Metalworking fluids market poised to gain impetus from aerospace sector
Sellbyville, DE -- (SBWIRE) -- 07/01/2020 -- Global Market Insights, Inc., predicts that global metalworking fluids market size will be worth $15 billion by 2025. Many countries including China, India, Japan, and Saudi Arabia are increasingly spending on defense on account of increased security concerns and threats. Expansion of the defense sector, a major consumer of metalworking fluids, is expected to augment the market share significantly.
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While metalworking fluids can serve as both lubricants and coolants, a slew of processes in the business spectrum is being enhanced through the application of a high performance fluid. With MWFs bolstering equipment life, enhancing workpiece quality and ramping up manufacturing, the metalworking fluids market dynamics are set to be more pronounced in the next five years.
Use of MWFs as removal fluids will provide lucrative opportunity for the manufacturers as the fluids are being highly sought-after for facilitating chip removal. As such, use of MWFs to protect both the equipment and workpiece will continue to fuel the metalworking fluids market size expansion.
Global metalworking fluids market forecast will be mainly driven by robust demand across aerospace, defense, marine, and automotive applications. Rapid industrialization and urbanization, particularly in emerging economies, and the subsequent growth of the construction sector is anticipated to fuel the demand for metalworking activities in the near future.
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The global aerospace & defense sector application segment is projected to grow at a healthy 4.1% CAGR up to 2025. This can be attributed to the recovery of global economies and stable commodity prices which has consequently increased the demand for air travel and fuel military budgets. Lucrative growth in commercial aircraft sector will undeniably complement metalworking fluids market outlook over the coming years.
Apar Industries Ltd, Castrol Limited, Chevron Phillips Chemical Company LP, Chem Arrow Corporation, Exxon Mobil Corporation, FUCHS, Clariant AG, Lukoil Lubricants, Lubrizol Corporation, TOTAL Sa, Quaker Chemical Corporation, The Dow Chemical Company, Master Chemical Corporation, Milacron, Henkel Corporation, Infineum International Limited, Italmatch Chemicals SPA, Chemetall GmbH, PPG Industries, Inc., are the top companies in the metalworking fluids market.
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