Quenching is a process of rapidly cooling a material from high temperature. A quenching oil’s purpose is to control heat transfer during the metal or steel manufacturing process.
The notable properties of quenching oil include non-toxic, non-corrosive, better thermal conductivity, low volatility, better oxidation stability, and elevated flash point, among others. Quenching oil contains numerous additives such as anti-oxidants, rust inhibitors, wetting agents and other accelerators.
The performance and life cycle of quenching oil depends upon its thermal stability and the content of additives. Quenching oil can be classified into several categories depending on their functional characteristics, i.e., quenching rate and operating pressure. The petroleum-based quenching oil requires relatively higher speed and operating temperature.
Quenching oil is applied on steel/metallic parts, ferrous alloys, and used in in several other operations. Moreover, quenching oil finds application in the several end-use sectors including automotive and other mining operations.
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Global Quenching Oil market: Dynamics
Quenching oil finds numerous applications in almost all the manufacturing sectors such as mining, automotive, and processing plants, among others, which is major driving factor for the growth of the global quenching oil market.
There has been significant demand for steel in various end-use sectors, which is expected to drive the demand and growth of the global quenching oil market over the forecast period. The growing number of mining processing, food processing, automotive and other processing plants is the key factor expected to drive the global quenching oil market over the forecast period.
Further, rising demand for high-speed quenching oil to optimize the heat resistance to adhere the surface of working piece in order to reduce the sludge is expected to drive the growth of the quenching oil market during the forecast period. Also, growing efforts for developing more reliable bearings is also intensifying the competition among the players operating in the global quenching oil market.
However, one of the major issues associated with quenching oil is high maintenance cost, which is expected to hamper the growth of the global quenching oil market over the forecast period. The variation in cost of quenching oil or fluctuation in prices of quenching oil are the factors that negatively expected to impact the growth of the global quenching oil market over the forecast period.
Global Quenching Oil market: Regional Outlook
The global quenching oil market is segmented into seven key regions, namely North America, Latin America, Middle East & Africa, Asia-Pacific, Eastern Europe, Western Europe and Japan. The market majorly depends on industrial processing, which is relatively high in developed markets, i.e., North America and Europe.
Moreover, China, Japan and India are expected to achieve new significant growth in the Asian market, where China is expected to be the most dominant country in the region over the forecast period. The Gulf Cooperation Council countries in the Middle East are developing a unified regulatory system in many sectors, including mining. This, in turn, is expected to drive the quenching oil market in the Middle East & Africa over the forecast period.
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Global Quenching Oil Market: Key Players
Examples of some of the key players identified across the value chain of the global quenching oil market are:
- Euclid Heat Treating Company
- CONDAT
- OilPure Technologies
- Rocky Valley Oil
- S. Dodge Oil
- Dow Chemical
- Paras Lubricants Limited
- Tashoil Company Pvt. Ltd.
- ThermTech
- VAC Aero
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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