The global forming fluids market reached a value of US$ 3.1 Billion in 2019. Forming fluids are fluids that are used in forming processes such as folding, stamping, drawing and wire-drawing. These processes are largely used in the manufacturing of sheet metal and components, both in heavy industry and in the manufacturing of small, detailed objects. The products utilised in such processes may be either oil-based or emulsions that are derived from mineral or synthetic oils. These fluids include drawing and stamping compounds, forging compounds, rolling oils, die-casting compounds, and hydroforming fluids.
The global demand of forming fluids is currently experiencing stable growth. An important property of forming fluids is that they provide great lubrication and better corrosion protection. This way, they help in protecting the substrates from scratches and damage during manufacturing and molding. Forming fluids are composed of different additives that help in improving their efficiency. Additionally, a defining characteristic of forming fluids is that they protect the substrates from acidic conditions and humidity, particularly in industrial environments. The selection of the forming fluids depends on numerous parameters which includes the type of application, process, available water quality, and the metal. The right selection of parameters ensures the cost-effective and smooth operation of the metal forming process. Looking forward, the market value is projected to reach US$ 3.5 Billion by 2025 exhibiting a CAGR of 2.1% during 2020-2025.
This report provides a deep insight into the global forming fluids market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the forming fluids industry in any manner.
Key Questions Answered in This Report:
The temporary closure of various manufacturing units on account of the coronavirus disease (COVID-19) outbreak is negatively impacting the market growth.
The global forming fluids market was worth around US$ 3.1 Billion in 2019.
According to the estimates by IMARC Group, the global forming fluids market will exhibit steady growth during the next five years.
Forming fluids provide cooling, lubrication and corrosion protection in the production of automobiles. Substantial growth in the automotive industry represents one of the key factors bolstering the market growth.
As manufacturing processes of various industrial goods incur high maintenance expenditure, there is a rise in the demand for innovative protection solutions, such as forming fluids, around the world.
On the basis of the product, the market has been segregated into rolling oils, hydroforming fluids and others.
Based on the application, the market has been categorized into primary metals, transportation equipment, fabricated metal products, machinery, metal cans and others.
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Leading industry players are Afton Group, BASF SE, Chevron Corporation, The Dow Chemical Company, Lonza Group, Lubrizol Corporation, Apar Group, Columbia Petro Chem Pvt. Ltd., Public Joint Stock Company Gazprom, Idemitsu Kosan Co., Ltd., Indian Oil Corporation Limited, PJSC LUKOIL, PT PERTAMINA (PERSERO), China Petrochemical Corporation, SK Lubricants Co., Ltd. and Total Specialties USA.
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