North America Metalworking Fluids Market Forecast 2017-2023
PRN Newswire provides the following summary of the North America Metalworking Fluids Market Forecast 2017-2023. When reading this, keep in mind that at the first publication of this magazine in 1997, the projection for the metalworking fluid market was $2B. While only minor insight is provided into the technological aspects of the market, the bottom line is positive growth.
SUMMARY OF KEY FINDINGS: The Metalworking fluids market in 2014 was estimated to be USD 8.30 Billion and is projected to grow at a CAGR 3.2% during the forecast period of 2017-2024. The metalworking fluids market is segmented on the basis of geography, product type and application. The segmentation by product type is on the basis of removal fluids, forming fluids, protecting fluids and treating fluids. The classification of the application is on basis of transportation equipment, machinery, fabricated metal products, primary metals and metal cans and others.here is a demand for a multipurpose working fluid which protects the tools while resulting in higher rate of production. The original equipment manufacturers are using gallium, titanium, and palladium for diverse manufacturing processes. This invention would produce more demand for Metalworking fluid that can be compatible with various metals. High performance Metal fluid working that can be used for superior high-pressure fluid system effective for efficient functioning is demanded by the Aerospace industry.
The global economic crisis was a huge setback for the Metalworking fluid industry and automotive industry. The recent rebound of the automotive industry led to an upswing in the demand for metalworking fluids on the global front. The factors that act as restraints to the Metalworking fluid market are high vulnerability to microbial attack and regulatory use of anti-microbial chemicals for their protection. Click the picture for the full report. Thanks to PRN Newswire for the report.