ALBANY, N.Y., Oct. 21, 2020 /PRNewswire/ -- Multiple growth factors are being noted in the landscape of global metalworking fluids market. Some of the prominent ones that are keeping the market's trajectory high, promising a positive outlook, include expansion in automotive and heavy machinery industries. These are helping the market players operating in the vendor landscape with new and untapped growth opportunities.
As per Transparency Market Research, "The CAGR of the market over the forecast period of 2019 to 2027 will be about 4%. Market worth, as a result of this robust growth, would reach a value of USD 15 billion by the end of this period from about USD 11 billion in 2018."
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Key Findings of Global Metalworking Fluids Market Study:
- In terms of application, segment for removal fluids is anticipated to maintain a dominant position in the market, charting a notable CAGR over the forecast period
- Region-wise, Asia Pacific (APAC) is anticipated to hold a major share of the global metalworking fluids market
- North America, Europe are excepted to record moderate growth, over the period mentioned above
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Key Drivers of Growth in Global Metalworking Fluids Market:
- Growth in automotive industry is being noted and it is anticipated that this will drive the market of metalworking fluids forward in a major way over the forecast period
- Another industry that is expected to be a major contributor to growth in the market is the steel fabrication industry, which is growing notably
- Rapid industrialization is another growth propeller in the global metalworking fluids market
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Regional Analysis of Global Metalworking Fluids Market:
- Leading share in the global metalworking fluids market was held by Asia Pacific (APAC) region in the year 2018
- Over the forecast period, trend of APAC's regional dominance is set to continue and countries such as India and China are expected to contribute notably to this positioning
- Being hotspots of auto components' manufacturing is helping the two countries be prominent growth propellers
- Rapid industrialization is another notable factor that is driving growth in the regional market
- Moderate growth will be noted in European and North American regions
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Competitive Landscape of Global Metalworking Fluids Market:
Presence of a large number of players in the global metalworking fluids market makes the vendor landscape quite fragmented. Key players operating here include Total S.A., Chevron Corporation, Indian Oil Corporation Ltd, Henkel AG & Co. KGaA, HPCL, Exxon Mobil Corporation, Houghton International Inc., Shell, BP, Croda International Plc, and China Petrochemical Corporation, among others.
Transparency Market Research has provided a deep-dive into the competitive landscape of this market. In its report, it has comprehensively profiled these players. Information on financials and recent developments are also laid out in the report.
It is also quite pertinent to note here that top-tier players are engaging with a host of growth strategies. These are primarily aimed at achieving higher growth. Some of the common focus areas in the market that promise better market positioning include development of better products, and intensive and extensive research and development activities.
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Metalworking Fluids Market: Application
- Removal Fluids
- Forming Fluids
- Protecting Fluids
- Treating Fluids
Metalworking Fluids Market: Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East
- South Africa
- Rest of Middle East & Africa
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