Aluminum Rolling Oils Market Introduction
- Aluminum rolling and foiling is a highly complex process. A multitude of factors and parameters are involved in the process; rolling oil is one of them.
- Aluminum rolling oil is the major component of the rolling system, accounting for more than 90% of the total lubricant volume. It functions as a solvent for rolling additives (consisting of non-polar hydrocarbons). It also functions as a cooling medium and provides a hydrodynamic lubricating film. Its viscosity has significant effect on the quantity of lubricants entering the roll bite and the control of the rolling operation.
- In terms of process, the hot rolling process segment is expected to expand at significant pace during the forecast period. Hot rolling process is used in the preparation of steel bars. It is used in situations where precise shapes and tolerances are not required.
Key Drivers of Aluminum Rolling Oils Market
- Increase in demand for aluminum and steel in the automotive industry across the globe is expected to drive the aluminum rolling oils market during the forecast period. Aluminum rolling oil is a premium quality and low viscosity straight mineral oil used for cold rolling oil operation of aluminum sheets, strips, or foils. It is non-staining, non-corrosive, and has good additive solubility for various solvents. Many automotive manufacturers use aluminum rolling oil for smooth production process.
- Rise in demand for lubricants in various industries and increase in aluminum production across the globe are expected to drive the market during the forecast period. The industrial lubricants industry is reforming its supply channels and marketing policies. Increase in local & foreign investments in the industrial sector is anticipated to boost the demand for aluminum rolling oils over the next decade. Additionally, increase in production of aluminum and steel sheets is expected to drive the aluminum rolling oils market during the forecast period.
Aluminum Rolling Oils Market Restraints
- Fluctuation in prices of raw materials is projected to hamper the global aluminum rolling oils market. Raw materials such as alumina, lubricating oils, and bauxite are used in preparation of aluminum rolling oils. These raw materials are experiencing unstable prices, as the supply chain has been disrupted due to the COVID-19 pandemic. These raw materials experience periodic fluctuation in demand. This significantly affects their prices.
- Dearth of universal directives pertaining to applications of aluminum rolling oils is also likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of aluminum rolling oils. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the aluminum rolling oils market, thereby adversely affecting the market.
Covid-19 Impact on Aluminum Rolling Oils Market
- Aluminum rolling oils plays an important role in various end-user industries such as automotive, manufacturing, and electrical & electronics. Many production facilities of these end-user industries have been halted due to the COVID-19 pandemic. This has adversely affected the demand for aluminum rolling oils.
- Key players operating in the aluminum rolling oils market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these companies have spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these materials. Thus, demand for aluminum rolling oils is expected to decline by the end of 2020.
Asia Pacific to Hold Major Share of Global Aluminum Rolling Oils Market
- In terms of region, the global aluminum rolling oils market can be split into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
- Asia Pacific is projected to hold significant share of the global aluminum rolling oils market in terms of consumption during the forecast period. End-user industries such as automotive, health care, and electrical & electronics are rapidly expanding in the region. Rise in disposable income and improvement in standard of living in many countries in Asia Pacific are boosting the demand for consumer electronics. This, in turn, is augmenting the demand for aluminum rolling oils. Additionally, rise in production and sale of passenger vehicles in China, India, Japan, and South Korea is expected to boost the consumption of aluminum rolling oils in automotive applications, thereby boosting the market in these countries.
- North America is expected to account for vital share of the global aluminum rolling oils market during the forecast period owing to presence of major automotive players and expansion in the electrical & electronics industry in the U.S. and Canada
Prominent Players in Global Aluminum Rolling Oils Market
Major players operating in the global aluminum rolling oils market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Exxon Mobil Corporation
- Indian Oil Corporation Limited
- Croda International Plc
- Quaker Chemical Corporation
- Jiangsu Gaoke Petrochemical Co., Ltd.
- Etna Products, Inc.
- Houghton International Inc.
- Eastern Petroleum Pvt. Ltd.
- Ricci S.p.A
Research Scope; Aluminum Rolling Oils Market
Aluminum Rolling Oils Market, by Process
- Hot Rolling Process
- Cold Rolling Process
Aluminum Rolling Oils Market, by Aluminum Type
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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