Metalworking Fluids Market Research Report 2019, Industry Trends, Share, Size, Demand and Future Scope
According to IMARC GROUP, the global metalworking fluids market is reached a value of US$ 11 Billion in 2018. Looking forward, IMARC Group expects the market to reach a value of around US$ 13 Billion by 2024, registering a CAGR of around 3% during 2019-2024. Metalworking fluids (MWFs) refer to a range of oils and lubricating liquids that are used to cool down a metal workpiece during industrial machining and grinding operations. They provide lubrication and aid in reducing heat and excessive friction between the cutting tools and the workpiece. These fluids find extensive application in the transportation and construction industries for removing metal particles, maintaining workpiece quality, reducing tool wear and enhancing productivity. Metalworking fluids are utilized in the automotive industry for removing metal chips, providing excellent surface finish and extending the service life of tools. Furthermore, owing to increasing environmental concerns, several ma...