Market Challenges And Opportunities

Drivers

Increasing production of automobiles

Increasing production of automobiles is primarily fuelling the market growth of metalworking fluids. Metalworking fluids are widely used as coolants across metal treating, metal removal, metal forming, and metal protecting in metalworking applications. Hence, growth in the production of automobiles is expected to foster the market growth.

Increasing demand for automobiles in the U.S. is expected to augment the growth of the metalworking fluids market over the forecast period. Emerging economies, such as India, China, Brazil, and Russia, are witnessing significant growth in automotive and transportation services, specially the manufacturing sector. The increasing production of vehicles is the major factor driving the demand for metalworking fluids. Besides thr automotive industry, the aerospace, railways, marine, and defense industries are also contributing to the growth of the global metalworking fluids market.

Market Restraints

Environmental and health-related issues associated with workers

Environmental issues like contamination of soil, groundwater, seawater, and health risks, such as asthma, chronic bronchitis, cancer, and skin diseases associated with the workers on the floor, is expected to hinder the market growth of metalworking fluids. Metalworking fluids release various toxic waste that creates environmental issues. Moreover, the chemicals present in metalworking fluids lead to cancer, respiratory, and skin diseases in workers. All these factors are expected to hamper the market growth of metalworking fluids during the forecast period.