Forming Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global forming fluids market was worth US$ 3.02 Billion in 2018. Forming fluids are fluids that are used in forming processes such as folding, stamping, drawing and wire-drawing. These processes are largely used in the manufacturing of sheet metal and components, both in heavy industry and in the manufacturing of small, detailed objects. The products utilised in such processes may be either oil-based or emulsions that are derived from mineral or synthetic oils. These fluids include drawing and stamping compounds, forging compounds, rolling oils, die-casting compounds, and hydroforming fluids.
The global demand of forming fluids is currently experiencing stable growth. An important property of forming fluids is that they provide great lubrication and better corrosion protection. This way, they help in protecting the substrates from scratches and damage during manufacturing and molding. Forming fluids are composed of different additives that help in improving their efficiency. Additionally, a defining characteristic of forming fluids is that they protect the substrates from acidic conditions and humidity, particularly in industrial environments. The selection of the forming fluids depends on numerous parameters which includes the type of application, process, available water quality, and the metal. The right selection of parameters ensures the cost-effective and smooth operation of the metal forming process. Looking forward, the market value is projected to reach US$ 3.37 Billion by 2024 exhibiting a CAGR of 2.2% during 2019-2024.
Based on the product type, the market has been segmented into rolling oils, hydroforming fluids and others.
Based on the application, the market has been segmented into primary metals, transportation equipment, fabricated metal products, machinery, metal cans and others. Primary metals currently represent the biggest segment.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being Afton, BASF, Chevron Oronite, Dow, Lonza, Lubrizol, Apar, Chevron, Columbia Petro, Gazprom, Idemitsu Kosan, Indian Oil, Lukoil, Pertamina, Sinopec, SK and Total Lubricants USA.
This report provides a deep insight into the global forming fluids market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the forming fluids industry in any manner.
Key Questions Answered in This Report:
How has the global forming fluids market performed so far and how will it perform in the coming years?
What are the key regional markets in the global forming fluids industry?
What is the breakup of the global forming fluids market on the basis of product type?
What is the breakup of global forming fluids market on the basis of application?
What are the price trends of forming fluids?
What are the various stages in the value chain of the global forming fluids market?
What are the key driving factors and challenges in the global forming fluids market?
What is the structure of the global forming fluids market and who are the key players?
What is the degree of competition in the global forming fluids market?
How are forming fluids manufactured?
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