SAN FRANCISCO, February 25, 2016 /PRNewswire/ --
The global metalworking fluids market is expected to reach USD 11.99 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for metalworking fluids in automotives and heavy machinery owing to its properties of increasing efficiency is expected to drive market growth. Competitive pricing owing to large number of small suppliers in the market is expected to be a key feature of the industry over the next seven years.
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Synthetic fluids are expected to witness significant growth on account of their increasing use on account of their superior capabilities such as increasing tool life and providing excellent surface finish. However, customers in Asia Pacific region are still consuming mineral oil based fluids on account of their price sensitive nature.
Browse full research report with TOC on "Metalworking Fluids Market Analysis By Product (Mineral, Synthetic, Bio-based), By Application (Neat Cutting Oils, Water Soluble Cutting Oils, Corrosion Preventive Oils) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/metalworking-fluids-market
Asia Pacific has been leading the demand owing to presence of a large-scale consumer base, particularly from India and China. Price sensitivity among OEMs in Asia Pacific is a major factor influencing demand for metalworking fluids in the region.
Further key findings from the report suggest:
Grand View Research has segmented the global metalworking fluids market on the basis of material, application and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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