Global metalworking fluids market is anticipated to witness growth on account of increasing importance of preventive maintenance over breakdown failures in manufacturing industry. Gaining popularity of metal working fluids for improving surface finish and tool life is expected to be a favorable factor for the market growth over the forecast period. Automobile industry growth on account of emergence of Mexico as a production hub and new product launches are expected to force machine tools manufacturers to increase the deployment of machining processes which is anticipated to promote metalworking fluids market demand in the near future. Growing awareness regarding hazardous effects and high risk of using synthetic and semi synthetic metalworking fluids has forced companies to increase R&D expenditure on the development of bio based metalworking fluids.
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Technological advancement aimed for reducing levels of lubrication and cutting oil in CNC turning and milling machines is is expected to have a negative impact on metalworking fluids market growth over the next seven years. Degrading water quality in China and India on account of lack of environmental norms aimed for water treatment is expected to be a concerning factor for metalworking fluids manufacturers in the near future.
Global metalworking fluid market is highly fragmented on account of presence of large number of multinational as well as local manufacturers in lubricants industry. Numerous regional market players have started providing maintenance services along with production and distribution for metalworking fluids to create differentiation from the competition. In January 2014, Kuwait Petroleum International Lubricants (UK) Ltd launched Qcare field technician service to provide lubrication services to manufacturers deploying machining centres for milling and turning processes Key Players in the metalworking fluids market include British Petroleum, Blaser Swisslube, ExxonMobil, Ipol, Chevron Lubricants, Motul, Henkel, Lubrizol, Houghton International, Ashburn Chemicals and Croda.. In November 2012, Gulf Oil Corporation acquired the Houghton international Inc., which had integrated their expertise in lubricants industry.
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