Metal Working Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Metal Working Fluids Market Trends and Major Manufacturers and is Segmented by Product Type (Removal Fluids, Forming Fluids, Protection Fluids, and Treating Fluids) and Geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The market size and forecasts are provided in value (USD million) for all the above segments.

Metal Working Fluids Market Size

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Metal Working Fluids Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR < 2.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Metal Working Fluids Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Metal Working Fluids Market Analysis

The metalworking fluids market is projected to register a CAGR of less than 2% during the forecast period.

  • COVID-19 negatively impacted the market in 2020. However, the market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
  • The increased demand for automotive and heavy industry machinery is expected to drive the market demand during the forecast period. On the other hand, the rising trend of dry machining is expected to hinder the market growth.
  • Furthermore, the multi-phase metal working fluid is expected to act as a market opportunity in the future. The Asia-Pacific region dominates the market worldwide, with countries like China, India, and Japan being the biggest consumers.

Metal Working Fluids Market Trends

This section covers the major market trends shaping the Metal Working Fluids Market according to our research experts:

Increased Demand for Automotive Sector

  • The demand for metal working fluids is expected to be driven by growing demand for automotive and heavy industry machinery. Hence, the expansion of the automotive industry is expected to be a primary driver of the metal working fluids market.
  • Metal working fluids are used in the automotive sector since they can decrease friction between the workpiece and the tool, provide a good surface quality, remove metal chips, and increase tool life. Machining operations' efficiency is increased using metalworking fluids, leading to increased machine output.
  • The expansion of the automotive segment in China is anticipated to benefit the demand for metal working fluids. According to the International Organization of Motor Vehicle Manufacturers (French: Organisation Internationale des Constructeurs d'Automobiles) (OICA), China is the largest producer of automobiles. The country produced 2,60,82,220 units of vehicles in 2021.
  • Furthermore, India witnessed a significant increase in the production of passenger vehicles. For instance, according to data published by the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles reached 3,650,698 for 2021-2022, representing an increase of 19% compared to 2020-21, thus, supporting the market growth significantly. Hence, with expanding automotive industry, the demand for metal working fluids subsequently increases during the forecast period.
Metal Working Fluids Market : Automobile Production, India, In Numbers, 2020-2022

Asia-Pacific to Witness the Fastest Growth

  • Asia-Pacific dominated the market primarily due to the increasing demand from the agriculture and construction sectors. The increasing industrialization and economic development are driving the growth of the heavy machinery industry in countries such as China, India, Japan, etc.
  • Metal working fluids are extensively used during heavy machinery and equipment manufacturing processes. Thus, with the increasing demand for such machinery, the demand for metal working fluids is also anticipated to increase in the near future.
  • The heavy machinery industry covers a wide range of sub-sectors, such as machine tools, heavy electrical equipment, cement machinery, material handling machinery, plastics processing machinery, process plant equipment, earth moving, and construction and mining equipment, among others.
  • China's 14th Five-Year Plan offers an opportunity for China to advance its agricultural and rural transformation, which directly co-relates to an increased usage of heavy machinery in agricultural and construction activities.
  • Further, the export of construction equipment in India grew by 60.5% to 7,802 units in 2022. The central government budgeted a 36% increase in its capital spending to INR 7500 billion (USD 100.5 billion) in the fiscal year 2022, with a focus on infrastructure development.
  • Additionally, Japan is witnessing stable growth in the production of agricultural machinery. According to data from the Japanese Agricultural Machinery Manufacturers Association (JAMMA), in 2021, the total production of various farm equipment (rice husker, power thresher, vegetable machinery, etc.) stood at 520,394 (much higher than the 429,862 produced in 2020), out of which a total of 120,061 tractors were produced.
  • Thus, owing to the aforementioned factors, the Asia-Pacific region is expected to dominate the Metalworking fluids market during the forecast period.
Metal Working Fluids Market : Growth Rate by Region, 2023-2028

Metal Working Fluids Industry Overview

The metal working fluids market is partially consolidated in nature. Some of the major players in the market include Exxon Mobil Corporation, FUCHS, TotalEnergies, BP p.l.c., and Chevron Corporation, among others (in no particular order).

Metal Working Fluids Market Leaders

  1. Exxon Mobil Corporation

  2. FUCHS

  3. TotalEnergies

  4. BP p.l.c.

  5. Chevron Corporation

*Disclaimer: Major Players sorted in no particular order

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Metal Working Fluids Market News

  • February 2023: Univar Solutions and Milliken signed an agreement to automate the liquid dyes market in North America for lubricants and metal working fluids.
  • December 2022: SKF and Castrol collaborated to provide access to industrial lubricant recycling. The collaboration entails providing 'oil as a service' by combining the SKF RecondOil solution with Castrol's metal working lubricants.

Metal Working Fluids Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growth of the Automotive Sector and Heavy Machinery Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Rising Trend of Dry Machining

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Product Type

      1. 5.1.1 Removal Fluids

      2. 5.1.2 Forming Fluids

      3. 5.1.3 Protection Fluids

      4. 5.1.4 Treating Fluids

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.2.2 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      3. 5.2.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.2.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BP p.l.c.

      2. 6.4.2 Carl Bechem Lubricants India Private Limited

      3. 6.4.3 Chevron Corporation

      4. 6.4.4 Exxon Mobil Corporation

      5. 6.4.5 FUCHS

      6. 6.4.6 Hindustan Petroleum Corporation Limited

      7. 6.4.7 Indian Oil Corporation Ltd

      8. 6.4.8 Kemipex

      9. 6.4.9 SKF

      10. 6.4.10 Motul

      11. 6.4.11 PETRONAS Lubricants International

      12. 6.4.12 TotalEnergies

      13. 6.4.13 Saudi Arabian Oil Co.

    5. *List Not Exhaustive

    1. 7.1 Multi-Phase Metal Working Fluid

**Subject to Availability
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Metal Working Fluids Industry Segmentation

Metalworking fluid (MWF) is the name given to a range of oils and other liquids used to cool and/or lubricate metal workpieces when machined, ground, milled, etc. MWFs reduce the heat and friction between the cutting tool and the workpiece and help prevent burning and smoking. Applying MWFs also helps improve the quality of the workpiece by continuously removing the fines, chips, and swarfs from the tool being used and the surface of the workpiece.

The metal working fluids market is segmented by product type and geography. By product type, the market is segmented into removal fluids, forming fluids, protection fluids, and treating fluids. Based on geography, the market is segmented into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.

For each segment, market sizing and forecasts have been done based on revenue (USD million).

Product Type
Removal Fluids
Forming Fluids
Protection Fluids
Treating Fluids
South Korea
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Metal Working Fluids Market Research FAQs

The Metal Working Fluids Market is projected to register a CAGR of less than 2% during the forecast period (2024-2029)

Exxon Mobil Corporation, FUCHS , TotalEnergies, BP p.l.c. and Chevron Corporation are the major companies operating in the Metal Working Fluids Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Metal Working Fluids Market.

The report covers the Metal Working Fluids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Metal Working Fluids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The major challenges faced by the Metalworking Fluids Industry are a) The development of sustainable and eco-friendly products b) The need for robust control of processes and materials to optimize efficiency and productivity

Metal Working Fluids Industry Report

The global metalworking fluids market is experiencing significant growth, driven by diverse industrial demands and regional expansions, particularly in the Asia-Pacific region. The market is segmented based on product types, including mineral, synthetic, and bio-based fluids, with mineral oils holding a substantial share due to their cost-effectiveness. Applications such as neat cutting oils and water cutting oils are categorized, with neat cutting oils dominating due to their extensive use in various machining processes. Key end-use industries like machinery, transportation equipment, and construction are major contributors to the market's expansion. The machinery segment is witnessing robust growth due to increased demand for agricultural and construction equipment, while the transportation equipment segment is also expected to see significant growth. Industrial end-users such as construction and automobile sectors are pushing the demand for metalworking fluids, with the construction segment leading due to rising global urbanization and infrastructure projects. The automobile industry is anticipated to grow rapidly, fueled by increasing luxury car sales and advancements in manufacturing processes that require high-quality metalworking fluids. For detailed statistics and a market forecast outlook, refer to Mordor Intelligence™ Industry Reports, which provide a comprehensive historical overview and a free report PDF download.

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Metal Working Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)