Demand For Removal Fluids Is Projected To Accelerate At A CAGR Of 3% Across The Assessment Period Of 2021 To 2031
– Global metalworking fluids market to top US$ 12 Bn by 2031. – Removal fluids projected to reach around US$ 4 Bn by 2031. – Forming fluids projected to record above 2% CAGR over next 10 years. – Market in Europe to hold share of more than 30%. – Market in Australia expected to reach valuation of US$ 1.5 Bn by 2031. – Market in Germany to record 1% CAGR over forecast period of 2021- 2031.
– BP – Chevron Corporation – Houghton International – ExxonMobil Corporation – Total S.A. – Apar – Fuchs Petrolub SE – Hindustan Petroleum Corporation Limited – Castrol Limited
“Users of metalworking fluids in machining and fabrication have to invest in expensive and effluent treatment facilities in order to meet environmental and waste treatment regulations. As a result, metalworking fluid producers are making a seismic shift to bio-based metalworking fluids to obtain regulatory clearance,” according to a Fact.MR analyst.