금속가공유 시장 예측(-2030년) : 제품, 기능, 최종사용자, 지역별 세계 분석

According to Stratistics MRC, the Global Metalworking Fluids Market is accounted for $12.2 billion in 2024 and is expected to reach $17.01 billion by 2030 growing at a CAGR of 5.7% during the forecast period. Metalworking fluids (MWFs) are specialized lubricants used in metalworking processes to reduce friction, dissipate heat, and improve the efficiency and quality of machining operations. They include oils, water-based emulsions, and synthetic fluids that aid in cooling, lubrication, rust prevention, and chip removal during tasks like cutting, grinding, and forming. MWFs enhance tool life, reduce wear, and prevent corrosion, making them essential in industries such as automotive, aerospace, and general manufacturing.

According to National Center for Biotechnological Information (NCBI) the 50-70% of the workers gets prone to diseases who work in direct contact with the metal working fluids.

Market Dynamics:

Driver:

Rising demand for high-performance machining

The rising demand for high-performance machining, especially automotive and aerospace, push for more complex and precise machining processes, the need for fluids that can provide superior cooling, lubrication, and chip removal becomes essential. High-performance machining often involves high-speed cutting, which generates more heat and requires effective temperature control to maintain tool life and part quality. Metalworking fluids tailored for these conditions ensure optimal machining efficiency, higher productivity, and better surface finishes. Consequently, manufacturers are increasingly adopting specialized MWFs that offer improved performance and meet the demands of precision engineering. This drives market growth as companies seek cutting-edge solutions for their machining needs.

Restraint:

Fluctuating raw material prices

The cost of essential inputs like base oils, additives, and specialty chemicals is influenced by volatility in crude oil prices, supply chain disruptions, and geopolitical factors. Such price instability impacts the manufacturing budgets, often raising production costs and reducing profitability for metalworking fluid manufacturers. Companies may struggle to maintain consistent pricing, risking reduced competitiveness and client satisfaction. Frequent adjustments to prices or formulations to mitigate costs can also disrupt production processes and quality consistency, hindering growth and stability within the metalworking fluids market.

Opportunity:

Growing adoption of bio-based fluids

The growing adoption of bio-based metalworking fluids are derived from renewable resources, offering lower toxicity and improved biodegradability compared to traditional petroleum-based fluids, which appeals to industries facing stringent environmental regulations. As companies focus more on sustainability, the shift to bio-based options helps reduce the carbon footprint and improve workplace safety. Additionally, bio-based fluids can enhance operational efficiency by offering superior performance in cooling, lubrication, and rust prevention. This trend is expected to foster market growth, especially in sectors like automotive and aerospace, where sustainable practices are gaining traction.

Threat:

Competition from substitute materials

Techniques like dry machining, which uses minimal or no lubrication, are gaining popularity due to their cost-effectiveness and environmental benefits. Solid lubricants and advanced coatings also provide effective alternatives for reducing friction and wear in machining processes. As these substitutes often eliminate the need for fluids altogether, they can limit the growth potential of the metalworking fluids market. Additionally, industries looking to cut costs and reduce chemical waste may opt for these alternatives, further challenging the demand for conventional metalworking fluids.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the metalworking fluids market, causing a decline in demand due to reduced manufacturing activities across automotive, aerospace, and industrial sectors. Lockdowns, labor shortages, and supply chain disruptions slowed production, while reduced industrial operations led to decreased consumption of metalworking fluids. Additionally, the market faced logistical challenges and increased costs, further affecting profitability. However, as industries gradually resumed operations post-pandemic, the demand for metalworking fluids began recovering, driven by renewed industrial and automotive manufacturing activities.

The aerospace segment is expected to be the largest during the forecast period

Over the forecasted timeframe, the aerospace segment is anticipated to dominate the market share, due to high-performance fluids for precision and durability in metal machining, grinding, and shaping processes. Aircraft components require complex machining with exact tolerances, often using hard metals like titanium and alloys that are challenging to work with. Metalworking fluids enhance tool life, provide cooling, and improve surface finish, essential in aerospace manufacturing to ensure safety and efficiency. Additionally, growth in commercial aviation and military sectors boosts demand for aerospace components, further expanding the metalworking fluids market.

The electronics & electrical segment is expected to have the highest CAGR during the forecast period

The electronics & electrical segment is expected to register lucrative growth during the estimation period, due to precision machining and component fabrication. Metalworking fluids are essential in the manufacturing processes for electronic components, cooling systems, and delicate parts where exacting tolerances are required. They enhance tool life, improve surface finish, and prevent overheating during processes like grinding, drilling, and milling. As the electronics industry advances, with trends in miniaturization and higher-performance devices, the need for reliable metalworking fluids grows. This demand contributes significantly to the metalworking fluids market's expansion, driven by the constant innovation in electronics and electrical manufacturing technology.

Region with largest share:

Over the forecasted timeframe, the Asia Pacific region is anticipated to dominate the market share fuelled by robust industrialization, expanding automotive production, and a thriving electronics manufacturing sector. Countries like China, Japan, and India are major contributors, with increasing investments in manufacturing and infrastructure. The demand for metalworking fluids is rising as precision machining and heavy-duty applications become more prevalent across industries. Additionally, the growth of renewable energy sectors and aerospace advancements is creating further opportunities, making Asia Pacific a key market for metalworking fluids with promising long-term prospects.

Region with highest CAGR:

The North America region is expected to register the highest growth rate over the forecast period, driven by advancements in the automotive, aerospace, and electronics industries, all of which require precision machining. Demand is fuelled by increased manufacturing activities in the United States and Canada, where high-tech machinery and automation drive the need for effective metalworking fluids to enhance tool longevity and productivity. Additionally, the rise of additive manufacturing and specialized applications for complex components in sectors like defense and electronics further supports market expansion.

Key players in the market

Some of the key players profiled in the Metalworking Fluids Market include Castrol (BP), Shell Lubricants, ExxonMobil Chemical, Chevron, TotalEnergies, Fuchs Petrolub AG, Quaker Houghton, Blaser Swisslube AG, Master Fluid Solutions, Houghton International, Idemitsu Kosan Co., Ltd., Sinopec Limited, Milacron, JX Nippon Oil & Energy Corporation and Eni S.p.A.

Key Developments:

In October 2024, ExxonMobil partnered with Mitsubishi Corporation on a large-scale low-carbon hydrogen project in Baytown, Texas. Planned as one of the world's largest hydrogen facilities, this collaboration aims to produce up to 1 billion cubic feet of low-carbon hydrogen daily by 2029, enhancing sustainable energy options between the U.S. and Japan through ammonia exports.

In July 2024, Castrol partnered with Audi's Formula 1 team, becoming official fuel and lubricant suppliers. This collaboration aligns with Formula 1's 2026 shift toward sustainable fuel regulations, and Castrol will work closely with Audi to innovate high-performance lubricants for their racing engines.

Products Covered:

• Cutting Fluids
• Forming Fluids
• Quenching Fluids
• Rolling Oils
• Rust Preventive Oils
• Grinding Fluids
• Other Products

Functionalities Covered:

• Cooling
• Corrosion Protection
• Chip Removal
• Cleaning
• Other Functionalities

End Users Covered:

• Automotive
• Aerospace
• General Manufacturing
• Metal Fabrication
• Marine
• Heavy Machinery
• Electronics & Electrical
• Medical Devices
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Product Analysis
• 3.7 End User Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Metalworking Fluids Market, By Product

• 5.1 Introduction
• 5.2 Cutting Fluids
  • 5.2.1 Soluble Oils
  • 5.2.2 Semi-Synthetic Fluids
  • 5.2.3 Synthetic Fluids
• 5.3 Forming Fluids
  • 5.3.1 Drawing Fluids
  • 5.3.2 Stamping Fluids
• 5.4 Quenching Fluids
• 5.5 Rolling Oils
• 5.6 Rust Preventive Oils
• 5.7 Grinding Fluids
• 5.8 Other Products

6 Global Metalworking Fluids Market, By Functionality

• 6.1 Introduction
• 6.2 Cooling
• 6.3 Corrosion Protection
• 6.4 Chip Removal
• 6.5 Cleaning
• 6.6 Other Functionalities

7 Global Metalworking Fluids Market, By End User

• 7.1 Introduction
• 7.2 Automotive
• 7.3 Aerospace
• 7.4 General Manufacturing
• 7.5 Metal Fabrication
• 7.6 Marine
• 7.7 Heavy Machinery
• 7.7 Electronics & Electrical
• 7.9 Medical Devices
• 7.10 Other End Users

8 Global Metalworking Fluids Market, By Geography

• 8.1 Introduction
• 8.2 North America
  • 8.2.1 US
  • 8.2.2 Canada
  • 8.2.3 Mexico
• 8.3 Europe
  • 8.3.1 Germany
  • 8.3.2 UK
  • 8.3.3 Italy
  • 8.3.4 France
  • 8.3.5 Spain
  • 8.3.6 Rest of Europe
• 8.4 Asia Pacific
  • 8.4.1 Japan
  • 8.4.2 China
  • 8.4.3 India
  • 8.4.4 Australia
  • 8.4.5 New Zealand
  • 8.4.6 South Korea
  • 8.4.7 Rest of Asia Pacific
• 8.5 South America
  • 8.5.1 Argentina
  • 8.5.2 Brazil
  • 8.5.3 Chile
  • 8.5.4 Rest of South America
• 8.6 Middle East & Africa
  • 8.6.1 Saudi Arabia
  • 8.6.2 UAE
  • 8.6.3 Qatar
  • 8.6.4 South Africa
  • 8.6.5 Rest of Middle East & Africa

9 Key Developments

• 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 9.2 Acquisitions & Mergers
• 9.3 New Product Launch
• 9.4 Expansions
• 9.5 Other Key Strategies

10 Company Profiling

• 10.1 Castrol (BP)
• 10.2 Shell Lubricants
• 10.3 ExxonMobil Chemical
• 10.4 Chevron
• 10.5 TotalEnergies
• 10.6 Fuchs Petrolub AG
• 10.7 Quaker Houghton
• 10.8 Blaser Swisslube AG
• 10.9 Master Fluid Solutions
• 10.10 Houghton International
• 10.11 Idemitsu Kosan Co., Ltd.
• 10.12 Sinopec Limited
• 10.13 Milacron
• 10.14 JX Nippon Oil & Energy Corporation
• 10.15 Eni S.p.A.