Cutting Fluid is a type of lubricant or coolant which is used as a metalworking fluid in several industrial applications such as stamping, milling turning and drilling. Cutting Fluids are specifically designed to prevent wear and tear these fluids increase the durability of the tools involved. Cutting fluids primarily regulate temperature by cooling and also acts as a lubricant that lubricate the work piece interface.
Role of cutting fluids is very critical in achieving higher productivity levels and efficiencies as number of variables affect the final finish of any component.
Cutting fluids are essential in the machining process as excess heat produced during the machining process makes the machine quite prone to wear and tear. Thus, cutting fluids play a vital role in many of the industrial applications. Cutting fluids are designed to increase the productivity of machines and the metal working process.
These fluids find applications in several industries including the automobile industry. Owing to above mentioned factors, the demand for cutting fluids is anticipated to witness significant growth thus contributing to the global cutting fluids market during the forecast period.
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Cutting Fluid Market: Dynamics
Up gradation to newer technologies in various sectors such as metal engineering, automotive industry, energy sector have gathered higher demand for cutting fluids. Manufacturers are more focused on reducing cost and increasing productivity with the use of high quality cutting oils. These factors coupled with growth in automobile industry, subsequently result in growth of global cutting fluid market.
With the product evolution, the cutting fluids market has witnessed several advancements in formulation to reduce VOC levels, facilitate anti-contaminant and anti-microbial properties keeping in mind about improved surface adhesion, heat dissipation and viscosity levels. This endeavor has resulted in transition from use of conventional synthetic based cutting fluids towards bio-based and semi-synthetic cutting fluids.
Cutting fluids are made out of base oils which are extracted from crude oil. The volatility in crude oil prices can directly impact the production of cutting fluids. Other than that, health hazards to humans as well as disposal of cutting fluids in environment remain area of concern. These are some of the factors which may impact the growth of cutting fluid market in near future.
Manufacturers are keen on producing different kind of cutting fluids in accordance with the requirement and development of machines. Disposal of cutting fluids has remained a matter of concern since long time, hence manufacturers are inclined towards bio based cutting fluids.
Hence investments in research and development to cater the growing demand of cutting fluids has set trend in the global market. This is coupled with the recycling of cutting fluids with the growing environmental regulations.
Cutting Fluid Market: Regional Outlook
In countries such as China and India, robust demand from the automobile industry will create substantial opportunities for the cutting fluid market. Owing to this Asia Pacific is estimated to dominate the demand of cutting fluid in the coming decade.
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Growing demand from automobile industry in North America is expected to fuel the market growth. In addition, the strong manufacturing industry in Europe is anticipated to result in higher demand for cutting fluids. Whereas, Middle East & Africa and Latin America regions will witness steady growth throughout the forecast period.
Cutting Fluid Market: Key Participant
Some of the key players in the global Cutting Fluid market are:
- Exxon Mobil Corporation
- Idemitsu Kosan
- Chevron Corporation
- Total S.A.
- Indian Oil Corporation Ltd
- Quaker Chemical Corporation
- Fuchs Petrolub SE
- Eni S.p.A
- Blaser Swisslube
- Pro Oils
- Houghton International Inc.
The research report on the Cutting Fluid market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Cutting Fluid market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, vehicle type, and sales channel.
The report covers exhaustive analysis on
- Cutting Fluid Market Segments
- Cutting Fluid Market Dynamics
- Cutting Fluid Market Size
- New Sales of Cutting Fluid
- Current Trends/Issues/Challenges in the Cutting Fluid Market
- Competition & Companies Involved in Cutting Fluid
- New Technology for Cutting Fluid
- Value Chain of the Cutting Fluid Market
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Cutting Fluid market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
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The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Cutting Fluid Market: Segmentation
The global Cutting Fluid market can be segmented on the basis of product type, source and end use industry.
On the basis of product type, the global Cutting Fluid market is segmented as:
- Water Based Cutting Fluids
- Water
- Emulsions (soluble oil)
- Synthetic fluids
- Neat Oils
- Mineral oils
- Fatty oils
- Composed oils
- Extreme pressure oils (EP)
- Multiple use oils
On the basis of source, the global Cutting Fluid market is segmented as:
- Bio-Based
- Synthetic Based
On the basis of end-use industry, the global Cutting Fluid market is segmented as:
- Metal Working Industry
- Oil & Gas industry
- Automotive Industry
- General Manufacturing Industry
- Others
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