COVID-19 Impact on Quenching Fluids & Salts Market
- The COVID-19 pandemic has negatively impacted the quenching fluids & salts market. Governments have imposed strict rules and regulations to minimize the risk of COVID-19 infections. Because of these regulations, various industrial units were shut down or permitted to work with limited capacities. This resulted in low production yield.
- Growth of various end-use industries was hampered due to the imposition of stringent government norms that negatively impacted business strategies. However, revival in the global quenching fluids & salts market can be achieved with relaxation of lockdown measures across the globe.
Key Drivers of Global Quenching Fluids & Salts Market
- Demand for construction materials such as metals and polymer quenching fluid products has increased in recent years due to rapid development in the building & construction materials sector. Growth in the construction industry is likely to positively impact the quenching fluids & salts market in the next few years.
Global Quenching Fluids & Salts Market: Segmentation
- The global quenching fluids & salts market can be segmented in terms of product, process, and end-use
- Based on product, the global quenching fluids & salts market can be segmented into oils, polymers, and salts.
- In terms of process, the global quenching fluids & salts market can be classified into cold die quenching and hot quenching. Cold die quenching involves quenching thin, flat components between water cooled plates or dies under pressure, while hot quenching involves a metal to be quenched in a hot bath.
- Based on end-use, the global quenching fluids & salts market can be segregated into automotive, construction, defense, and mining. Automotive and construction segments are expected to expand at a significant pace in terms of demand during the forecast period.
Global Quenching Fluids & Salts Market: Region Segmentation
- Based on region, the global quenching fluids & salts market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- The quenching fluids & salts market has been expanding in China, Japan, and India due to the significant growth of automotive and construction industries in these countries
- Increase in demand for electric vehicles in Asia Pacific can lead to a rapid improvement in infrastructure of the automotive industry. Countries in Asia Pacific are implementing rules and regulations for use of electric vehicles rather than fuel consuming vehicles. This is driving the market in the region.
- Demand for quenching fluids & salts is high in North America in automotive and aerospace sectors
Global Quenching Fluids & Salts Market: Product Segmentation
- Based on product, the global market can be segmented into oils, polymers, and salts. The oils segment held the largest share of the market, followed by the polymers segment, in 2020.
Global Quenching Fluids & Salts Market: End-use Segmentation
- Based on the end-use, the global market is segmented into automotive, construction, defense, mining, and aerospace
- The automotive segment is projected to gain higher share of the global market during the forecast period. Increase in demand for electric vehicles is likely to contribute to the major share of the automotive segment. Various governments are implementing new regulations for the manufacture of more efficient electric vehicles. Hence, wide usage of quenching fluids & salts in the automotive sector is expected to drive the quenching fluids & salts market during the forecast period.
- Demand for construction materials such as metals and polymer quenched products has increased in recent years due to rapid development in the construction & building materials sector
Global Quenching Fluids & Salts Market: By Process Segmentation
- In terms of process, the global quenching fluids & salts market can be classified into cold die quenching and hot quenching
- The cold die quenching process is widely implemented in the automotive sector. In the automotive industry, various heat treatment facilities are required during the operations which can be met by the cold die quenching process.
- Cold die quenching process is practiced in the aerospace industry. This is likely to positively impact the quenching fluids & salts market during the forecast period.
Key Players Operating in Global Quenching Fluids & Salts Market
- Exxon Mobil Corporation
- Castrol Ltd.
- Croda International Plc.
- Chevron Corporation
- Chemtool Incorporated
- Quaker Chemical Corporation
- DuBois Chemicals
- Quaker Houghton
Global Quenching Fluids & Salts Market: Research Scope
Global Quenching Fluids & Salts Market, by Product
- Medium Speed Oils
- Fast Speed Oils
- Special Quenching Oils
- Inverse Solubility Type
- Up-conversion Concentration Type
- Nitrate Salts
- Chloride Salts
Global Quenching Fluids & Salts Market, by Process
- Cold Die Quenching
- Hot Quenching
Global Quenching Fluids & Salts Market, by End-use
Global Quenching Fluids & Salts Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Quenching Fluids & Salts: Introduction
- Quenching fluids & salts are a type of chemical materials that are used during the process of soaking of a metal at a high temperature above its recrystallization phase, followed by the rapid cooling process, to acquire desirable metallurgical properties
- Quenching is an important parameter in the heat treatment process of metal to acquire appropriate properties
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