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The global forming fluids market reached a value of US$ 3.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2027, exhibiting a CAGR of 1.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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.
Forming fluids provide great lubrication and better corrosion protection and thus help in protecting the substrates from scratches and damage during manufacturing and molding. They 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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global forming fluids market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, and application.
Breakup by Product Type:
Based on the product type, the market has been segmented into rolling oils, hydroforming fluids and others.
Breakup by Application:
Based on the application, the market has been segmented into primary metals, transportation equipment, fabricated metal products, machinery, metal cans and others. Primary metals currently represent the biggest segment.
Breakup by Region:
Region-wise, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for the majority of the global market.
The competitive landscape of the market has also been examined with some of the key players being 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.
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.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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 reached a value of US$ 3.2 Billion in 2021.
According to the estimates by IMARC Group, the global forming fluids market is expected to exhibit a CAGR of 1.8% during 2022-2027.
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 type, 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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