal of chips from the cutting zone. Thus, these factors are expected to drive growth of the global metalworking fluids market during the forecast period. Furthermore, rapid growth of the heavy machinery industry is expected to boost the global metalworking fluids market growth over the forecast period. 

However, growing trend of dry machining combined with the volatility of crude oil is expected to hamper the global metalworking fluids market growth over the forecast period. Among regions, Asia Pacific is expected to witness significant growth in the global metalworking fluids market during the forecast period. This is owing to increasing investments from multinational companies to set up their manufacturing facilities in emerging economies such as Indonesia, India, and China. Furthermore, Europe is expected to register a moderate growth during the forecast period, owing to growing emphasis on recycling of metalworking fluids and use of bio-based lubricants. 

Key companies operating in the global metalworking fluids market are BP plc, Valvoline Inc., Carl Bechem Lubricants India, Total, Chevron U.S.A. Inc., Petronas Lubricants International, Exxon Mobil Corporation, Motul, FUCHS, Milacron, HPCL, Klüber Lubrication München SE & Co. KG, and Indian Oil Corporation Ltd.

For instance, in March 2020, FUCHS Petrolub SE, a German manufacturer of lubricants, launched a new cutting and grinding fluid ECOCOOL GLOBAL 1000 for the aerospace industry.

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