Published Date : 2024-Nov-21
The global metalworking fluids (MWF) market is experiencing significant growth, with leading companies innovating to meet increasing demands across industries, particularly automotive, aerospace, and heavy machinery. Here's a look at some of the top players in the metalworking fluids market as of 2024, with an overview of each company's background, regional market strengths and companies including BASF, Chevron, ExxonMobil, Fuchs Petrolub, Quaker Chemical, TotalEnergies, Halliburton, Sinopec and Castrol Limited.
Metalworking Fluids Market Size, Share & Trends Analysis Report By Product (Mineral, Synthetic, Bio-Based), By Application (Neat Cutting Oil, Water Cutting Oil, Corrosion Preventive Oil, Others), By End-use (Metal Fabrication, Transportation Equipment, Machinery, Others), By Industrial End-use (Construction, Electric & Power, Agriculture, Automobile, Aerospace, Rail, Marine, Telecommunications, Health Care) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2031.
According to a new report by IMIR Market Research on Global the size of the Metalworking Fluids Market was estimated to be around USD 12.18 billion in 2023, and it is projected to grow at a CAGR of 4.9% over the forecast period (2024–2031) to reach a value of USD 18.2 billion by 2031.
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Increased demand for heavy industry and automotive machinery is expected to fuel product demand. The market for metalworking fluids (MWFs) is growing because to the need from specific end-use industries like transportation, metal fabrication, and machinery. Crude oil is the most basic raw material used in the product's manufacturing. Crude oil is refined, processed, and blended to create the required soluble oils, corrosion-preventive oils, and plain cutting oils. A major raw ingredient that makes up around 40% of the entire cost of MWF is base oil, which is produced from crude oil.
Crude oil is processed into base oil by heating and refining it. It is employed in the production of MWFs, lubricants, and motor oils. Product demand is anticipated to be significantly influenced by the expansion of the automotive sector. Because of its ability to reduce friction between the workpiece and the tool, remove metal chips, provide a high-quality surface, and prolong tool life, the product finds application in the automotive industry. Higher machine production volumes are achieved by increasing the efficiency of machining processes with the use of metalworking fluids. As a result, during the projected year, the demand for metalworking fluids is expected to remain steady.
This has caused MWFs to become more widely used in end-use markets for machinery and transportation equipment. The market is expected to be driven by the expansion of the heavy machinery sector in developing nations in Asia Pacific, Central America, and South America. One major reason impacting the demand for MWFs in the oilfield equipment business is the increased exploration and production of oil and gas in these regions, particularly by Chinese petroleum corporations.
Indian Oil Corporation Ltd. (IOCL), commonly known as IndianOil, is India’s largest commercial oil company and a leading energy provider. IOCL operates across multiple sectors, including refining, pipeline transportation, petrochemicals, and renewable energy. In the metalworking fluids (MWF) market, IndianOil offers various industrial lubricants and specialty fluids essential for machining, cutting, and other manufacturing processes.
IndianOil produces a range of industrial lubricants and metalworking fluids under its Servo brand, which is a well-established name in the Indian market for industrial lubricants. Key products include cutting oils, coolants, and metal-forming fluids, which are widely used in industries such as automotive, manufacturing, and machinery. The Servo MWF products are designed to improve cutting efficiency, reduce tool wear, provide cooling, and protect against corrosion.
BASF is a leading global chemical company that plays a significant role in the production of specialty products, including metalworking fluids (MWF). BASF is known for its innovative chemical solutions used across various industries, including automotive, aerospace, and manufacturing.
Sustainability is a key focus for BASF, which has been at the forefront of developing eco-friendly metalworking fluids. The company is dedicated to reducing the environmental impact of its products by focusing on formulations that are biodegradable and safer for both workers and the environment. BASF’s commitment to sustainability aligns with its broader corporate goals to create solutions that support green manufacturing and reduce carbon emissions?.
Chevron a leading American multinational energy company involved in every aspect of the oil, natural gas, and geothermal energy industries, from exploration and production to refining, marketing, and distribution. Here’s an overview of Chevron’s profile, particularly focusing on its contributions to the metalworking fluids (MWFs) market:
Chevron produces a range of high-performance metalworking fluids under its Chevron Lubricants division. These fluids are essential in industrial metalworking applications to reduce friction, dissipate heat, and improve machining performance. Chevron’s MWFs are widely used in automotive manufacturing, aerospace, heavy machinery, and construction industries. Their formulations focus on improving cutting precision, extending tool life, and ensuring cooling efficiency, which is crucial in high-stress machining processes?
ExxonMobil is an American leading global energy and petrochemical company based in the United States, known for its extensive operations in oil, natural gas, and chemical production. Here’s an overview of ExxonMobil’s profile, particularly focusing on its contributions to the metalworking fluids (MWF) market. ExxonMobil specializes in fluids that offer advanced cooling properties and lubrication, essential in high-intensity manufacturing.
ExxonMobil, through its Mobil Industrial Lubricants division, produces a range of high-performance metalworking fluids. These fluids are critical for the smooth operation of metal cutting and machining processes across industries such as automotive, aerospace, heavy machinery, and precision manufacturing. ExxonMobil’s metalworking fluids are known for their cooling, lubrication, and corrosion resistance properties, essential for prolonging tool life and enhancing productivity in metalworking operations.
Fuchs Petrolub is a German group in the mineral oil & chemical sector, and one of the world's largest independent manufacturers of lubricants and related specialties, including metalworking fluids (MWF). The company has a global presence and is recognized for its innovative products designed to improve manufacturing processes, reduce wear, and extend the lifespan of machinery, making it a key player in the metalworking fluids market.
The company’s metalworking fluids are used extensively in machining, cutting, grinding, and metal forming processes. These products are engineered to provide excellent lubrication, cooling, and protection against corrosion. Key product lines include: Rhenus®, Ecocut® and Tribol®.
Fuchs’ products are widely used in industries such as automotive, aerospace, general manufacturing, and metal processing. Their metalworking fluids help reduce tool wear, improve machining performance, and ensure surface quality during the production process.
Quaker Chemical, known as Quaker Houghton, is an American leading global provider of process fluids, lubricants, and metalworking solutions used across various industrial sectors. With a robust reputation in the metalworking fluids (MWF) market, the company offers specialized solutions for industries like automotive, aerospace, metals, and industrial manufacturing.
Quaker Houghton specializes in formulating, producing, and distributing high-performance fluids and chemicals tailored for metalworking and industrial processes. Key products include cutting fluids, corrosion preventatives, metal cleaners, and forming compounds. These products are critical in manufacturing processes as they improve tool life, reduce friction, and optimize surface finishes. Quaker Houghton’s MWF offerings include QUAKERCOOL®, QUAKERCUT®, and HOUGHTOCUT® product lines, which are known for their performance in high-stress industrial applications such as machining, grinding, and forming. The company’s fluids are engineered to meet specific needs, such as cooling, lubrication, and corrosion protection, and are widely used in sectors with demanding performance requirements.
TotalEnergies is a major French multinational and prominent global energy company based in France, with diversified operations across oil, natural gas, renewables, and specialty chemicals. TotalEnergies also has a significant presence in the metalworking fluids (MWF) market through its high-performance lubricants and specialty fluids tailored for industrial applications. Here’s an in-depth look at TotalEnergies’ profile and its role in the MWF market.
TotalEnergies is committed to reducing its carbon footprint and providing sustainable MWF solutions that align with increasing environmental regulations, particularly in Europe. The company has introduced biodegradable and low-toxicity fluids, which are less harmful to the environment and worker health. This commitment to sustainability is part of TotalEnergies’ broader strategy to transition toward cleaner energy and reduce its environmental impact across operations?.
Halliburton is an American multinational corporation and the world's second largest oil service company and global leader in the energy sector, providing services and products to the oil and gas industry, including drilling, well completion, and production. Though primarily known for its involvement in the oilfield services sector, Halliburton also plays a role in the metalworking fluids (MWF) market by providing specialty fluids for machining and drilling operations in the energy industry.
China Petroleum and Chemical Corporation (Sinopec), is a Chinese oil and gas enterprise. The company one of the largest integrated energy and petrochemical companies in the world, also plays a key role in the production of metalworking fluids (MWF). Sinopec provides a broad range of lubricants and specialty fluids for various industrial applications, including metalworking, automotive, and manufacturing.
Sinopec manufactures a wide range of metalworking fluids under its Sinopec Lubricants brand, including cutting oils, grinding fluids, and industrial lubricants. These products are used in various sectors, including automotive manufacturing, machine tool operations, and aerospace. Sinopec’s metalworking fluids are designed to provide superior lubrication, cooling, and corrosion protection for metal processing and machining applications.
Key product lines in Sinopec's metalworking fluids include cutting fluids, which help improve tool life and machining efficiency, and coolants that dissipate heat generated during operations. These solutions are crucial in heavy industries like steel production, automotive manufacturing, and aerospace machining?
Castrol Limited is a British oil company and global leader in lubricants, is part of the BP (British Petroleum) group, renowned for producing high-performance oils and fluids for a wide range of industrial and automotive applications. Its involvement in the metalworking fluids market is significant, offering specialized products that meet the needs of industries requiring lubrication and cooling during metal processing.
Regional Focus: Europe and North America
Castrol provides a comprehensive range of metalworking fluids that include cutting oils, grinding fluids, and coolants used in metal forming, cutting, and machining processes. Some of Castrol's major product lines include Hysol® and Ilocut®, which are engineered to enhance tool life, improve machining accuracy, and ensure surface finish quality. These fluids are designed to reduce friction, prevent corrosion, and dissipate heat during industrial operations.
Castrol’s metalworking fluids are highly regarded for their ability to improve the efficiency of manufacturing processes, particularly in industries that require precision and durability, such as automotive, aerospace, and general manufacturing?.
The Asia-Pacific region is a leading hub due to rapid industrial growth and demand from automotive manufacturing, particularly in China and India. North America follows closely, with a focus on innovation in MWF formulations for sustainable and efficient production methods. In Europe, strict environmental regulations drive demand for eco-friendly fluids
