The global metal working oil market is expected to reach US$ 14 billion by 2030, with an annual growth rate of more than 3.8%.
Wilmington, Delaware, Nov. 06, 2023 (GLOBE NEWSWIRE) — According to RationalStat recent market study, the Global Metal Working Oil Market value is estimated at US$ 10.8 billion in 2023 and is expected to rise at a strong CAGR of over 3.8% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Metalworking oil is a type of industrial lubricant and coolant used in metalworking processes. It is also known as cutting fluid or metalworking fluid. Its purpose is to minimize friction, distribute heat, and remove metal chips or debris during machining, cutting, grinding, and other metalworking operations.
Metalworking oils are in high demand as the global manufacturing industry expands. Metalworking processes are highly used in industries such as automotive, aerospace, electronics, and machinery, which drives the market for metalworking oils.
- According to a deep-dive market assessment by RationalStat, the global Metal Working Oil market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Metal Working Oil market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Metal Working Oil market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Metal Working Oil Market: Segmental and Market Share Analysis
- On the basis of application, due to increasing product demand, the machinery segment led the market in 2022, accounting for more than 35% of worldwide revenue.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 10.8 billion |
| Market Size Forecast | US$ 14 billion |
| Growth Rate | 3.8% |
| Dominant Segment | Machinery |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. These companies offer a wide range of metal working oils, formulated to meet the specific needs of different metalworking operations, such as cutting, grinding, and milling. The market is also seeing the development of new technologies, such as water-soluble metal working oils and metal working oils with extreme pressure additives.
Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global metal working oil market include,
- In April 2023, ETNA Products purchased JTM Products’ metalworking fluids line. The JTM metalworking product line provides ETNA with cutting-edge technology as well as a world-class distribution network.
Some of the prominent players and suppliers operating and contributing significantly to the global metal working oil market growth include Houghton International, Inc., Blaser Swisslube AG, BP plc, Exxon Mobil Corp., Total S.A., FUCHS, Chevron Corp., China Petroleum & Chemical Corp., and Kuwait Petroleum Corp, among others.
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RationalStat has segmented the global metal working oil market based on type, application, and region
- Global Metal Working Oil Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Type
- Neat Cutting Oils
- Water Cutting Oils
- Corrosion Preventive Oils
- Others
- Global Metal Working Oil Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Application
- Metal Fabrication
- Transportation Equipment
- Machinery
- Others
- Global Metal Working Oil Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Region
- North America Metal Working Oil Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Metal Working OilMarket Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Metal Working OilMarket Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Metal Working OilMarket Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Metal Working OilMarket Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Metal Working OilMarket Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Metal Working Oil Market Value (US$ Million), Volume (Liters), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Metal Working Oil Report:
- What will be the market value of the global Metal Working Oil market by 2030?
- What is the market size of the global Metal Working Oil market?
- What are the market drivers of the global Metal Working Oil market?
- What are the key trends in the global Metal Working Oil market?
- Which is the leading region in the global Metal Working Oil market?
- What are the major companies operating in the global Metal Working Oil market?
- What are the market shares by key segments in the global Metal Working Oil market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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