Metal Working Fluids Market in APAC 2015-2019
MWF are lubricating oils used to cool metallic work pieces when they are subject to industrial processes, such as machining, grinding, milling, stamping, and forging. MWF are added during the aforementioned and other industrial processes to reduce heat and friction between the cutting or machining tools and work pieces, and to prevent burning, smoking, and damage to tools and work pieces. These fluids also help in enhancing the overall quality of work pieces by constantly removing the metal chips from the tool used, and from work pieces. MWF are used for various industrial and commercial applications, such as fabrication of metal products, smooth working of machinery and transportation equipment, and processing of ferrous and non-ferrous primary metals. There are four categories of MWF: removal fluids, forming fluids, protection fluids and treating fluids.
Technavio's analysts forecast the MWF market in APAC to grow at a CAGR of 3.96% over the period 2014-2019.
Covered in this Report
The MWF market in APAC can be segmented on the basis of application into the following: transportation equipment, machinery, primary metals, fabricated metal products, and metal cans and others.
Technavio's report, MWF Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers China, Japan, India, South Korea, and the rest of APAC; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Metal Working Fluids (MWF) Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Metal Working Fluids (MWF) Market in APAC: BP (Castrol), Houghton International, Idemitsu Kosan, Quaker Chemical and Yushiro Chemical Industry
Other Prominent Vendors in the market are: Apar, Bharat Petroleum, Blaser Swisslube, Cosmo Oil, Daido Chemical Engineering, Exxon Mobil, Francool Technologies, Fuchs Petrolub, Guangzhou Mechanical Engineering Research Institute, HPCL, IOCL, JX Nippon, Kyodo Yushi, Lubrizol, Master Chemical, Milacron Holdings, NS Lubricants, SAMHWA Lube, Shanghai Parker Chemical, SK Group, Suzhou Special Chemicals and Total Lubricants
Commenting on the report, an analyst from Technavio’s team said: “Near dry machining, otherwise known as minimum-quantity lubrication, leads to the use of conventional MWF, causing less environmental waste with the same quantity of lubricant used. In comparison to near dry machining, conventional wet machining floods the part with MWF, requiring large amounts of dry fluids that act as coolants for tools used to manufacture engines and transmission, thereby increasing the cost of operations. Dry machining has gained significance in recent times in manufacturing processes, especially in North America and Europe, as companies look for more cost-cutting, and the extensiveness of regulations has increased. Other trends in manufacturing such as micro-lubrication, near net shape casting, high-speed cutting, and hydroforming have all led to lower consumption, higher performance, and specialist products.”
According to the report, the automotive sector, part of the transportation industry, was the major user of MWF in the market in APAC in 2014. MWF are an integral part of the automotive sector and are a necessity in various operations, including machining, stamping, and forging. As China accounts for the majority of sales in this sector in the MWF market in the region, the rapid growth of the automotive sector in the country, resulting from growing urbanization and the increasing influence of the West, has had a positive impact on the demand for MWF. In addition, the rising volumes of vehicle production and an increase in the number of variants in the product line in the sector have further propelled this demand. With the Chinese automotive market expected to exhibit its historical growth trend during the coming years, its growth will significantly benefit the MWF market in APAC.
Further, the report states that the recent slowdown, in comparison to the historical growth trend, in the industrial growth and development in China, along with the near saturated MWF market conditions in Japan and the nation's slow recovery from the last decade's economic turmoil and natural calamities, has made it difficult for the manufacturers in the market to increase their profitability.
BP (Castrol), Houghton International, Idemitsu Kosan, Quaker Chemical, Yushiro Chemical Industry, Apar, Bharat Petroleum, Blaser Swisslube, Cosmo Oil, Daido Chemical Engineering, Exxon Mobil, Francool Technologies, Fuchs Petrolub, Guangzhou Mechanical Engineering Research Institute, HPCL, IOCL, JX Nippon, Kyodo Yushi, Lubrizol, Master Chemical, Milacron Holdings, NS Lubricants, SAMHWA Lube, Shanghai Parker Chemical, SK Group, Suzhou Special Chemicals, Total Lubricants
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