Global Metal Forming Fluids Market: Overview
Metal forming fluids provide lubrication and cooling to metal bending, stretching and shaping operations. Lubrication is a very important requirement in the metal forming process as it is expected to reduce friction between formed metal piece and metal casting die. This is achieved through the action of metal forming fluids, which are used as a barrier to minimize contact between the die and the work piece.
This is why these fluids find important applications in metal forging industry. It will lead to notable growth in the global metal forming fluids market over the forecast period of 2020 to 2030. Given the steady growth seen in heavy industry and construction sectors of the market currently, Transparency Market Research notes that this market is set to grow in the coming years due to increased demand for raw materials.
Global Metal Forming Fluids Market: Competitive Landscape
The Metal Forming Fluids Market is fragmented because of a large number of players globally. The competition among the market players is high. Key market participants identified across the value chain of the metal forming fluids market are as follows:
- Exxon Mobil Corporation
- Total S.A.
- Quaker Chemical Corporation
- The Lubrizol Corporation
- Ashburn Chemical Technologies
- Callington Haven Pty Ltd.
- BlueStar Lubrication Technology
- QualiChem, Inc.
- International Lubricants, Inc.
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Global Metal Forming Fluids Market: Key Trends and Drivers
- Growth of heavy machinery industry in the developing economies of Asia Pacific and Central and South America is anticipated to drive the market for metalworking fluids. This industry includes construction equipment, cement, textile, metallurgical and mining machinery, oil field equipment, and material handling equipment. These machines have a high demand for synthetic and semi-synthetic-based fluids which offer better machining performance, corrosion resistance, and increased tool life.
- Construction volumes are set to witness massive increase over the next few years – 85% by 2030. This will dive intense growth in the global metal forming fluids market over the forecast period. China and India in Asia Pacific will region will lay claim to a sizeable share of the total growth in construction market. Along with United States of America, these two countries are set o hold market worth of 57%.
- However, the penetration of plastic components in various industries, notably the automobile industry has increased considerably over the past few years owing to their low weight, robust performance, high resistance to corrosion, and durability. Plastic components have largely replaced metal parts in various sectors. This has driven plastic use in military and defense aircraft and carriers, which is expected to have a restraining impact on the growth of global Metal Forming Fluids.
Global Metal Forming Fluids Market: Regional Analysis
Growing exploration and production activities of oil and gas, especially in Asia Pacific, followed by North America are anticipated to drive the demand for Metal Forming Fluids – since crude oil and base oil are the primary raw materials for the production of these fluids. APAC is expected to be the largest and fastest growing region due to an increase in manufacturing activities. China and India are attracting a lot of foreign investment in various industrial sectors. The growth of the manufacturing industry will catalyze the demand for these products in the region. Another important region to watch out for in terms of market growth is the Middle East, owing to its rich oil reserves and growth in industrial and residential sectors.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
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?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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