Metal working fluids (MWF) are chemical formulations which are used for multiple functions in machining and grinding of metal parts. The main purpose why these fluids are used is because high level performance is expected in machine processing along with high precision. These fluids are used for variety of purposes which include reduction of heat and friction between the cutting tool and work piece, which in turn protects the machine from burning and smoking. The main factors owing to the growth of this industry include green field projects and increase in the demand of important sectors like energy, manufacturing, process, and metals.
Another important reason for the rise in MWF industry is the protection of the metals from rust and corrosion. New additives are being invented for this purpose. While there are many different lubricating oils in the industry, the classification of fluids is based on the ratio of oil present in the fluid. The segmentation includes the following classes; straight oils or neat oils, which are not mixed with water. Second class is water soluble oils, followed by synthetic and semi synthetic oils.
The metalworking fluids market has been segmented in to different segments such as type, properties, application and geography exclusively. Each type varies greatly and the composition is different with different technical specifications. Metalworking fluids are being used in different applications. For instance, aerospace and automotive forms the major segment. Other than these the key user segments include firearms and defense equipment, oilfield equipment, electronic tools and others. The metalworking fluids market has also been segmented based on the properties these additives possess. The major ones include, cutting and grinding fluids, followed by forming fluids, removal fluids and protective fluids.
The overall market is also presented from the perspective of different geographic regions and the key countries in each region. The market has been segmented in to four regions North America, Europe, Asia-pacific and Rest of the World. Competitive landscape for industry and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2014 are provided.
Few of the companies that are profiled in this report include:
- Dow Chemical,
- Evonik Industries
- QualiChem Metalworking Fluids.