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Demand for synthetic formulations surges in global metalworking fluids market
- December 19, 2014
- News Release
- Shop Management
Booming end-user markets, especially in Asia, are driving the global metalworking fluids market. As industrial production increases in China, India, Russia, Turkey, Brazil, and Southeast Asian countries, regulations on wastewater treatment and disposal are compelling end users to optimize the use of mineral oil-based metalworking fluids. This is expected to increase the adoption of semisynthetic and synthetic metalworking fluids that offer good balance between cost and performance. In turn, the metalworking additives segment will grow rapidly as synthetic-based metalworking fluids require a stronger additive package.
New analysis from London-based Frost & Sullivan, “Analysis of the Global Metalworking Fluids Market,” finds that the market earned revenues of $8.83 billion in 2013 and estimates this to reach $12.09 billion in 2020. Regulations on wastewater treatment also will be a major driver in Europe and North America. In addition, the burgeoning Asian automotive industry and niche applications such as medical machining will boost sale volumes.
"The replacement of metals with plastics and composites in several applications will, however, quench the demand for metalworking fluids to an extent," said Frost & Sullivan Chemicals, Materials and Food Research Associate Srinivas Venkatesan. "For instance, the automotive and aerospace industries use plastics and composites for lightweighting. Similarly, the preference for cartons over beverage cans is likely to impact the demand for metalworking fluids from the packaging industry."
In addition, the development of technologies such as minimum-quantity lubrication, high-pressure machining, and near-net-shape casting could replace conventional metalworking processes, thereby reducing the demand for metalworking fluid. Advancements in 3-D printing could further hamper uptake as materials processed through laser sintering technology have good mechanical properties and an excellent surface finish.
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