The global cutting fluid market size is expected to grow significantly because of the high demand for cutting technologies across industries. Fortune Business Insights™ shares this information in its report titled “Cutting Fluid Market 2021-2028.

The use of cutting fluids in the automotive industry provides benefits such as reliability and ease of construction, thereby boosting the demand for such solutions. Further, several commercial sectors use fluids for metalworking applications, such as digging, stamping, and friction. These fluids are reliable and prevent resistance to cracks and tears while being used for cutting metals. In addition, they are used for the lubrication of metals and the cutter to ensure efficient cutting. In sum, cutting fluids boost productivity and help in achieving a better quality of products, making them a highly desirable investment for manufacturers.

Impact of COVID-19 

The recommencement of manufacturing activities in the automotive industry has led to the rise in the demand for advanced cutting technologies. The rising demand for vehicles has led to the increased adoption of fluid cutting technologies by several manufacturers, thereby influencing the cutting fluid market growth. However, it is difficult to predict the market growth attributable to the new strain of virus and lockdown in certain countries.

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Segments

By type, the market is segmented into water-based cutting fluids and neat oils. Based on source, it is segregated into bio-based and synthetic-based. On the basis of application, the market has been distributed into metalworking, oil & glass, automotive, general manufacturing, and others. Geographically, it is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Highlights of the Report

The report contains a detailed study of the leading segments and regional developments in the market. It comprehensively examines the impact of COVID-19 on the overall market and closely assesses the factors driving and restraining the growth of this market. Additionally, it analyzes the strategies implemented by competitors in the market. 

 

Drivers and Restraints 

Advantages of Cutting Fluids to Boost Demand and Positively Affect Market Growth

Fluid cutters are lightweight, resistant to chemical attacks, mechanically reliable, and offer good thermal conductivity. As a result, automobile manufacturers are adopting innovative fluid cutting methods to deliver quality products and boost product demand. For example, Castrol’s Smart Control system allows automakers to efficiently monitor and control their metalworking fluids, both in real-time and automatically. Moreover, the rising demand for cutting fluids to enable precision manufacturing of vehicles by automotive manufacturers will also contribute considerably to market growth. However, higher prices of raw materials, rising development costs, and competition from synthesized materials are restraints hampering the market. 

Regional Insights

Soaring Vehicle Sales & Use of Fluids for Manufacturing Vehicles to Propel the Asia Pacific Market

The strong development of the automotive sector is fueling the demand for cutting fluids in the Asia Pacific region and positively impacting the regional market. In addition, the setting up of auto plants by western carmakers in India and China will create enormous opportunities for the market here.

The North American car industry is surging and influencing significant progress for the market. The manufacturing sector of Europe will increase the adoption of advanced cutting solutions and allow the region to secure a prominent position in the cutting fluid market share.

Competitive Landscape

Competitors to Focus on Securing Strong Market Position by Devising Novel Strategies

The market’s key players have focused on innovation in production techniques to enhance product quality, decrease time consumption, and ensure productivity. For example, Idemitsu Kosan Company Ltd., a Japanese petroleum company, undertook an expansion strategy to boost its output capacity to attain better reach in China in October 2015. Through this strategy, the company aims at fulfilling the rising demand for lubricants in China, providing enhanced production methods. The companies aim for fulfilling consumer needs and staying ahead of the competitors in the market. They study the extremely competitive market and undertake activities to overcome their shortcomings.

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List of the Key Players in the Cutting Fluid Market Report

  • Exxon Mobil Corporation

 

  • Idemitsu Kosan

 

  • Chevron Corporation

 

  • Total S.A.

 

  • Quaker Chemical Corporation

 

  • Fuchs Petrolub SE

 

  • p.A

 

  • BlasserSwisslube

 

  • Pro Oils

 

  • Houghton International Inc.

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